John Stossel - Free to Choose

[sadrihsihs]

Is 100% unregulated market good for weak economies and New independent nations? Can't it be a case where wallmart goes there and destroys local sellers by selling goods at much cheaper rate. Wallmart can operate in loss for a long period of time. This proves to be fatal for already struggling poor producers. The producers then take jobs of less skills thus loose their worth too. Thus after creating monopoly, wallmart removes all the gains of freemarket, for 2-3 generations.

[fzqlcs]

@sadrihsihs See the video, "Thomas Woods - Predatory Pricing." Your concern has proven to be unfounded.

[Antiks72]

Funny, because Friedman's insane free market policies were an abject failure in South America when they were tried and seventies. Free market policies require a police state.

[1999521]

@Antiks72 Actually, it was quite the opposite. Cuba, were socialism ruled, was shit, while Chile, where Friedman´s policies were strictly followed, had an economic miracle that even lasts today.

[Antiks72]

@1999521 That's a straight up lie. Pinochet was not a fucking miracle worker, and neither were Friedman's policies.

[1999521]

@Antiks72 Actually it´s true. A very similar thing happened in Spain during Franco´s dictatorship. One needs to separate human rights violation and economic efficiency. Friedman´s policies really worked.

[Antiks72]

@1999521 No they didn't as cataloged by Klein's book "Shock Doctrine"

[parsonman05]

Are you people fucking MAD ! China is a OSHA nightmare , RSES members are always' in in panic over the lager amount global damage that this kind of under control system those . All the people that worship the the free market are nothing more then the embodiment of the 7 deadliest sin

[FletchforFreedom]

@parsonman05 China has no OSHA. Instead, being still primarily dictatorial rather than capitalist, they dictate poor working conditions. As China has embraced a minimal level of capitalism, living standards and working conditions (while still not up to the more capitalist US standards) have improved tremendously.It is the GREATER level of control that is the problem. The free market has ALWAYS improved lives. Anticapitalists embrace the 3rd dealdy sin (envy). BTW, pride is the seventh.

[groam6666]

Hong Kong recently implemented minimum wage. I guess the communists finally got to them.

[MaddDogg81]

Canada is rich too

[nakor667]

Freedom works!

Who would have thought?

[tommag82]

Nice

[mallardhead]

AWESOME!!! ...I recently saw someone criticizing Feiedman for his earlier 'socialistic' ideals. ... I quickly pointed out he was a changed and held captialistic ideals ...

[BlackFencePatriot]

Stossle...Great, Friedman...awesome, Liberty Pen...fantastic.

[goPistons06]

i can't understand why people like Naomi Klein insist in halting globalization when it has done such a good job destroying poverty.

[rrrrsssssssa2]

Who needs toothpaste, toilet paper, cheap food, iPods for all and greatly extended life expectancies... when we've got communism! After all bill ayers has a cool earring and wrote obama's autobiography dreams of my father and obama's real father is a communist named Frank Marshall Davis.

[ErikS1975FreeState]

American Capitalism is the best Economic System in the World when it works properly because the people have the right to choose how they live, what they consume & are able to shop around for the best price for them. Thats the difference between American Capitalism & Socialism freedom the freedom to choose. American Capitalism works the best because it has a combination of freedom, rule of law & Safety Net to make it more affordable that needs to be reformed but for the people who fall through.

[Ipetratz]

@ErikS1975FreeState

There should be no government "safety net". If history has taught us anything, it is the danger associated with protectionist policies, and a safety net only subsidizes people to fail in their own lives. The market is a powerful force when left alone; that means the freedom to fail.

[ErikS1975FreeState]

@Ipetratz

We disagree, I have a lot of respect for Economist Milton Friedman the real thing when it came to Conservative Libertarianism unlike the Tea party & I'm also a believer in "Maximize Freedom" as well but I disagree with him on Government should have no role in the Economy. Social Security cut in 1/2 the Senior Poverty Rate.

[Ipetratz]

@ErikS1975FreeState

I highly doubt it, considering that social security has a 30 trillion dollar shortfall. Remember that social security was implemented in (I believe) 1937, still in the midst of the depression. All of the money that was in the social security "trust fund" has been spent, and is now being subsidized through general taxes. Do you by any chance have a source on the "1/2 the Senior Poverty Rate" thing?

[ErikS1975FreeState]

@Ipetratz

The shortfall hasn't always been there & has only been a problem in the last 15 years or so thanks to both party's in Congress spending the money in it. Social Security still represents the the only income or pension for a lot of Senior Citizens & along with Medicare represents the most popular part of the Federal Government. Something like 7 or 8-10 people support Social Security. Members of Congress or the President would kill for that type of Approval rating.

[TheBrotherMouzone]

What song is that at 0:38 (and in the end)?

[pizzafrenzyman]

@TheBrotherMouzone "I'm Free" by The Who.  You can search for it here on YT.

[napsmommy]

@TheBrotherMouzone The Who- I'm Free

[selfrealizedexile]

The best answer you can give to someone who wants to know why you need to allow failures in the market is because society only has so many scarce resoures. If you do not switch ownership of said resources in the event of mismanagement, you will get more squandering (what is produced is worth less than the costs of production). The market is the only rational form of "gov't" for society. It tells who may be in charge of more resources and who may not for optimal growth for all.

[selfrealizedexile]

It ultimately comes down to the Greeks honestly. We got freedom in our blood before other cultures.

[martinaoe2]

Awesome video.

[sdfkjllshadflhadfshl]

This shit is so SIMPLE! Why can't our politicians understand and embrace these concepts? Whenever a government tries to protect us from failure they ensure that more people will fail.

[zbigniewzapora]

@sdfkjllshadflhadfshl

Try reading anarcho-capitalist theory of government - which is also simple and easy to understand - and you will se that you can never expect good things from government in the same sense you can never expect good things from thiefs or mafia.

[sdfkjllshadflhadfshl]

@zbigniewzapora Yeah, even George Washington considered government to be a necessary evil, which is why they did everything possible to limit federal powers.

[zbigniewzapora]

@sdfkjllshadflhadfshl

And look how it played out. Limited government is an utopia. To me no evil is necessary.

[tommag82]

@sdfkjllshadflhadfshl The politicians are to busy stuffing their own pockets. They make the rules, they want to pick who fails and who succeeds. Crony Capitalism is the order of the day in DC.

[Gearhe1d]

@sdfkjllshadflhadfshl Our politicians understand this concept in the most unequivocal sense. The problem is these same people have a vested interest in keeping things the way they are.

[TheGroupeslc]

@sdfkjllshadflhadfshl

Because most people do not have the guts of the resolve to fend for themselves and prefer the security that comes from an all encompassing government ready to bail them out when they fail. It's easier to blame the nation that to blame oneself. That is why you have rampant obesity, addiction and ignorance... PEOPLE fear FREEDOM

[Antiks72]

@TheGroupeslc People haven't been bailed out in the U.S.; the banks have.

[TheFreethinker71]

@sdfkjllshadflhadfshl Because politicians hate to feel like they have no control of the country. It's a threat to their power to even suggest that people should have the right ot determine the path of their own lives and to prosper or to fail. Politicians see people prospering and they hate it because when people do well, it is often IN SPITE of them instead of BECAUSE of them. They hate being seen as irrelevant because it's a threat to their job.

[VictorLepanto]

@sdfkjllshadflhadfshl: Politicians don't "understand" this b/c there is no percentage in their understanding it. Socialism gives politicians maximum power to hand out goodies, creating dependence which empowers the politicians.

[XCritonX]

I am really looking forward to the new free to choose video. I will be showing it to my students (ages 9 to 16). It is interesting that a European is leading the making of this excellent explanation of capitalism.

BTW: Not everybody works hard. Some people ARE lazy. However they are in the minority.

[Rhiannon003]

Look at all the opportunity that has been created by Bill Gates. Could the gov create that opportunity? The gov stifles opportunity and a truly free market creates it. We need to take America back from the marxist commies who are destroying it.

[XF540]

Free market is a perfect and obvious well proven concept, other countries and ports prove it like Hong Kong. Why do we not have that here in the US???

Because WE PERMIT IT!!! Because people in their personal compacity are smart but we tend to think the masses of people are stupid- AND THEY ARE. The current electorates, the economic squeezings of supposed market regulations to protect, have squandered the desire for us to succeed. It's our fault collectively and the reaons "why" are endless.

[billyguns2]

Friedman's ideas are NOT in place now; tyrants are in charge, haven't you noticed? WAKE UP!

[Cstrife234]

It's easy. America raped everyone. They stole the land from the Indians. Made sure all the presidents and prime ministers in different countries do business on their terms.

[julianhpike]

"@Cstrife234 brilliant" comment!

[Perserus]

@Cstrife234

including themselves.

[Cstrife234]

@Perserus yes