Coming Up Short: A Memoir of My America
Robert B. Reich
Reich shows that every market is built from government rules, explains how those rules came to favor the wealthy over the middle class, and sets out how they could be rewritten so capitalism serves most people.

1 min 04 sec
If you work hard and still feel the economy is tilted against you, Robert B. Reich says the feeling is accurate, and that the cause lies in rules people wrote. In Saving Capitalism, the former official in the Ford and Carter administrations starts from a claim with large consequences: no market can exist without government. Every market runs on rules about property, monopoly, contracts, bankruptcy and enforcement, and someone decides them.
From there his argument is direct. Because those rules are political choices, and because the wealthy now have outsized say over them, capitalism has become a system that serves the few at the cost of the many. The same logic means it can be rewritten. Along the way Reich takes apart the comfortable idea that people earn what they are worth, and explains how a 1,000-person layoff in Atlantic City left its owner untouched. What you gain is a sharper habit for any debate about wages, prices or regulation: asking who wrote the rules, and for whom.
1 min 41 sec
Free-market champions and their critics argue about how much government should step in. Reich thinks both sides often miss something that was true before the first sale was ever made, and it changes what the argument is really about.
1 min 54 sec
A lifesaving drug that stays expensive for years, and a bookseller that stopped shipping one publisher’s titles. Both look like business decisions. Reich traces them back to choices made somewhere else entirely.
1 min 46 sec
A hotel closed, a thousand people lost their jobs, and the man whose name was on the building paid almost nothing for it. Reich explains which rules made that outcome possible, and who wrote them.
1 min 53 sec
A worker earning fourteen dollars an hour told Reich he did not deserve more. His reasoning sounds humble and sensible, and Reich argues it is exactly the belief that keeps the whole lopsided system standing.
1 min 51 sec
A baker once could afford a house, a car and a family. Somewhere along the way that stopped being true, even for people working full time. Reich identifies what changed, and what grew at the top instead.
1 min 38 sec
Inequality is usually debated as a question of fairness. Reich makes a harder-edged case: that past a certain point it starts breaking the machinery the wealthy themselves depend on, one small dishonest act at a time.
1 min 34 sec
The largest political group in America belongs to no party at all. Reich sees it as the starting point for a fix, paired with a tax idea that would make companies want to pay ordinary workers more.
1 min 12 sec
Reich’s book works like a new pair of glasses. Before, the economy looks like weather: wages, drug prices and layoffs simply happen to people. After, it looks like a building, put together from rules about property, monopoly, contracts, bankruptcy and enforcement, with a decision behind every wall. That change of view removes the excuse that nothing can be done. It also removes the shame of the power-plant worker who believed fourteen dollars an hour was all he deserved.
The habits that follow are modest. When you hear that the market has spoken, ask which rule spoke for it, and who lobbied for that rule. Before signing a contract, look for who chooses the arbitrator and who carries the loss if things fail. When you compare pay, remember that a chief executive once earned 20 times a typical worker and now earns more than 300 times, and human talent did not change that fast. And take part in politics, because that is where the rules get written.
Capitalism, in Reich’s telling, is worth saving. It survives only if the many get their hands back on the pen.
Many people work full time, play by the rules and still fall behind, while a small group at the top grows richer. The usual explanation is that the market decides, and the market rewards talent. Robert B. Reich, a former official in the Ford and Carter administrations, says that explanation hides the real story. His starting point is that no market exists without government. Property, monopoly, contracts, bankruptcy and enforcement are all rules that someone writes. Reich shows how each has been bent toward the very rich: drug patents renewed through loopholes, employment contracts that send complaints to arbitrators chosen by employers, bankruptcy rules that let owners walk away while workers lose everything. He takes apart the belief that people are paid what they are worth, traces the decline of unions and middle-class bargaining power, and warns that extreme concentration of wealth erodes the trust an economy depends on. Readers get a clear way to see the politics behind wages and prices, and Reich's proposals for change, from a new party of nonvoters to taxing companies by the gap between executive and worker pay.
Workers who sense the economy is tilted and want to understand exactly how.
Students and young professionals trying to make sense of debates about wages, inequality and regulation.
Voters who feel their voice counts for little and want a concrete case for changing the rules.
Robert B. Reich was born in Scranton, Pennsylvania, in 1946. He held posts in the Ford and Carter administrations and later sat on Barack Obama's economic transition advisory board. He lectured at Harvard's Kennedy School of Government, taught at Brandeis University, and joined the Goldman School of Public Policy at the University of California, Berkeley, where he is now emeritus professor. He co-founded Inequality Media and is emeritus chair of the board at Common Cause, a watchdog organization. Saving Capitalism was a best seller, and Reich also made a film with the same title alongside Jacob Kornbluth, which debuted on a streaming service in November 2017.
Robert B. Reich
Robert B. Reich
Listeners describe the work as thoroughly researched and exceptionally well-crafted, with one listener mentioning it remains approachable regardless of one's background in economics. Furthermore, the text is packed with data, and listeners value how the stimulating material encourages a broader perspective on potential solutions. The prose also earns praise; one listener points out the use of clear, straightforward language, while another listener draws attention to the book’s effective three-part organization.
Robert Reich masterfully dismantles the false choice between the 'free market' and 'government intervention' by proving the former can't exist without the latter. Most of the book provides a data-driven autopsy of how the rules of the game have been rigged by those at the top. It’s incredibly accessible. He avoids dense jargon while still managing to be profoundly thought-provoking for readers at any level of expertise. I appreciated how he explains that the market isn't a natural phenomenon like gravity, but a set of human-made laws that can be changed. While the ending felt a bit rushed compared to the deep-dive analysis of the problem, the core message remains vital. It’s a wake-up call for anyone who thinks the current concentration of wealth is just a byproduct of hard work or natural merit.
Show moreEver wonder why the rich keep getting richer while your paycheck stays the same for a decade? Reich explains the 'pre-distribution' of wealth that happens inside the market before we even talk about taxes. It’s a quick read that cuts through the noise of partisan bickering to show how lobbyists have quietly rewritten the rules. I love how he uses real-world examples like the big bank bailouts versus student debt to illustrate the double standards in our current system. It's not about being 'anti-capitalist,' it's about making sure the system actually functions for everyone, not just the top 1 percent. This is definitely a helpful little book to keep by the dinner table if you need to win an argument during Thanksgiving.
Show moreWow. This book completely changed how I view the debate over 'big government' vs. 'small government.' Reich makes it clear that the size of government isn't the issue—it's who that government is working for. The way he breaks down the five building blocks of capitalism—property, monopoly, contract, bankruptcy, and enforcement—is brilliant. It reveals how the deck is stacked against the average person through subtle changes in the law rather than just overt corruption. Personally, I found the discussion on 'benefit corporations' like Patagonia and Seventh Generation to be a rare glimmer of hope. We need a system that values stakeholders, not just shareholders, if we want to avoid total social collapse. This should be required reading for every American citizen.
Show moreFinally got around to reading this and I’m kicking myself for waiting so long. Reich’s analysis of the 'meritocratic myth' is one of the most important things I’ve read in years. It’s so easy to believe that people earn exactly what they deserve, but that ignores the massive structural advantages built into our system. The book is filled with facts that demonstrate how our current version of capitalism is actually stifling innovation by concentrating too much power in monopolies. Not gonna lie, the statistics about educational funding disparity in the US compared to other nations are depressing. But Reich’s optimism is infectious, and he makes a strong case that we’ve fixed the system before and can do it again if we find common cause.
Show moreThis book is a masterclass in clear communication. Reich doesn’t just yell about inequality; he shows you the specific gears and levers that have been shifted over the last forty years. I was particularly struck by the sections on how bankruptcy laws treat large corporations versus how they treat struggling homeowners and students. It’s a glaring example of the 'rigged' rules he talks about throughout the text. While some reviewers think the solutions section is too short, I think he provides enough of a framework to spark real conversation. In my experience, most people need to understand the problem first before they can even begin to agree on a fix. This is essential reading for anyone trying to make sense of our current political climate.
Show morePicked this up after seeing 'Inequality for All' and found the three-part structure really helpful for organizing my own thoughts on the economy. Reich is a genius at taking complex topics and making them feel like common sense, which is a rare gift in this field. Truth is, about 80% of the text is spent describing the dire state of the middle class and how we got here. It’s a compelling read, though it does get a bit repetitive after the first hundred pages or so. I was hoping for more granular, step-by-step instructions on how to actually reclaim power from the corporate elites in the final chapters. Still, for a primer on why the 'free market' is a myth, you won't find a better or more fact-filled resource.
Show moreAfter hearing Reich speak on his podcast, I knew I needed to dive into the full text of his arguments. The book is excellently written and avoids the dry, academic tone you might expect from a Berkeley professor. He does a fantastic job explaining how 'merit' is often just a cover for inherited advantage and political influence. Look, the statistics regarding CEO pay versus average worker wages are absolutely staggering and will make your blood boil. My only gripe is that the 'countervailing power' he predicts feels more like a hope than a certainty. While he draws parallels to the Gilded Age, our modern technological landscape makes the fight for reform look much more daunting today than it was during the New Deal.
Show moreAs someone who hasn't touched an economics textbook since college, I found this remarkably easy to follow and digest. Reich uses simple language to explain how 'freedom' is often used as a shield by those who already hold all the cards. The three-part layout keeps the momentum going, even when the data on wealth inequality starts to feel a bit repetitive. It’s definitely a liberal-leaning perspective, but he backs his claims with enough historical context to make even a skeptic think twice about the status quo. Frankly, the chapter on the decline of labor unions as a counterweight to corporate power was the most eye-opening part for me. It’s a solid, thought-provoking introduction to the structural issues facing our country right now.
Show moreNot what I expected given the high praise, as I felt the book spent far too much time admiring the problem and not enough time solving it. For the first two-thirds, I was totally on board with his breakdown of how the rules for property and bankruptcy favor the wealthy. The facts and data are indisputable and, frankly, quite terrifying when you see them laid out so clearly. However, the last section felt like a laundry list of idealistic wishes that didn't account for our current political gridlock. Reich is an excellent writer, but I finished the book feeling just as hopeless as when I started. It’s a great diagnosis, but the prescription feels a bit like wishing upon a star without a map for how to get there.
Show moreThe truth is, this felt more like a political manifesto than a serious economic study, despite all the citations and charts. Reich starts with the assumption that the system is 'rigged' and then cherry-picks data to support that narrative throughout the entire book. While he is certainly a gifted writer, his arguments often ignore the benefits of globalization and the complexities of modern markets. I found the 'pre-distribution' concept to be a clever way of reframing standard redistributionist policies without using the word 'taxes.' If you already agree with his politics, you'll love it, but if you're looking for an objective analysis, keep looking. It’s way too simplistic for such a massive and nuanced topic.
Show moreReich argues that free markets cannot exist without government, because every market depends on rules about property, monopoly, contracts, bankruptcy and enforcement. Those rules are political choices, and the wealthy now shape them to their advantage. The result is a form of capitalism that serves a small number of people while the many pay the price. Because the rules are made by people, Reich believes they can be rewritten to spread prosperity more widely.
Reich names property, which defines what can be owned; monopoly, which limits how much market control one company may have; contracts, which set the terms of sales; bankruptcy, which decides what happens when someone cannot pay; and enforcement, which makes sure the other rules are followed. He shows how each one now tends to favor large corporations and the very rich, from drug patents to arbitration clauses.
No. Reich calls the idea that people are worth what they earn false. Pay depends on inheritance, connections, discrimination, luck and even marriage, not just ability. Teachers, nurses and carers would earn far more if pay matched social value. And merit cannot explain why chief executives went from earning 20 times the average worker in 1965 to more than 300 times today.
Reich proposes a new political party that unites nonvoters, who were about four in ten eligible Americans in the 2012 presidential election. It would reform campaign finance, raise the minimum wage, give labor agreements priority over those with creditors and cap how large Wall Street banks can grow. He also suggests tying corporate tax rates to the gap between chief executive pay and average worker pay.
Use Reich’s lens whenever someone says the market decided a price or a wage: ask which rule produced that result and who shaped it. Read contracts for who picks the arbitrator and who bears the risk. Treat pay gaps as signs of bargaining power, not personal worth. And vote, judging candidates by the economic rules they would write.
Miles Taylor
Yanis Varoufakis
Tracy Rosenthal
Jessica Valenti
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Get the key ideas from Saving Capitalism by Robert B. Reich, plus 5,000+ more nonfiction titles.
