Most 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 StosselCompetition leads both drug companies and private regulators to be trustworthy. If they are not trustworthy, they die.
John StosselTo finance 'entitlement' programs, the government threatens force against the taxpayers who provide the money. Why are people who favor compulsion called humanitarians, while those who favor freedom are stigmatized as greedy?
John StosselThe welfare state has done to Black Americans what slavery (and Jim Crow and racism) could not have done. . .break up the black family. Today, just slightly over 30 percent of black kids live in two-parent families. Historically, from the 1870s on. . . 75-90 percent of black kids lived in two-parent families.
John Stossel