That last segment was irresponsible: “Look, it’s still the most free country you can live in, and you still have opportunities!”

Yes, people will strive to succeed and prosper in *spite* of what the government is doing to them. The middle class is being destroyed by government and its central bank. What used to be a single-earner family has evolved into a dual-earner family. sikiÅŸ Where a kid could come out of high school and get a decent paying apprentice job in industry, he now has far fewer options.

A free market provides much, much more than our current corporatist state.

I wonder how many of the guys enjoying their expensive toys bought them on the credit bubble, or took out home equity in the housing boom to finance their fun?

Had I been studying the Austrian school pre-2003, I may have done a few things differently myself…

Guilty as charged. And it sucks. But only myself to blame.

Yes, people will strive to succeed and prosper in *spite* of what the government is doing to them. The middle class is being destroyed by government and its central bank. What used to be a single-earner family has evolved into a dual-earner family. Where a kid could come out of high school and get a decent paying apprentice job in industry, he now has far fewer options.

A free market provides much, much more than our current corporatist state.

I wonder how many of the guys enjoying their expensive toys bought them on the credit bubble, or took out home equity in the housing boom to finance their fun?

Do you live in the Southeast? Perhaps 20/20 wasn’t pre-empted everywhere.

I wasn’t watching TV during that time, so I cannot comment further.

He mentioned that he had stumbled on the libertarian/Austrian economic point of view back when he was doing a lot of consumer advocate type reporting. However, he also mentioned in the interview that he was not very aware of the current web-based offerings in this area, since he mostly reads print magazines and newspapers.

Maybe we can let him know more about Mises.org and all the resources that one can find here (and at similarly focused free-market/libertarian websites). Contact info and message boards are availble at Stossel’s ABC news webpage.

All I saw was the damn ACC tournament when I tuned to my local ABC channel at 10pm EST

Magnus: Awesome quote. Thanks for the source.

My wife and I watch it almost every week but it’s not normally so liberty-centric. It was nice that Stossel could say some anti-government positions on national tv while his co-host was away.

“Your Honor, my client robbed these people, but in his defense, he spent it much more quickly than they would have. These people will work to replace the money in much less time than my client could earn it himself. This involuntary transaction is an efficient, cost effective way to inject money into the economy. My client’s aggressive program of self-help has already eliminated some income inequality. It is a start.”

Cargo Cult Economics

“The highwayman takes solely upon himself the responsibility, danger, and crime of his own act. He does not pretend that he has any rightful claim to your money, or that he intends to use it for your own benefit. He does not pretend to be anything but a robber. He has not acquired impudence enough to profess to be merely a “protector,” and that he takes men’s money against their will, merely to enable him to “protect” those infatuated travellers, who feel perfectly able to protect themselves, or do not appreciate his peculiar system of protection. He is too sensible a man to make such professions as these. Furthermore, having taken your money, he leaves you, as you wish him to do. He does not persist in following you on the road, against your will; assuming to be your rightful “sovereign,” on account of the “protection” he affords you. He does not keep “protecting” you, by commanding you to bow down and serve him; by requiring you to do this, and forbidding you to do that; by robbing you of more money as often as he finds it for his interest or pleasure to do so; and by branding you as a rebel, a traitor, and an enemy to your country, and shooting you down without mercy, if you dispute his authority, or resist his demands. He is too much of a gentleman to be guilty of such impostures, and insults, and villainies as these. In short, he does not, in addition to robbing you, attempt to make you either his dupe or his slave.

His assertion, paraphrased, “The thief steals your money and runs, whereas, the politican is first going to spend 30 minutes boring you to death, explaining why stealing from you is a good idea….”

Great stuff.

I’m glad to have him reaching the conclusion of Liberty through rigorous experience, because if he did challenge his interviewees on “morality” or “ethics”, he’d come across as being self-righteous or egotistical.

His most effective tool, and remember this is in television time where 3 minutes is a lifetime, is his “But, does it work?” byline.

I was sad not to recognize any Mises Institute regulars in the panel of economists. It was very good to see Walter Williams, though. He takes some of the wind out of the leftists sails just by being there.

For example, the pre-K is nonesense as he points out, but what about the Coercive act of extorting fees from parents who may not approve, or forcing parents who don’t want to send their kids at all to pay for others.