Chomsky

In an interview with the magazine Guernica, Noam Chomsky offers his thoughts on a wide range of topics. I especially appreciated his words on the hypocrisy of the global north (ie. the developed world) telling the south (the developing) they should not practice some degree of economic protectionism.

"Adam Smith had advice for the American colonies in the seventeen seventies. He advised the colonies to follow classical economic principles—they’re not very different from neoliberalism. In fact, it’s pretty much what economists today recommend to the third world. He said, Keep to your comparative advantages—the term “comparative advantage” hadn’t been invented yet—produce what you’re good at, which is catching fish, hunting fur, and growing food, and export it to us in England. And import superior British manufactures. But the U.S. gained its independence, so it didn’t have to follow that advice, and didn’t. It immediately set up under Alexander Hamilton high protective barriers to try to bar superior British textiles, in later years British steel. And it built up its own manufacturing base under protective barriers and by an enormous amount of state intervention. Take, say, cotton, the fuel of American industrialization. Well, how did America produce cotton? First of all, by exterminating the indigenous population. Secondly, by slavery. Those are pretty severe market interventions."