erik lundegaard

Quote of the Day

“Privatization does not mean you take a public institution and give it to some nice person. It means you take a public institution and give it to an unaccountable tyranny.

"Public institutions have many side benefits. For one thing they may purposely run at a loss. They're not out for profit. They may purposely run at a loss because of the side benefits. So, for example, if a public steel industry runs at a loss it's providing cheap steel to other industries. Maybe that's a good thing. Public institutions can have a counter-cyclic property. That means they can maintain employment in periods of recession, which increases demand, which helps you to get out of recession. A private company can't do that. In a recession, you throw out the work force. That's the way you make money.”

—Noam Chomsky
“The Corporation” (2002)

Posted at 05:38 AM on Thu. Jul 29, 2010 in category Quote of the Day, Business  
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