Art Carden on Stossel

Originally aired July 26, 2012. Art Carden, Independent Institute Research Fellow, discusses the topic "What you think you know...may not be so." with John Stossel.

• Category

  News & Politics

[IxenBlaze]

uhhh duh?

[communeofone]

bleh. i suppose the negative votes are well-deserved. i should have used a /sarcasm tag or something.

[gsapp59]

Hoover was a statist. He doubled the federal budget in his presidency. He did exactly the opposite of what Stossel is talking about in the video with trade. Ever hear of the Smoot-Hawley tariff? Would a laissez faire president institute public works programs? HOOOOOOVER DAM?

[PaGuy919]

I sincerely hope communeofone is joking. Herbert Hoover was a stimulus president definitely not a free market guy

[communeofone]

what a joker this stossel guy is. next he'll try to tell us that herbert hoover wasn't a laissez-faire president. pfft.

[CurtHowland]

That was an excellent explanation of the Law of Comparative Advantage.

The idea that I, individual or even country, should focus on doing what I do best and everyone else focus on what they do best, and we're all better off, is not the easiest idea to grasp.

It seems "logical" to produce different things, but that just means I produce less.

I could make arrowheads, but it's better for everyone for me to build computer networks and then buy arrowheads from someone else.