Noam Chomsky on Free Market Capitalism

Chomsky on capitalism and markets.

[aidenconnor]

The stress on mass consumption has been heavily fostered by the circle jerk tie between corporation and state, not the economic system in and of itself. It is true that capitalism can have aspects of greed and consumerism, but these are tied to the individual and how they're fostered and conditioned. And it is to no surprise the state has Influenced and catered to the majority for it. And could be easily reset with global enlightenment and psychedelia.

All aspects of any government policy are anti ethical to mutual aid and social cooperation. A minarchist government would allow for completely free organization of individuals and the structuralization of communes, co-ops, and unions. None of which have majorly surfaced since government aid for the individuals.

"The mutual-aid tendency in man has so remote an origin, and is so deeply interwoven with all the past evolution of the human race, that is has been maintained by mankind up to the present time, notwithstanding all vicissitudes of history." - Kropotkin

[bobbyx]

Somebody should tell this PHONY, Left-WIng Jew that the NYC subway system was built PRIVATELY & subsequently destroyed by Govt regulations.

[jshir]

There is no such thing as a “free” market whether it’s in a capitalist or socialist society

[JoshuaHughesWisconsin]

Which is why 2-things Should be present, but 1-thing MUST be present whenever you have FREEDOM. The second flows from the first. The first of which is personal integrity and morality, the second is law and order.

Such were the words of our founders left us...

“We have no government armed with power capable of contending with human passions unbridled by morality and religion. Avarice, ambition, revenge or gallantry would break the strongest cords of our Constitution as a whale goes through a net. Our Constitution is designed only for a moral and religious people. It is wholly inadequate for any other.” - John Adams

[mikearchibald]

The one part I'd disagree with is the notion that all financial markets care about is profit. For example, Canada is a petro state and relies heavily on oil. Much of the world is turning away from canadian oil, but canadian banks are investing heavily in them regardless of whether those investments make or lose money. Canada only has five banks, its essentially an oligopoly and the government relies on them from time to time and banks rely on the government from time to time, like during the financial collapse when taxpayers essentially OWNED the CIBC, then sold off the shares at their cheapest point, now they are back to making huge profits.

[extraterrestrial]

The number of dislikes here really is concerning. Because he really is describing the unjust state of our world and how markets are mainly good for that. I mean eric weinstein has said we couldn't have a good economy without such competition, but it seems he is seeing in the way of coportate leverage. And this is fairly straight

[Santiagola]

You can still decide if you want to buy a car. And then you can decide which car to buy within your budget. Capitalism is a necesary means. And i cant see in socialism a better way anyway. Subways, bikes, buses, trains, are all created in the marketplace. Tell me a better alternative and then we can discuss.

[veryliberalprogressiveathe]

People who don't come together for an inherent good WILL NOT properly allocate resources which leads a planet and country into an inefficient death spiral.

[festus]

Noam Chomsky is right about so called free market capitalism.

[MutualAidWorks]

Check out Red and Black TV here on youtube- weekly, independent anarchist commentary from Britain.

[waneagony]

Why wouldn't the free market give him the subway? Didn't James J. Hill built the Great Northern Railroad the "free market-way"?

Albro Martin, James J. Hill and the Opening of the Northwest (New York: Oxford University Press, 1976)

[MRSF-dwzx]

This video makes my head hurt. What he blames capitalism on is actually the fault of government regulations on the economy. I don't see how wanting to provide a service or product to some one for a price and allowing him or her to choose to buy your service or product is totalitarian in the least bit. Totalitarian would be that owner providing the service to force you to buy his or her own product and not giving you the chance to look for other products or create one of your own to participate in the market as well... which is what government heavily restricts through taxes, regulation and, to some degree, inflation.

[sakarikaristo]

I must say the 2nd point is misleading. He does not define what systemic risk is. He left out that supply of money to the economy is all important, and banks are the key. That does not mean just transacting money, but more precisely supply of credit, for all money there is, there exists equal amount of credit. One’s asset is another’s liability.

[nut]

Who knew a linguist without citing any real life studies in support of his position. Knew more than a Nobel prize winning economist Milton Friedman. Wow

[Koevid-IVFPandemieAngstPornoNO]

Unlivable wage '' voluntarism ''


---- Ancap ----

[dabcity]

So, if you think that bank is involved with risky behavior, don't put your money in that bank. Free markets work pretty well. Government doesn't.

[pedrovanrell]

Because freedom its only achieved throught private property, free market and economical freedom. Totally opposite at what this ideologist is saiyng

[pattifunkhouse]

Noam - give your head a shake. Which restaurant would you patronize that provided the worst service and maximized the most profit. In a free market system all purchases are voluntary.

[veryliberalprogressiveathe]

He's absolutely right in many ways

[khafreahmose]

Profit motives are good. Profit motives drive innovation, customer satisfaction, and quality of product. Customer satisfaction IS benevolent. Businesses are in the business of pleasing their customers. And there's nothing wrong with the employee-employer relationship. It's not exploitative, it's the right to choose. Jobs not only choose people, people also choose jobs. The only thing I agree w Chomsky about is the level of education and knowledge in a society. In order for a free market system to work most efficiently is to have a highly educated and informed society. Without that capitalism unfairly gets a bad rap.