A Quote by Noam Chomsky

From the 1970s, there has been a significant change in the U.S. economy, as planners, private and state, shifted it toward financialization and the offshoring of production, driven in part by the declining rate of profit in domestic manufacturing.

Noam Chomsky

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Been Change Declining Domestic Driven Economy Manufacturing Part Planners Private Production Profit Rate Shifted Significant Significant Change State Toward

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Noam Chomsky
American - Activist
Born: December 7, 1928

From the 1970s, there has been a significant change in the US economy, as planners, private and state, shifted it toward financialization and the offshoring of production, driven in part by the declining rate of profit in domestic manufacturing.

Noam Chomsky

Technology has been advancing so fast that the number of jobs globally in manufacturing is declining. There is no way that Trump can bring significant numbers of manufacturing jobs back to the U.S.

Joseph Stiglitz

With the emergence of civilization, the rate of change shifted from hundreds of thousands of years to millennia. With the emergence of science as a way of knowing the universe, the rate of change shifted to centuries.

William Irwin Thompson

The corporate State considers that private enterprise in the sphere of production is the most effective and useful instrument in the interest of the nation. In view of the fact that private organisation of production is a function of national concern, the organiser of the enterprise is responsible to the State for the direction given to production.

Benito Mussolini

Production for sale in a market in which the object is to realize the maximum profit is the essential feature of a capitalist world-economy. In such a system production is constantly expanded as long as further production is profitable, and men constantly innovate new ways of producing things that will expand the profit margin.

Immanuel Wallerstein

Marx and Lenin were ahead of their time. Marx wrote before offshoring of jobs and the financialization of the economy. Lenin presided over a communist revolution that jumped the gun by taking place in a country in which feudal elements still predominated over capitalism.

Paul Craig Roberts

During the 1960s, and again in the 1970s, growth in manufacturing productivity in the United Kingdom was the lowest of all the seven major industrial countries in the world. During the 1980s, our annual rate of growth of output per head in manufacturing has been the highest of all the seven major industrial countries.

Nigel Lawson

One of the major forces driving the decline in wages and the concentration of wealth at the top is the offshoring of American jobs overseas - reducing wages not only in manufacturing but also across the economy.

Donald Trump

In actual fact, it is the State, i.e., the taxpayer who has become responsible to private enterprise. In Fascist Italy the State pays for the blunders of private enterprise Profit is private and individual. Loss is public and social.

Gaetano Salvemini

I've watched with amazement as Local Motors has pioneered a co-creation and micro-manufacturing model that has democratized the development and production of complex machines, effectively transforming consumer choice from supply-driven to demand-driven.

Bre Pettis

As soon, however, as capitalist competition has definitively established the equal rate of profit, that rate becomes the starting point for the calculations of the capitalists in the investment of capital in newly-created branches of production.

Rudolf Hilferding

...free enterprise, [is] a term that refers, in practice, to a system of public subsidy and private profit, with massive government intervention in the economy to maintain a welfare state for the rich.

Noam Chomsky

Creating life at the speed of light is part of a new industrial revolution. Manufacturing will shift from centralised factories to a distributed, domestic manufacturing future, thanks to the rise of 3D printer technology.

Craig Venter

Cold-turkey deficit reduction would cause a significant recession. A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of around 2 percent, to fall at a rate of 2.9 percent in the first half of 2013.

Christina Romer

I don't want to overvalue Donald Trump as some historical rupture, and to admit that I do think Trump is an indication of a fairly profound change. But the change started a while ago, and it has taken a while to appear. Global capital, particularly western capital, has been in decline since the late 60s and early 70s. The softness appeared in the 60s, the profit rate fell off the table in 1972 - 73, and there have been very uneven recoveries. This has been an ongoing weakening of the productive economy of accumulation at a global scale, of capital's capacity to expand.

Joshua Clover

In the major state capitalists economies, Europe and the US, it's low growth and stagnation and a very sharp income differentiation a shift - a striking shift - from production to financialization.

Noam Chomsky

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