On Monday night, libertarian John Stossel bravely came to Syracuse to speak on what he believed freedom to be. He covered topics such as big government, world relations, and free markets. Stossel was undoubtedly clever and concise in his approach.
He began his lecture by briefly describing how his life had brought him to where he was. Stossel, while in college, considered himself to be a Liberal. “It just made sense”, he noted. Upon graduation Stossel worked for some time as a reporter. In his early jobs he found himself working for several liberal companies. Unable to have true freedom of opinion, he left and began reporting on 20/20. He now works for FOX news, and on his own show entitled “The Stossel Show.” All in this time, he won 19 Emmy’s.
After that short history, Stossel touched on the title of his lecture: Freedom and its enemies. What and who are our enemies? Big government. He talked about the Free Market and how beneficial it can be. He stated that the Free Market does not necessarily exploit workers. As companies build upon it’s resources, the more expertise it gains and the more improved the quality of life becomes within that industry.
Stossel talked of Adam Smith and the invisible hand theory. That to believe the market will correct and work within itself is not intuitive for one to believe. It is much easier to conclude that we need the government to catch us when we fall. But falling (and getting up) is the beauty of Capitalism.
Stossel then asked the question “Why is America Prosperous?” He answered himself: “Rule of Law and Economic Freedom.” When the government tries to control too much, as seen by the government shutdown, it becomes cost too much to afford. Government fails, but individuals succeed. When given the freedom, individuals find the most efficient and inexpensive way to produce. It is how capitalism works.
It’s hard to have any type of free market with the abundance of regulations that exist today. This was one of Stossel’s main arguments. Stossel did note, however, that this doesn’t mean we don’t need some regulation. Environmental and Food regulation helps to keep us safe.
People’s instinct, he reiterated, is to rely on a central party. But Economic Freedom is very much a moral objection of people. When the government gives us less control of our lives — this makes us smaller. But in the private sector, we have freedom, and things happen.
The last thing I’ll touch on about the Stossel lecture is his thoughts on America’s governments role in the world. To trade and inspire. “I want music and youtube to pollute the minds of kids all over the world”, “I don’t want to police the world. I want to be known as the people who have a better idea.” He concluded by suggesting to do this we need a disciplined market without bailouts, or privilege.
This is already pretty long, but I could go on about John Stossel’s ideas. He did not talk about politics in his lecture, but economic logistics. As a libertarian myself, I believe he encompassed many of my similar thoughts. It was an extremely interesting lecture.