Economic system Quote by 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 instance, the International Labor Organization recently gave its latest estimate of unemployment worldwide—"unemployment" they define as meaning not having enough work to meet a subsistence level, so maybe you can sell some handkerchiefs at a street corner or something, but you don't have enough work to survive on your own. They estimate that at about 30 percent of the world's population which makes it a lot worse than the Great Depression. Alright? Now, there's a ton of work to be done in the world-everywhere you look there's work that ought to be done. And the people who don't have work would be delighted to do it. So what you've got is a huge number of idle hands, a vast amount of work that ought to be done, and an economic system that is incapable of putting those two things together. Okay, absolutely catastrophic failure.””

— Noam Chomsky