I guess the missed point is that when the market did what it wanted and had no oversight, the bankers sold nicely packaged shit to investors and governments and we still have a crisis on our hands.
How can you allow a company with no moral judgment and no one responsible for its actions which is designed by law to put profit as priority #1 to police its self. Its like giving a gun to a psychopath killer.
@intercitty what you yanks have hasn't been a free market for nearly 100 years. you have a mixed economy, so failures of your current system are not a failure of command or free market economies but of the mixed hybrid between the two. Command economies failed in the 20th century, free markets were cop-opted into hybrid mixed markets and now they fail the world over. Short of a new alternative the free Market is the only system not given a chance to work.
BTW libertarians, the only time in history when the "INVISIBLE HAND OF THE MARKET" was in operation was when they bulk of labor was done by SLAVES. That's what the INVISIBLE HAND OF THE MARKET looks like. There are places like SOMALIA you can go to if you're so keen on seeing it in action.
@priorzola Wow. Since the free market does not allow for slavery - which is invariably a state imposed condition; since Somalia bears no resemblance to a free market; since the economy has become ever more regulated; since the middle clas was created by capitalism (which also improved wages and working conditions); and since the stagnating middle class myth has been long debunked, perhaps you'd be advised to attempt to grasp the issues and realities before making such nonsensical comments.
Micheal Shermer covers this really well in his book "Mind of the Market". It also shows the evolutionary, natural basis for our morality and ideas of fairness (ideas that transcend culture)
@swu880 Yes I am too :) French culture sucks. French journalists, teachers and politicians are terrible. Half of them are keynesian, the other half are marxist !
@MrKiromunist wait, so In france you can be penalized and jailed for having a certain idea or expressing an opinion? and what does fascist even mean anymore?
John Stossel tried to say that "govt's don't create jobs, entrepreneur's do, often without any govt involvement". And if I were a simpleton libertarian, I might buy that logic. But then I remember that I'm a realist & when I think of prosperous companies, I think of subsidized business loans, govt infrastructure, govt subsidized r&d, govt creation of an educated workforce, diplomats that help expand businesses overseas & then I laugh my ass off at everything Stossel says from that point on.
@AndyWright68 Yep, our govt has been STEALING MONEY from day one. I thought libertarians revere our Founding Fathers. Except for the fact that they, too, stole money so that our country can operate and pay off it's debts. From DAY ONE, our leaders (who needed to pay back the French for paying for our Revolutionary War) have been seizing wealth from the people. The difference is is that our Founding Fathers weren't nearly as fair about who they seized it from.
@priorzola All of those ideas are based on the concept of the institution. What are the interests of institutions? They aren't progress, change, innovation, and creative independent thinking, that's for sure. Institutions, even if created with good intentions, still end up relying on the working class for support and always end up with their own agenda and interests. Institutions desire and indeed help promote herd mentalities, a loss of individuality, a loss of productivity, and of creativity.
@priorzola In order for institutions to remain to be seen as relevant and necessary, there needs to be the problems the institution was created to solve. Therefor, an institution, like the DHS, always has an incentive to keep the perceived threat of terrorism around in order to justify their bloated budget. But because there isn't any room for competition due to the fact that it's an institutionalized service funded through force/theft, it sticks around and continues to keep people ignorant.
@priorzola all of those positions you just mentioned can easily be filled and and put to function more efficiently through the price system through constraints of budget and risks. it happens all of the time and it works.
@Ravengaurd6 sorry but those POSITIONS can be filled now. Why is that the fake capitalists need all kinds of STIPULATIONS to create jobs. They've had every favorable policy the neocon and their trickle down clowns could throw their way for THREE DECADES now and what have they CREATED with all their bailouts, subsidies, and deregulations? They created a Middle Class that produces TWICE as MUCH but whose salaries have stagnated and more wealth falling into fewer and fewer people's hands.
@priorzola First of all the Deregulations most capitalist worry about are price controls.Second, Bailouts and Subsidies are the goal of the CORPORATIST. these are financial structures that immune to market forces because they fixed and maintained by GOVERNMENT FORCE being directed by SPECIAL INTEREST. Free market economist are oppose to CORPORATISM because it use government control to benefit individuals. Markets and Governments are supposed to be separate. Government and the people should meet.
Let's all drop out of economics (and math) courses and do WTF we want !... It'll work like a charm. Sounds like a plan.
REALITY CHECK :
Trivial, physical interaction is NOT the same as financial interaction. The reasons for this should be obvious to anyone but the most stubborn Austrian libertarian. But what a pity that libertarians, with so many useful and great ideas abt self-determination and anti-authoritarianism, should waste their tme with utter crap like this video.
1:15 Brilliant example of how when people aren't allowed to self-direct in various circumstances, they don't function correctly. 1:55 to 2:15 - We intuitively know it
if you don't trust people to make their own decisions, then you certainly shouldn't trust other people to make your decisions either. there is no cause to place your trust in other people to govern your life.
i like the control in place currently. all it really does is filter out the idiots. i say let the system take the idiots as to continue itself. someone with enough brain to break free from this system, in general, will also have the common sense not to do anything stupid. you have far too much trust in the masses.
@LeGioNoFZioN but you have them they're called top 1% and they orchestrate the whole US and bully the rest of the world to follow their lead.
The free market and invisible hand of the market is exactly them. With no transparency no one sees what they're cooking.
They got you by your balls and the worst part is you don't even know it because you think you're gonna become one of them someday, once the regulation stops, but you're wrong.. they got you by your balls and you're singing their song
@intercitty well not being an american, I differ. regulation is passed by the 1% to greater increase the power and economic freedom of the 1%, the 1% in America tend to vote democratic, unless their economic situation declines and as they slide down the ladder from the top 1% they tend to be more free market oriented. Power corrupts and any government strong enough to help is also strong enough to hurt as well. in other words the only good government is a weak one, that lacks the teeth to hurt
I guess the missed point is that when the market did what it wanted and had no oversight, the bankers sold nicely packaged shit to investors and governments and we still have a crisis on our hands.
How can you allow a company with no moral judgment and no one responsible for its actions which is designed by law to put profit as priority #1 to police its self. Its like giving a gun to a psychopath killer.
intercitty 1 week ago
@intercitty Your missed point is that we have had nothing close to a free market for nearly a century.
fzqlcs 1 week ago
@intercitty what you yanks have hasn't been a free market for nearly 100 years. you have a mixed economy, so failures of your current system are not a failure of command or free market economies but of the mixed hybrid between the two. Command economies failed in the 20th century, free markets were cop-opted into hybrid mixed markets and now they fail the world over. Short of a new alternative the free Market is the only system not given a chance to work.
LeGioNoFZioN 1 week ago
:D Bryan Boitano did something!!
cdoftx 3 weeks ago
The 2 people who don't like this video are commies!
Omegafrost69 1 month ago
An excellent example of Spontaneous Order, or perhaps controlled chaos: the open outcry futures pits of the Chicago Mercantile Exchange.
thumpybones 1 month ago
"obama can give us back our freedom" priceless! lol I guess she never hear of the constitution...
sniped101 7 months ago
Comment removed
sniped101 7 months ago
BTW libertarians, the only time in history when the "INVISIBLE HAND OF THE MARKET" was in operation was when they bulk of labor was done by SLAVES. That's what the INVISIBLE HAND OF THE MARKET looks like. There are places like SOMALIA you can go to if you're so keen on seeing it in action.
priorzola 8 months ago
@priorzola Wow. Since the free market does not allow for slavery - which is invariably a state imposed condition; since Somalia bears no resemblance to a free market; since the economy has become ever more regulated; since the middle clas was created by capitalism (which also improved wages and working conditions); and since the stagnating middle class myth has been long debunked, perhaps you'd be advised to attempt to grasp the issues and realities before making such nonsensical comments.
FletchforFreedom 5 months ago in playlist John Stossel
@Epicnerdgasm it was for comedy more than anything and evoking the old Pink Floyd Wall song
LeGioNoFZioN 8 months ago
"he'd probably kick an ass or two, cause that's what Brian Boitano'd do!"
ramv36 10 months ago
I nearly died laughing when he said "What would Brian Boitano do?"
I keep hearing the song from South Park which asked the same question in a hilarious fashion.
ramv36 10 months ago
It us unfair to compare skating with an organized construction plan.
Trimiant 11 months ago
Brilliant video, reminds me why I'm a socialist.
wowsa0 11 months ago
@wowsa0
Then watch: David Friedman's Anarchy and Efficient Law (on Youtube). You'll purge yourself of your irrational tendencies.
Nonpeon 11 months ago
@Nonpeon I'm an anarchist already, a socialist anarchist.
wowsa0 11 months ago
this is why we shouldn't have the government but people are too ignorant to wake up
this video is a great proof that anarchy works
controllingaim 1 year ago
Everyone needs to understand this concept. This video is a great way to educate the people you know. Educate the people you know.
dombon6 1 year ago
One central planner watched this video
JHKarjalainen 1 year ago
I hate John Stossel. I really do. I think its the way he speaks.
azumaninjay 1 year ago
@azumaninjay or that he's peddling an antiquated philosophy and leaving out the facts about that don't fit into that philosophy.
priorzola 1 year ago
Micheal Shermer covers this really well in his book "Mind of the Market". It also shows the evolutionary, natural basis for our morality and ideas of fairness (ideas that transcend culture)
Great vid.
johnycannuk 1 year ago
I can't believe there's this kind of show on TV in the US. Here in France it'd certainly be made illegal and considered fascist !
MrKiromunist 1 year ago
@MrKiromunist
fascist? lol stossel is so anti fascist- he is pro freedom & pro common sense
swu880 1 year ago
@swu880 Yes I am too :) French culture sucks. French journalists, teachers and politicians are terrible. Half of them are keynesian, the other half are marxist !
MrKiromunist 1 year ago
@MrKiromunist
Whats the difference? didn't you know? keyns slept with marx- hence why their ideas are both so fucked up
swu880 1 year ago
@MrKiromunist wait, so In france you can be penalized and jailed for having a certain idea or expressing an opinion? and what does fascist even mean anymore?
Ravengaurd6 8 months ago
John Stossel tried to say that "govt's don't create jobs, entrepreneur's do, often without any govt involvement". And if I were a simpleton libertarian, I might buy that logic. But then I remember that I'm a realist & when I think of prosperous companies, I think of subsidized business loans, govt infrastructure, govt subsidized r&d, govt creation of an educated workforce, diplomats that help expand businesses overseas & then I laugh my ass off at everything Stossel says from that point on.
priorzola 1 year ago
@priorzola All done with money stolen at gunpoint and all crumbling and failed.
AndyWright68 1 year ago 2
@AndyWright68 Yep, our govt has been STEALING MONEY from day one. I thought libertarians revere our Founding Fathers. Except for the fact that they, too, stole money so that our country can operate and pay off it's debts. From DAY ONE, our leaders (who needed to pay back the French for paying for our Revolutionary War) have been seizing wealth from the people. The difference is is that our Founding Fathers weren't nearly as fair about who they seized it from.
priorzola 1 year ago
@priorzola All of those ideas are based on the concept of the institution. What are the interests of institutions? They aren't progress, change, innovation, and creative independent thinking, that's for sure. Institutions, even if created with good intentions, still end up relying on the working class for support and always end up with their own agenda and interests. Institutions desire and indeed help promote herd mentalities, a loss of individuality, a loss of productivity, and of creativity.
amanuscar 1 year ago
@priorzola In order for institutions to remain to be seen as relevant and necessary, there needs to be the problems the institution was created to solve. Therefor, an institution, like the DHS, always has an incentive to keep the perceived threat of terrorism around in order to justify their bloated budget. But because there isn't any room for competition due to the fact that it's an institutionalized service funded through force/theft, it sticks around and continues to keep people ignorant.
amanuscar 1 year ago
@priorzola all of those positions you just mentioned can easily be filled and and put to function more efficiently through the price system through constraints of budget and risks. it happens all of the time and it works.
Ravengaurd6 8 months ago
Comment removed
priorzola 8 months ago
@Ravengaurd6 sorry but those POSITIONS can be filled now. Why is that the fake capitalists need all kinds of STIPULATIONS to create jobs. They've had every favorable policy the neocon and their trickle down clowns could throw their way for THREE DECADES now and what have they CREATED with all their bailouts, subsidies, and deregulations? They created a Middle Class that produces TWICE as MUCH but whose salaries have stagnated and more wealth falling into fewer and fewer people's hands.
priorzola 8 months ago
@priorzola First of all the Deregulations most capitalist worry about are price controls.Second, Bailouts and Subsidies are the goal of the CORPORATIST. these are financial structures that immune to market forces because they fixed and maintained by GOVERNMENT FORCE being directed by SPECIAL INTEREST. Free market economist are oppose to CORPORATISM because it use government control to benefit individuals. Markets and Governments are supposed to be separate. Government and the people should meet.
Ravengaurd6 8 months ago
Let's all drop out of economics (and math) courses and do WTF we want !... It'll work like a charm. Sounds like a plan.
REALITY CHECK :
Trivial, physical interaction is NOT the same as financial interaction. The reasons for this should be obvious to anyone but the most stubborn Austrian libertarian. But what a pity that libertarians, with so many useful and great ideas abt self-determination and anti-authoritarianism, should waste their tme with utter crap like this video.
sternumagnum 1 year ago
awesome example, society is a skating ring
goPistons06 1 year ago
1:15 Brilliant example of how when people aren't allowed to self-direct in various circumstances, they don't function correctly. 1:55 to 2:15 - We intuitively know it
itisGabe 1 year ago
What an excellant example of "oragiser syndrome".
AnnoyingTypoSyndrome 1 year ago
This comment has received too many negative votes show
if only life were as simple as a skating rink. personally, i dont trust some to go freeskating through life.
sgtpeperr 2 years ago
if you don't trust people to make their own decisions, then you certainly shouldn't trust other people to make your decisions either. there is no cause to place your trust in other people to govern your life.
herbs814 2 years ago 2
i like the control in place currently. all it really does is filter out the idiots. i say let the system take the idiots as to continue itself. someone with enough brain to break free from this system, in general, will also have the common sense not to do anything stupid. you have far too much trust in the masses.
sgtpeperr 2 years ago
the system does not filter out the idiots. the system elevates idiots to positions of greater power and greater control over others.
herbs814 2 years ago
by elevating them to power, is that not filtering them out?
sgtpeperr 2 years ago
3:24 that guy owns
lilbromarky1 2 years ago
What would Brian Boitano do XD
AshillaBeige 3 years ago 4
He'd make a plan and he'd follow through - that's what Brian Boitano'd do!
alexbachmanov 2 years ago 2
Google: Alexandrian Philosophy Politics
For Philosophy
For Intelligent Politics
For a 21st Century Enlightenment
AlexandrianDoctorate 3 years ago
Amen to LeGioNoFZioN. "we don't need no central planners", a play on Another Brick in the Wall Pt. 2. Clever remark.
digi843 3 years ago
Let the market work for gods sake ! Politicians never made a job, that didn't cost us money, and never made a dime.
Auggie56 3 years ago 17
I agree with his point, but I have to admit that this is a horrible example.
austinisi 3 years ago 2
Completely agree... although Brian Boytano almost saved it! Ha, j/k. He could've chosen much better examples.
Tidoublemy 3 years ago
what would Brian Boytano DO!
ltgrandmaps3 3 years ago
Too many people believe that the President or congress controls the economy.
northduc 3 years ago 7
john stossel is amazing, i recommend that people watch a lot of his stuff
ruthieboboothie8 3 years ago 7
we don't need no central planners
LeGioNoFZioN 3 years ago 24
@LeGioNoFZioN we don't need no thought control
amanuscar 1 year ago
@LeGioNoFZioN but you have them they're called top 1% and they orchestrate the whole US and bully the rest of the world to follow their lead.
The free market and invisible hand of the market is exactly them. With no transparency no one sees what they're cooking.
They got you by your balls and the worst part is you don't even know it because you think you're gonna become one of them someday, once the regulation stops, but you're wrong.. they got you by your balls and you're singing their song
intercitty 1 week ago
@intercitty well not being an american, I differ. regulation is passed by the 1% to greater increase the power and economic freedom of the 1%, the 1% in America tend to vote democratic, unless their economic situation declines and as they slide down the ladder from the top 1% they tend to be more free market oriented. Power corrupts and any government strong enough to help is also strong enough to hurt as well. in other words the only good government is a weak one, that lacks the teeth to hurt
LeGioNoFZioN 1 week ago
Our central planners, the politicians, have brought us a debt of about $10 Trillion. How is that working out for you?
fzqlcs 3 years ago 8