Saving Capitalism

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Book excerpt: The prevailing view -- The five building blocks of capitalism -- Freedom and power -- The new property -- The new monopoly -- The new contracts -- The new bankruptcy -- The enforcement mechanism -- Summary : the market mechanism as a whole -- The meritocratic myth -- The hidden mechanism of ceo pay -- The subterfuge of Wall Street pay -- The declining bargaining power of the middle -- The rise of the working poor -- The rise of the non-working rich -- Reprise -- The threat to capitalism -- The decline of countervailing power -- Restoring countervailing power -- Ending upward distribution -- Reinventing the corporation -- When robots take over -- The citizen's bequest -- New rules