Noam Chomsky on the financialisation of the US economy

See “Jobs aren’t coming back”. Noam Chomsky has written a piece on what he calls the de-industrialisation of the US economy since the 1970s, essentially outlining the neoliberal paradox that I wrote about before.

I don’t agree with everything he says; for example I think the Occupy movement was, unfortunately, a waste of time. A movement with with no concise message is never going to get anywhere. If there is to be salvation from neoliberalism, it’s not going to come by breaking down capitalism. It’s more likely to be effected by a change in mindset (and for this reason Occupy is not totally irrelevant) leading to changes in the way we measure things. This must involve everything from statistics to accounting standards and it will be a huge undertaking.

Chomsky’s article is, however, a nice summary of some of the themes I’ve been introducing.

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