Books for the News, Economics

The Logic of Money-Driven Political Systems

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MIT linguist and long-time critic of US foreign and domestic policy Noam Chomsky made a recent appearance on Amy Goodman’s Democracy Now! to discuss the ongoing socialization of corporate debt in the context of US foreign policy — policy which, even under the current administration, Chomsky argues, hypocritically pushes a radical free market agenda on many foreign third-world economies. In the discussion, Chomsky points to Thomas Ferguson’s Golden Rule: The Investment Theory of Party Competition and the Logic of Money-Driven Political Systems to help explain how the influence of corporate interests on the American political system perpetuates this double standard between U.S. foreign and domestic economic policy.
Ferguson himself was also recently featured on The Real News Network delivering an insightful critique of the bailout plan, arguing that the plan’s structure supports the interests of corporate moguls over long term global economic health. Navigate to the Real News Network website to watch the archived video, or navigate to our website to find out more about Ferguson’s book.