--- title: "Meaning & Key Takeaway of: There was a time traditionally - say, GM…" description: "\"There was a time traditionally - say, GM in the 1950s - it was trying to develop a consumer base that would be loyal and lasting and they were thinking..." image: "https://sms4smile.com/quotes/i/d71/noam-chomsky-42_bankers_there-was-a-time-traditionally-say-gm-in_1723675.jpg" --- # There was a time traditionally - say, GM in the 1950s - it… ![“There was a time traditionally - say, GM in the 1950s - it was trying to develop a consumer base that would be loyal and lasting and they were thinking in terms of an institution that would remain and grow and thrive in the society. By now, a lot of the investment firms - bankers, hedge funds…” quote by Noam Chomsky](https://sms4smile.com/quotes/i/d71/noam-chomsky-42_bankers_there-was-a-time-traditionally-say-gm-in_1723675.jpg) [Download](https://sms4smile.com/quotes/i/d71/noam-chomsky-42_bankers_there-was-a-time-traditionally-say-gm-in_1723675.jpg) [Open image](https://sms4smile.com/quotes/i/d71/noam-chomsky-42_bankers_there-was-a-time-traditionally-say-gm-in_1723675.jpg) > “There was a time traditionally - say, GM in the 1950s - it was trying to develop a consumer base that would be loyal and lasting and they were thinking in terms of an institution that would remain and grow and thrive in the society. By now, a lot of the investment firms - bankers, hedge funds - are perfectly happy to destroy what they're in and come out with huge, tremendous benefits. That's a new stage of capitalism.” [Noam Chomsky](https://sms4smile.com/quotes/author/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 quote contrasts past corporate loyalty with modern finance’s willingness to dismantle companies for profit, indicating a shift toward destructive capitalism. **In simple terms:** Old firms built loyalty; now firms destroy for gain. Key Takeaway Recognize and resist destructive financial practices. Themes capitalism corporate ethics financial markets societal impact Mood critical concerned Type analytical political When to use this quote - investment strategy - policy making - public advocacy - corporate governance Key Concepts institutional decay short-term profit systemic risk Questions to Reflect On - How does this shift affect ordinary workers? - What policies could curb destructive capitalism? A Different Perspective Destruction can yield short-term gains but harms long-term stability and trust. ★ ★ ★ ★ ★ No ratings yet [Bankers](https://sms4smile.com/quotes/about/bankers/) [Capitalism](https://sms4smile.com/quotes/about/capitalism/) [Consumers](https://sms4smile.com/quotes/about/consumers/) [Economics](https://sms4smile.com/quotes/about/economics/) [Institutions](https://sms4smile.com/quotes/about/institutions/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investment](https://sms4smile.com/quotes/about/investment/) [Stage](https://sms4smile.com/quotes/about/stage/) [Thinking](https://sms4smile.com/quotes/about/thinking/) [Time](https://sms4smile.com/quotes/about/time/) ## Related quotes > [We are not only one of the largest investment firms but also one of the best performing.](https://sms4smile.com/quotes/john-paulson/we-are-not-only-one-of-the-largest-investment-firms-but-also-one-of/) [John Paulson](https://sms4smile.com/quotes/author/john-paulson/) > [I've heard that one-half of the students at elite schools want to go into private equity or hedge funds. They want to keep up…](https://sms4smile.com/quotes/charlie-munger/i-ve-heard-that-one-half-of-the-students-at-elite-schools-want-to-go/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [These masters of the universe must be tamed in the interests of the ordinary families whose jobs and livelihoods are being put at risk...…](https://sms4smile.com/quotes/vince-cable/these-masters-of-the-universe-must-be-tamed-in-the-interests-of-the/) [Vince Cable](https://sms4smile.com/quotes/author/vince-cable/) > [Hedge funds are investment pools that are relatively unconstrained in what they do. They are relatively unregulated (for now), charge very high fees, will…](https://sms4smile.com/quotes/cliff-asness/hedge-funds-are-investment-pools-that-are-relatively-unconstrained-in/) [Cliff Asness](https://sms4smile.com/quotes/author/cliff-asness/) > [Substantially fewer films will be produced over the next year or two. 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You…](https://sms4smile.com/quotes/donald-trump/you-ve-seen-my-statements-i-do-very-well-i-don-t-mind-paying-some/) [Donald Trump](https://sms4smile.com/quotes/author/donald-trump/) > [The risks facing hedge funds are non-linear and more complex than those facing traditional asset classessuch risks are currently not widely appreciated or well-understood](https://sms4smile.com/quotes/andrew-lo/the-risks-facing-hedge-funds-are-non-linear-and-more-complex-than/) [Andrew Lo](https://sms4smile.com/quotes/author/andrew-lo/) ## More by Noam Chomsky > [The costs of the Bush-Obama wars in Iraq and Afghanistan are now estimated to run as high as $4.4 trillion - a major victory…](https://sms4smile.com/quotes/noam-chomsky/the-costs-of-the-bush-obama-wars-in-iraq-and-afghanistan-are-now/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [If you believe in democracy, why shouldn't you know what the government is doing?](https://sms4smile.com/quotes/noam-chomsky/if-you-believe-in-democracy-why-shouldn-t-you-know-what-the/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [It’s a shameful moment for U.S. media when it insists on being subservient to the grotesque propaganda agencies of a violent, aggressive state.](https://sms4smile.com/quotes/noam-chomsky/it-s-a-shameful-moment-for-u-s-media-when-it-insists-on-being/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [There are questions as to whether it should even exist. 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