Profit Over People: Neoliberalism and Global Order

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Profit Over People: Neoliberalism and Global Order

4.05 of 5 stars 4.05 · rating details · 1,553 ratings · 58 reviews

Why is the Atlantic slowly filling with crude petroleum, threatening a millions-of-years-old ecological balance? Why did traders at prominent banks take high-risk gambles with the money entrusted to them by hundreds of thousands of clients around the world, expanding and leveraging their investments to the point that failure led to a global financial crisis that left milli...more

Paperback, 176 pages

Published September 6th 2011 by Seven Stories Press (first published July 1st 1998)

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Feb 14, 2013 Igor Alexeev rated it 5 of 5 stars

Noam Chomsky, 84, is doubtless one of the leading American thinkers in the field of political economy. “Profit over people” is a short, but insightful collection of essays, written during the last decade of the 20th century. The book offers a brilliant selection of historic examples. Every single statement is supported with powerful evidence. For example, in the chapter “Neoliberalism and the Global Order” he writes:
“The "principal architects" of the neoliberal "Washington consensus" are the mas...more

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Jan 19, 2010 Trevor rated it 4 of 5 stars

Shelves: social-theory, economics

This book didn’t quite do what I was hoping it would do. I was hoping for a more or less comprehensive left wing critique of neoliberal economic theory. What I got was a critique of the effects of neoliberal economic theory. Those are two quite different things. Let me explain. Neoliberalism (and I have to say that I find it remarkably amusing that my spell checker does not recognise the term – what would Chomsky have to say about that little factoid?) holds that anything that hinders the free o...more This book didn’t quite do what I was hoping it would do. I was hoping for a more or less comprehensive left wing critique of neoliberal economic theory. What I got was a critique of the effects of neoliberal economic theory. Those are two quite different things. Let me explain. Neoliberalism (and I have to say that I find it remarkably amusing that my spell checker does not recognise the term – what would Chomsky have to say about that little factoid?) holds that anything that hinders the free operation of the market is by definition counter to the effective development of the economy and also anti-democratic. Because hindering freedom of markets makes markets less efficient (the proof offered for this is generally either the Soviet Union or rent control laws) this means that the economy does not produce as much as they otherwise might – putting a fetter on production reduces people’s living standards by as much as those productive forces have been hindered. Progress – economic progress, that is – is the core requirement for social progress and therefore anything that hinders economic progress also hinders social progress. It is taken for granted that free markets are always the most productive economic formation. In the long line of equalities free markets are the core and they can be translated as ‘free trade’ or even ‘democracy’ as the mood takes you.

There are two ways that the ideas of neoliberalism can be attacked, I think. ‘The first is by challenging its fundamental assumptions, by questioning such ideas as the complementary nature of international trade or the invisible hand and optimally efficient nature of free markets. Much of this work has been done by Galbraith in his The New Industrial State– and although a fascinating book, one that was written a long while ago and so neoliberals can find ways to squirm out of some of his conclusions.

The other way to criticise neoliberalism is how Chomsky attacks the subject here (and I have to say that I would have preferred him, at least in part, to have approached the subject more from the first line of attack). Chomsky shows, and quite convincingly, I feel, that whether or not the neoliberal assumptions are right or wrong, the one thing that can be said with certainty is that no one, particularly no one with any power, is seeking to introduce anything like free markets in anything other than words. This is particularly true in the United States, which Chomsky points out is one of the most protected economies in the world.

In fact, the most interesting thing that can be said about neoliberalism is that it is remarkable in its ability to so completely act and speak in ways that are opposite to each other. All of the talk is of free markets; all of the actions are protectionist.

This book was worth reading as much for the discussion of US involvement in Haiti as anything else. He makes the interesting point that if you are a third world country and you want to develop the last thing you need is a superpower showing any interest in you. The US has had intimate involvement in Haiti for a century and this has only assured Haiti became the poorest country in the Western Hemisphere, sucked dry by US investment. As Chomsky makes plain, aid is never about helping the poor, aid is about expanding the reach of local and transnational corporations at the expense of local communities. The increasing poverty of the vast majority of citizens in countries such as Haiti and Colombia make fascinating case studies.

However, the discussion on the victory of people over the attempted secret implementation of the Multilateral Agreement on Investment (MAI) saves this book from being a chronicle of despair and offers hope where you might think none was likely. I’ve always thought it a little ironic that Mai is Italian for ‘never’… Hard to think of a better acronym.

There are important lessons to be learnt from the failed implementation of this most potentially evil of all agreements. The first is to do the with the secrecy that surrounded its negotiation. It is clear from Chomsky’s book that even members of the US government did not know that it was being negotiated, even though negotiations had been going on between international governments for three years. It is also clear that the only reason why anyone knew about the negotiations before the MAI would have been introduced was because people had somehow gotten hold of a copy of the draft agreement and made it available on the internet.

The agreement sought to make it illegal for national governments to create any barriers to foreign investment. The MAI sought to allow investors the right to sue governments if they introduced policies that adversely affected their investments. For example, if a company invested in a local fishery and the national government introduced fishing quotas to avoid over fishing then the company would have been able to sue the government. Naturally, the government would not have a reciprocal right to sue the investors. The effect would have been a reduction of all environmental and labour laws to the lowest common denominator.

The other thing that is of interest about MAI is that it was the Clinton Administration that sought to introduce it. As my mate Gore Vidal once said, the eagle that symbolises the United States is a bird with two right wings.

MAI was not discussed in the press until the press was forced to talk about it by a popular movement of environmentalist, trade unionists, church groups and concerned citizens who simply would not accept that their government, acting solely in the interests of corporate America, should be allowed to take away citizen’s rights in secret. The mass movement that started because of the MAI finally killed off this agreement. Early in the book Chomsky quotes Hume who wondered at the odd fact that those who are ruled put up with their rulers when clearly in anything like a fair fight the rulers wouldn’t stand a chance. The point is that rulers make sure the fight is never fair. The media referred to the mass movement against the introduction of the MAI as hordes of vigilantes – actually, they were people like you and me – the overwhelming majority of the citizens of a country. But as Chomsky points out elsewhere, the best way to suppress an idea is to marginalise it. The lesson that should be drawn from this victory is how much can be achieved when people say ‘enough’.

Perhaps a natural disaster in Haiti will be enough to ensure that people do not allow the economic disaster Haiti has had to suffer for over 100 years to continue. If things go as they normally do in these cases the opposite will be the case and yet more will be taken from the poor.

ps I read the kindle edition of this book, and must say that the index was a waste of space. A linked index would have been a useful thing - something for the people at Amazon to think about, perhaps. (less)

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Apr 11, 2009 Spicy T AKA Mr. Tea rated it 3 of 5 stars

Shelves: anthology, chomksy, economics, globalization, political-science

This anthology of lectures and articles regarding the "Washington Consensus" and what's called global "free trade" was a quick and to the point kind of book. Chomsky gives a detailed history of the global trade bodies like the WTO, IMF/WB, the MAI, the Trilateral Commission, and trade agreements like NAFTA. In his classic way, Chomsky critiques these institutions and points out the extremely harmful effects for humans and the earth as well as pointing out the hypocrisy they call democracy. Choms...more

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Mar 04, 2010 Adam Ross rated it 3 of 5 stars

Shelves: economics, culture, politics

Chomsky makes some good points, but in his central thesis he misunderstands the free market. The argument of this book is that the rhetoric of capitalism and Milton Friedman's neo-liberalism have been used by the uber-mega corporations to keep themselves in power. This is certainly true of the Rush Limbaugh/Sean Hanity neo-conservative movement. I have personally heard Limbaugh shill for the mega corporations on his show, and this constitutes a misunderstanding of the free market and how huge co...more

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Mar 13, 2013 Carmen rated it 5 of 5 stars · review of another edition

Shelves: revolutionary-in-training-books

Reading Chomsky is informative, eye opening, and disturbing. Few writers challenge what you think you know better than he. And yet despite the insights, the analysis, the disturbing revelations that are really a matter of public record and knowledge, what comes through is his optimism and belief in the power of collective groups to work to the benefit of all. Noam Chomsky is brilliant, insightful, a first class mind, destined to be studied for generations, but he is also first and foremost a goo...more

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Nov 23, 2008 Charlie rated it 4 of 5 stars

Shelves: radical-politics, pop-academic

In the la la land of higher education, political "science" and economics are seperate departments in a world unto itself where the engineering student has little to learn from the physicist and the biology student has little to learn from the schools of medicine. Just as public-relations was once openly and freely called propoganda by "liberal" British social scientists in the like Herold Lasswell in the 1920's today we are told that the function of the state is to protect the people and the fun...more

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Feb 02, 2013 Andrew rated it 2 of 5 stars

I got 50% through this book before deciding that going through the rest would kind of be a waste of time. I just wasn't getting anything out of this book, and thought it was kind of junky. I'll give it two stars because maybe the second half is really great, and I do think there is value in keeping us aware of bad policy and hypocrisy in our history/present.

Chomsky seems to follow a format in each piece (it's not really a book, but a collection of shorter essays and pieces):

(1) make a caricatur...more

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Mar 26, 2012 Antonio Hernández Blas rated it 5 of 5 stars · review of another edition

Chomsky conceptualiza al neoliberalismo o consenso de Washington, en base a las declaraciones de sus partidarios, contrastando las palabras con los hechos. Es aquí en donde Chomsky, considero, audita las palabras para demostrar la hipocresía y cinismo con que los neoliberalistas han puesto al mercado por sobre el gobierno y consiguientemente determinar el papel de los gobernados dentro del orden global. Debe hacerse notar que es un libro con recopilación de varios textos publicados hace más de 1...more

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Mar 16, 2013 Fred rated it 2 of 5 stars

Shelves: personal-enrichment, prof-development

Far and away not what I was expecting or hoping for. Chomsky comes off as the exact extreme polar opposite of Glenn Beck in this book which is actually a collection of speeches and essays that he had delivered up until about the late 1990's. Maybe if you're more of a die hard fan of his already or someone who swings so far left that you're the stereotypical leftist then this would be for you. But since I'm more of a slightly of left of center type of guy this was too much for me.

Chomsky comes o...more

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Nov 14, 2012 Andrew added it

Shelves: policy-and-social-commentary, neoliberalism-and-postmodernity

Chomsky's style is simple and straightforward: a narrative of disenfranchisement held together by a constant barrage of data. Now granted, a lot of the things he discusses I already know from other anti-neoliberal interlocutors: Naomi Klein, Ha-Joon Chang, David Harvey, etc. But Chomsky presents them in an effective fashion, and also provides examples of the link between neoliberal ideology and American imperialism. For anyone seeking an introduction to anti-capitalism, this is probably a good p...more

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Dec 23, 2012 Raven Rakia rated it 4 of 5 stars

Shelves: my-library

The actual rating is a 3.82 but I'm in a good mood today and decided to round up. This book is actually a collection of lectures/speeches Chomsky gave. I would have rather it be a book that I could've used religiously, ripe with proof and evidence of USA's terrible foreign policy record; however, most of the book involves the mentioning of evidence, leaving it to you to do more research outside of the book's pages. I'm not lazy so I don't necessarily mind; however, it would've been nice for Chom...more

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Jul 18, 2011 Christoph rated it 4 of 5 stars · review of another edition

In this go around, Chomsky has collected seven essays from different sources outlining the history and current state of the neoliberal tradition known as the "Washington Consensus". He goes as far back as Madison for source on the American tradition being rooted in an elitism that has left the poor and disenfranchised in an apparently unending condition of subservience. This is the American ideal that results from "really existing doctrine" versus the rhetoric. The driving force of these seeming...more In this go around, Chomsky has collected seven essays from different sources outlining the history and current state of the neoliberal tradition known as the "Washington Consensus". He goes as far back as Madison for source on the American tradition being rooted in an elitism that has left the poor and disenfranchised in an apparently unending condition of subservience. This is the American ideal that results from "really existing doctrine" versus the rhetoric. The driving force of these seemingly disonant positions is power (i.e., money) which is the by-product of a system of command and control initiatives desgined to concentrate wealth in the hands of the elite while leaving the rest to the fringes to fend for themselves. The order is defined on both n national and international level with the basic situation being monied interest benefit by fixing the game in both a blatant and underhanded way; the right tool chosen for the specific outcome. Some of these tools include NAFTA, GATT, the WTO, the failed MAI, dergulation, subsidies on selected markets, etc.

Chomsky uses the doctrinal positions of these elites who define and enact these policies in fairly sneaky ways using their own words against them. This has a very clear effect of coming off not as criticism but instead shows the hypocrasy inherent in the disgusting, at-any-costs results that greed and power create. Despite Chomsky being pretty much the most lucid brilliant person on the planet, his language comes of as grounded and clear as can be which would not be expected from a person who operates on an intellectual level that far exceeds even those power-mongers of whom he rails against. He employs an intellectually-driven populist language to attack the seats of power with logic so sharp its unassailable.

Now 10 years on from this critique of a system that even then was long underway (the contemperary volley being traced back to the Nixon-age Bretton Woods agreement), the situation has only gotten worse. With the evidence clearly established in both economic and political terms by the recent Winner-Take-All Politics by Hacker and Pierson, there is no defense of both the failure of these policies from both a national and international perspective. The recent global collapse of the capatilist system is another clear indication of the policy choices that a century of greed have created. This collapse has forced a re-evaluation of basic economic concepts such as valuation, demand, resources, etc. To be sure those that most felt the pain of these failures were not those who had historically been feeling the pain of the systems success, but the resulting punishments have been a means to ensure the hoi polloi do not revolt against a system that has not shown their interests.

We all have a chance to write the future of inclusion and decentralized power. We must involve ourselves in these economic, political, and social issues and take back a government that has been weakened by design by monied interests who seek to control the planet in a system of subservience. This book is another in a series to help wake us up to this call.(less)

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Nov 13, 2009 Reinhold rated it 4 of 5 stars · review of another edition

Shelves: non-fiction

Ein Nachruf auf die Demokratie

In diesem an Fakten sehr reichen Werk stellt Chomsky die These auf, dass die wirklich Mächtigen des Westens natürlich nicht daran interessiert sein können, in einer Demokratie leben zu müssen, und dass sie daher dazu übergegangen sind still und heimlich die Demokratie zu einer Scheindemokratie zu verändern.

Der Autor zeigt sehr überzeugend, dass die Vereinigten Staaten schon längst zur stärksten Hegemoniealmacht der Welt aufgestiegen sind. Weniger durch die offiziell...more

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Nov 24, 2009 Andrew rated it 3 of 5 stars

Shelves: economics

Although I agree with most of Chomsky's politics and the underlying content of this book, I don't recommend it too highly. Chomsky is just unreadable here. 1. He can't write well. 2. He spouts off snippets of facts but never goes deep into an issue. 3. His "hyperquoting" makes me want to throttle the man.

It's far too concise to be history and you can get Chomsky's broader politics from other works of his. Nonetheless this is a story that needs to be told and it's a benefit if you do read this bo...more

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Mar 17, 2013 David rated it 4 of 5 stars

Of course Noam Chomsky is the leading intellectual in the realm of politics and power; he knows how the system works down to the T. Profit Over People is a great analysis of the neo-liberal agenda and articulately how the global arena has been shaped by economic and philosophical manipulation. Its a brilliant book but does drag on a bit after its made its point. Still, Chomsky never fails to astound.

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Sep 11, 2009 Russell Ramaswamy rated it 5 of 5 stars

Chomsky and not economists has been writing about the house of cards that is the US socialism (socialism for corporations and the rich) and also the harmful effects of financial liberalisation.

This book was written in 1998 so unlike other clown economists who didn't or couldn't predict this crisis (they were a few like Nouriel Roubini whom I respect) and also Taleb, Chomsky was way ahead of his time.

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Jan 01, 2013 Stephanni Bahr rated it 5 of 5 stars

I was first introduced to Chomsky, the linguist, in college. His work is well known within the linguistic community. I just recently discovered his work on public and foreign policy, and was left wishing I had been exposed to this aspect of his brilliance sooner. I thought this book was outstanding. It just hits the reader over and over with mind-blowing facts and insights that were indeed written in the 90s, but still apply today. It is complex, yet accessible at the same time. He has such impe...more

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Mar 09, 2011 Paul McMeekin rated it 2 of 5 stars

Shelves: politics

Pretty boring and somewhat out of date (albeit my own fault for reading in ten years after it was published!) Seemed to be made up of lectures and articles that the author had previously written. If you're looking for something as accessible as Naomi Klien's "Shock Doctrine", I'm afraid you may find yourself disappointed.

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Dec 04, 2009 Mark rated it 4 of 5 stars

Although I thought a little bit of what he said sounded like conspiracy theory, I do think there is a concerted effort by corporate America to gain greater freedoms than the actual citizens. What's worse, is we have no democratic voice inside these companies. Stick it to the Man.

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May 03, 2011 Steven Salaita rated it 3 of 5 stars

A slim volume. I like Chomsky, but it seems that much of his material--at least in this book--is regurgitated into a bunch of different publications. That's my main problem with Profit over People. However, it is highly recommended for those who don't read much Chomsky.

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Jan 08, 2009 Joseph rated it 1 of 5 stars

I was disappointed by this book by Chomsky. The introduction written by McChesney is not consistent with the entire rest of the book. McChesney goes off on classical liberal doctrine. Then Chomsky goes off on business-government collusion, but he can't seem to decide what he is against, and he ends up pointing fingers at everyone.

I also don't like paying money for a book only to find out it is simply a collection of articles that the author decided to compile and then use his name to make extry...more

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Oct 01, 2012 Joel Williams rated it 4 of 5 stars

A scathing critique of laissez-faire capitialism where Noam Chomsky, with his unrelenting logic and intellectual plethora of historical facts, systematically reveals the many differences between neoliberal doctrine and its actual practices and effects.

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May 20, 2012 Luxor Distributions rated it 5 of 5 stars

Aagin, an unbelievable read! PURE 100% Chomsky! Could not put this book down, missed meal-times and fave TV shows to read this book!

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May 06, 2012 Ben rated it 5 of 5 stars Recommends it for: Everyone who can read

So much information, unflinchingly exposed. Who knows what the answer is, but read this and you know something needs to be done.

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Feb 17, 2013 MedSaid rated it 3 of 5 stars

J'ai pas finis tout les articles, mais maintenant je hais de plus en plus le capitalisme, le néo-libéralisme, l’impérialisme, disant la politique américaine en générale... Merci Chomsky.

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Jan 12, 2010 Huseyin marked it as to-read

Shelves: non-fiction

Profit Over People: Neoliberalism & Global Order by Noam Chomsky (2003)

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Jul 27, 2011 Shirleyhen rated it 5 of 5 stars

Has a heavy academic feel at times but amazing content!

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Oct 22, 2007 Mike rated it 4 of 5 stars

Shelves: globalization

This is a pretty good read from Chomsky on globalization. He makes a distinction between free market ideology (which is what we push on developing countries) and what he calls really existing free market doctrine, which is free markets for you and subsidies and protectionism for me. It fits in with his entire approach of exposing the US contempt for the policies that it pushes on the rest of the world. It's a collection of previous magazine articles, but he did expand them a little, so it's wort...more

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Dec 04, 2008 canned ice rated it 4 of 5 stars Recommends it for: college students

a bit slow sometimes but good points.

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Aug 26, 2012 Suzanne Choo added it

A sharp critique of our time

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About Noam Chomsky

Avram Noam Chomsky is an American linguist, philosopher, political activist, author, and lecturer. He is an Institute Professor and professor emeritus of linguistics at the Massachusetts Institute of Technology.

Chomsky is credited with the creation of the theory of generative grammar, considered to be one of the most significant contributions to the field of linguistics made in the 20th century. H...more

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