In response to:

Greed

rk58 Wrote: Nov 07, 2012 2:19 AM
Mr. Stossel.. I'd like to make an observation.. you said "(if not corrupted by corporate welfare and bailouts) ".. which is certainly true.. but really.. its just an external manifestation of 'corporatism'.. allowing business to protect itself through an unholy alliance with government.. between that and the massive regulatory environment.. we have a great start at a classical fascist government. You correct above.. I totally agree.. I just think we should call the US government what it is..
On TV, my Fox colleague Bill O'Reilly says, "The recession was brought on largely by greedy Wall Street corporations."

Give me a break.

Bill's smart. If he believes such things, we who care about freedom have done a poor job communicating economics.

Blaming problems on "greed" is a mindless cliche.

Yes, Wall Street was greedy -- but that's nothing new. Greed is a constant. Did you ever turn down a raise? We need a free market because it restrains greed. Laws against theft and fraud help, but competition does more. With this election approaching, and statist, eager-to-regulate candidates in ascent, we...