"I want my country back" - Prof. Russ Roberts testifies before House Oversight Committee

George Mason University economics professor Russ Roberts testifies before the House Oversight and Government Reform Committee. The U.S. used to have a mostly free market, but recently it has devolved into a highly mixed economy. With the advent of the Obama Administration, American's capitalism has taken on the from of Crony Capitalism.
Roberts major point is, the majority of the blame for the financial crisis lies with government, not Wall Street. Washington bailing out irresponsible rich corporations reinforces irresponsible behavior and rewards companies based on their political connections, not the success of their business.
I consider this video the focal point of my channel: a wake up call to America that free market capitalism is under attack by those who seized upon the financial crisis as proof of the "failure" of capitalism. Preposterous. Capitalism, the free-enterprise model has lifted more people across the globe out of poverty and raised the standard of living higher than any economic model in history. Socialism is a notion--a pipe dream that has failed in every nation where it has been tried.
Professor Roberts deftly summarizes in a few paragraphs the last two years of bailouts, corrupt giveaways and overall disintegration of the profit/loss model which rests on the proposition that wealth cannot be created for the masses if either the risk or reward is taken away from the economy. Bailouts take away the risk and channel profits away from the productive to the politically connected.
You want a truly compassionate economy? Let the market work. Let people reap the rewards of their risks, hard work and sacrifice. Treat small and large business equally. Stop passing regulations that only serve to protect the large companies from smaller competitors. Get rid of tariffs, the insidious coin of Big Labor's realm they use to protect their members and destroy the jobs of workers who dont belong to a union.

Free minds, free markets, free people. This channel is not about fairness. It is about freedom.

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[2wheels88]

This is more relevent today,more people should see this,perhaps a mirror upload with a new title should be made by you,or Id be happy to do it myself.

[PenguinProseMedia]

@2wheels88

I just uploaded a HD version as a response to to this video. People DO need to see this--spread the word!

[sleedolfine15]

Good lord,common sense coming out of the halls of congress!? The logic and reason the professor was speaking must have seemed like a foriegn language to those members of congress he was addressing.I imagine they reacted to it the way vampires reacts to garlic.

[joeymackaroni]

AMEN

Very well said

this is the guy who wrote the lyrics to

"Fear the Boom and Bust"

a Hayek vs. Keynes Rap Anthem

watch?v=d0nERTFo-Sk

[BLINDSIGHT8]

This guy gets it!

[chainsnskulls]

OR, ID, NV, CA, UT, AZ, WY, CO, NM, AK, SD, NE, KS, OK, IA, LA, MI, KY, FL, NC, WV, PA, NY, NJ, and ME are all closed states. In other words... to vote for Ron Paul in the Caucuses or the Primaries you must switch to Republican.

No army can stop an idea whose time has come. Ron Paul 2012.

[LSMLasVegas]

for such a smart guy, he's wasting his time by casting pearls before swine.

[jwinter228]

@PenguinProseMedia I second that - this is great and more relevant today

[tamfang]

Why does he call them "we"?!

[nelsonrn]

Russ Roberts kicks ass and takes no prisoners. He's the Chuck Norris of economics!

[aviomaster]

You still have some smart people in USA I thought the best you got was Bush.

[MrMickyMouth]

Just don't be angry about the type of money i'll be making once i'm elected to city council