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“The economic system barely functions as it is—I mean, the contemporary economic system is a complete catastrophe, an absolutely catastrophic failure. For instance, the International Labor Organization recently gave its latest estimate of unemployment worldwide—"unemployment" they define as meaning not having enough work to meet a subsistence level, so maybe you can sell some handkerchiefs at a street corner or something, but you don't have enough work to survive on your own. They estimate that at about 30 percent of the world's population which makes it a lot worse than the Great Depression. Alright? Now, there's a ton of work to be done in the world-everywhere you look there's work that ought to be done. And the people who don't have work would be delighted to do it. So what you've got is a huge number of idle hands, a vast amount of work that ought to be done, and an economic system that is incapable of putting those two things together. Okay, absolutely catastrophic failure.”
“The economic system barely functions as it is—I mean, the contemporary economic system is a complete catastrophe, an absolutely catastrophic failure. For instance, the International Labor Organization recently gave its latest estimate of unemployment worldwide—"unemployment" they define as meaning not having enough work to meet a subsistence level, so maybe you can sell some handkerchiefs at a street corner or something, but you don't have enough work to survive on your own. They estimate that at about 30 percent of the world's population which makes it a lot worse than the Great Depression. Alright? Now, there's a ton of work to be done in the world-everywhere you look there's work that ought to be done. And the people who don't have work would be delighted to do it. So what you've got is a huge number of idle hands, a vast amount of work that ought to be done, and an economic system that is incapable of putting those two things together. Okay, absolutely catastrophic failure.”
Noam Chomsky
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