By John Stossel
In the short time since President Obama
was re-elected, government has issued hundreds of new regulations. The
bureaucrats never stop. There are now more than 170,000 pages of federal
regulations.
President Obama wants still more rules.
Cheering on increased financial regulation, he said, "We've got to keep
moving forward." To the president, and probably most Americans,
"forward" means passing more laws.
It is scary to think about a world
without regulation. Intuition leads us to think that without government we'd be
victims of fraud, as I explain in my latest book, "No, They Can't!"
But our intuition is wrong.
Consider this: An entire sector of the
economy operates almost entirely without government controls. Complete
strangers exchange big money there every day.
It's the Internet. It does have
regulation, just not government regulation.
On my next TV show, titled "Freedom
2.0" (which the Fox Business Network airs this Thursday at 9 p.m. EST),
economics professor Ed Stringham explains that Paypal.com, which transfers
billions of dollars for people, at first…
Source: Town Hall
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