Interesting to see so many comments and views. I find it interesting students are being told to watch this video for class as the reason I originally uploaded it back in 2006 was for a discussion group in a philosophy class I was taking back in college.
Frame of reference for anybody watching today. This was made in 1999. A completely different (and better) country and culture. Lot of these arguments made from the 1999 view no longer hold up today.
Thanks for posting this excellent video Payeco. Along with his evidence Stosell fairly presented the opposing viewpoint. Stossell's lesson about economic freedom cannot be disputed by any open-minded person.
money-market mutual funds were invented in the 1970's that gave market interest rates, so depositers fled from the s&l's in droves to put their money into these mutual funds. instead of letting the s&l's go under,legislation freed the s&l's to make loans in all sorts of high risk speculative ventures. but the liabilities were still GUARANTEED by the FSLIC. since the s&l's had nothing to lose, this gave them the incentive to engage in reckless loans. the failed loans led tothe recessions of 80's.
I am a Indian and I live in USA now. I am the witness of rising standard living of Indiqns in last ten years. USA was a land of oppertunity but recent recession proved this is not a best place to live in anymore. Where as india is growing so fast that who came to USA 10-20 yrs back from india think tht theay are backwards than their causins who stayed in india.
@banda106 Yeah, I have high hopes for India. They're a good people with good values. Good students and quick learners. I'm proud to be in competition with India which IS a free country. Upper, middle, lower classes will all find their comfort zone and, like the USA, they will live in a hope filled society. God Bless India!
Turd Flinging Monkey SUCH a clutch point 31 minutes in, I actually said that in a 2015 docu on the evil 1% and ofc everyone jumped on me because I suggested that they improve themselves, they get more certs (I know its stupid, but to play the game it is necessary for now) and essentially use their time while unemployed to get better. I also talked about the difference between relative poverty (as most in the video whining were overweight/had a place to live and had a computer/tv) and absolute poverty (starving/no home/no computer and really no opportunity). Ofc I'm a Darwinist, people hater and have no empathy....even though on my channel, you can learn about almost every subject out there and I always do my best to get back to people asking me questions....yes according to them, I am the issue, never mind that when you measure my "good" output in helping others relative to theirs...THEY are actually leaving people to fend for themselves, THEY are actually not doing anything for anyone and THEY are actually the ones WAY more greedy...but it went to show you (wish the video didn't get deleted) that my original point about people's inherent greed and self-interest is ALWAYS true....even for the do gooder intellectuals who often end up producing WAY worse things (if at all) than those that think like me and you. Oh and the best thing...it was a BBC docu and it was showing how difficult it was to find jobs in Britain, how poor people are SO oppressed etc etc and you know what I found on the internet after about 70 comments having all of the above happen.. www.dailymail.co.uk/news/article-2977208/It-pays-40-000-year-no-one-wants-chick-sexer-hardest-job-Britain.html The cold harsh Darwinist struck again!
Had to watch this in my econ class, made me want to gouge my eyes out... also glad to be the 666th comment ^-^ edit: damn, how tf did the comments decrease??
saw much of this in Egypt...in Cairo, three of us Amercian with our Egyptian guide...about 4 little kids came up begging for baksheesh...we gave them some money and within seconds, maybe 50-80 kids swarmed out into the street tugging and begging...our guide held up his hand and told them go away and he would take care of them later and they obeyed..WHEW!
I don't know about Canada, but I've lived in the UK for the past 5 years, and people here are hardly jealous of the US. If anything, people in the UK are acutely aware of the societal ills in the US and find their own backyard a bit more desirable.
@oifex: I am an Indian, i believe the American way to things is the best possible way. India's socialist policies till 1995 gave us nothing but hunger and population. In 15years of open market, we have become the third largest economy, not to be credited to anyone but America. European socialism gave india nothing but slavery, loot and instability. So, you are right, there is an undertone, but thats all good by me.
I run the smallest store in a town of 7,000 people and have a 500 page book of rules any one can broken can get me fined to prison time-- I have made it now 35 years but insurance then has went from $150 a year to over $2000--
it's difficult to objectively measure whether your country is the best. but if you like, then it's fine to say your country is the best. if youre in north korea or zimbabwe and you feel like your country is the best, that's fine! i feel america is the best for my own reasons, i have lots of freedom and lots of things people in other countries will never have. if i were in north korea though i would be very unhappy. i'm happiest here, so i feel this country is the best.
True to a degree, but that's only because England in particular is crowded, Scotland and Wales are less so. In crowded England, your average person lives in either a terraced house (a house that's wall-to-wall with other houses along a particular street) or a semi-detached house (a house that's only attached to one or two other houses and not in a long series along the street).
@@janetlee9709 Yeah, now 20 years later, and a lot is still on point. I've since read Peter Zeihan's book, The Accidental Superpower, and it outlines though a geopolitical lense how we got here and why it's not likely to change anytime soon.
So swiss economy is actually a little diffrent then perciefed. For an example our export is on percentage the highest (money wise, and percentage is counted to population) in the whole world. (1. Switzerland: 12'400 US dollars, 2. Japan: 8'600 US dollars, 3. Germany: 7'700 US dollars.) We export mostly pharmazeuticals, precision machinery, luxury goods and foodstuff. (Banks only make about 5.1% of the swiss national income)
“When you dont have a crutch to support you it changes your attitude” Is literally saying the fear of starvation and homelessness is the motivator of capitalism and you should solely work to fend off starvation. INSANE
Also, as a way to look at debt that could be useful in your class, to loan money is to loan money that you asume you will earn in the future. So basically you pay a percentage of the money you will earn to someone else, so that you can spend the money you will earn now, so you have less money tomorrow. The only way to rationally borrow money is for the express purpose of investing it in such a way that it makes your income go up more than the interest rate you pay on the loan.
Seriously, you are low when you need to compare your country to India to feel it's quite good :D:D We in Finland compare our selves to you when we need feel good about our country!
Higher income than Australia, your dreaming, bus drivers here earn around $90,000 a yr, $20 a hr is starting money, most people earn double that, if you think America has more, you need to travel, and I have good information, my daughter and grandkids are American
This story still sounds pretty patriotic. According to a study about what country it's best to be born in, in 2013 America was not that high. The governments in Scandinavian countries take care of lots of things and they are among the best countries to live in, when you look at freedom, health care, education, equal rights.. I would rather live there than in America. They should have compared America to one of those countries, too. Where I live now is okay too: I'm born and raised in Amsterdam.
I've seen his series. It ignores several critical points: 1) The NHS is the biggest employer in Europe, and thusly grants contracts to anyone who can supply them with innovative medicine; 2) The companies that contract with the NHS have been able to do so because they've been able to prove that their treatments will work for the patients' good, which is the chief concern of the NHS as opposed to profit; 3) Many Americans are left without medical coverage because medicine is for-profit in the US
It takes one form at the secretary of state's office in New Hampshire to form a home business. Most towns and cities don't care if you start a home business as long as cars won't be pulling up in the yard every hour of the day. I'm sure other US states have similar rules. Micropreneurship RULES! And Americans still know how to do it well, if not best.
Considering this came out a decade ago at the end of 1999, America is a special case in terms of views of whether or not we are Number 1. for me, i love it here but the politicians and some bad influences make us look bad
"Hong Kong is just a rock with no..." Stossel forgot to mention they have the largest copper producer in the world & it's socialized. The also have socialized health insurance.
Yes because we have a bunch politicians in office that advocate the opposite of what Stossel is talking about in this presentation. Thank God we have someone like Trump and Pence trying to undo all the damage.
But that's exactly the point, most poor people don't have shelter or shoes on their feet, let alone colored TV's or cars. The clip is exploring not whether America is a country of social equity, but rather the reason WHY the American (or Hong Kongese) poor by a vast margin. The reason why America has become rich within two centuries is exactly the free enterprise system which brings wealth to everyone.
This is disgusting. How the fuck are more cars better if we're stuck in traffic all day?? We have the worst transportation... also, we should be striving to better ourselves, not be satisfied with what we have now. We need electric cars and mindful consumption, not obesity and air pollution.
You're free to go elsewhere..."Your MASSIVE present US Govt" have spent BILLIONS of MY$$$, to BAILE out ALL those American Auto companies, you're complaining about... Hence, you contradicted your point... And, just PROVED BIG POWER Govt, makes a society worse! The SELF-RELIANT INDIVIDUAL, and MAX LIBERTY WORKS!!!✌️💙🇺🇸
@MaddDogg81 Don't forget Sweden. Labled: "The most succesful society on earth". Also, what they don't bring up on this video is the effects that capitalism have on the environment.
youre on the right track there. if you look at the more autonomous public schools (charter schools) they are much more efficient, have higher teacher pay, and not coincidently have much lower turnover rates and much higher graduation rates. less gov regulations does wonders.
England, Scotland and Wales are all quite free actually. Britain as a whole, in fact, is freer than the US, I assure you. People here are more conscious of their rights, and socialism only reinforces the rights of workers and consumers here, who compared to their American counterparts are far less shackled with debt (mainly owing to not having to pay exhorbitant medical bills from a capitalist, profit-driven medical industry).
come on guys... The video is not really about whether or not America is the number one nation, It is instead a powerful demonstration that economic freedom is beneficial to everyone in society!.... ANY society
I don't think people in Hong Kong is that rich. Most of the middle class can't even afford an 800-ft sq apartment. And the government didn't even try to bring down the price of houses and they didn't do anything about inflation. True story.
@tedfreeway You bring up a valid point. But...I believe dmeiske1 was really talking about birth rate. I don't know what they are for both India and Hong Kong. I just know that population density is not the same as birth rate.
POV: your teacher made you watch this video for class
Nailed it on the head.
Yeah lol it was assigned just today
Yep
Yep, for summer school
your here from TiKtOk
No. I’m here for my social studies project
No, I'm here for my economics homework
Is there a tiktok video from this video? I'd love to see it.
this video is too long for only 5 points extra credit haha
lol, thanks for uploading this. I watched this in my Economics class and I needed a refresher.
How's life 13 years later
@@fifia4618 i- you really
I want to know too.
count me in how is it actually??
Anyone watching this in 2020?
lol, this is s good informative document. thanks to this my view have been opened to so much more.
I originally saw this vid Ten Years ago and still much is on point.
Watching it now only because it's a requirement for Economics class. 2021, this is outdated.
i'm sorry, but this is unironically political propaganda
Interesting to see so many comments and views. I find it interesting students are being told to watch this video for class as the reason I originally uploaded it back in 2006 was for a discussion group in a philosophy class I was taking back in college.
Still watching it now
I'm watching this every fourth of july
Superb piece.
American: Were #1 in the world, bitch!
Canadian: Dude, calm down.
Love those TV sets!
I like how long they stayed on 2:04
long answer: no. short answer: no.
Frame of reference for anybody watching today. This was made in 1999. A completely different (and better) country and culture. Lot of these arguments made from the 1999 view no longer hold up today.
@TayDays1128 Freedom is what still applies. Constitutional conservatism.
Thanks for posting this excellent video Payeco. Along with his evidence Stosell fairly presented the opposing viewpoint. Stossell's lesson about economic freedom cannot be disputed by any open-minded person.
I have made it my mission to watch and read everything by this knowledgeable and intelligent libertarian John Stossel.
He has thousands of hours of videos
You're better off making it in America
Nicely said, greetings from over the Atlantic.
anyone watching in 2021?
I LOVE YOU PROFESSOR SINGH!!
28:15
YES! So true!
yeah I remember laughing out loud when I show this the first time in 1999
When you leave things alone, people just get on with it.
everyone who is commenting now, remember that this was made in 1999.....
Devil's Adv0cate then why don’t you move to where it’s “best”
money-market mutual funds were invented in the 1970's that gave market interest rates, so depositers fled from the s&l's in droves to put their money into these mutual funds. instead of letting the s&l's go under,legislation freed the s&l's to make loans in all sorts of high risk speculative ventures. but the liabilities were still GUARANTEED by the FSLIC. since the s&l's had nothing to lose, this gave them the incentive to engage in reckless loans. the failed loans led tothe recessions of 80's.
1999 was the best year ever
This is true my mom moved here from Scotland when i was 9 and America is great....
DAMN IT MR.DEJONG!!!
I like John Strossel. His reports are always eye-opening
I am a Indian and I live in USA now. I am the witness of rising standard living of Indiqns in last ten years. USA was a land of oppertunity but recent recession proved this is not a best place to live in anymore. Where as india is growing so fast that who came to USA 10-20 yrs back from india think tht theay are backwards than their causins who stayed in india.
I’m here from economics 😞
Thanks for your input. I'm sure you understand as an educator that education because with one.
2019 anyone?
i agree
11 years later
ole boy came in with the roasts at the end of the video
wow, this is an old one. It's cool to see how consistent Stossel has been. His tune really hasn't changed at all. Thanks for the post.
wow
28:42 That statement did n o t age well considering our some of our current president's policies
@Bradley Adams The media only covers it because the people like hearing it
@Bradley Adams that's intriguing
I wonder if being state-funded increases censorship
@Bradley Adams girl what? the kkk still exists and i’ve met people in my school with racist parents...
This was made about 14 years ago. Things have changed dramatically.
Though this is rather impartial.
Kudos on that. :)
@banda106 Yeah, I have high hopes for India. They're a good people with good values. Good students and quick learners. I'm proud to be in competition with India which IS a free country. Upper, middle, lower classes will all find their comfort zone and, like the USA, they will live in a hope filled society. God Bless India!
india 🤢
What studies show this and where can i see them
Turd Flinging Monkey
SUCH a clutch point 31 minutes in, I actually said that in a 2015 docu on the evil 1% and ofc everyone jumped on me because I suggested that they improve themselves, they get more certs (I know its stupid, but to play the game it is necessary for now) and essentially use their time while unemployed to get better. I also talked about the difference between relative poverty (as most in the video whining were overweight/had a place to live and had a computer/tv) and absolute poverty (starving/no home/no computer and really no opportunity).
Ofc I'm a Darwinist, people hater and have no empathy....even though on my channel, you can learn about almost every subject out there and I always do my best to get back to people asking me questions....yes according to them, I am the issue, never mind that when you measure my "good" output in helping others relative to theirs...THEY are actually leaving people to fend for themselves, THEY are actually not doing anything for anyone and THEY are actually the ones WAY more greedy...but it went to show you (wish the video didn't get deleted) that my original point about people's inherent greed and self-interest is ALWAYS true....even for the do gooder intellectuals who often end up producing WAY worse things (if at all) than those that think like me and you.
Oh and the best thing...it was a BBC docu and it was showing how difficult it was to find jobs in Britain, how poor people are SO oppressed etc etc and you know what I found on the internet after about 70 comments having all of the above happen..
www.dailymail.co.uk/news/article-2977208/It-pays-40-000-year-no-one-wants-chick-sexer-hardest-job-Britain.html
The cold harsh Darwinist struck again!
This was made in 1999. The Federal Government wasn't as much of a burden then, as it is today.
Today we are circling the drain.
I don’t know... but I think Denmark, Norway and/or Switzerland are on the top list.
Same
None of them are as market driven as Hong Kong or Singapore.
This is despite Hong Kong being severely overpopulated and still rich.
Had to watch this in my econ class, made me want to gouge my eyes out... also glad to be the 666th comment ^-^
edit: damn, how tf did the comments decrease??
yeah...imagine thinking america is the center of the universe
id like to see a recap on this today
And sorry, i didn't quite catch that. could you further explain that point?
What year is this
we'll bounce back we're America
saw much of this in Egypt...in Cairo, three of us Amercian with our Egyptian guide...about 4 little kids came up begging for baksheesh...we gave them some money and within seconds, maybe 50-80 kids swarmed out into the street tugging and begging...our guide held up his hand and told them go away and he would take care of them later and they obeyed..WHEW!
I don't know about Canada, but I've lived in the UK for the past 5 years, and people here are hardly jealous of the US. If anything, people in the UK are acutely aware of the societal ills in the US and find their own backyard a bit more desirable.
@oifex: I am an Indian, i believe the American way to things is the best possible way. India's socialist policies till 1995 gave us nothing but hunger and population. In 15years of open market, we have become the third largest economy, not to be credited to anyone but America. European socialism gave india nothing but slavery, loot and instability. So, you are right, there is an undertone, but thats all good by me.
the views after tiktok📈📈📈📈
What school do you go to?
I run the smallest store in a town of 7,000 people and have a 500 page book of rules any one can broken can get me fined to prison time-- I have made it now 35 years but insurance then has went from $150 a year to over $2000--
AMERICA ROCKS
This video missed talking about the food. Guys, how many American or Indian food do you know?
America is the number one arms maker.
it's difficult to objectively measure whether your country is the best. but if you like, then it's fine to say your country is the best. if youre in north korea or zimbabwe and you feel like your country is the best, that's fine! i feel america is the best for my own reasons, i have lots of freedom and lots of things people in other countries will never have. if i were in north korea though i would be very unhappy. i'm happiest here, so i feel this country is the best.
True to a degree, but that's only because England in particular is crowded, Scotland and Wales are less so. In crowded England, your average person lives in either a terraced house (a house that's wall-to-wall with other houses along a particular street) or a semi-detached house (a house that's only attached to one or two other houses and not in a long series along the street).
Now that it's 10 years later, I'd be interested in seeing a follow up to this.
good stuff tho. :)
it’s still the same
@@janetlee9709 Yeah, now 20 years later, and a lot is still on point. I've since read Peter Zeihan's book, The Accidental Superpower, and it outlines though a geopolitical lense how we got here and why it's not likely to change anytime soon.
Noble Bear Wow, i didn’t actually expect you to respond. thank you for that, and i hope you have a great day ☺️
@@janetlee9709 You too! :D
LOLOLOLOL
"be the pilot of your own life,if you wanna make your own destiny"
watching this for bus10 >.<
Hong Kong is AMAZING!!!
@r2d23678 what do you mean by #1? what makes you #1?
So swiss economy is actually a little diffrent then perciefed.
For an example our export is on percentage the highest (money wise, and percentage is counted to population) in the whole world. (1. Switzerland: 12'400 US dollars, 2. Japan: 8'600 US dollars, 3. Germany: 7'700 US dollars.) We export mostly pharmazeuticals, precision machinery, luxury goods and foodstuff. (Banks only make about 5.1% of the swiss national income)
“When you dont have a crutch to support you it changes your attitude”
Is literally saying the fear of starvation and homelessness is the motivator of capitalism and you should solely work to fend off starvation. INSANE
16:15 HAHAH Stossel's hair.
Looks fine to me
Also, as a way to look at debt that could be useful in your class, to loan money is to loan money that you asume you will earn in the future. So basically you pay a percentage of the money you will earn to someone else, so that you can spend the money you will earn now, so you have less money tomorrow. The only way to rationally borrow money is for the express purpose of investing it in such a way that it makes your income go up more than the interest rate you pay on the loan.
LOL @ the old CRT TVs
Seriously, you are low when you need to compare your country to India to feel it's quite good :D:D We in Finland compare our selves to you when we need feel good about our country!
Higher income than Australia, your dreaming, bus drivers here earn around $90,000 a yr, $20 a hr is starting money, most people earn double that, if you think America has more, you need to travel, and I have good information, my daughter and grandkids are American
As an Australian I believe that America has a higher income 100%
You know how he said there was a survey about how people are satisfied with their lives? Guess who ranked above the USA?
Nigeria.
This story still sounds pretty patriotic. According to a study about what country it's best to be born in, in 2013 America was not that high. The governments in Scandinavian countries take care of lots of things and they are among the best countries to live in, when you look at freedom, health care, education, equal rights.. I would rather live there than in America. They should have compared America to one of those countries, too. Where I live now is okay too: I'm born and raised in Amsterdam.
What FREEDOM? You can't even smoke pot out in the open without cops throwing you in jail.
@MrJacobthe4th
Awesome for ya.. Not exactly sure what it added to the conversation, but all the same I'm sure someone is happy for you somewhere.
America is about change via liberty
New Zealand used to have the most Ferrari's per capita of any country in the world, but we werent even close to being in the top 10 richest countries.
Compared to other rich countries America has the lowest federal minimum wage
I've seen his series. It ignores several critical points:
1) The NHS is the biggest employer in Europe, and thusly grants contracts to anyone who can supply them with innovative medicine;
2) The companies that contract with the NHS have been able to do so because they've been able to prove that their treatments will work for the patients' good, which is the chief concern of the NHS as opposed to profit;
3) Many Americans are left without medical coverage because medicine is for-profit in the US
hahahaha that documentary
it's #1 in my legendary fail video library
it is a comic show ?
The standard of living is higher than the U.S. now. Price control on houses have screwed over tons of New Yorker btw.
It takes one form at the secretary of state's office in New Hampshire to form a home business. Most towns and cities don't care if you start a home business as long as cars won't be pulling up in the yard every hour of the day. I'm sure other US states have similar rules. Micropreneurship RULES! And Americans still know how to do it well, if not best.
Considering this came out a decade ago at the end of 1999, America is a special case in terms of views of whether or not we are Number 1.
for me, i love it here but the politicians and some bad influences make us look bad
"Hong Kong is just a rock with no..." Stossel forgot to mention they have the largest copper producer in the world & it's socialized. The also have socialized health insurance.
But free market!!!!!
watching this for bus10
This is years old and things are much worse nowadays.
Yes because we have a bunch politicians in office that advocate the opposite of what Stossel is talking about in this presentation. Thank God we have someone like Trump and Pence trying to undo all the damage.
But that's exactly the point, most poor people don't have shelter or shoes on their feet, let alone colored TV's or cars. The clip is exploring not whether America is a country of social equity, but rather the reason WHY the American (or Hong Kongese) poor by a vast margin. The reason why America has become rich within two centuries is exactly the free enterprise system which brings wealth to everyone.
Go Go Warmongers !!
* insert Power Rangers theme song here *
This is disgusting. How the fuck are more cars better if we're stuck in traffic all day?? We have the worst transportation... also, we should be striving to better ourselves, not be satisfied with what we have now. We need electric cars and mindful consumption, not obesity and air pollution.
You're free to go elsewhere..."Your MASSIVE present US Govt" have spent BILLIONS of MY$$$, to BAILE out ALL those American Auto companies, you're complaining about...
Hence, you contradicted your point...
And, just PROVED BIG POWER Govt, makes a society worse! The SELF-RELIANT INDIVIDUAL, and MAX LIBERTY WORKS!!!✌️💙🇺🇸
Who's stopping u? Nissan, Chevy, ford and more companies all sell EV models and big brother will even subsidize "your" purchase of one or more
Are u a trillionair? I didn't think so and if they didn't loan our billions the transportation industry would have crumbled overnight
Plus didn't most of the companies already pay us back with interest? Yup
@MaddDogg81 Don't forget Sweden. Labled: "The most succesful society on earth". Also, what they don't bring up on this video is the effects that capitalism have on the environment.
youre on the right track there. if you look at the more autonomous public schools (charter schools) they are much more efficient, have higher teacher pay, and not coincidently have much lower turnover rates and much higher graduation rates. less gov regulations does wonders.
England, Scotland and Wales are all quite free actually. Britain as a whole, in fact, is freer than the US, I assure you. People here are more conscious of their rights, and socialism only reinforces the rights of workers and consumers here, who compared to their American counterparts are far less shackled with debt (mainly owing to not having to pay exhorbitant medical bills from a capitalist, profit-driven medical industry).
From what I understand, Cowperwaithe (governor of HK) repudiated the infant industry argument.
I Know, Right?
come on guys... The video is not really about whether or not America is the number one nation,
It is instead a powerful demonstration that economic freedom is beneficial to everyone in society!.... ANY society
I don't think people in Hong Kong is that rich. Most of the middle class can't even afford an 800-ft sq apartment. And the government didn't even try to bring down the price of houses and they didn't do anything about inflation. True story.
hk died already since 1997
M'kay
we are the best the problem is that our own people don't know it
@tedfreeway You bring up a valid point. But...I believe dmeiske1 was really talking about birth rate. I don't know what they are for both India and Hong Kong. I just know that population density is not the same as birth rate.