NOVANEWS
By JG Vibes
Noam Chomsky tells a group of activists that the Federal Reserve System has saved America from a “deep depression”.
Noam Chomsky. (Photo: Wikimedia Commons)
FLORIDA (INTELLIHUB) — Noam Chomsky has done some great work when it comes to foreign policy issues and research on media propaganda. However, when it comes to economics Chomsky is terribly misinformed, and is actually a huge supporter of government intervention.
Chomsky is also a vocal advocate of central banking and the Federal Reserve, most likely due to his socialist background.
Last week Ed Sanders of The Bob Tuskin Show asked Chomsky about the Federal Reserve during the question and answer portion of one of his talks. His response is absolutely astonishing. He claims that the Federal Reserve is the only reason why we are not in a “deep depression”, and his statements are met with applause from the audience
Personally, I think that allowing the government or the imaginary collective of “the American people” to print a monopolized currency would be just as bad as allowing the Federal Reserve print it. So in that sense I slightly disagree with the position of the well-informed audience member who asked this question. The best solution in my opinion is to do away with the Federal Reserve, do away with taxes, and allow people to trade with whatever they wanted to, creating a true free market in currency.
Noam Chomsky is great on foreign policy research, but when it comes to economics his views are beyond disappointing.
Watch the video below:
