John Stossel, host of ABC program 20/20 for those who only watch Fox News, gave the commencement address this weekend at Thomas Jefferson Independent Day School in Joplin. Stossel told the seniors the free markets are a good thing. He gave a bit of an education to a The Joplin Globe reporter, also.
But economic freedom and a market economy make such products [as the reporter’s pen] possible and accessible to everyone, Stossel said. Americans tend to take such accomplishments for granted and fail to see how market capitalism “has lifted more people out of the mud and misery of poverty than anything,” he said.
Unfortunately, Stossel said, as this year’s high-school seniors enter the university system, they will be subjected to “a vilification” of market capitalism that equates economic opportunity and enterprise with greed.