The deeper I go into Gibney’s book, A Generation of Sociopaths, the more I find to disagree with. Once again, I think he might have been better off noting the role sociopathy (which has always been inherent in America’s embrace of individualism (seems to be playing in the current political climate while noting the extent to which it seems to have accelerated under boomer dominance. As written, his condemnation of the boomer generation often comes off as one-sided to the point of compromising his otherwise articulate and comprehensive understanding of recent history. For instance, he accurately describes the important advances America made running from the New Deal to the 70’s: advances in social, racial, and economic justice as well as government financed advances in research, science, and technology and a major improvement in infrastructure. And I would also agree that a lot of it did get pissed away under the boomer’s watch.
At the same time, I think Gibney would benefit heavily from a reading of Robert Reich’s book on SuperCapitalism in which he points out that a lot of what occurred from the 80’s on was inevitable due to advances in technology. As Reich compellingly points out, what happened in the golden age that Gibney describes (or the not-so-golden age as Reich calls it: since it was mainly white males who were benefitting (will try to get to this later (was the result of the oligopolies that existed in those days. As anyone near or beyond my age remembers, those were days when most markets were dominated by one, two, at most three corporate entities. Cars, for instance, were dominated by Ford, Chrysler, and GM. TV was dominated by ABC, NBC, and CBS. And communications were dominated by Ma Bell. Under those circumstances, companies had the leeway to act as social ambassadors that could tolerate union demands, progressive taxes, and social safety nets.
But as technologies in transportation and communication advanced, these companies found themselves faced with increasing competition. And the corporation’s main reason to be is the satisfaction of the customer for the sake of its stockholders. There’s no way around that. We simply cannot expect corporations to act as moral agents. That is the job of government.
And given this, we can see that what Gibney attributes to the sociopathy of boomers may actually be the inevitable result of the inherent sociopathy of Capitalism –something Gibney conveniently dances around. And why wouldn’t he? Given his background as a lawyer, hedge fund manager, and venture capitalist?