Supercapitalism (Robert B Reich)

• Author: Rebecca Lewis
• Position: Is a third year student at the University of Victoria, Faculty of Law, and will be articling with Fraser Milner Casgrain LLP (Calgary) in June 2008
• Pages: 105-109

APPEAL VOLUME 13 n 105

BOOK REVIEW

SUPERCAPITALISM: THE TRANSFORMATION OF

BUSINESS, DEMOCRACY, AND EVERYDAY LIFE

BY ROBERT B. REICH

Reviewed By Rebecca L. Lewis*1

CITED: (2008) 13 Appeal 105-108

On one of my voyages across the Strait of Georgia, I came across the review “The Good

Company” in the Business section of the September 8th – 14th issue of The Economist, a review

of the book Supercapitalism by Robert B. Reich. The review highlighted the book’s focus on

corporate social responsibility. Reich formerly held the view that social responsibility and prof‌its

converged over the long term; however, the book outlines the author’s shift in view that corpo-

rate social responsibility, as commonly def‌ined by the public, no longer exists in the contempo-

rary economic realm. This review tickled my curiosity and I decided to see exactly how and why

Robert Reich came to his conclusions in his new book Supercapitalism.

Robert B. Reich is a professor of public policy at the Goldman School of Public Policy at

the University of California at Berkley. He served as the Secretary of Labor in the Clinton ad-

ministration from 1993 – 1997. In 2003, Reich was honoured with the Václav Havel Founda-

tion Prize for pioneering work in economic and social thought. Supercapitalism, his eleventh

book, embodies his view of the ever changing American society, its economy and the nation’s

democracy.

Supercapitalism consists of a brief introduction and six substantive chapters (the sixth serv-

ing somewhat as a conclusion of Reich’s opinions). The f‌irst two chapters focus on the history

of the economy and democracy, and its evolution over the nineteenth and twentieth centuries.

Following this in depth account of the journey towards the twenty-f‌irst century, the third chap-

ter illustrates the conf‌lict Americans must now face in their different roles as consumers/inves-

tors and concerned citizens. Chapter four of the book outlines how the changes in the economy

are affecting democracy. This is where Reich focuses on the inf‌luence “super corporations” are

having on the policies adopted by the American government. Chapter f‌ive, the focus of the

review in The Economist, is where Reich challenges the continued existence of corporate social

responsibility. The book concludes with a chapter Reich refers to as a “guide” through this new

era of “supercapitalism”. This chapter acts less as a guide and more as a summary of his views

from earlier chapters.

Overall, Supercapitalism is a well thought out work that provides the reader with valuable

information and illuminates some important issues affecting American society. It is well written.

* Rebecca L. Lewis is a third year student at the University of Victoria, Faculty of Law, and will be articling with

Fraser Milner Casgrain LLP (Calgary) in June 2008.