Classic Stossel: Regulation Overload with Peter Thiel

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 America is lucky that today’s FDA wasn’t around when the polio vaccine was invented.

A Stossel Classic from 2016

[Delta_]

Milton Friedman said "If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand."

[dbudny]

The problem is that rules and regulations are created by non-elected cronies that are part of "agency's".

[aaa]

“The most terrifying words in the English language are: I’m from the government and I’m here to help.” Ronald Reagan

[cquilty]

I am reminded of a young woman in Hawaii back in the 70's or 80's. She escaped from an abusive relationship, and started a small service to help other women in the same plight. As soon as she started hiring people to help grow the service, government regulators stepped in and laid out an encyclopedia of regulations she had to comply with in order to run a business with paid employees. She was providing a needed and helpful service far below the cost of professional and government help. The regulators put her out of business. Before she started, she saw government as the potential savior of all. After, she saw government as the soulless over reaching monster it is. Literally, in a space of weeks, she went from a hard core blue dog democrat to a libertarian. Where I live, I need local government permission to paint my house! I used to think it was my property. No more.

[kvogel]

Now the woke tech billionaires want to make sure that nobody else can do what they did.

[stvargas]

Ironic that big tech wants the govt to stay out of their business but they want to be all up in our business

[Ntmoffi]

Everything the government touches it f*cks up.

[presidentmerkinmuffley]

"I believe there are more instances of the abridgement of freedom of the people by gradual and silent encroachments by those in power than by violent and sudden usurpations." -James Madison

[Max-ntzs]

I like how they showed the Facebook thing when they talked about lack of regulation the first time, but now Facebook is trying to get regulation to destroy competition. 😝

[kenm.]

Politicians just want to see if they can get a ‘cut’ of any future profits.

[rothbardfreedom]

If someone says X is good, but make it mandatory, you can be sure that X is bad.

[noone]

When the state is most corrupt, then laws are most multiplied. - Tacitus

[Goldhunter]

It's like music. When it gets too complicated and glittery - the next generation takes it back to the garage.

[bincho]

interesting bit about the vaccines since regulations were ignored a bit for the new vaccines for covid. interesting to see how it has aged.

[DenTheGodKing]

I’m drifting further and further libright everyday. Keep up the good fight John!

[sebastiantrias]

You should bring back Peter Thiel he’s making big moves now.

[ACreeber]

Stossel has taught me more than any school teacher ever did ♥️

[groovetube]

In my town the state DOT has been working on a 5-mile bypass for 25 years.

[ernestbywater]

You forgot to mention the single biggest political roadblock to innovation: Politicians paid by the lobby groups that MAY lose money should a new invention get through and approved.

[rainphantom]

Oh my god, this government involvement is insane