John Stossel
Yaron Brook: In Defense of Capitalism
From StosselTV
Progressives attack capitalism because it lets some become very rich while others stay poor. Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez call such a system “immoral.” But Yaron Brook, chairman of the Ayn Rand Institute says the opposite is true. He points out that the poor were much poorer before capitalism: “We have basically made about $2 a day for 100,000 years. In other words … we could eat what we farmed and that was it,” Brook tells me. “And then something amazing happened about 250 years ago.”
Around that time, a few countries tried capitalism. For the first time, people were allowed to profit from private property. That changed everything. Brook explains: “250 years ago we suddenly discovered the value of individual freedom. We suddenly discovered the value of leaving individuals free to think, to innovate, to produce without asking for permission, without getting the state to sign off on it and we call that the industrial revolution. We got much, much, much richer and it’s hard to imagine how much richer we got … electricity, running water, the things we all take for granted today, but we didn’t have 150 years ago … and yes, some people complain about inequality, but everybody got richer. Even the poor got richer.”
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After 40+ years of reporting, I now understand the importance of limited government and personal freedom.
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Libertarian journalist John Stossel created Stossel TV to explain liberty and free markets to young people. Prior to Stossel TV he hosted a show on Fox Business and co-anchored ABC’s primetime newsmagazine show, 20/20. Stossel’s economic programs have been adapted into teaching kits by a non-profit organization, “Stossel in the Classroom.” High school teachers in American public schools now use the videos to help educate their students on economics and economic freedom. They are seen by more than 12 million students every year.
Stossel has received 19 Emmy Awards and has been honored five times for excellence in consumer reporting by the National Press Club. Other honors include the George Polk Award for Outstanding Local Reporting and the George Foster Peabody Award.
From StosselTV
Elon Musk and his Department of Government Efficiency (DOGE) are here – but will they be able to fix our budget crisis?
Our government is $36 trillion in debt, yet it keeps wasting money on absurd projects like $118,000 to study if metal fingers can snap (spoiler alert: they can’t) and $700,000 to research parrot mating habits. It also spends more than a TRILLION in subsidies to state and local governments. Meanwhile, Washington sits on 300,000 buildings, many of which are unused, and land worth TRILLIONS of dollars. Yet instead of selling, it keeps buying more.
Chris Edwards of the Cato Institute says the first thing DOGE should cut are the subsidies to state and local governments. Then, they should slash the $180 billion a year spent in subsidies for corporations. But even if Musk’s new DOGE eliminates these expenses, the real culprits (Medicare and Social Security) are off limits.
So will DOGE be enough? Our new video above takes a look.
After 40+ years of reporting, I now understand the importance of limited government and personal freedom.
——————————————
Libertarian journalist John Stossel created Stossel TV to explain liberty and free markets to young people.
Prior to Stossel TV he hosted a show on Fox Business and co-anchored ABC’s primetime newsmagazine show, 20/20. Stossel’s economic programs have been adapted into teaching kits by a non-profit organization, “Stossel in the Classroom.” High school teachers in American public schools now use the videos to help educate their students on economics and economic freedom. They are seen by more than 12 million students every year.
Stossel has received 19 Emmy Awards and has been honored five times for excellence in consumer reporting by the National Press Club. Other honors include the George Polk Award for Outstanding Local Reporting and the George Foster Peabody Award.
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To get our new weekly video from Stossel TV, sign up here: https://www.johnstossel.com/#subscribe —————————
Business
The ESG Collapse: Al Gore, Intel, BlackRock, and the Failed Promise of “Sustainable” Investing
From StosselTV
For years, investment firms pressured companies to hire people of certain races and genders, and pushed “sustainability.” That has hurt returns.
Investments that claim to be “sustainable” have been underperforming. It’s because companies that embrace “ESG” woke investing end up prioritizing politics over innovation.
Intel, once a leader in the tech world, wasted millions on ESG goals. Now, it lags behind its competitors. Its stock is down more than 70%. “You have a company that’s absolutely failing!” Says Matt Cole, CEO of Strive investment managing.
Even BlackRock, which led the “ESG” push, now backs away from ESG investments. “What you’re seeing today,” says Cole, “is ESG funds shuttering at record speed.”
Our new video explains why.
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To get our new weekly video from Stossel TV, sign up here: https://www.johnstossel.com/#subscribe —————————
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