If individuals can take from a common pot regardless of how much they put in it, each person has an incentive to be a free rider, to do as little as possible and take as much as possible because what one fails to take will be taken by someone else.
John Stossel..the real world's all we've got. Believers in the supernatural claim to have special wisdom about the world. But real wisdom means knowing truth from falsehood, knowing the difference between evidence and wishful thinking. Yes, the real world is mysterious and sometimes frightening. But would the supernatural make it better? The real world has beauty, poetry, love and the joy of honest discovery. Isn't that enough?
John StosselPeople vastly overestimate the ability of central planners to improve on the independent action of diverse individuals. What I've learned watching regulators is that they almost always make things worse. If regulators did nothing, the self-correcting mechanisms of the market would mitigate most problems with more finesse. And less cost.
John StosselI was bullied as a kid, and I got a job on television. And I had a camera. And so I wanted to go after those business bullies. And I just have been following that instinct.
John StosselMost people are oblivious to F.A. Hayek's insight that the critical information needed to run an economy - or even 15 percent of one - doesn't exist in any one place where it is accessible to central planners. Instead, it is scattered piecemeal among millions of people. All those people put together are far wiser and better informed than Congress could ever be. Only markets - private property, free exchange and the price system - can put this knowledge at the disposal of entrepreneurs and consumers, ensuring the system will serve the people and not just the political class.
John Stossel