Before the 1970s, banks were banks. They did what banks were supposed to do in a state capitalist economy: they took unused funds from your bank account, for example, and transferred them to some potentially useful purpose like helping a family buy a home or send a kid to college.
Noam ChomskyEven in a largely depoliticized society such as the United States, with no political parties or opposition press beyond the narrow spectrum of the business-dominated consensus, it is possible for populate action to have a significant impact on policy, though indirectly. That was an important lesson for the Indochina Wars.
Noam ChomskyIn the mid to late nineteenth century, the gun manufacturers recognized that they had a limited market. Remember that this is a capitalist society, you've got to expand your market. They were selling guns to the military. That's a pretty limited market. What about all the rest of the people? So what started was all kinds of fantastic stories about Wyatt Earp and the gunmen and the Wild West, how exciting it was to have these guys with guns defending themselves against all sorts of things.
Noam ChomskyThere is a considerable polarization taking place here, increasing the gap between rich and poor. It's most dramatic in Third World countries, of course, but in the rich countries it's also very noticeable.
Noam Chomsky