Can Civilization Survive Capitalism? by Noam Chomsky

Dandelion Salad

by Noam Chomsky
In These Times
March 5, 2013

There is “capitalism” and then there is “really existing capitalism.”

The term “capitalism” is commonly used to refer to the U.S. economic system, with substantial state intervention ranging from subsidies for creative innovation to the “too-big-to-fail” government insurance policy for banks.

[…]

The official doctrines suffer from a number of familiar “market inefficiencies,” among them the failure to take into account the effects on others in market transactions. The consequences of these “externalities” can be substantial. The current financial crisis is an illustration. It is partly traceable to the major banks and investment firms’ ignoring “systemic risk”—the possibility that the whole system would collapse—when they undertook risky transactions.

Environmental catastrophe is far more serious: The externality that is being ignored is the fate of the species. And there is nowhere to run, cap in hand, for a bailout.

[…]

via Can Civilization Survive Capitalism? – In These Times
see

Noam Chomsky: Public Education and The Common Good (2013)

Capitalism Stands As A Death Sentinel Over Planetary Life by Chris Williams

The Myth of Human Progress by Chris Hedges

About these ads

3 responses to “Can Civilization Survive Capitalism? by Noam Chomsky

  1. Pingback: Connected – A Film for Change | Dandelion Salad

  2. Pingback: Noam Chomsky: We Have Huge Institutions Devoted To Making People Stupid | Dandelion Salad

Please add to the conversation.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s