If there were ever any doubt Noam Chomsky needs to shut up about economics, starting at about 4:20 he gets everything exactly backwards:
The man has no conception of market forces.
For example, Monstanto is out of the Bovine Growth Hormone business because
"Consumers have made it fairly clear they don't want milk from cows treated with the artificial hormone. At one point, more than 22 percent of U.S. cows were on the hormone. As of 2007, only 17 percent still were, according to the U.S. Department of Agriculture. In recent years, major companies including Kraft Foods, Starbucks and Wal-Mart have announced decisions to sell only milk products from untreated cows. This 'will limit our future sales' admitted Monsanto." Scientific American
But Chomsky says corporations are more totalitarian than governments and people have no influence over them, but here are Monsanto, Kraft Foods, Starbucks and Wal-Mart caving to consumer pressure.
The Ecomomist
According to Gallop the majority of Americans were opposed to the War on Iraq since 2005, yet that war is being would down only because the Iraqi's would not grant legal immunity to US service personnel.
"For US military planners, legal immunity is a must for any American troops, not only those serving in Iraq as part of any training mission after 2011, but anywhere in the world. The Iraqi decision to revoke immunity puts the US in a position where it could withdraw all its troops out of Iraq, leaving no military support behind." Deutsche Welle
But Chomsky says if the state runs things people are able to influence them via voting and political action.
The man is smoking crack.
Not to mention he calls himself an anarchist, but he loves the state.
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