Essay Title: 

Global economy

March 29, 2016 | Author: | Posted in globalization, social sciences

Democracy vs . democracy : How Neoliberalization

Has Established the Basis for a Revolution

Book Review

Chomsky , Noam

Profit Over People : Neoliberalism and Global

Seven Stories Press : 1999 In an exposition that brings to mind images from George Orwell ‘s Animal Farm , Chomsky demonstrates how neoliberal technocrats claim to espouse democratic ideals while practicing the complete opposite of what they say they stand for . Perhaps one of the most scathing criticisms of the dominant world , Profit over People attempts to bare the facts beneath the aggrandized ideas of neoliberal and free [banner_entry_middle]

enterprise economics that Chomsky argues is responsible for the unprecedented amassing of wealth for few in one hand , and the worsening impoverishment of the majority in the other . While this situation has put the latter in a disadvantaged situation , Chomsky claims that this also makes the former vulnerable to rebellion and revolutions . His arguments are encapsulated in the following statement during the early part of the book

There have been many experiments in economic development in the modern era , with regularities that are hard to ignore . One is that the designers tend to do quite well , though the subjects of the experiment often take a beating

The new global (dis Chomsky establishes the basis for this argument by tracing the historical background of the United States ‘ ascent to superpower status and the social and economic conditions that precluded it , noting that the U .S . and Japan who both evaded colonization by Europe were the first countries apart from Europe itself to rapidly industrialize . He contends , and here one senses undertones of Lenin ‘s theory of Uneven Development , that these economies were able to grow precisely by radically violating approved free market doctrine ‘ which the U .S . has been rabidly selling to poorer countries in the World Trade Organization

That economic power , according to Marxist theory , begets political power , is reflected in the presentation of the U .S . neoliberal economy as being able to dictate almost all aspects of life in the world including major policies and development focus . The U .S . being one of the wealthiest nations affords it the power to intervene in the economic , political , and cultural decision-making of other nations

The utilization of structural theories is also evident in Chomsky ‘s explanation on how the United States emerged as a major superpower after the first world war and even consolidated its strength as the second world war ended : through the use of both interventionist and gloved strategies to further its interest in a classic carrot-and-stick approach . This meant establishing the United Nations and several rather multi-lateral and uni-lateral organizations such as the International Monetary Fund and the World Bank whose role was to ensure the interests of American business in poor but willing countries through structural adjustment programs in exchange for much needed aid

While it dangles aid to friendly and cooperative countries , it threatens with war and coercive means those who do not conform to the needs of U .S . business interest , as demonstrated… [banner_entry_footer]


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