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Before the 1970s, banks were banks. They did what banks were supposed to do in a state capitalist economy: they took unused funds from your bank account, for example, and transferred them to some potentially useful purpose like helping a family buy a home or send a kid to college.

Noam Chomsky

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Noam Chomsky
Age: 96
Born: 1928
Born: December 7
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More quotes by Noam Chomsky

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I still think, despite everything, that the US is very unlikely to attack Iran. It could be a huge catastrophe nobody knows what the consequences would be. I imagine that only an administration that's really desperate would resort to that.
Noam Chomsky
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People tend to rally around power.
Noam Chomsky
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Physics and those parts of other fields that grow out of physics - chemistry, the structure of big molecules - in those domains, there is a lot of progress. In many other domains, there is very little progress in developing real scientific understanding.
Noam Chomsky
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We don't live in tyrannies, you know, the king doesn't decide what's legitimate, and there's much more freedom than there was in the past.
Noam Chomsky
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What can realistically be done depends on the historical moment. The same is true with regard to the agents.
Noam Chomsky
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For one thing, studying language is by itself a part of a study of human intelligence that is, perhaps, the central aspect of human nature. And second, I think, it is a good model for studying other human properties, which ought to be studied by psychologists in the same way.
Noam Chomsky
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With regard to nuclear weapons, it's kind of hard to say. [Donald Trump] is said lots of things. The national security experts are terrified. But they're more terrified by his personality than by his statements.
Noam Chomsky
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It's not a matter of public relations and rhetorical style but of actions. It's the actions and policies under George W.Bush administration that have left the US government remarkably isolated, feared and often hated to an extent with no historical precedent.
Noam Chomsky
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The term 'globalisation' is conventionally used to refer to the specific form of investor-rights integration designed by wealth and power, for their own interests.
Noam Chomsky
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I think that we have basically nothing in the field of human behavior. Maybe that is just a condition of temporary ignorance. But it may be that we are simply not intellectually equipped to develop such a theory.
Noam Chomsky
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The US health-care system is a complete scandal. It's got twice the costs of comparable countries and some of the worst outcomes.
Noam Chomsky
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A war with Pakistan would be an utter disaster.
Noam Chomsky
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There's very little dislike of Americans in the world, shown by repeated polls, and the dissatisfaction - that is, the hatred and the anger - they come from acceptance of American values, not a rejection of them, and recognition that they're rejected by the U.S. government and by U.S. elites, which does lead to hatred and anger.
Noam Chomsky
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This crazy ban on the seven states, where we can't accept immigrants, almost every analyst points out the obvious: It just increases the threat of terror. It lays the basis for terror. It's just like the atrocities in Abu Ghraib and Bagram and Guantanamo. They're the most fabulous recruiting techniques for Al Qaeda and ISIS.
Noam Chomsky
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Venezuela is independent. It's diversifying its exports to a limited extent, instead of just being dependent on exports to the United States. And it's initiating moves toward Latin American integration and independence. It's what they call a Bolivarian alternative and the United States doesn't like any of that.
Noam Chomsky
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I don't really think there have been transitional periods to socialism. There have been efforts, but they have usually been destroyed by a combination of external force and internal corruption.
Noam Chomsky
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The [Ronald] Reagan administration told the business world that they were not going to enforce the labor laws.
Noam Chomsky
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The book Manufacturing Consent, which I co-authored with Edward Herman, begins with a description of the structure and institutional setting of the commercial media, and then draws some rather simple-minded conclusions about what we would expect the media product to be, given these (not particularly controversial) conditions.
Noam Chomsky
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As in the past, the costs and risks of the coming phases of the industrial economy were to be socialized, with eventual profits privatized.
Noam Chomsky
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Technology can also be used so that private individuals will have access to the way centralized decisions are being made.
Noam Chomsky