Tyler Cowan offers some generally positive thoughts on former Labor Secretary Robert Reich’s new book, Supercapitalism: The Transformation of Business, Democracy, and Everyday Life. Consider this passage from the book:
Finally, I will come to some conclusions you may find surprising — among them, why the move toward improved corporate governance makes companies less likely to be socially responsible. Why the promise of corporate democracy is illusory. Why the corporate income tax should be abolished. Why companies should not be held criminally liable. And why shareholders should be protected from having their money used by corporations for political purposes without their consent.
Now, back when Reich was Labor Secretary, his department was actually promoting the concept of “social investing” by corporations, along with lots of other loony left ideas. So, he really has come a long way. As Cowan notes, “Reich is willing to rethink just about all the old left-wing shibboleths (what a biased word) about corporations.” So, you may want to consider this book when you’re compiling that holiday wish list.