Stossel's dishonesty

John Stossel is trying to scam you.

Stossel is a free-market libertarian who believes that the vast majority of government regulation is harmful to the public. Thus he makes specious arguments like these in his book, Give Me A Break:

Some years ago, the FDA held a news conference and proudly announced, "This new heart drug we're approving will save fourteen thousand American lives a year!" No one stood up at the press conference to ask, "Excuse me, doesn't this mean you killed fourteen thousand people last year -- by delaying its approval?" No one asked that because reporters don't think that way, but that's what the FDA's announcement meant. If the drug saves 14,000 lives a year, then 14,000 people died each year while the drug awaited approval. Thousands will die this year while cancer therapies and fat substitutes wait for approval. Some of us may want to wait. Many of us wait to be absolutely certain a drug is safe before we take it. Why isn't the choice left to us? In a "free" country, why do we meekly allow the FDA to act as a police agency that can tell us, "You may not"? Why does it get to use force? (p.44-45, all emphasis his)

Keep that in mind for a second. Now, in Stossel's idea of a perfect world, there wouldn't be any government regulation keeping our American economy back. Unfortunately, without government regulation, it would be a lot easier for businesses to cheat the average Joe. Theoretically, bad people could be deterred by the threat of litigation. Does Stossel agree?

We need lawyers. We need them to preserve the rule of law. We need them to defend us if others cheat us, steal from us, trample on our rights. (p. 155, emphasis his)

As a believer in free markets, I should like lawsuits, since they promise a free-market solution. (p. 157)

Wait, did I transcribe that correctly? I'd better check that again....

Lawsuits are necessary, but evil. (p. 155, emphasis his)

Lawsuits make America less safe. (p. 159)

Ah, the true Stossel reveals himself! Stossel doesn't like regulations or lawsuits. Mr. Average Joe is encouraged to let Adam Smith's invisible hand give him a spanking. (Joe is free to enjoy it if he wishes. After all, this is America.)

Can you clarify that last point, John?

Clearly, lawsuits have a deterrent effect that seems to make life safer. But tort lawyers attack the very people we need most in order to be safe: innovators, companies that make safety devices, hospitals, drugmakers, paramedics, those who stand on the front line between life and death. The lawsuits threaten the people who make us safer. (p. 159, italics his, boldface mine)

And here the contradiction of the first quoted passage reveals itself. Regulating drugmakers is bad, but suing them is even worse. Better just take the pill and hope it doesn't kill you before your disease does.

...Oh, and I'm sure this attack on a trial lawyer was solely because of his record, and not because he's a vice-presidential candidate.