Tag Archives: John Stossel

Almost Everything We’re Taught Is Wrong

From TexasInsider.org, By John Stossel – We grow up learning that some things are just bad: child labor, ticket scalping, price gouging, kidney selling, blackmail, etc. But maybe they’re not.

What I love about economics is that it can show that what seems harmful is actually good for society. It illuminates what common sense overlooks.

This is all covered in the eye-opening book “Defending the Undefendable” by economist Walter Block. Continue reading →

The Cancer of Regulation

John Stossel

Politicians care about poor people. I know because they always say that. But then why do they make it so hard for the poor to escape poverty?

Outside my office in New York City, I see yellow taxis. It’s intuitive to think that government should license taxis to make sure they’re safe and to limit their number. It’s intuitive to believe that if anyone could just start picking up passengers, we’d have chaos. So to operate a taxi in NYC, you have to buy a license, a “medallion,” from an existing cab company (or at a once-in-a-blue-moon auction). Medallions are so scarce, they now cost hundreds of thousands of dollars.

Licensing prices poor people out of the business. Continue reading →