State Capitalism and Privatized Profit – Noam Chomsky

„A basic principle of modern state capitalism is that costs and risks are socialized to the extent possible, while profit is privatized.“

Noam ChomskyNoam Chomsky on state capitalism: costs and risks are socialized while profits are privatized.
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Noam Chomsky is an American linguist, philosopher, and political activist, renowned for his work in linguistic theory and critical social analysis.

Noam Chomsky critically describes the tension between socially borne risks and privately captured profits in state capitalism.


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Noam Chomsky quote about state capitalism and privatized profit

Born in 1928, Noam Chomsky is a prominent linguist, cognitive scientist, philosopher, and political activist. He is widely regarded as the father of modern linguistics and revolutionized the field with his theory of generative grammar. Additionally, Chomsky is known for his critical analyses of politics and mass media.

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"The State, both in its genesis and by its primary intention, is purely anti-social. It is not based on the idea of natural rights, but on the idea that the individual has no rights except those that the State may provisionally grant him. It has always made justice costly and difficult of access, and has invariably held itself above justice and common morality whenever it could advantage itself by so doing." Albert Jay Nock
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