Noam Chomsky Quotes About Economy
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In the major state capitalists economies, Europe and the US, it's low growth and stagnation and a very sharp income differentiation a shift - a striking shift - from production to financialization.
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When Reagan left office, he was the most unpopular living president, apart from Nixon, even below Carter. If you look at his years in office, he was not particularly popular. He was more or less average. He severely harmed the American economy.
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...free enterprise, [is] a term that refers, in practice, to a system of public subsidy and private profit, with massive government intervention in the economy to maintain a welfare state for the rich.
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Students who acquire large debts putting themselves through school are unlikely to think about changing society. When you trap people in a system of debt, they can't afford the time to think. Tuition fee increases are a disciplinary technique, and by the time students graduate, they are not only loaded with debt, but have also internalized the disciplinarian culture. This makes them efficient components of the consumer economy.
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Globalization is the result of powerful governments, especially that of the United States, pushing trade deals and other accords down the throats of the world’s people to make it easier for corporations and the wealthy to dominate the economies of nations around the world without having obligations to the peoples of those nations.
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Roughly speaking, I think it's accurate to say that a corporate elite of managers and owners governs the economy and the political system as well, at least in very large measure.
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I was in Mexico City. It's a very pleasant city in many ways. It's vibrant, lively, pretty exciting society, but also depressing in other ways, and sometimes almost hopeless, you know. So it's a combination of vibrancy and, I wouldn't say despair, but hopelessness, you know. Doesn't have to be, but it is. I mean, there is almost no economy.
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Before the 1970s, banks were banks. They did what banks were supposed to do in a state capitalist economy: they took unused funds from your bank account, for example, and transferred them to some potentially useful purpose like helping a family buy a home or send a kid to college.
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A tremendous amount of the entrepreneurial initiative, if you want to call it that, comes from the dynamic state sector on which most of the economy relies to socialize costs and risks and privatize eventual profit. And that's achieved by, if you like, advertising.
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If Palestinian Authority refuse to join the US-run negotiations, their basis for support would collapse. They survive on donations essentially. Israel has made sure that it's not a productive economy.
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As in the past, the costs and risks of the coming phases of the industrial economy were to be socialized, with eventual profits privatized.
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Silicon Valley, after all, feeds off the existence of computers, the internet, the IT systems, satellites, the whole of micro electronics and so on, but a lot of that comes straight out of the state sector of the economy. Silicon Valley developed, but they expanded and turned it into commercial products and so on, but the innovation is on the basis of fundamental technological development that took places in places like this [MIT] on government funding, and that continues.
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[There is] is all part of the whole neoliberal shift in the economy. But the parties have shifted to the right.
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The dominant propaganda systems have appropriated the term "globalization" to refer to the specific version of international economic integration that they favor, which privileges the rights of investors and lenders, those of people being incidental. In accord with this usage, those who favor a different form of international integration, which privileges the rights of human beings, become "anti-globalist."
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The military has a huge role in the economy [of Pakistan] with big stakes and, as you say, it has constantly intervened to make sure that it keeps its hold on policy making. Well, I hope, and there seem to be some signs, that the military is taking a backseat, not really in the economy, but in some of the policy issues. If that can continue, which perhaps it will, this will be a positive development.
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What is called 'capitalism'is basically a system of corporate mercantilism, with huge and largely unaccountable private tyrannies exercising vast control over the economy, political systems, and social and cultural life, operating in close cooperation with powerful states that intervene massively in the domestic economy and international society.
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In our society, real power does not happen to lie in the political system, it lies in the private economy: that’s where the decisions are made about what’s produced, how much is produced, what’s consumed, where investment takes place, who has jobs, who controls the resources, and so on and so forth. And as long as that remains the case, changes inside the political system can make some difference-I don’t want to say it’s zero-but the differences are going to be very slight.
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From the 1970s, there has been a significant change in the US economy, as planners, private and state, shifted it toward financialization and the offshoring of production, driven in part by the declining rate of profit in domestic manufacturing.
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