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View Diary: Chomsky on the Economic Crisis (53 comments)

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  •  Blames Bretton Woods? Learn to read. (9+ / 0-)

    He blames the BREAKDOWN of the Bretton Woods protective regulatory framework as being the undermining force.

    Please spare us further clueless analysis, please. You can't even accurately summarize what he's saying, so that explains why you don't think he said anything of value.

    "we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex" Dwight D. Eisenhower

    by bobdevo on Tue Feb 17, 2009 at 06:54:56 PM PST

    [ Parent ]

    •  I was referring to Bretton Woods II (0+ / 0-)

      the breakdown.  I should have been more clear.  I apologize.  He refers to it as Bretton Wood, not Woods, so be both deserve a break. Chomsky argument doesn't hold water though.  Their is little evidence the end of the Bretton Woods regime caused the decline in US manufacturing, and if it did, it would necessarily have brought about the rise of the east asian economies he lauds in the same breathe. Its not accurate or consistent.

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