SOCI 110 Study Guide - Final Guide: Meritocracy
Document Summary
Reich"s book is very much about pulling apart some of these foundational assumptions, about markets, about politics and about social change. His solution: an activist government raises taxes on the wealthy, invests the proceeds in schools and other means people need to get ahead, and redistribute to the needy. There can be no "free market" without government. He thinks patents and monopolies can be useful for new inventions. But its always the result of rules and regulations. It is good when its for greater good of public, not just for the company: money and power are linked. Private property is the most important building block of free market capitalism. Patents- higher pro ts for corporate, less access, higher costs to consumers. Ceos are not paid what they are worth. If we pay people more, people would lose jobs because the employers would not have money to pay everyone. Reich does not believe people are paid what they are worth.
