by Noam Chomsky
At 1:09:56 “if capital flow is unregulated, it will quickly create what some international economists call ‘a virtual senate’ – a senate consisting of concentrated international financial capital which will simply impose decisions on governments by threat of capital flight. So if some government pursues ‘irrational policies’ – policies aimed at helping the population, instead of raising profits for investors, and are therefore ‘irrational,’ like education, healthcare, environmental policies, whatever they may be – then you can force them to stop simply by pulling all the capital out of the country, which forces interest rates up, results in depression, the usual consequences. So therefore, unless capital is controlled, you have sharply restricted democracy and human rights.”
