Complete video at:
http://fora.tv/fora/showthread.php?t=...
Former U.S. Secretary of Labor Robert Reich argues that certain aspects of capitalism are often at odds with the best interests of democracy.
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Robert Reich discusses "Supercapitalism: The Transformation of Business, Democracy, and Everyday Life."
In his newest book, "Supercapitalism," Reich explores the clash between capitalism and democracy. Our economy has become more efficient than ever, with turbocharged, web-based global capitalism morphing into supercapitalism. While supercapitalism is working well to enlarge the economic pie, democracy - charged with caring for all its citizens - is becoming less and less effective under its influence. He makes clear how the tools traditionally used to temper America's societal problems have withered as supercapitalism has burgeoned, and sets out a clear course that can lead the nation to a vibrant capitalism and a concurrent, equally vibrant democracy - Cody's@FCCB
Robert B. Reich is Professor of Public Policy at the Goldman School of Public Policy at the University of California at Berkeley. He has served in three national administrations, most recently as secretary of labor under President Bill Clinton. He has written eleven books, including The Work of Nations, which has been translated into 22 languages; the best-sellers The Future of Success and Locked in the Cabinet, and his most recent book, Supercapitalism. His articles have appeared in the New Yorker, Atlantic Monthly, New York Times, Washington Post, and Wall Street Journal. Mr. Reich is co-founding editor of The American Prospect magazine. His weekly commentaries on public radio's "Marketplace" are heard by nearly five million people.
As the nation's 22nd Secretary of Labor, Reich implemented the Family and Medical Leave Act, led a national fight against sweatshops in the U.S. and illegal child labor around the world, headed the administration's successful effort to raise the minimum wage, secured worker's pensions, and launched job-training programs, one-stop career centers, and school-to-work initiatives. Under his leadership, the Department of Labor won more than 30 awards for innovation. A 1996 poll of cabinet experts conducted by the Hearst newspapers rated him the most effective cabinet secretary during the Clinton administration.
Reich has been a member of the faculties of Harvard's John F. Kennedy School of Government and of Brandeis University. He received his B.A. from Dartmouth College, his M.A. from Oxford University, where he was a Rhodes Scholar, and his J.D. from Yale Law School.
4 Comments
GeeSussFreeKIn the words of Milton Friedman, Capitalism requires a self dening nature of the highest degree when it comes to government regulation. The problem here isn't capitalism, the problem is businesses being on the bad side of government legislation and they can't aford to not be there while their competitors try and pass laws that do them harm while also trying to pass favorable legislation for themselves. The real key is that the governemnt doesn't over step its bounds into the free market arena. If government wasn't as huge in determining how businesses should and can be run; then compaines wouldn't need to do such things. As it is, because of the precident established by certain (IMO) flawed government intervention and regulatory policies, lobbiests are created.
In short, lobbiests are created by government interverntion into free market economy, not the other way around. 100 years ago when the government was more just about enforcing contracts and the law, lobbiests weren't a problem. When the government went intot the business of regulating business more comprehensivly, then lobbiests were created.
Still, the lobbiest problem is a problem. But I diagree that it is a creation from capitalism, it is a creation of flawed governmental regulation. What says the sift?
NetRunner^ Friedman's answer sounds like trying to cure dandruff with a guillotine.
100 years ago when the government wasn't regulating business, there were 12 year-olds working 100 hour work weeks in factories that poisoned them.
But hey, nobody was worried about lobbyists, so let's go back to that, pronto.
dystopianfuturetoday
my15minutesgonna' have to go in the unsorted box for now.
i'd start an "economists i trust" playlist with this, but fear he'd be awfully lonely. used to catch his stuff regularly when he uploaded to vimeo.
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