Economics Quotes by Noam Chomsky

A tremendous amount of the entrepreneurial initiative, if you want to call it that, comes from the dynamic state sector on which…

— Noam Chomsky

In the major state capitalists economies, Europe and the US, it's low growth and stagnation and a very sharp income differentiation a…

— Noam Chomsky

As in the past, the costs and risks of the coming phases of the industrial economy were to be socialized, with eventual…

— Noam Chomsky

All public resources go to the rich. The poor, if they can survive in the labor market, fine. Otherwise, they die. That's…

— Noam Chomsky

Capitalism’s concept of competitive man who seeks only to maximize wealth and power, who subjects himself to market relationships, to exploitation and…

— Noam Chomsky

“The advertising industry's prime task is to ensure that uninformed consumers make irrational choices, thus undermining market theories that are based on…

— Noam Chomsky

If you take an economics or a political science course, you're taught that humans are supposed to be rational wealth accumulators, each…

— Noam Chomsky

Roughly speaking, I think it's accurate to say that a corporate elite of managers and owners governs the economy and the political…

— Noam Chomsky

In the moral calculus of currently prevailing state capitalism, profits and bonuses in the next quarter greatly outweigh concern for the welfare…

— Noam Chomsky

“One should attend carefully to the fear and desperation of the powerful. They understand very well the potential reach of the "ultimate…

— Noam Chomsky

What is called 'capitalism'is basically a system of corporate mercantilism, with huge and largely unaccountable private tyrannies exercising vast control over the…

— Noam Chomsky

Predatory capitalism created a complex industrial system and an advanced technology; it permitted a considerable extension of democratic practice and fostered certain…

— Noam Chomsky

The dominant propaganda systems have appropriated the term "globalization" to refer to the specific version of international economic integration that they favor,…

— Noam Chomsky

Capitalism is based on the principle that everything has to be privately owned; it can't be held in common. There is even…

— Noam Chomsky

There was a time traditionally - say, GM in the 1950s - it was trying to develop a consumer base that would…

— Noam Chomsky

The main purpose of advertising is to undermine markets. If you go to graduate school and you take a course in economics,…

— Noam Chomsky

“Both political parties have moved to the right during the neoliberal period. Today’s New Democrats are pretty much what used to be…

— Noam Chomsky

The dominant propaganda systems have appropriated the term "globalization" to refer to the specific version of international economic integration that they favor,…

— Noam Chomsky

“The economic system barely functions as it is—I mean, the contemporary economic system is a complete catastrophe, an absolutely catastrophic failure. For…

— Noam Chomsky

“Well, it's been obvious for centuries that capitalism is going to self-destruct: that's just inherent in the logic of system―because to the…

— Noam Chomsky

“First of all, we've never had capitalism, so it can't end. We have some variety of state capitalism. If you fly on…

— Noam Chomsky

“Well, it depends which planned economies you mean. There are lots of planned economies―the United States is a planned economy, for example.…

— Noam Chomsky

...free enterprise, [is] a term that refers, in practice, to a system of public subsidy and private profit, with massive government intervention…

— Noam Chomsky

A basic principal of modern state capitalism is that costs and risks are socialized to the extent possible, while profit is privatized.

— Noam Chomsky

From the 1970s, there has been a significant change in the US economy, as planners, private and state, shifted it toward financialization…

— Noam Chomsky

Worker ownership within a state capitalist, semi-market system is better than private ownership but it has inherent problems. Markets have well-known inherent…

— Noam Chomsky

Nothing in these abstract economic models actually works in the real world. It doesn't matter how many footnotes they put in, or…

— Noam Chomsky

As far as Marx's analysis of capitalism, there's a lot of very useful ideas in it, but he's developing an abstract model…

— Noam Chomsky

Capitalism would self-destruct in no time. So the business classes have always demanded strong, straight intervention to protect the society from the…

— Noam Chomsky

Under capitalism, we can't have democracy by definition. Capitalism is a system in which the central institutions of society are in principle…

— Noam Chomsky

In the humanities and social sciences, and in fields like journalism and economics and so on, people have to be trained to…

— Noam Chomsky

“[...] in a predatory capitalist economy, state intervention would be an absolute necessity to preserve human existence and to prevent the destruction…

— Noam Chomsky

Bear in mind that capitalism is a tiny period of human society. You never really had capitalism, you always had one or…

— Noam Chomsky

We had one or another form of state capitalism during an extremely brief period of human history, which tells us essentially nothing…

— Noam Chomsky

“The economic consequences of these policies have been the same just about everywhere, and exactly what one would expect: a massive increase…

— Noam Chomsky

Why not stakeholder action? There's no economic principal that says that management should be responsive to shareholders, in fact you can read…

— Noam Chomsky

At the peak of the so-called great success of neoliberal economics, in 2007, right before the crash, non-supervisory workers were at wages…

— Noam Chomsky

“It [predatory capitalism] is incapable of meeting human needs that can be expressed only in collective terms, and its concept of competitive…

— Noam Chomsky