John Stossel Quotes
I started out by viewing the marketplace as a cruel place, where you need intervention by government and lawyers to protect people. But after watching the regulators work, I have come to believe that markets are magical and the best protectors of the consumer. It is my job to explain the beauties of the free market.
John Stossel, Consumer reporter, investigative journalist, author & TV presenter, The Oregonian, October 26,1994
Sourced by: Eigen's Political and Historical Quotations
He had just been appointed Finance Minister in the midst of a severe recession with the Japanese stock market and currency badly depressed.
[Most theoretical conservative economists believe this. When presented with the reality of market systems where great damage was done to people and areas, as in the Great Depression of 1929 and the Great Recession in 2008, they tend to argue that these were not really free markets—–that for various reasons, often they argue that government interference, corrupted the free market. Almost all economists would agree that if there were real highly competitive market his quote would be corrupt, but many have shown that the very greed that is produced by a free market tends to make the major players transform the market to reduce their risk and increase their power, thus producing monopoly, oligarchy, collusion, and anti-competitive practices. Greed is never harmless if it gets enough power.]
[The metaphor of the stone tablets revers to Moses coming down the mountain and his interaction with God, carrying the 10 Commandments carved in stone tablets.]
John Frank Stossel is an American libertarian television personality, author, consumer journalist, and pundit, known for his career on both ABC News and Fox Business Channel.
