Supercapitalism

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From the greatly admired author of The Work of Nations and The Future of Success, this breakthrough book explores the clash between capitalism and democracy. Mid-twentieth-century capitalism has evolved into global capitalism, which has now transformed into supercapitalism—an accelerated, Web-based system capable of producing almost anything anywhere. While supercapitalism expands the economic pie, it undermines democracy's ability to serve all citizens effectively. Reich highlights the widening inequalities of income and wealth, increased job insecurity, and the impacts of global warming as direct consequences of supercapitalism. He explains how companies, striving to maintain competitive edges, have become more politically involved, while average citizens, focused on securing deals and invested in the stock market, hesitate to uphold their values if it jeopardizes their interests. The traditional tools for addressing societal issues—fair taxation, robust public education, and trade unions—have diminished alongside the rise of supercapitalism. Reich advocates for a clear separation between business and politics, calling for an end to the notion that corporations are citizens and emphasizing that social responsibility must be defined by law. He argues for abolishing the corporate income tax in favor of taxing shareholders, holding individuals accountable for corporate crimes, and recognizing that only people can be citizens,