20100610-Stossel-[Free to Choose].Fox Business.CF

STOSSEL - Free to Choose - Fox Business Network 2010, June 10, Thursday Xvid/MP3 AVI - encoded from clean composite SD source video ----- uploader's sidenote: This GREAT Stossel episode is about your freedom to choose! Stossel missed a great opportunity to answer the question, from where does this freedom spring? I feel compelled to state that one must also be aware that there was _another_ side to Milton Friedman, one which advocated for a big, interventionist government such as we have now. This side viewed big government as a vital tool, with the problem more one simply of the state's managers adopting the wrong policies. But, what if the next manager is not so good at his job? What if the next Fed Chairman or FCC, EPA, FTC, SEC director (et. al.) seeks personal power more than prosperity for his countrymen? You're free because we say so, not because you are. This school of economic thought is known as the Chicago School. With it, you get the rude idea of a free economy, centrally planned! Milton Friedman's freedom to choose thus becomes one that is conferred upon you by your government, not one that ought to be recognized as an inalienable right of men. That's crucial, because if your rights come from government, rather than your humanity, then government may infringe upon them, or take them away. Please consider reading this 18 page article about the dark side of Friedman: http://mises.org/journals/jls/16_4/16_4_3.pdf We should celebrate and advocate for our freedom to choose as Stossel's program did, and ALSO assert that in a free society, this comes from our nature as human beings, not from the government. That a limited government can only remain so, if we keep it from creating institutions designed to intervene and abridge our freedom to choose, when someone within that government doesn't agree with our choice! ----- June 10, 2010 01:01 PM UTC by John Stossel Tonight’s Show: Milton Friedman and Prosperity (8PM ET) Tonight at 8pm, my show is on Milton Friedman and his book and PBS TV series that -- 30 years ago -- argued that freedom leads to prosperity. The last 30 years have proven him right. Consider Hong Kong. Hong Kong is just a rock – it has no natural resources. It doesn’t even have democracy -- the communist Chinese run the show, and before that it was the colonial British. Yet in the last 50 years, Hong Kong went from third world poor to American levels of wealth. Friedman’s ideas also helped some of the people who were once subjects of the Soviet Union. When Communism fell in the early 1990's, the first Estonian Prime Minister Mart Laar found himself presiding over a country that was in deep trouble: “We started from 1992 with inflation [at] 1000%.. we had [a] prognosis for unemployment of 35%... we had a shortage of everything….I didn't know very much about economy. The only book about economy that I read was Milton Friedman's [Free To Choose].” It was all he needed. Per capita GDP in Estonia is four times higher than it was 20 years ago. The good news is that many countries continue to move toward economic freedom. GMU economist Tyler Cowen points out that, this week, the impoverished African country Rwanda has introduced “an Online business registration service… reducing time it takes to register a company to just one hour.” As East African Business Week reports: “Rwanda is far ahead of other East African Community member states in easing doing business. It first reduced the period for registering a business from 30 days to a week and then to three days and has now come up with just an hour.” The Heritage Foundation ranks countries according to economic freedom. Rwanda scores low on things like taxes and corruption, but it ’s score has increased steadily. If the country keeps taking Friedman’s advice, prosperity should be around the corner.

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caulkins (2010-06-12)

Thanks again, skJGZV6z. Your work is always appreciated. Do you plan to capture Judge Napolitano's Freedom Watch which premieres on FBN on Saturday?

caulkins (2010-06-13)

I just discovered that there is a pre-intro sequence that was not shown on the initial broadcast of this episode (and is missing here) but has been shown on at least one repeat broadcast.

 skJGZV6z (2010-06-14)

caulkins, you're right about the intro. Stossel reported it on his blog. Was it significant? I might be too lazy to re-up this if the viewer still gets the point without it.

 skJGZV6z (2010-06-19)

Note for 20100617 STOSSEL show: "Drug War Disaster." I recorded the show OK, but severe weather in my area last night caused numerous EAS messages to interrupt the video with tornado warnings.
For clean video, I'll instead record Saturday's rebroadcast and process that. Apologies for the delay.

 skJGZV6z (2010-07-02)

Note: This show was re-aired for the week of 20100701.