Robert B. Reich Interview

Robert B. Reich discusses his book Supercapitalism: The Transformation of Business, Democracy, and Everyday Life. The United States economy has soared since the 1970s. We have access to new products (computers and iPods, hybrid cars and high-tech shoes, web movies and vegan frozen dinners. The quality of the goods we buy is, on average, up; the cost of these items is, on average down. But there is a downside to this progress. Capitalism has invaded democracy. The negative consequences of this “supercapitalism” loom large: workers are forced to resign themselves to flat or declining wages and reduced job security. As chain stores such as Wal-Mart and Home Depot harness the power of the consumer, our main streets are ravaged and towns and cities suffer a loss of community. Outsourcing has gone from a possibility to a reality. So what to so? Reich has the answer, and it lies in a return of power to democracy: what he calls "a system for accomplishing what can only be achieved by citizens joining together with other citizens — to determine the rules of the game whose outcomes express the common good." Reich is professor of public policy at the University of California at Berkeley, and former US labor secretary. Recorded October 16, 2007