In response to:

Keeping Business Honest

Eli17 Wrote: May 23, 2012 12:22 PM
My question is where you think Stossel is wrong? In his article he states fraud needs to be punished and fraud (with help from the gov't) led to the current recession. By the way, you brought up the financial markets not me. And this is an example of a crooked business, not of business not regulating itself. That would be like saying that Al Capone would have been a saint had their been more government regulation (which is just INSANE).
Instinctively, we look for people's motives. We need to know whom we can trust and whom we can't. We're especially skeptical of business because we know business wants our money.

It took me too long to understand that business's desire for profit is a good thing. To get our money, businesses -- if they can't look to the government for favors -- need to give us what we want. Then they must make continuous improvements and do it better than the competition does.

That competition is enough to protect consumers. But that's not intuitive. It's intuitive to assume that competition isn't...