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“One of the NECESSARILY ILLUSIONS for the general public is that we live in a capitalist economy, but the rich don’t believe that for a minute. They insist on a powerful state to protect them from market discipline. So if Goldman Sachs makes a risky transaction, they’re basically protected. If it crashes, they can run to the nanny state with their cap in hand and get bailed out.” — Noam Chomsky
One of the NECESSARILY ILLUSIONS for the general public is that we live in a capitalist economy, but the rich don’t believe that for a minute. They insist on a powerful state to protect them from market discipline. So if Goldman Sachs makes a risky transaction, they’re basically protected. If it crashes, they can run to the nanny state with their cap in hand and get bailed
out.