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Well, our economic system "works," it just works in the…

“Well, our economic system "works," it just works in the interests of the masters, and I'd like to see one that works in the interests of the general population. And that will only happen when they are the "principal architects" of policy, to borrow Adam Smith's phrase. I mean, as long as power is…” quote by Noam Chomsky
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““Well, our economic system "works," it just works in the interests of the masters, and I'd like to see one that works in the interests of the general population. And that will only happen when they are the "principal architects" of policy, to borrow Adam Smith's phrase. I mean, as long as power is narrowly concentrated, whether in the economic or the political system, you know who's going to benefit from the policies―you don't have to be a genius to figure that out. That's why democracy would be a good thing for the general public. But of course, achieving real democracy will require that the whole system of corporate capitalism be completely dismantled―because it's radically anti-democratic. And that can't be done by a stroke of the pen, you know: you have to build up alternative popular institutions, which could allow control over society's investment decisions to be moved into the hands of working people and communities. That's a long job, it requires building up an entire cultural and institutional basis for the changes, it's not something that's just going to happen on its own. There are people who have written about what such a system might look like―kind of a "participatory economy," it's sometimes called. But sure, that's the way to go, I think.””

Noam Chomsky

About This Quote

This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.

The current economic system benefits a small elite; true democracy requires dismantling corporate capitalism and building participatory institutions controlled by workers and communities.

In simple terms: Current system favors elites; democracy needs worker‑run institutions.

Key Takeaway

Empower people to shape economic policy.

Themes

democracy economic justice participatory economics power concentration institutional change

Mood

critical hopeful determined

Type

political philosophical activist

When to use this quote

  • policy design
  • community budgeting
  • co‑ops
  • public ownership
  • grassroots organizing

Key Concepts

Adam Smith principal architects corporate capitalism alternative institutions cultural shift

Questions to Reflect On

  • How can ordinary people gain real control over economic decisions?
  • What obstacles exist to building participatory institutions?
A Different Perspective

Changing deep structures is slow and faces entrenched resistance.

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