Monday, April 6, 2009

Noam Chomsky Free Market Fantasies

I listened to a talk Noam Chomsky gave in 1999, and it was about domestic policy and how we should stop pretending we really abide by free-market principles in the US.

A lot of things are just interesting because he provides some evidence for things I already agree with. But there were some interesting new points.

1. States having more power actually makes it easier for corporations to exert influence. This is a subtle interaction, and to some extent it is certainly true, but I wonder if the benefits can outweigh the harm it causes, and if so, under what circumstances.

2. Publicly funded projects benefit businesses and economic growth. However, when businesses fail, the public again is called upon to bail them out. Interesting that Noam mentions this so early on.

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