Thu 19 Feb 2009
Understanding the Crisis – Markets, the State and Hypocrisy
Posted by k under Civil Liberties , Democracy , FinanceNo Comments
By Noam Chomsky and Sameer Dossani Foreign Policy In Focus 2/18/09
February 10, 2009 — Noam Chomsky is a noted linguist, author, and foreign policy expert. Sameer Dossani interviewed him about the global economic crisis and its roots.
SAMEER DOSSANI: In any first year economics class, we are taught that markets have their ups and downs, so the current recession is perhaps nothing out of the ordinary. But this particular downturn is interesting for two reasons: First, market deregulation in the 1980s and 1990s made the boom periods artificially high, so the bust period will be deeper than it would otherwise. (more…)