Tag Archives: Wall Street

Noam Chomsky: America’s infrastructure is broken

Noam Chomsky: America’s infrastructure is broken

“They were General Motors, Standard Oil of California and, I think, Firestone Rubber. The origins of suburbia reveal an attempt to take over a fairly efficient mass-transportation system in parts of California—the electric railways in Los Angeles and the like—and destroy them so as to shift energy use to fossil fuels and increase consumer demand for rubber, automobiles and trucks and so on. [29] It was a literal conspiracy. It went to court. The courts fined the corporations $5000, or something like that, probably equivalent to the cost of their victory dinner.[30]

But what happened in California started a process that then expanded—and in many ways. It included the interstate highway system. That was presented as part of the defense against the Russians. It was launched under the Interstate Defense Highway Act of 1956, and was intended to facilitate the movement of people and goods, troops and arms, and, allegedly, to prevent overpopulation in specific areas that could become the focus of nuclear attack. [31] The slogan of defense is the standard way of inducing the taxpayer to pay the cost of the next stage of the hi-tech economy of course.[32] That’s true whether it be computers, the Internet or, as in this case, a car-based transportation system.[33]

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This Week in Poverty: Fighting Poverty Through Wall Street Accountability

This Week in Poverty: Fighting Poverty Through Wall Street Accountability

“If you look at some of the biggest issues of the day—whether it’s the loss of wealth in communities of color, the housing crisis, the student debt crisis, local and state governments cutting jobs and services because of debt—you can connect all of these issues to the original economic crisis of 2008, and the growing and continued dominance of the Wall Street big banks.”

Read more: http://www.thenation.com/blog/174404/week-poverty-fighting-poverty-through-wall-street-accountability#ixzz2Ty8aVuGc

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