Apr
29
Supercapitalism: The Transformation of Business, Democracy, and Everyday Life is a new book by Robert Reich, former Labor Secretary under Clinton. If you listen to NPR’s Morning Edition or American Public Media’s Marketplace, you’ve probably heard one of his commentaries.
The book delves into the development of US economy during the last century, mostly since the 1950s. His central argument is that the power and influence of capitalism has risen while the power of democracy has declined. We’ve now reached a point where most laws and regulations are passed due to corporate lobbying. Our power as citizens now lies mostly in our ability to make decisions as consumers. He also argues that our never-ending search for a better deal or a lower price forces producers to cut costs, which usually means cutting wages. We’ve created an endless circuit where our search for deals results in the decline of our own wages.
He offers two solutions to the problem:
Become aware of your choices as a consumer and consider paying more to support a company that supports your values. For example, saying you want corporations to help the planet, and then buying an SUV rather than a hybrid undermines your statement of your values and encourages corporations to continue supporting the SUV lifestyle.
Realize that corporations are not people, and therefore should not have the same rights or responsibilities as people. They should also not be expected to act in ways that are “socially responsible.” Corporations are solely charged with producing profits for shareholders. They will only act in the public good when it benefits the bottom line. Pretending anything else is foolhardy. He argues that corporations should not pay tax, but they also shouldn’t have the right to sue to block legislation or be able to donate money to political parties or candidates.
With these concepts in mind, we turn to the articles in the Festival of Frugality. True, we’re all still interested in the deal, but most frugal people understand that being frugal sometimes means spending more to get a better value for a better product or to achieve the kind of world you want to live in.
Editor’s Picks
Money Blue Book manages to find the upside to higher gas prices – less traffic and more use of public transportation.
Mrs. Nespy’s World runs down the job benefits that can be a deciding factor for prospective employees. It pays to treat employees well.
Cheap Healthy Good explains why diet foods are actually not good for your weight or health and suggests ways to eat more healthfully instead.
Frugal Homemaker Plus discusses the importance of teaching children about frugal values early.
Just Shoot Me Now shows you how to outwit the stores by always checking the unit price. Bigger isn’t always cheaper.
Credit Addict explains how to combine the stimulus checks, grocery gift cards, and rebate credit cards to save loads on groceries.
Saving Money
The Digerati Life shares 25 tips for saving money with grocery coupons.
Save and Conquer explains how home health remedies can save you lots of money.
FIRE Finance shares the top five freebie websites.
Funny about Money shares his cost-effective home renovation strategies.
I Create for Less shares her tips for saving money on framing art.
Home Life Weekly explains how to make dishwasher detergent.
Monroe on a Budget shares how she learned to love iced tea, the money-saving alternative to soda.
On Financial Success shares his astounding $92 savings on a $122 grocery bill.
Gagazine offers helpful tips for saving money on baby items.
I Want Better Gas Mileage argues that premium gasoline isn’t always worth the cost.
Free Money Finance shares more ways to save money on wedding costs.
Be Thrifty Like Us explains how to make a $19 swingset.
Finally Frugal switched from rice to Top Ramen to save money.
My Daily Dollars explains how to make homemade crackers.
Buxr explains what refurbished really means, and how to buy refurbished items.
The Financial Engineer discovered a way to stop roots from clogging his pipes – thus avoiding a costly plumber.
Lazy Man and Money explains how members of the military can take nearly free vacations.
Wealth Junkies shares her strategies for saving money with coupons.
Stop the Ride offers a simple tip for making your own plastic scrubber.
Living the Cheap Life provides a tip for earning money without doing anything.
Smart Easy Money shares her love of thrift-store shopping.
Hustler Money Blog offers 10 quick ways to save money.
Finance Gets Personal argues that you can save money by planning ahead and shopping less.
Blueprint for Financial Prosperity lists sales tax holidays for various states. Plan to shop then so you can save money on sales tax.
Money Ning discusses occasions when saving money shouldn’t be your goal.
Dough Roller offers 25 ways to save money on gas.
Frugality
The Wealth Accumulator compares consumerism and thrift, and shares tips for becoming more thrifty.
My Family’s Money presents five deceptively simple ways to change your saving habits.
Saving Advice wonders why more faith communities don’t promote simple living.
FinancialZip suggests four ways to make more intelligent spending choices.
Tight Fisted Miser explains that tracking every penny is his way of budgeting and controlling spending.
Moolanomy shares his top 5 budget busters.
Frugal Fabulous proves that it is possible to entertain friends on a budget.
Five Cent Nickel continues the ongoing debate about frugal vs. cheap.
My Small Cents demonstrates that being organized can save money.
Cash Money Life tells you how to extend the life of your computer.
You Might As Well Burn $5 suggests ways to create your own financial windfall.
Freezing in NH discovered the joys of making and freezing her own toaster waffles.
Green Living
Gardeners Tips brings us money saving advice from the garden. Growing your own food is a surefire way to ease the impact on your wallet while also helping create a more sustainable world.
Oh My Aching Debts shares tips for saving money with alternative forms of energy.
The Q Family Adventure shares her tips for saving cash and the planet.
Not the Plan offers more tips for saving money while going green.
Green Pastures wonders how long you could go without buying something new and offers strategies for buying less and reusing more.
Paid Twice also makes the argument for reusing perfectly good items.
Paying Off My Future found new uses for junk mail envelopes.
Money Crashers offers ten inexpensive ways to live a greener life.
Frugal Babe shares her success with homemade diapers.
Hunting Happiness explores the new all-electric Chevy Volt and whether it can save money.
Planning
Phil for Humanity argues that not planning ahead is stupid, and explains why. Robert Reich would agree.
The Personal Financier teaches us how to enjoy budgeting and saving.
Chief Family Officer explains how to choose a college by comparing the costs.
Uncommon Cents offers another take on managing college costs.
Christian Personal Finances teaches us the simplest way to make a budget.
Financial Learn walks you through the process of setting up a budget.
Miscellaneous
KC Lau reviews a book on insurance for Malaysians, but he also includes a few tips that are helpful for everyone.
WenchyPoo argues that shortages and inflation are stealth tax increases. Robert Reich would agree.
Forex Trading Strategies shares strategies for knowing when it’s time to get out of a stock.
My Dollar Plan shares her found money success - an unclaimed bank account.
Saving to Invest presents the hard numbers about the rise in food costs.
Squawkfox offers several strategies for improving your education for less.
I hope you enjoyed this week’s Festival of Frugality. Be sure to submit to next week’s festival, hosted by Frugal for Life.
Comments
39 Responses to “Festival of Frugality #123: The Supercapitalism Edition”
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Wow…thanks for including me as an editor’s pick! I’m honored. Also, I found a LOT of good articles here! Thanks again!
[...] Festival of Frugality #123 hits Sound Money Matters this week! Scroll down past the book review to get to those meaty articles.
There were 6 editor’s picks this week: [...]
[...] This article was featured in the Festival of Frugality hosted bySound Money Matters. [...]
Thanks for including my post in the festival.
Regarding the book, Reich’s two solutions sound fairly reasonable. Although, I’m not sure it’d be a good idea to stop businesses from having a legal option to protect themselves from malicious regulation.
The government has a long record of going after businesses. It seems a little farfetched to expect stock holders to sue the government when their businesses/investments are being attacked.
I was actually surprised by the suggestions you highlighted. His title suggested his views would be more ideological. After all, the title and his thesis confuses capitalism (economic freedom) with politics (what bureaucrats, politicians, and businesses do).
Businesses will always seek to bludgeon their competitors with the government (play politics) as long as the government continues to get involved in our private lives.
[...] post was included in the Festival of Frugality, hosted by Sound Money Matters.) Possibly related posts: (automatically generated)Prioritizing Your [...]
Thank you for hosting, and thank you for including my article, How Long Could You Go Without Buying Something New?
http://greenerpastures.responsiblepersonalfinance.com/2008/04/25/how-long-could-you-go-without-buying-something-new/
I’ve posted the Festival in my Blog Carnivals of the Week as well.
Best, Lisa
[...] Money,Save the Planet, By Not Having Kids.” The Festival of Frugality is being hosted at Sound Money Matters. It includes my post “Tracking Every Penny and My Non-Budget.” There are plenty of [...]
Thanks very much for hosting and for including my post.
Robert Reich’s take on capitalism and the economy is interesting. I’m not sure which large companies that I do business with support my values, but I have found that mom-and-pop places sometimes give you better quality and more for your money.
[...] carnival is up today: the Festival of Frugality at Sound Money Matters. You’ll find my frugal recipe for homemade crackers and lots of other [...]
Thank you for hosting and including my post!
[...] Money Matters is hosting the April 29 edition of Festival of Frugality. Here are some of the frugal lifestyle articles you’ll find from bloggers across the [...]
Thanks for including my post. Great to discover your blog as well. Andy
[...] Festival of Frugality #123 hosted by Sound Money Matters. For more information please visit the Festival of [...]
[...] – My Biggest Budget Busters was featured in the Festival of Frugality #123 hosted by Sound Money [...]
[...] Festival of Frugality is up at Sound Money Matters. Lots of good ideas and entertaining reading. I completely agree [...]
[...] and Festivals, Links I’d like to extent my warmest aloha to those of you visiting us this week from the Festival of Frugality, hosted by Sound Money Matters. Please enjoy your [...]
Thanks for hosting.
[...] Festival of Frugality #123: The Supercapitalism Edition included Are You Missing Some Money? [...]
[...] article, Home Health Remedies, has been listed in the Festival of Frugality #123. Aryn at Sound Money Matters has an interesting theme for the festival, Supercapitalism, where she [...]
[...] Festival of Frugality #123 – Hosted by Sound Money Matters and featuring my post Use MyPoints and eke out a few bucks for doing nothing. [...]
[...] Festival of Frugality #123: The Supercapitalism Edition – Hosted this week by Sound Money Matters [...]
[...] Frugality [...]
[...] credit card debt was included over at Money-Hacks.com. This week Know The Ledge was absent from the Festival of Frugality, but it’s still a great weekly read that you should frequent as I do. Thanks again to [...]
Thank you for including my post! I have linked back via: Carnivals
[...] Festival of Frugality #123, The Supercapitalism Edition was held at Sound Money Matters. My article, Frugal Tips to Extend Your Computer’s Life, was [...]
[...] Festival of Frugality #123, The Supercapitalism Edition was held at Sound Money Matters. My article, Frugal Tips to Extend Your Computer’s Life, was [...]
[...] The Festival of Frugality was at Sound Money Matters [...]
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[...] Linklet – I’m Feeling the Love! May 5, 2008 — BeThisWay The Festival of Frugality was hosted over at Sound Money Matters this week. I’m honored that they chose my post Bigger [...]
Hey! I finally managed to get into this! Thanks for the link to Funny’s rumination on the most cost-effective ruminations.
I’ve linked back to this festival in today’s “Moments of Fame” post.
[...] week was hosted by Sound Money Matters and next week is hosted by Quest for Four Pillars- get your entries in for next week. Just so you [...]
[...] Sound Money Matters featured One Great Potential Benefit Of Higher Gas Prices – Less Traffic! (Editor’s pick) [...]
[...] Festival of Frugality, #123 at Sound Money Matters begins Tuesday 4/29. My submission- How Long Could You Go Without Buying Something New? Favorites- [...]
[...] 123rd Festival of Frugality was the Super Capitalism edition at Sound Money Matters! I participated with my post on being [...]
[...] Money Matters hosted the Festival of Frugality which contained my article on the rise in food [...]
[...] yeah! I forgot to link to this week’s Festival of Frugality, which is over at Sound Money Matters. Hurry! (Uh, when you’re done [...]