Friday, August 6, 2010

Private Enterprise Does It Better

by John Stossel

August 5, 2010

In Myths, Lies and Downright Stupidity, I bet my readers $1,000 that they couldn't name one thing that government does better than the private sector.

I am yet to pay.

Free enterprise does everything better.

Why? Because if private companies don't do things efficiently, they lose money and die. Unlike government, they cannot compel payment through the power to tax.

Even when a private company operates a public facility under contract to government, it must perform. If it doesn't, it will be "fired"—its contract won't be renewed. Government is never fired.