On Stuart Varney’s FBN program this morning, they debated whether the financial “reform” bill will kill job creation. I can’t see how a two-thousand plus-page law ever avoids doing that. Politicians, many of whom are lawyers, share the conceit that they can manage life with paper and procedure. They don’t understand that just the quantity of their rule cause entrepreneurs to simply say: “I won’t even try.”
Why did German and Japan thrive after WWII? Because American bombs destroyed years of accumulated bureaucracy. Well, that’s probably one big reason. Their new governments started from scratch. With fewer rules, German and Japan prospered. America now moves in the opposite direction.
“We could spend several lifetimes trying to prune the jungle of law and entitlements that have overgrown our society.”
That’s from Philip K. Howard’s latest column , which points out that:
“Law has wrapped around every social interaction. Doctors go through the day thinking about self-protection from lawsuits. (Washington Post op-ed.) Teachers have lost control of the classroom because of the application of legal due process to ordinary disciplinary choices. (Wall Street Journal op-ed.) Governors and mayors are unable to balance budgets because of promises made by their predecessors. ( Wall Street Journal op-ed.)...”
As a result,
“[t]he can-do society has become the no-can-do society.”
Howard’s solution is
“ a popular movement to overhaul law and government to revive a time-honored operational principle--individual responsibility...”
I can’t see how that will happen. On my show Thursday, I propose the “Stossel Rule.” It says that for every new law we pass, we must first repeal 5 old ones.
I cannot see that happening either. But it would be a good start.
This Week's Show -- July 10, 2014
CENSORSHIP AT CBS: Investigative reporter Sharyl Attkisson has a similar story. She explains why she left CBS after it became "harder and harder to get stories on television" that criticized this government and "any powers that be."
IS STOSSEL BIASED?: Years ago, journalist Howard Kurtz criticized me for not being objective. I said it's impossible for any journalist to be completely objective. Now that Howard Kurtz is on Fox, we debate again.
THE OBJECTIVITY MYTH: Andrew Kirell of Mediaite.com says, "every journalist has a point of view and they don't just magically check it the minute they walk in the newsroom door."
NEW MEDIA: Reason TV's Remy Munasifi uses music videos and parodies to complain about things like politicians' spending. One of his latest parodies highlights the scandal surrounding the VA hospitals. Munasifi discusses his videos, which have gone viral on YouTube.
RETRO REPORT: It's great there's a new media organization called Retro Report, which reveals media hype of the past ("crack babies," America's landfill "crisis," the "superpredator," etc.) and corrects stories everyone in the media got wrong. I discuss the new show with its executive producer, Kyra Darnton.
REAL OR FAKE?: Sometimes people in the media say things that are so bizarre, you'd think they were made up. Kennedy of The Independents quizzes FoxBusiness.com's Kate Rogers, Fox Business host Charles Payne and me to see if any of us can tell which quotes are real, and which were made up by my staff.
MY TAKE: I used to report on lots of scares. CBS even ran an ad for me where someone called me a "guardian angel."
That's bunk. The only guardian angel is a free and open society. That's what allows innovation, gives people longer lives, and lifts billions out of poverty. But these gradual improvements aren't newsworthy. Scares and disaster make the news.
News is broken not just because we're biased but because most good and important news happens slowly.
9PM ET on Fox Business Network