John Stossel on Why Free Market Ideas Are Losing


People don't understand the private sector. They don't like it. Intuitively, it seems selfish. Most people are busy trying to run their own lives. They're grateful to politicians who want to take charge. It seems intuitive to think that a smart group of planners concerned about the collective good can accomplish more than free people pursing their own interests individually in the private sector. But as John Stossel explains, history is filled with examples of how the solutions politicians propose create new problems without solving the old. Urban renewal wiped out entire neighborhoods without improving cities, mortgage subsidies created a damaging financial bubble, the war on drugs created a prison-industrial complex while barely taking a dent out of drug abuse. The list goes on and on.