Dialogues, by Jerry Brown: on Budget & Economy


Noam Chomsky: 1920s and 1950s were both called the "End of History"

The current period is very much like the 1920s. In the 1920s, they were calling it the end of history. History had reached perfection; business rule was total; inequality was extraordinary. It was the great period of mass production and automobilization, and so on. It looked like pure business rule with nobody interfering with it. Then, along came the 1930s, and that proved not to be true. That kind of cycle's been going on all through modern history.

The book "The End of Ideology" in 1959 argued that ideological issues were over: they finally understood everything, more or less. Economics, incidentally, were saying the same thing. Paul Samuelson, the leading economist at the time, was writing that it would take an idiot not to be able to maintain a steady 3% growth with very low unemployment. From now on it was just a matter of tinkering. Well, a couple of years later the economy had totally changed, the country was up in arms and there was tremendous ferment. These cycles go on and on.

Source: Dialogues, by Gov. Jerry Brown, p.217 Feb 12, 1996

  • The above quotations are from Dialogues
    by Gov. Jerry Brown.
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