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Friday, November 1, 2013

MIT professor Chomsky: "Tar sands and shale gas will destroy the environment as fast as possible"

Chomsky said during the 2008 financial crisis, the big banks could "forget the fact that they're supposed to believe in markets and ran with their hands out to the government, saying 'bail us out!" He continued, "In the case of the environment, there's no one to bail it out."

"While supporting the principles of the "degrowth" movement that aims to reign in over-production and over-consumption, Chomsky cited mass transportation, localised agriculture, and energy efficiency improvements as useful forms of growth that could mitigate climate change and improve quality of living.
"If you could take a subway from the suburbs in Boston, where I live, to downtown in 10 minutes, that improves your life over sitting in a traffic jam. People should see that."

Chomsky said that a "major issue" behind climate change is the deficiencies of the market system.
"Markets are lethal, if only because of ignoring externalities, the impacts of their transactions on the environment," he said. "When you turn to energy production, in market exchanges each participant is asking what can I gain from it? You don't ask what are the costs to others. In this case the cost to others is the destruction of the environment. So the externalities are not trivial."