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March 29, 2015 by Ted 50 Comments

John Stossel – The Chosen Ones: How Government Creates Crony Capitalism 4/5/13

April 5th This video may contain copyrighted material. Such material is made available for educational purposes only. This constitutes a 'fair use' of any such copyrighted material as provided...

Archived from the live Mises.tv broadcast, this lecture by David Stockman was presented at the Mises Circle in Manhattan: "Central Banking, Deposit Insurance, and Economic Decline." Includes...
Video Rating: 4 / 5

Filed Under: Crony Capitalism Tagged With: 4/5/13, Capitalism, Chosen, Creates, Crony, Government, John, Ones, Stossel

Comments

  1. Bradley Frank says

    March 29, 2015 at 8:13 pm

    The chosen ones: How government creates crony capitalism… John Stossel –
    The Chosen Ones: How Government Creates Crony Capitalism 4/5/13

    Reply
  2. TheTubeTempest says

    March 29, 2015 at 8:27 pm

    if sugar is to cheap then big oil would suffer from dirt cheap ethanol.

    Reply
  3. a troll god says

    March 29, 2015 at 9:10 pm

    tax em tax em tax em your government at work

    Reply
  4. ExcitingAds! Inc. says

    March 29, 2015 at 10:05 pm

    https://www.youtube.com/watch?v=SVD1gEEO0Tk

    Reply
  5. Axiom says

    March 29, 2015 at 10:45 pm

    https://www.youtube.com/watch?v=SVD1gEEO0Tk

    Reply
  6. Gameventuretime says

    March 29, 2015 at 11:21 pm

    maybe a dumb question on the car-boats, but why not just have a switch or
    something that disables the airbags when the car-boat is in water.

    Reply
  7. 51MontyPython says

    March 30, 2015 at 12:12 am

    New York is a lost cause. That’s all I can say. They’re all communists.

    Reply
  8. Ivan Contreras says

    March 30, 2015 at 1:07 am

    Vulgar libertarianism at its finest, hey stossel read kevin carson, eye
    opener

    Reply
  9. Sean Marsh says

    March 30, 2015 at 1:43 am

    Kennedy is so sexy!

    Reply
  10. LibertyMama says

    March 30, 2015 at 2:09 am

    Geez I wish Stossel would’ve asked Beck “Why not Ron Paul.” Instead Beck
    got off without having to explain NOT backing the one Constitutional
    candidate in the primaries… even called him dangerous; ridiculed Ron Paul
    over and over on his radio program and on his news site “The Blaze.” All
    this after spending the previous 2 years on FOX opining the loss of the
    Constitution, educating about the Constitution and the Founding Fathers. No
    one’s that stupid… he’s a misleader.

    Reply
  11. Mark Marsh says

    March 30, 2015 at 2:58 am

    that was pretty impressive when Stossel admitted how stupidly close to the
    fury of the ocean he built his house which was soon enough destroyed BUT,
    because he signed up for Federal Flood Aid, he never lost a dime…then he
    admitted that he’s ashamed of how he gamed the government to “bail him out”
    of a risk that was foolish and should have been his alone…he really
    didn’t have to do that so I give him 10 points for honesty in
    journalism…I can’t believe I’m saying that about a FOX Host

    Reply
  12. Derek Jones says

    March 30, 2015 at 3:26 am

    Reply
  13. Jaroslav Záruba says

    March 30, 2015 at 3:39 am

    One of the best videos from this amazing educational channel

    It has Glenn Beck in it, admitting he’s become a libertarian. Yh, it’s
    kinda an old news but whatever…

    #johnstossel #liberty 

    Reply
  14. Ozbrithian says

    March 30, 2015 at 3:47 am

    Rather than bitching and moaning about who is or isn’t a True Scotsman
    libertarian people should focus more on improvement.

    The focus shouldn’t be about who is or isn’t such an such a label or who
    isn’t libertarian enough the focus should be on how great it is that more
    and more people are shifting towards libertarianism.

    Don’t hold your breath waiting for Republicans to embrace ending the drug
    war, instead celebrate when one changes his mind on medical marijuana. And
    if some Republicans actually start meaning it when they call themselves
    financial conservatives that’s great. Same with Democrats, but being in
    power at the moment they seem to have little incentive to do anything other
    than attack all critics of Obama.

    Reply
  15. Sophie Doell says

    March 30, 2015 at 4:19 am

    Food for thought from John Stossel.

    Reply
  16. The Best says

    March 30, 2015 at 5:12 am

    Reply
  17. Amar Jit Singh says

    March 30, 2015 at 5:52 am

    what else Oligarchy is? OK moving toward Oligarchy.

    Reply
  18. Freemind says

    March 30, 2015 at 6:07 am

    I’ve sort of have gone through the same journey Glenn Beck is right now.
    Only difference is that it’s gone through much faster. My libertarianism is
    sort of reactionary to the 2012 election results. I also supported Rick
    Santorum at one time too. Now looking back I’m glad he didn’t win the
    nomination. Truthfully only one person could’ve beaten Barack Obama big
    time and that was Herman Cain who’s 999 Plan I was (and still am) a big fan
    of. But any GOP candidate in the end is BETTER than Obama.

    Reply
  19. GaryVolts says

    March 30, 2015 at 6:50 am

    Sometimes crops are better suited to other climates, like they have more
    water or solar incidence, or the type of soil that that this particular
    crop needs, or that the cultivation is labor intensive and that country has
    surplus labor to deploy. I think you can make a stronger argument if you’re
    talking about some high order capital intensive product like
    semiconductors, but farming just sounds like protectionism.

    Reply
  20. GaryVolts says

    March 30, 2015 at 7:22 am

    I understand what you’re getting at, but if we all got cheaper food for a
    while that would be great, and if they raised the price later, it isn’t
    like we’ve lost the formula for growing suger beats or anything, they could
    just put the crops back in. These are mostly just CLAIMS of subsidy as a
    way of justifying protection for their markets.

    Reply
  21. Khazrihl says

    March 30, 2015 at 7:49 am

    It takes a humble man to say ‘I’m ashamed’ on national television.

    Reply
  22. Ivan Contreras says

    March 30, 2015 at 8:41 am

    To abolish war abolish humanity, then send god a letter and tell him to do
    a better job when he creates

    Reply
  23. ForlanceAbice says

    March 30, 2015 at 9:29 am

    Then the United States is well on its way to collapse. There is no
    solution. This country is going to burn and smolder.

    Reply
  24. jhnnhys says

    March 30, 2015 at 10:00 am

    Enough is Enough

    Reply
  25. samuils says

    March 30, 2015 at 10:55 am

    Ive been listening to Glenn on and off, for quiet some time, maybe he said
    something as far as approving gvt. force, every single time I wasnt
    listening. But that would make it for an odd conspiracy :). I didnt hear
    him advocating gvt. force. Unless you mean enforcing the law? Well he is
    Libertarian not an anarchist

    Reply
  26. soapbxprod says

    March 30, 2015 at 11:24 am

    David Stockman is a freaking genius with the ethics of a philosopher-poet.
    I love you, Mr. Stockman (in an avuncular way)!
    And Lew Rockwell… ROCKS! Viva MISES! :)

    Reply
  27. Jeff Cohn says

    March 30, 2015 at 11:39 am

    Funny how David couldn’t imagine anyone worse than Bernanke? Is Yellen
    better? 

    Reply
  28. Laura Hoke says

    March 30, 2015 at 11:42 am

    Please check out this weekend event in Southern MN Aug 22-24th for Austrian
    Economists, Agorists, Lovers of Liberty, Free Markets, Sound Money, and
    Peace! https://agorafest.com/ and please follow us on Twitter at
    https://twitter.com/AgoraFest

    Reply
  29. inky mark says

    March 30, 2015 at 12:26 pm

    Crony business

    Reply
  30. David Winans says

    March 30, 2015 at 1:10 pm

    Reply
  31. MrYbridges says

    March 30, 2015 at 1:22 pm

    You mean how global capitalism destroys the US market. Be HONEST. Globalist
    pig.

    Reply
  32. B Charron says

    March 30, 2015 at 2:13 pm

    “The essence of capitalism is to turn nature into commodities and
    commodities into capital. The live green earth is transformed into dead
    gold bricks, with luxury items for the few and toxic slag heaps for the
    many. The glittering mansion overlooks a vast sprawl of shanty towns,
    wherein a desperate, demoralized humanity is kept in line with drugs,
    television, and armed force.”

    Reply
  33. darthvader5300 says

    March 30, 2015 at 3:05 pm

    We have to rebuild our society, as a productive society. We have to launch
    new industries. We have to use the space industry, as a science-driver,
    actually–not the way it’s being done now, but a science-driver program to
    develop new technologies: the use of nano-technology, which is one of the
    important technologies; other technologies coming along.

    So, we will have to employ people on a large scale, as Roosevelt did, in
    public works, based largely on either government–that is, Federal, or
    state, or even local government–utilities; or we will have public
    utilities which are chartered by state governments, like we used to have
    public utilities, for things like power and so forth: high-volume; certain
    large-scale government project, to local public utilities. People can
    invest safely, their savings, in these kinds of public utilities, because
    we regulate the system, to make sure these things are safe for them. 

    Reply
  34. cr4yv3n says

    March 30, 2015 at 3:36 pm

    Talk about DENIAL DESPERATION.
    A whole TV station called “MisesTV” broadcasting right wing corporate
    pro-capitalist propaganda xD
    “Crony” capitalist, rofl…right.
    There’s nothing “crony” about it – that’s how capitalism in its REAL FORM
    WORKS xD

    Reply
  35. Steve Law says

    March 30, 2015 at 4:34 pm

    How Crony Capitalism Corrupts the Free Market | David Stockman

    Reply
  36. j4ck2234 says

    March 30, 2015 at 5:02 pm

    You relalize that before there were these programs the people did not die
    like flies right? And this was back when the average income was like a 10th
    of what it is now. So that immediately disproves your assertion, please
    understand that. He’s not ‘keeping quiet’ hes just not running for any
    office. You shouldn’t swallow government propaganda like this, just read a
    history book about how people managed wellfare before the state got
    involved. Fascists are in favor of food stamps btw.

    Reply
  37. Johan Bach says

    March 30, 2015 at 5:39 pm

    Really? So communism, a stateless system, benefits the state at the expense
    of the individual people? Yes makes sense.

    Reply
  38. 4lifejackhammer says

    March 30, 2015 at 5:55 pm

    perhaps the solution, then, is no government? Certainly anarchic communist
    communities would do better than the Mao personality cult.

    Reply
  39. peeweecx says

    March 30, 2015 at 6:42 pm

    Excellent

    Reply
  40. Moragauth says

    March 30, 2015 at 7:16 pm

    Hmm… so what asset classes would it be good to invest in in this
    environment? I know commodities preserve wealth, but for growing it?

    Reply
  41. iTroII1 says

    March 30, 2015 at 7:31 pm

    You ever ask yourself why America became the wealthiest country in the
    world, with a strong middle class? Capitalism is the answer to that
    question. You can gladly piss off and move to a socialist, or communist
    country.

    Reply
  42. Victor Kauffman says

    March 30, 2015 at 8:23 pm

    They soon saw however that this kind of system could not sustain itself
    indefinitely. The apostle Paul say here: For even when we were with you,
    this we commanded you, that if any would not work, neither should he eat.
    (2 Thessalonians 3:10)

    Reply
  43. Victor Kauffman says

    March 30, 2015 at 8:48 pm

    You sound pretty amazingly stupid yourself.

    Reply
  44. Richard Hasting says

    March 30, 2015 at 9:28 pm

    Gold is only a preservation of wealth. Owning assets that produce things
    that people NEED is an investment. Examples: a repair shop, farm land, saw
    mill, a copper mine, timber forest, cement factory, oil well, fishing boat
    and things like that.

    Reply
  45. QCREIGN says

    March 30, 2015 at 9:43 pm

    In the current system I completely agree that supporting unlimited corprate
    money is damned evil. But in a sound monetary system that would be fair and
    moral. In the current monetary system where the government and the fed
    print(which essentially steals value from everyone else) and give it to
    their buddies, unlimited corprate money in elections is damned evil.

    Reply
  46. batmanthe says

    March 30, 2015 at 9:51 pm

    lengthyounarther is a top notch Anarcho-capitalist / Austrian youtuber but
    a second rate troll lolz.

    Reply
  47. j4ck2234 says

    March 30, 2015 at 10:43 pm

    +Yes, unemployment is a government program, they call it minimum wage.

    Reply
  48. j4ck2234 says

    March 30, 2015 at 11:20 pm

    +Fascism is not a free market doctrine, that’s the whole point of fascism;
    “All within the state, nothing outside the state, nothing against the
    state”. Fascists were generally former socialists (Mussolini for example),
    it’s called national SOCIALISM for a reason. +Ron Paul is a good man, I
    admire him very much.

    Reply
  49. Moragauth says

    March 31, 2015 at 12:07 am

    You certainly managed to produce a lot of shit in your comment, Also, why s
    much obsession over Lengthyounarther’s comment? He is a hardcore
    anarcho-capitalist.

    Reply
  50. j4ck2234 says

    March 31, 2015 at 12:57 am

    This isn’t quite the caricature of Libertarianism that you have been
    exposed to I imagine.

    Reply

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