Cost Quote by Noam Chomsky
“As in the past, the costs and risks of the coming phases of the industrial economy were to be socialized, with eventual profits privatized ...”
About This Quote
Source Speech: Interview on Economic Policy, 1970s
The next stages of industrial development will shift costs and risks to society while profits become private, highlighting systemic inequality.
In simple terms: Future industrial growth may burden society but enrich owners.
Key Takeaway
Watch for policies that protect public welfare.
Themes
economics
inequality
industrial policy
Mood
critical
analytical
Type
political
economic
When to use this quote
- public budgeting
- regulatory reform
- corporate governance
- labor negotiations
Key Concepts
socialization
privatization
externalities
Questions to Reflect On
- How can citizens influence policy to share risks?
- What safeguards can prevent profit capture?
A Different Perspective
Implementation depends on political will and public awareness.
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