Posts by robert

Years ago, we assumed that capitalism and democracy went hand in glove, that capitalism almost inevitably led to democracy and vice versa. Now we cannot be so sure.

China has become a hotbed of capitalism but it is not a democracy by any stretch. Nor Singapore. Russia calls itself a democracy, and it is practicing a form of capitalism, but few would agree that its democracy is robust.

Indeed, even in the United States, as I noted this morning, capitalism has burgeoned over the last thirty years -- into what I call "Supercapitalism" in my new book by that name -- but democracy has become far less capable of reflecting what we want or need to do together, as citizens.

Let me first introduce myself. I'm Robert Reich. I currently teach public policy at the University of California at Berkeley. I've served in several administrations in Washington, most recently as Bill Clinton's secretary of labor.

Also written a number of books about democracy and politics -- the most recent of which came out last week, entitled "Supercapitalism." I'd be very interested in others' reactions to its main thesis, which can be stated quite simply: The United States and many other advanced economies once assumed that democracy and capitalism went hand in hand. Yet since the 1970s, they seem to have diverged. Capitalism has soared, in the sense that consumers have been treated to a vast array of new products -- personal computers, iPods, antidepressants, hybrid cars, to name just a few -- while the prices of standard goods and service have declined, adjusted for inflation. Companies have also become far more efficient and stock markets have surged. And yet, these gains have been accompanied by widening inequalities of income and wealth, heightened job insecurity, and
environmental hazards such as global warming.