Noam Chomsky on America’s Economic Suicide

The US and Europe are committing suicide in different ways. In Europe it’s austerity in the midst of recession and that’s guaranteed to be a disaster. There’s some resistance to that now. In the US, it’s essentially off-shoring production and financialization and getting rid of superfluous population through incarceration.
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In Europe there’s an dangerous growth of ultra xenophobia which is pretty threatening to any one who remembers the history of Europe… and an attack on the remnants of the welfare state. It’s hard to interpret the austerity-in-the-midst-of-recession policy as anything other than attack on the social contract. In fact, some leaders come right out and say it. Mario Draghi the president of the European Central Bank had an interview with the Wall St Journal in which he said the social contract’s dead; we finally got rid of it.

Noam Chomsky

 

This is an edited extract from an interview Mr Chomsksy did with Laura Flanders, and is located at the Alternet site. Although he is talking about the USAmerican and European experience, it is not totally irrelevant to Australia.

The full article: Noam Chomsky on America’s Economic Suicide

 

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Tags: economics, Noam Chomsky