revival and what has to be done in order to do so? >> guest: well, i hope the wink and nod stays out if he gets elected, and i think -- i hope he gets reelect baud i think the alternatives are even worse. i want to put that out there. and so...

>> i enjoy a talking with

you about the book. >> thank you for having me.

>> you are watching booktv the we are and las vegas nevada four freedomfest and annual event organized by this author, a mark skousen. how did freedomfest come about? >> of renaissance gathering economics, philosophy, scien ce and technology, religion from a healthy living we have of wide group he been investment conference, concerned citizens but the focus is political, economic and financial freedom. this growing. we have 2000 this year next

year we're moving to caesars palace. it should be a good topic. >> are you a libertarian? >> i always tell them treat everyone as individual. we don't like political labels. whimper terry and maybe the closest to identify me. freedomfest is not collect -- connected to any political party. we are for profit but we invite nonprofit think tanks we don't compete with them

at all. and to bring the intellectual feast two las vegas. >>host: what is your background? >> i am an active mormon on a mission for the mormon church and worked for the cia. then broke out to into the financial world. married, children, saved enough money to move to london where we bought a flat to and have been to 71 countries. primary source of income is my investment newsletter i

have been writing since the 1880. i teach economics in business -- business and now mercy college. i should mention we have the film festival. we really enjoy it. >> what did you do for the cia? >> i was an economist with commodities but the cia was due bureaucratic. i was involved with the financial revolution part of the inflation survivable other that is much more

establishment name we started with ronald reagan and it has been a great ride. i consider myself a survivor but i maintain my contacts. they are a good source and the cia does everything. research on everything. >> we invite did you to talk about "the making of modern economics" the lives and ideas of the great thinkers." but this is the second edition? >> 2001. came out the first one but it took me five years to write with a lifetime of learning and the second addition came out in 2009 we

felt it needed to be updated. my final chapter is "mr. smith goes to washington." that was a little premature but we had to revise the final chapter. >>host: how was it organized? >> we had to create an alternative to the philosophers. it is a story of a great economic thinkers covering it his favorite economist was cannes that was pro government. my perspective i wanted a

more balanced approach i wanted to highlight the free-market thinkers. the founder of modern economics i figured by making him the sentral character i could tell a story. it has a plot how adam smith was treated overtime. and how their resurrected and improved upon by the other's goals of e of economics.

we have done something unique and why the textbook is popular, i make it a real story that triumphs in the end. that is the model that i see as an ideal. >>host: who was ludwig von b.s.? >>guest: the premier economist of the 21st century he was jewish and left during world war ii and came to america he was never as popular as milton friedman but popular in my book with the austrian school is close associates

when the nobel prize so he is an important character. >>host: what is the austrian school? >> when of two major schools of economics one was developed in the '60s this is the more hard core that advocates the gold standard and is very suspicious of intervention might central banks because they say the manipulation of interest rates by the fed can no may have disastrous effects. with of gloom that is unsustainable. it does not surprise austrian economics -- economist the

real-estate boom could not last. >>host: you also highlighted another member. >> have a chapter called march madness. you know, why you soho but each chapter five try to have clever titles. it is milton's paradise for milton friedman. also a marxist economist at harvard one defended having pallbearer then the he was kicked out from his monthly review publication in to defend socialism and marxism. is slight gain marilyn

monroe to pose for the first issue of playboy. it is from the academic point to view both schools are very pessimistic about their future. with the "twilight" of capitalism. that it is about to collapse at any time. with economic boom, i am more optimistic i have a major chapter on milton friedman is an optimist and

so am i.. >> is there a contemporary figure in the world today? >> that is the good question. peter schiff puts himself well. -- out. he is financial not academic. from the chicago school would be gary becker. he must me 80 years. young people, it may be those from george mason in university which is a hotbed of public choice economics. but no one of that stature

writing columns for "the new york times." thomas and so wall but he is in his 80s. my book is one of the more popular text books. maybe i am a little bit of the role but friedman said he stood on the shoulders of giants as the six newton said and i feel the same way for all of the economist who come before me to seven mark skousen where are you teaching? >> at mercy college and also of the penitentiary and was teaching at colombia teaching at

maximum-smaximum-s ecurity prison they have the incredible thirst for knowledge. it is unbelievable these men who have committed crimes in their youth tried to turn their lives around. i have students who read the entire book before coming to class. my wife teaches literature. of four year college degree program all privately funded nobel grants or federal or state money. my son tim native bill o% that will be on nationwide

tv that describes the sing sing education program. >>host: what is that experience like? >> this emotionally a thrilling and rewarding experience for my wife and i. to teach these people who have committed heinous crimes, murder, see the error of their ways. the education unprocessed and the ministry program. they bring in of major name for the graduation ceremony like warren buffett because his sister is a major supporter. it is incredible. there is no separation of

church and state. they hold the bible or the q'uaran or the talmud it is ecumenical always those representing the graduates get the associates zero or bachelor's degree. we'll valedictorian says i started off with family have been great hopes for me but i was in the wrong crowd but then i killed a man. even though they're in there for murder it is a shock. but then he describes the program transformed his life how they feel they are new

citizens what is getting the notoriety is 60 of the students have left sing sing. not a single one has returned. national they've the recidivism rate is 60%. it is a great positive story how bad the criminal-justice system is. added is solved privately funded and. >> do stay in touch with the students? >> yes. they do in a new meeting with the donors and the inmates. we can communicate to see what they're doing. in a