The first chapter of Robert Reich's new book, Supercapitalism, is available to read at alternet.org now. In it, Reich makes some challenging points. His thesis is that the new deregulated, global economy benefits consumers at the expense of workers. With Wal-Mart as his primary example, he lists many of the products whose prices have been significantly reduced by technology, regulatory retrenchment, and presumably deunionization or the lack or unionization in new industries. Better jobs may mean higher prices. Provocative stuff, particularly given the author's credentials. I'm pretty convinced now that I'm going to pick up a copy of the book, because I'm hoping he'll answer a few questions. First, which goods would be more expensive under greater governmental intervention and unionization? It isn't obvious that all prices would go up uniformly. For instance, if prices go up too much on certain types of food, people may stop buying them, or seek out better deals elsewhere. But let's say prices go up on futons or plasma-screen TVs to offset new costs. People with lots of flexibility in their discretionary income might not care and still buy that stuff. Second, Reich advocates for large transfers of wealth through tax and budget bills. What's the political feasibility of such massive transfers, as compared to transfers achieved by intervention? How does Reich propose we pursue either? Third, how much has deregulation contributed to increasing prices? Health care is a great example of where regulations might lower prices. But if we accept Reich's premise, will lower prices in health care hurt workers in that field? How would those costs be distributed among health care workers, or any other profession where costs have been going up? Interesting stuff, nonetheless.