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Under the First Amendment of the United States Constitution, freedom of speech is liberally granted. Only four exceptions have been recognized.
The example given of shouting "Fire!" in a crowded theatre is an example of responsibility in free speech.
In the hypothetical example, a man starts a panic by running into a crowded theatre and shouting "Fire! Fire!". (There is not in fact a fire in this instance. If it was real, this would be excusable.) The patrons, too distracted by the play to stop and notice that the theatre is not burning, rush wildly for the exits to escape. Some people will probably end up trampled to death as a result of this.
Since people's right to live is considered more important than the right to obnoxious practical jokes, anyone who performs a stunt like this will be arrested and held responsible for any tramplings that occur.
Shouting "Fire!" falsely in an sparsely populated area is more protected, but will still irritate the local population.