Can American Capitalism Survive? Why Greed Is Not Good, Opportunity Is Not Equal, and Fairness Won’t Make Us Poor

This unsatisfying survey of contemporary American capitalism takes a sharply critical tack toward the “winner take all” philosophy that Pearlstein, a Pulitzer-winning Washington Post columnist, sees as dominating the U.S. for the past 30 years. A shortsighted fixation on maximizing shareholder value, Pearlstein contends, has shortchanged the country’s economy in the long run. To prove the point, he explores the various problems created by inequality (unequal access to education, the distortion of the political process by donors, limited economic opportunity) in what he sees as a developing plutocracy. Though Pearlstein is thoughtful and sincere, he isn’t plowing any new ground. Moreover, short of a Bernie Sanders presidency, it’s difficult to imagine any of Pearlstein’s solutions (explored in the final chapter, “A Better Capitalism”) being implemented any time soon. His suggestions include limiting special interest money in politics, establishing universal basic income, sharing profits with employees, equalizing educational opportunity, and restoring competition. Since none of these solutions is currently politically feasible, the bulk of the book comes across as an ineffectual rant on contemporary injustices. (Sept.)