Stossel 2015 02 08 No Plan No Problem WS SDTV x264-XAiO mp4

John F. Stossel is an American consumer reporter, investigative journalist, author, libertarian columnist, and former co-anchor for the ABC News show 20/20. In this show he looks at consumer-focused topics, such as civil liberties, the business of health care, and free trade.

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NO PLAN, NO PROBLEM! Spontaneous Order with John Stossel

ACCORDING TO PLAN: Politicians always say they can make things better with a "plan." But most of life works better when it's not planned by government. Economists call this free-flowing innovation, "spontaneous order."

RINKONOMICS: Suppose you'd never seen a skating rink, and we said we were going to have skaters strap sharp blades on their feet and zip around ice. The only rule: go counter-clockwise.

Central planners would say it's impossible! You need an expert to direct them! Stossel tried to direct them:

But that took the spontaneity away! The rink works because people are free to make their own decisions. Each individual knows where he wants to turn, how fast he wants to go, etc. No central planner will make that better.

DISASTER RELIEF: After Hurricane Katrina, the NY Times ran the headline: "A Big Storm Requires Big Government." But FEMA did an awful job. By contrast, after a big storm, private businesses like Walmart, and charities like Oklahoma Baptist Disaster Relief help many people, much more quickly.

CROWDFUNDING: Need money to expand your home, make a movie, to start a business? Crowdfunding is a spontaneous way to bring people and new ideas together without central planners. "Anybody can raise money for absolutely any idea anywhere in the world," says Indiegogo's Slava Rubin.

FREE MARKET MEDICINE: LASIK eye surgery is one area of healthcare where quality goes up, but costs go down. That happens because LASIK is rarely covered by insurance, so patients and doctors negotiate directly. Patients shop for the best deal. That spontaneity leads to better service.

BRITISH TOLL ROAD: In Britain, a local highway was damaged by heavy rains. When government said it would take a year to repair it, entrepreneur Mike Watts built a "private road" in just 12 days.

TECHNOLOGICAL ADVANCES: Government planners slow innovation with burdensome rules. In 1931, workers built the Empire State building in just over a year. Now it takes 13 years to finish the new World Trade Center. Entrepreneur Peter Thiel says America is lucky that today's FDA wasn't around when the polio vaccine was invented.

JAZZ: If life needs a central plan, how does jazz happen? Some musicians just listen to each other, and create an "unhampered, unhindered expression of complete freedom." Some say, that could have only happened in America.

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