John Stossel — One Reporter’s Coming of Age

Newsman John Stossel explains how he became a more intelligent consumer reporter — and why the leftist legacy media hates him for it.  From the article:

As a local TV reporter, I could find plenty of crooks. But once I got to the national stage — “20/20” and “Good Morning America” — it was hard to find comparable national scams. There were some: Enron, Bernie Madoff, etc. But they are rare. In a $14 trillion economy, you’d think there’d be more. But there aren’t.

I figured out why: Market forces, even when hampered by government, keep scammers in check. Reputation matters. Word gets out. Good companies thrive, and bad ones atrophy. Regulation barely deters the cheaters, but competition does.

It made me want to learn more about free markets. I subscribed to Reason magazine and read Cato Institute research papers. Then Milton Friedman, Friedrich Hayek and Aaron Wildavsky.

My reporting changed. I started taking skeptical looks at government ..

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