By Jeremy Fox
Naom Chomsky, the 'Einstein of contemporary linguistics', is both famous as an uncompromising political dissident and social critic. His place is an strange one, viewing the unfold of a unmarried worldwide culture-achieved during the worldwide circulate of data items and photographs - as leading to type of cultural, imperialism from which simply the Western international can really gain.
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Additional info for Chomsky and Globalisation (Postmodern Encounters)
In the 1970s, there was a five-fold increase in international debt (this represents a 19 per cent rise each year) for non-OPEC developing countries, caused by the increase in the price of oil, and by the resulting recession in industrial countries which led them to import less from the Third World; ii. There was a doubling in the price of oil in 1979–80; iii. A steep rise in interest rates occurred through the US monetarist anti-inflation policy. 85 The resulting recession was caused by antiinflation policies in the US and other countries.
Can one not speak here of ‘wickedness and untruth’? It is like other tales of globalisation and the new world order: there is a gap between the claims and the facts. It was claimed that the restructuring, like the IMF at its formation, was there to help countries reorganise their economies, pay off their debt and move into surplus. In fact, it does the reverse. The policies purport to help the indebted countries to solve their debt problems, but actually drive them further into debt, and sometimes hand their economies over to foreign investors and TNCs.
81 Hobsbawm, in his discussion of globalisation and debt restructuring, describes the last years of the 20th century as a period in which ‘supranational decision-making’ would grow quickly. To an increasing degree, the Great Powers were taking over control of the whole Earth. This control already operated: [T]hrough the global bank-managers of the great international lending-agencies, representing the joint resources of the oligarchy of the richest powers, which also happened to include the most 51 C H O M S K Y A N D G L O B A L I S AT I O N powerful ones.