Archive for January 27th, 2013

John Stossel is not an economist. He studied psychology at Princeton and has been a journalist for the last forty years. But throughout his career, he has done what an economist could not do better: trace and analyze the impact of government intervention.

His discussion with Peter Robinson from Uncommon Knowledge took place about a year ago. Stossel reminds me of my recent post on Jeremy Clarkson, which makes the video all the more worth watching:

The economy is not like an orchestra that a conductor to has to start or a car that needs jump-starting. An economy is people with needs and if you leave them alone they will do amazing, wonderful things to meet those needs. And we take it for granted that a supermarket has thirty thousand products, and they are all cheap, and it is open 24/7, and they rarely poison us.

Robert Hicks said ‘war is the friend of the state’. Well, so is crisis and fear.

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