John Stossel

[@hardlyb]

When people say 'capitalism doesn't work', what they really mean is 'We've distorted capitalism with a bunch of regulations that don't work, so let's give up on it and switch to something that has never once worked'.

[@PvblivsAelivs]

I always thought they meant that capitalism doesn't do what they personally want. Let's face it. Capitalism unrestrained will happily tell people to starve -- no jobs available, nothing you can do about it, just starve. Capitalism is very good at what it does. I think that there should be some restraints so that it does not do harmful things.

[@bjornarmar2462]

They also mean, “I have nothing to offer the marketplace and I’m still not a millionaire, so let’s just take some from the competent people who did become millionaires.”

[@masada2828]

hardlyb - Capitalism is not perfect’ but there is nothing else that comes close.

[@obviouslykaleb7998]

The only way I can see socialism working is with robots doing everything. I mean everything. Otherwise people would be too lazy to work (and why would they work, they get taxed for 2x their income [hyperbole]?) and revolt eventually.

[@BRIDGEBURNERSTV]

Yeah...let's add even MORE regulations!

[@bluewater454]

Stossel is is no economist, as he freely admits, but I can't think of a journalist today that gets our economy better than he does. Good stuff.

[@libertylover4575]

bluewater454 , it’s because he gets the simple principle of freedom & that’s what the market should be about.

[@victoriaoshea4865]

I wish there were more journalists like him. I believe they are bought off or bribed .Most journalists are corrupt

[@Valelacerte]

bluewater454 John Stossel reminds me of Donald Trump in that he is a straight forward pragmatist who doesn’t get blinded by flowery social, political or economic theory. He just observes cause and effect and never forgets the timeless truths of human interaction.

[@thomasottvideos]

"I was mugged by reality." - John Stossel

[@melvinshelton8448]

Unless it was an armed mugging, not worth the work to publicize it.

[@weekendmovie3793]

It is great to hear a journalist, one of our greatest, to share the truth! It is stunning to hear him wake up to reality. It gives us hope for more and more to see the light. Candace Owens is a great crusader of reality and truth. It would be awesome for John to have a journalist show now!

[@ToniTerrific]

So relatable, I recall my mugging followed by repeated facepalming. How I attempted to avoid examining past debates with those who I now, had to admit, were always light-years ahead of my understanding. For a long time, I thought that "mugging" was the exact time I lost my innocence and became an adult. That was not true, it was the moment I discarded my ignorance in search of the truth. John Stossel has the eloquence of a great writer as well as the humility that lives in all prominent thinkers and leaders..

[@cecilhenry9908]

I was mugged by diversity

[@DrCruel]

Also notice that Robinson never interrupts his guest or talks over him. He lets the guest express himself.

[@USSBB62]

But he talks to much. I wanted to hear John.

[@garymccoy2888]

DrCruel ..I hadn’t realized that. It’s one of the reasons I so enjoy him.

[@go2therock]

He's a master.

[@char4him99]

Thank goodness!

[@AugustKling]

This is not possible today (2020). Journalists are only propagandists.

[@JoeBlow-fp5ng]

I've always like John Stossel. Calm and sound reasoning. And as a Federal employee, I can vouch for the fact that your tax dollars are, more often than not, wasted in bloated government beaurocracy and hoirrible spending decisions base on each department's interests and not taxpayer interests or the common good.

[@omegajoe7014]

I couldn't believe this was published over 7 years ago. Everything they said which was the problem then is still the same problem now.

[@scottcampbell1635]

No, the problem has been made worse and it likely won't get better.

[@squarepegroundhole8211]

It’s interesting to go back in time to a conversation like this. Around 32:00 they said the Supreme Court might uphold the constitution...

[@oillease1881]

It's not a problem if you're a politician. It's the largest one for the rest of us.

[@michagrobi6771]

Yes. Same here. It is 7 years old. TRUMP2020 LANDSLIDE2020 BALDEAGLE2020

[@artmcpharlin6730]

omega, you are not. With your false and anti-Trump feeling. I could, but will Not take the time, to point out how you are so wrong.

[@jdreed68]

"I'm Libertarian, so that means I am a lousy conservative." Awesome quote!

[@ohwell2790]

I do not know what libertarians believe in with the exception of drugs for everyone.

[@richardfoster2699]

Think of it this way, a Libertarian is a liberal conservative or at least a moderate Conservative. Being a Conservative is not a bad thing. Being a Socialist is a bad thing, even if you are a Right winger, ie to theright of a Communist.

[@agsilverradio2225]

From the Authoritarian-Left's POV, or the Authoritarian-Right's POV?

[@AJJr-hc5lz]

I

[@NightOfTheLiving8bit]

Journalism is almost a lost art now. Stossel is one of the last few who says what needs to be said and still makes it entertaining for the crowds who need to absorb the information the most, the younger crowd. As much as I'd like to see Stossel run for some kind of political position, its just impossible to over turn such a monster with one person. In the end he's more effective in a media outlet, spreading the message of true liberty and freedom. The REAL American way.

[@MagnusCattus]

Darned if I can't remember who said it, but I love the quote "If it's too big to fail, it's too big to exist".

[@bretroberts950]

Sears was big, so was Blockbuster. Remember how big Myspace was? Toys R Us was a massive corporation... the only entity too big to fail is government.

[@douglashanlon1975]

if it is too big to fail people will have to die to get rid of it

[@sharralynnpiercewoolworth6358]

Lol!

[@farmrrick]

He's right no one is too big to fail, the fear of failing should keep an instituition on the right path . If not they must be liquidated and new blood take over.

[@AmishWebmaster]

John Stossel does great documentaries.

[@lukeadamek685]

Especially now, during quarantine. We're seeing that every single point Stossel makes is getting more and more clear. This government needs a new leader. A leader who actually wants freedom for the people

[@freedomandliberty93]

I want to shake John Sossel's hand.

[@sgtmcwallace]

I became A libertarian just 5 months ago and It was because I discovered Reason magazine. Prior to that I was in the same place that John was more or less. HIs story is uncannily familiar and its very encouraging.

[@GridIndustries]

7 years later, have you become an anarchist yet? Libertarianism is usually just the start. lol

[@norichesney]

Prophetic - hearing this for the first time in 2019....

[@2008rschro]

I always thought John Stossel would have been a great replacement for Andy Rooney on '60 Minutes!'

[@clarkgriswold5903]

I watched John Stossel on TV all the time, I like him even more now!

[@tatianabrown7468]

Great program and great interview with John Stossel. He sure knows more about what government needs to keep their hands off than our current administration.

[@UnknownXV]

Capitalism isn't perfect, but it's better than socialism.

[@alexjones-anaya5097]

UnknownXV Agreed. We prove it every time we wait for HOURS at the DMV office. This has been going on for decades- so it’s on purpose

[@trishfitzpatrick2066]

Socialism is a parasite on Capitalism. Unless the Capitalist earns the money, the Socialist has nothing to "re-distribute".

[@MrGiggity890]

Unfettered capitalism is as perfect as it gets, unfortunately the socialists have been doing quite a bit of fettering over the past century to make it not so perfect.

[@corryburton2660]

well kinda, but its also better than any other economic system throughout mankind.......

[@sillysad3198]

it is not even better. it is THE ONLY way a humanity can function. and does so naturally, under the biological evolution.

[@necrotyk1985]

You say greed, I say self-interest, the driving force behind everything we have achieved in the last then thousand years of culture. I will rather trust a greedy man, because I know what he wants, then a politician claiming he knows best, and therefore we should all do what he says.

[@tonyromano6220]

Gabriel Tams Yepper

[@cameroniwaasa7670]

It's easy to claim greed as someone else's motives. It's not greed to want to improve your situation and that of your family and friends, and even society as a whole. If anything, it is the appropriate if not a natural requirement of adult society.

[@lordbruce2720]

Self intrest is a rule

[@SomethinAintRightHere]

i love the tales of liberals discovering reality. it’s like a rehab success story.

[@SlopChap]

I held off from watching this for several weeks, skipping to other more recent interviews. Im glad I'm watching now and wish I would have seen sooner!

[@goodbyemoon5470]

Wow, loved Stossel for years. Love this interview. It's good to see him expressing his opinion formed by following his curiosity and instincts to understand reality. Humble and brilliant.

[@7beers]

You're completely misunderstanding Robinson's approach: overwhelmingly, he agrees with his guests. He frames his questions as "attacks" on his guests, in order to give them the opportunity to explain their positions. It's called polemics, I believe.

[@joseornelas1718]

Devils advocate, is to provoke the response for the audience

[@Billy-ho5ms]

I remember Stossel on tv in his early days..a crusader for the consumer. His turnaround has been fascinating over the years. Always worth listening to

[@justsomeguy7926]

I love both these guys. It's awesome to see people speak about these topics with some humility and not claim to be an expert on everything. I personally believe that it's John Stossel's most endearing trait.

[@kkampy4052]

Peter Robinson is the best interviewer. He is always well informed and knows when to listen.

[@JesusGodHolySpirit3]

I love STOSSEL otherwise I would not watch his programs :). God bless these men- Amen.

[@adolfogomez5556]

Less government means better government. How right is Mr. Stossel!

[@ShamanMcLamie]

They point out how people Revered he Kings and Nobility, but envy the business owner and the self made man. A great point I heard recently is we're more likely to envy people who are more like us. We have often judge ourselves compared to others and if someone who is more like us is ahead in life we envy them more and feel worse about ourselves. No one hated the Monarchs because it was given they would always be wealthy no matter what and you didn't feel bad about yourself, but if your neighbor who was once just as poor as you starts a successful business and becomes wealthy envy creeps in and you ask why your not their ahead and feel bad about yourself.

[@bretroberts950]

Sounds about right

[@lauraanderson5407]

Exactly.

[@j.jasonwentworth723]

Agreed. Also, the nobles were engaged in a contract with the commoners (the farmers, tradesmen, artisans, etc.) under feudalism, where--in exchange for paying their taxes and tributes (portions of crops and other produce)--the nobles would militarily deter invasions and, if necessary, defend the commoners from attacks by hostile, surrounding kingdoms, principalities, or duchies.

[@ross2812]

Ironically and sadly, people are envious of financial success yet they do not realize that they are fabulously weathly compared to billions of people around the world.

[@janetwhite7786]

And the even sadder thing, that people want successful people (teams, states, nations) to fail. Schadenfreud.

[@ncwdane]

The Problems not capitolism the problem is...... favortism

[@vincentconti3633]

As a lowly but well paid carpenter I seemed to do good when Bill Gates was doing well or The Oracle of Omaha made another ten billion! As a small builder I often thought about taking my business to the next level and make serious money! I decided to spend some time with my kids instead. I think I chose correctly. But that's just me!

[@spudwesth]

Ancient Rome succeeded best when gov't was only 2 % of the economy. When it died taxes were 90 % of the economy.

[@go2therock]

Wow.

[@billrhoasts5456]

Oohh....Great interview! You guys at the Hoover Institution make such great content. Thank you.

[@glennphoto]

Thank you John Stossel for pointing out that wealth is NOT finite, and that in fact it is infinite and boundless.

[@PashaAtHome]

Dawn he's 72. looks so much younger

[@tonyromano6220]

Prascovia Cravtova stossel?

[@garymccoy2888]

Prascovia Cravtova ..really? Wow I didn’t know that.

[@55jimott]

This interview was 7 years ago, but he was a very young looking 67 year old!

[@austinhavard9850]

He was in his 60s at this point. He also colors his hair I think so he looks way younger lol but he still is unbelievably mobile for that age

[@ferrer65]

Well this is over 12 years old now.

[@minermike61]

This was an excellent interview. I have heard Stossel's name for years but didn't tune into what he was saying until recently. He has excellent clarity.

[@KevinFitzMauriceEverett]

“The only thing the Democrats ever accomplish is to get the rich Democrats richer and more powerful and the poor Democrats poorer and less powerful.” -Kevin Everett FitzMaurice

[@BigDawgDavao]

It's so interesting to go back and see these older interviews and see how the future played out.

[@romecottrell6444]

I like the way John Stossel does an interview and he knows what's he's talking about ☺.

[@usernotfound7531]

I love john stossels work

[@richgrise2742]

IMPRINTED!!!!!!!!! That's It! I've been wondering what possesses those socialists.

[@victoriaoshea4865]

They are not my brain washed they are brain soiled with constant flow of propaganda from their learning institutions and the lame stream mockingbird fake media

[@dltroutman]

Brilliant then and brilliant now. In the 1960's I read Ayn Rand, 1984, Animal Farm, Brave New World, and worked on Barry Goldwater's campaign. I earned a degree in international relations (before it was cool … pay NO attention to AOC) and have been out of step with my self-indulgent culture, with rare exceptions, until now. After decades I feel finally like libertarian ideals are starting to take hold and that my life has not been in vain. John is correct.

[@durantetest]

Listening to Stossel is always a pleasure.

[@JuneGDP]

John Stossel! I have always enjoyed listening to this man. Yes, the government would help us more if it was much, much smaller, say cut by seventy per cent for starters. People need more incentive to do things for themselves and work for what they want.

[@paulafields3711]

"Government mucks it up" truth.

[@registerone]

I would like to get his opinion on the fact that so many US based companies choose to let China fabricate everything for them, then import back into the country to sell to us, and it's effect on the long term economic stability of the nation.

[@lewisclark5694]

He a genius who stays in his own lane. Respect

[@alanda8109]

I have always loved John Stossel, who has been brave enough to stand up to the leftist propaganda and speak the truth in spite of getting SO much "flack"!

[@SuperGregoryRoss]

Excellent interview as always. I just saw a side of Stossel I have not seen before. Many thanks for this. Look forward to the next one.

[@jesusmysavior2424]

Always enjoy the interview; I will have a long list going back to listen. Thank you

[@ensignj3242]

‘Individuals should act, not government.” That’s what happened with WE BUILD the wall. Government did not, would not, could not, so WE the PEOPLE did it.

[@MeMikeD]

"I must do something" aways solved more problems than "something must be done".

[@Cornampoo]

It's the job of an interviewer to make the counter arguments, so that the guest has an easier time explaining his position and the viewer understands the different views.

[@free-to-choose]

Thanks for reminding me I was for Naider. Learned from observation o everything that doesn't work. Now 100% libertarian, 100% laissez faire. True free market, not the fixed and unfair market we have today. I could go on and on.

[@free-to-choose]

Im so with stossel. My opinion every problem we have today is caused by the government.

[@jimturner4937]

People are people. Greed and morals are constants. Make laws simple. If you do things out of greed make the law very quick and decisive against cheaters. Bail out poorly run companies only sustains their poor practices. Let them go the way of the Dinosaur. Ford would be the leader in domestic auto companies if we didn't bail out GM and Chrysler. It would have opened the market to winners.

[@SomethinAintRightHere]

reinforces bad behaviour. maybe more people should study psychology, this is elementary stuff

[@marshawoods1493]

Geez, 6 yrs later and things are only worse!!

[@Reathety]

I was thinking the same thing lol.

[@loserface3962]

ikr

[@hellavadeal]

More employment, better economy, lower taxes, better trade deals being made. Unemployment lower. I see things getting better.

[@masada2828]

marsha woods - and will continue to do so... until the dawn of the new Age.

[@RoyArrowood]

Imagine how someone Ron Paul's age must feel watching liberties slowly dissolve, education fall apart, and the bankruptcy of the nation. How sad

[@ScottAT]

My the years have gone by.I watched this interview the week it came out.

[@ADAMKTN]

I’ve never not loved Stossel. The guy’s always been good, always level👍🏻👌🏻

[@7beers]

Libertarianism is good for your health, clearly.

[@emerald640]

What Greenspan got wrong is that the bankers were working for the year end bonus. "The bank be damned I want my money now."

[@kleekboop]

Whenever I heard your name in the past the only thing that came to mind was when you asked a wrestler if it was Fake. I can still remember his reply. What a strong life lesson.

[@jkellyid]

Stossel is so darn great. A very good commentator of human history, and modernity. He does a great job of speaking the to the laity in their own tongue.

[@TalkNerdyToMe11]

Stossel is 65 years old in this video? Holy crap!

[@Indusxstan]

This journalist knows more about the economy than many Nobel laureate economists ‼️ And it is still simple enough for any commonsensical man to understand. Irony of ironies😂

[@KATRACH33]

John Stossel, a very wise man.

[@robsouth7813]

I am always skeptical that the government can solve any of my problems.

[@acctsys]

Awesome interview. Great interviewers bring out great conversations.

[@StevenDrexler]

He's just an awesome advocate of libertarianism. I'm not exactly with him on everything, but if I were to read the book, I think I would be convinced.

[@FireinTheBowl]

I'm so happy John Stossel finally woke up.

[@consciousnobody]

John Stossel for president!

[@Schwyndfst]

This is just great, Pete Robinson+ Stossel

[@friendlyone2706]

6 years,later, still current, would like an update interview.

[@alphaomega9819]

While I do agree with most of what he says, I would like to point out that there is a difference between good and bad government policies. One could argue that the military has some successes. The military is funded directly through taxes. The motor vehicle system is not too bad either although it has some inefficiencies. Not all government is bad. Only bad government is bad. Stossel rocks!

[@johnnypenso9574]

Military isn't a policy though. It's a constitutional obligation of the federal government.

[@JC-DC]

Its 2020, covid, riots, the election...Mass homeless problem in CA. Government in So Cal can't even keep up the roads or make a dent on the homeless problem. BUT we still have Stossil, my personal favorite. And I still agree with 99% of what he says.

[@limbeckk8632]

John Stossel is a national treasure. A mother fucking hero to this day.

[@earthwormzim]

Such a great show!

[@colin-manyeates-clan5221]

OMG the quote of the millennium... "I was mugged by reality" It is that slicing truth and honesty that makes Stossel so appreciated. Or as I like to say "BINGO" (Brilliant Insight Negating Government Optics) (see you inspired that.. I've used "BINGO" for years usually meaning "over the target", "right on", "hit the bingo button", aligned all the dots to win the bingo prize etc but now I have what it really means in your case at least, "Brilliant Insight Negating Government Optics", thank you , so much fun! If I may be so bold as to comment on what so many seem to be missing and in your honor I will make it as "slicing" and truth as possible. If it ends in "ism" it is a dis-ease. Socialism, Capitalism, DemonRatism, Communism etc. Why? because in all the "isms" out there is a dis-ease which compels these people to impose upon others, deprive people of "certain unalienable rights", "enumerated rights", common sense rights, and those "rights" are essential to a healthy society and is the "stimulus" for a strong economy. Creativity suffocates under impositions and creativity is what we are "created" to do. Further or the short version "He who has the Gold/Capital makes the rules." = dick-tator-ism. The proven solution is the "Free enterprise system" or just plain old common sense "Free enterprise". it has worked, does work and always will work because progress is creativity and IMO "Creator" created us to be creative! Think about it for a moment. "Creator endowed us with "certain unalienable rights, among these are Life, Liberty and the Pursuit of Happiness". Why? Because these are the essential elements of creativity and oh my, imagine that, Creator loves creating. What greater accomplishment can a creator create than to create another creator. What is needed for that mini-creator to be most creative? Life, Liberty and the Pursuit of Happiness. Amazing, true, simple and effective. This is why America or any body of people who have freedoms, rights and liberty will always prosper more, better than any other "Form of Government" This is why I say it is "self evident" that Creator caused the "Unanimous Declaration of the thirteen united States of America" to be written and to do it in such a manner as a perpetual, irrevocable, express trust from which every "Form of Government" is derived from, subject to and "bound thereby". "That whenever any Form of Government becomes destructive of these ends it is the right of the people (who "instituted" it) to alter or abolish it". Surely it is "self evident" that those that have the right and power to "alter or abolish" something are not "subjects of" nor "subject to" the thing they instituted but "any Thing" is subject to the ones who "instituted" it and have the right and power "to alter or abolish it" "Abolish it". Think about that, it is literally removing it from existence. You can't say "kill it" because it was never alive and exists for very specific purposes and no other powers are granted and it certainly has less power than those that created it and it was created to serve its creator unless otherwise specified" (Man was "endowed" with rights and "free will", governments were not since it has no "will" of its own. "That to secure these rights governments are instituted among men..." and "organizing its powers in such form as to them shall seem most likely to effect [cause, bring about, make happen] their Safety and Happiness." There it is again, the necessity for "Safety and Happiness" the essential ingredients of Creativity. Yes, necessity is a great motivator such as war, but it is unsustainable and is only a reaction to the imposition and thus is a weakening of the free flowing creativity necessary to prosper. (I'm an "inventor" and honed those skills when I was a child being observant of the process myself. What teachers would put on my report card was not the whole truth, "he daydreams", "stares out the windows", "if he would pay attention in class he could do well" etc. What they are failing to state is that class was so un-stimulating that I went to find more interesting things to occupy my mind, like how the birds flew, actually flew, glide, bank, land, take off, feed, hunt, fight, love rituals and the trees and how the leaves would flap in the wind... basically anything was more interesting than class so I learned how things work at an early age as a result "fast learner" because i was exercising my brain in a creative way, in an inquisitive way being relatively safe in a classroom where no one was focused on me and happy I was away from home (constant physical and emotional abuse (negativity and constant criticism and the scapegoat of the family)) Hell I figured out the missing piece of Einstein’s Theory of Relativity in 7th grade in an instant. Figured out what the problem and the solution to the Underwater Communication System my father invented and built but just could not get more than ten feet away (I was the one at the base station, "can you hear me now?"), at 11 years old). Everything can be found in nature.. element, building blocks for ..... inventions. Impositions are the cancer of of man and like cancer will kill its host. Freedom, Safety and Happiness are the necessary elements of creativity and sustainable society, prosperous environment and abundance. Any parent "should" know this. Try to force a kid to do the dishes.... major waist of energy, arguments, fights, half assed job that has to be done again, anxious, anger, hurt feelings, alienation, loss of self worth and self esteem, and internal emotional war (adversaries) between the child and the parent. On the other hand, by taking time to create a "relationship" with the child and make it fun (there's that "Happiness" thing) and then ask "who wants to help me do the dishes?" They come running because whatever you are doing is now cool and you are doing it together and that is what they want more than anything is to be with their mentor and to be useful, approved, (there's that "Safety" thing. It is virtually impossible to be happy and fearful at the same time) and to have perceived "fun". Just make the "chore" fun! (again see how we are programmed with nomenclatures? "Chores" well doesn't that word itself tell you that it is arduous and boring and difficult because after all it is a "chore"... how stupid are we? Or is it actually a conspiracy of evil to separate the family and society to make us vulnerable to being imposed upon? Yes! and it generally is derived from some sort of "ism". The solution? Simple: Institute the "Continued Competency Training and Testing" of all those presuming to hold any position of public trust or profit as to the "principles" and purpose for which the position was created, derived from, subject to and "bound thereby" : "That to secure these rights governments are instituted" and "to effect their Safety and Happiness." Blessings and thank you John for all you do!

[@Shermanbay]

Robinson needs to hold Stossel's book up a few more times. We didn't see it nearly enough, and I've forgotten the title already.

[@dks13827]

'Free Enterprise', is what I call it. Great video.

[@brotherfred2669]

I love the outstanding spotlight John has put on the reality of the world we live in. He has exposed the many manifest sins of man (lying, stealing, murdering) yet because of his world view he could not fix it. Why because the indemic sin nature of man cannot be removed and man can only love and do right by his fellow man with the help of a all seeing ,all knowing God. Absolute Truth must be the foundation of our world view if we are to be successful in fixing our world problems.

[@CandyGramForMongo_]

Market competition is neither cruel nor kind, just indifferent.

[@willett786]

Interesting that both Stossel and Sowell came into libertarianism later in life.

[@merlesmith6794]

I can’t like this enough.

[@LeGioNoFZioN]

this is the Hoover Institution channel, not Stossel's ... I thought Peter did a good job interviewing IMHO

[@sgtmcwallace]

I am really pleased to see Mr. Robertson Interview John. I would highly encourage him to invite Nick Gillespie, Matt Welch, or the pair of them on the program.

[@TheOrlowskiObjective]

I had to go back 8 years to find Johnny's super intellectual power...his moustache!

[@chriscockrell9495]

2:00 “The natural human instinct is to say, why doesn’t the government do something what government usually does is make the problem worse. Why don’t we ever learn.” They should.... responsibility to someone else. It is the natural progress of things for government to grow. Thomas Jefferson. 3:20 “What intuition tempts us to believe, when there’s a problem, government should act. What reality taught me, individuals should act not government.” Milton Friedman got withholding tax and that John Stossel understands economics wrong. Government can make rules and make things cost more, but they don’t make things better. 5:00 “ what institution Tim says to believe you, someone needs to plan, and the central planner knows best. What reality top, no one knows enough to plan a society.” Frederick Hayek, Government can’t do central planning successfully. John’s point is that individuals know what they want better than a third-party can understand an individual priority. Can’t know what we want next. Maybe healthcare matters to you and not me. 6:20 Hayek “The curious task of economics is to teach man how little he knows about what he can imagine he can design.” “ what intuition tempts us to believe, the important thing is to have heroic leaders. What reality taught me, real heroes don’t control other peoples lives.” Suckered by Kennedy and Lynden Johnson’s great society speech. Segment two. 7:43 Ralph naters, GM. Activist Template. Big business bad, Little activist good. Big government good, capitalist bad. 10:00 Brother vs his journalism. 13:30 They created the Department of consumer affairs. The results were the same, but now they were licensing repairs. We license drivers we license dogs. It just made things cost more, if you ran a repair shop you now had to hire a lawyer to understanding laws. Trial lawyers. 15:30 reason magazine, Mills and lock ” what intuition temps us to believe, big business runs the media so the media supports big business. What reality taught me, the media hate business. 16:12 journalists and university intellectuals don’t like capitalism. People don’t like wealth disparity. Why? Jealousy, envy? Hate for the bourgeoisie, The people helping. T Sowell. I am a lousy conservative. Hate defending laissez-faire capitalism. And some liberals hate that. Liberals view business as a zero sum game. But it’s win-win. 18:15 segment three. The economy the government in us. “ what intuition Tempest to believe, government can get the economy moving again. What reality taught me, government does not spend money better than individuals do.” The economy is not like an orchestra that needs a leader. The economy is individuals with needs.(and resources). They will do amazing things to get what they want. Keynesians believe central planning works better. Alan Greenspan before Congress.19:50 “ I made a mistake in presuming that the self interest of pinks was such that they were best capable of protecting their own shareholders that the loan officers of those institutions knew more about the risks involved then even our best regulators. A critical pillar to free markets did break down, that shocked me, I still do not fully understand what happened.” October 2008 depression from the housing bail out. Capitalism needs adjustment and oversight. John Stossel says it doesn’t. Leave the consequences alone. It’s the same situation as Enron and Sarbon Oxley. The experts don’t see a big enough picture. They are too focused on their unique interest group. Whether bird flu or global warming or killer bees or y2k or… Market discipline will protect us better. “ what institutions tempt us to believe, some institutions are too big to fail. What reality taught me, failure makes markets work.” Government says the failure to bail out the Lehman brothers what is the issue. John Stossel says the Bella was the problem. Bear Stearns and AIG. It happens. Someone else would have purchased and re-consolidated the business. I’m not just saying the government should’ve stayed out of it., I’m saying the governments attempt at regulating caused the issue in the first place. Their attempt to control value and dictate that every American needs their own home is the problem. Did Canada have this issue? No. “ what intuition temps has to believe, if I do companies are in trouble, government should encourage the purchase of new cars. What reality taught me, wealth will be destroyed and poor people will be hurt.” 24:00 cash for clunkers. Haiti earth and 9/11 example. Paul Krugman. Creating jobs. Frederick Bastiat broken window fallacy. Boy breaks a window and that creates a job for a janitor and window repairman. The truth is that those individuals could have use their time more productively in other ways had the window not been broken. The store keep her wouldn’t have had to pay for the broken window and he could’ve bought a shirt. Seen benefits vs unseen benefits. Comparative analysis. 26:10 why was 2008 a crisis? In 1982 the stock market had a great run to 14000 and then drop to 8000. Why is that a crisis? The revolutionary war is a crisis. Freezing when the British are coming. The Civil War, or the bubonic plague, those are crisis. Keynesian argument for the economic benefit from the second world war. The new deal before move money around and didn’t really do much. When we spent money in the private sector, things started humming. Why? The economy started after the war. They were very worried about high unemployment yet there was no issue with soldiers finding things to do. “ my wife used to complain that libertarian reasoning is coldhearted. Since markets produce winners and losers, and many losers did nothing wrong, market competition is cruel.” 28:25. True, it is cruel. And there are winners and losers. Without the competition, there is only losers. President Obama said tax the rich. Clinton spending was 2 Trillion, Bush and Obama are at 4 trillion. It’s not a need for increase in taxes, it’s a need for decreasing spending. Government spending as a percentage of the economy. Thomas Jefferson said the natural progress of things, government grows, liberty yields. From the new deal on, federal spending has increased every year for the welfare state. Special interests always want more. We as individuals are never satisfied. It is not a surprise that government is always growing. Jonathan Rauch called it Dema sclerosis. Chris Christie takes on the unions in Texas. Someone in Louisiana. Property tax cuts. Reagan at a federal level. Not a hero, but a functional politician that pushes back on government function. Fortunio in Puerto Rico, cut a lot of employees. Michigan. 36:30 “ what intuition tells us to believe, lunatics want to murder us so we must kill them over there before they kill us over here. What reality taught me, such thinking leads to an overextended military.” Foreign affair issues are very complex. We’re bad at what we do as a government, why is nation building different? Defense is a legitimate federal function. With domestic issues air on the side of less and military air on the side of more. We have how many troops where? Really? Bush hired 9000 new regulators. Must purchase insurance. How is that different than Romney in Massachusetts as compared to the federal. The weed farmer in Kansas who was told he couldn’t grow because it would affect economy prices..… Creative destruction. Individuals should act, not government.

[@jakewestin4176]

John Stossel is a good man

[@buffalohump2569]

I keep envisioning Bob holding up Richard Dreyfuss' book in the movie 'What About Bob?'

[@AndrewD624]

i really like uncommon knowledge and am a big fan of stosse, i am glad they had him on. uncommon knowledge should try and review one of the nooks from the following authors: Ron Paul, Tom Woods, and Peter Schiff. These are all great thinkers and authors and would provide an interesting interview along with great ratings for the show.

[@Cmoth040]

Most people, particularly those whose education strays no farther than the public school system, confuse Corporatism with Capitalism.

[@anavrinhsub6081]

He won 18 Emmy awards

[@daleboice2081]

Amen. John has it right "No they can't".

[@vincentconti3633]

I have been involved in Town planning. Even in a town that wasn't corrupt plans were made solely based on economic benefit. Nothing to do with other needs.

[@MDAdams72668]

Yup the bailout was a mistake (catastrophic in fact) Due to the mass money printing and the now 20-30 year olds watching their parents savings DESTROYED those "kids" no longer care to work The pay is not high enough to get ahead right away and they have seen that saving gets you nowhere

[@KLP99]

I'd be interested to see a follow-up of this conversation after the experiences we've shared during 2020. I'm arrogant enough to believe I'm as smart or smarter than either of these men, and with evidence... Of course, I have my own prejudices and opinions, and believe firmly I'm right, but would be interested in what these 2 have to say.

[@MarcM143]

John Stossel for President 2020! He's an Oracle

[@dragons_red]

To the World War II economic boom question: I just read or watched something that explained that the post-world war economy boom had mostly to do with the fact that most the major producing European nations were devastated after the war so the US filled in the void created.