Today on my show, I talked with former Secretary of Labor Robert Reich about the broader issues behind the now-ended UAW/GM strike, and whether the paradigm has shifted for American workers when it comes to job security, healthcare benefits, and pensions.
That led us into a discussion of some of the issues in his new book, “Supercapitalism: The Transformation of Business, Democracy, and Everyday Life.” Reich says that we have become more a nation of consumers than citizens, and that capitalism in the US is stronger than ever, but democracy is weaker. To my surprise, he argues that corporate social responsibility is not only a counterproductive distraction, but also against the interests of shareholders.
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Full disclosure: my brother Seth was a special assistant to Reich at the Labor Department for several years.