Click here for an article by Robert Reich at Substack entitled "The Final Battle (The last installment of Why American capitalism is so rotten, Part 10)," subtitled "Where we're heading, and what we need to do."
It's the final installment of his 10-part series, "Why American capitalism is so rotten." Here's a list of the weekly installments:
0.Why is American capitalism so rotten?
2.What really happened to the American dream?
5.The Pernicious Myth of Meritocracy
6.Why the hell is Trump rising in the polls?
7.How America’s oligarchy has paved the road to fascism
8.How the oligarchy shrank America’s middle class
9.Resurrecting Countervailing Power
Reich says:
FOR THE LAST 10 WEEKS, we’ve been examining American capitalism and asking why the common good has been so difficult to achieve in recent decades.
We’ve seen that American capitalism is one of the harshest forms of capitalism on the planet. Its safety nets are in shreds. Its promise of equal opportunity has given way to deep cynicism and distrust toward all the major institutions of American society.
We’ve also examined the reason for this. The moneyed interests — large corporations, Wall Street financiers, and ultra-wealthy individuals — have taken over much of our politics and media. They want Americans to be divided, to fight each other, so we don’t look upward and see where all the wealth and power have gone.
At the same time, the countervailing powers that once balanced the moneyed interests have all but disappeared.
The article concludes:
I’m hopeful. Despite the anger, fear, and bigotry released by Trump, I believe we will come out of this stronger, more united, more sure of our ideals.
The arc of American history shows that when privilege and power conspire to pull us backward, we rally and move forward. Sometimes it takes an economic shock like the bursting of a giant speculative bubble. Sometimes we reach a tipping point where the frustrations of average Americans turn into action.
Look at the progressive reforms between 1900 and 1916; the New Deal of the 1930s; the civil rights struggle of the 1950s and 1960s; the widening opportunities for women, minorities, people with disabilities, and LGBTQ+ people; the environmental reforms of the 1970s and more recently under Joe Biden; and the recent resurgence of labor activism.
Look at the startling diversity of younger Americans. Most Americans now under 18 years old are Hispanic, Asian or Pacific Islander, African American, or of more than one race. In a very few years, most Americans under 30 will be. In fewer than three decades, most of America will be.
That diversity will be a huge strength. Hopefully, it will mean a more tolerant, less racist, less xenophobic society.
Our young people are determined to make America better. I’ve taught for more than 40 years, and I’ve never taught a generation of students as dedicated to public service, as committed to improving the nation and the world, as is the current generation. Another sign of our future strength.
Meanwhile, most college students today are women, which means even more women will be in leadership positions in coming years — in science, politics, education, nonprofits, and corporate suites. That will also be a great boon to America.
As I tell my students, we are the leaders we’ve been waiting for. The future is up to us.
Believe me, it's interesting reading.
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