system to leave individuals free to pursue happiness and the only system that recognizes individual rights to as life, liberty and pursuit of happiness. >> host: what about a moral there is no economic component? >> that is not true. is fall of morality. it is a political system. fell whole issue of how you raise revenue for the government and the distribution of wealth it is political. what to capitalism is takes

coercion out of our lives if there is a government but the sole responsibility is to protect us from people who use coercion against us. protect our rights. nothing else that leaves the rest of us free to pursue values that will lead to our happiness that we believe are good for us. the only system that leaves us free to pursue our values. >> does that make government more allow as well? >> it depends. out is instituted in america at its founding was the first and maybe morrow government never with a moral purpose to protect the

rights of individuals has become the greatest violator it has lost its claim on morality. government is moral when it protects rates but if morrow when it violates rights to seven subtitle out by a man's ideas can end big government. whether those ideas? >>guest: first the idea of morality and the foundational idea is who does your life belong to? those conventional views have stated your moral purpose in life is to be your brother's keeper.

psat -- so sacrifices the most noble thing. she rejects the notion and says that is the origin of state is some it is the ada you are your brothers keeper the etfs the moral responsibility is to serve others in this state in checks that that is to yourself to make the best rhythm most of your life to achieve self-esteem earning values that they deserve and that rational pursuit is what representative -- morality is about those don't want

paternalistic government but they can our cannot teach what they can sayre not say they want to be left alone. those who want free markets need to advocate towards the morality of self-interest that is that the core of the whole argument between free markets of a morality of self-interest horse all sacrifice. then the question is what kind of a government? ultimately will like to see was that the founding of the country that does not regulate business that does

one thing own way and protect us from crooks, of fried and arbitrates the dispute to but leaves us alone to pursue our happiness does not interbreed into the marketplace. how retake entitlements? the advocate not for the privatization but leave it to individuals not how to make medicaid more efficient there's a further had you privatize insurance markets? we talk about to where

regulatory state goes away. >>host: end you right to the free markair revolution with the argument amounts to is in order to protect ourselves the are richer power businessmen we have to give our betray power to politicians that is not the power to force others to bend to their will but through voluntary trade government forces interjected is not the necessity of human life. >> absolutely between political power and economic power political power is about four scum of a gun forcing you to do something if you want to pay taxes there is a jail cell. if you work for microsoft in

want to leave nobody can force you. there are alternative products were used paper. nothing they can do to coerce you into using their products. is not the power of coercion. they want to extract the power of coercion and only 11 use force in retaliation against those who initiate force that is something business cannot do but when left alone everybody benefits to create safe and useful products and really is have the option to opt

out we can make traces and trade of what we think. >>host: what about excess of the regulation leads to the financial collapse? >> i cannot find it. maybe they talk about glass-steagall but no glass-steagall day look at washington mutual or countrywide they were pure commercial s&l and look terrible street you have of lehman brothers. the only bank i can think of

it is citibank it has failed four times in the last four decades in this bailed out every time. this was the creek -- crisis created from government from beginning to end i think most will agree with the position it is the subsidy should of home mortgages. i have a larger mortgage. people who rent subsidize a mortgage icahn deduct my interest payments. wide is the government incentivize me to take on deck? ahold policy structure the federal home loan bank there are multiple government

entities that encourage us to buy homes and we cannot afford with the debt we cannot pay back the batteries serve helped interest-rate stay below the rate of inflation what happens then you tell people get that because it is cheaper the value loses faster than interest payments to us would american people did? they took on debt to the that is a government led crisis did some bankers misbehave? absolutely. wall street? yes. think of the incentives. if you make money u.k. keep

it. if you lose money you are bailed out. it is coulter big to fail. it has created incentives it has subsidized the behavior it is a crisis that could have never happened in a truly free market. >>host: alert ayn rand cedis is being implemented, used and successful? >> in our individual lives living to the extent that we can but hundreds of thousands would say their lives are changed. the way they pursue happiness is different. think about everything in the world around them. businesses that are run

based on her principles you can look at mission statements certain businesses are run based on the principles because society has not accepted the idea is certainly with politics and the political parties have not it is still a long uphill battle they're taught in many more schools today then schools before but this is a growing movement with no zero influence of the scale it is still a few decades ahead of us. >>host: is the tea party sympathetic to ayn rand? >>guest: i think.

i think many were motivated if they know it to see you're not. "atlas shrugged" gain tomorrow confidence to say enough is enough. the burden of government is too great. did not quite yet have a positive agenda hopefully people like me and the role is to help articulate and that agenda the book is written for the tea party audience but they get their confidence in their backbone from ayn rand. who is john called or owlish drug the been she was right.

>> library of congress has a new exhibit and "atlas shrugged" this off included there are 88 books what do you think about that? >> i am not surprised that has influence on many people and was kept capitalism as a somewhat positive word i think the only author to give a positive moral sense that is the power of the popularity that it comes from that issue of she kept the jd is a free-market so slowly a free market move may can build in the tea party is can take the lead to support the future. she deserves to be on that

list. in 2010 at list shrugged sold half a million copies. since the election of barack obama has sold 1.5 million copies. no other book has done close to that. it is the loss of her at a shrug deserve to be on that list. >>host: do you get the proceeds, the institute? >> no. it is in her estate along times didn't inherited the entire state -- to stay in the proceeds go to him. he supports the institute that the proceeds to not come directly. we have a fellow at the ayn rand institute for the last seven years and

significantly younger than me and the future of the item in institute and has done a phenomenal job of the book. >>host: your background? >> born and raised in israel i read that the shrugged at 60 now was a committed socialist and collectivist and she literally changed my life. nawaz challenged on every page and she one. i had early military three years of my undergraduate degree of engineering but after reading at one shrugged, i wanted to come to america. it is an anthem to the united states of america. i came as a student to get my in the a hat texas and got a ph.d. in finance and

was of finance professor in the bay area then in 2000 took over running the ayn rand is a two. >>host: what is your enthusiasm level for the mitt romney presidential race? >> it is not high the primarily eight motivated by a dislike for the current administration it is almost anybody i think mitt romney is not a very articulate defender of capitalism or the free-market cannot even articulate the case for private equity. i think he is a week candidate and the idea is awhile to inherit they should hear to. of republic pence could have done better.

he is the alternative. i will probably vote for him. >>host: talking to euro on broke -- yaron brook. his book is called free market revolution. >> we are at freedomfest in los angeles we want to introduce you to the book whether day liberty of gospel approach and conner is the author. what is the premise? >> not something use the with harry reid dormant romney or prominent mormons my argument is the

scriptures and the teachings support a more libertarian framework especially they think libertarians are marijuana smoking atheist sori dispel what liberty is if libertarian as some and provide resources why to show the war meant faith supports that point* of view. >>host: where did mortgage come from? >> profit it is of book of a the seven scriptures apart from the bible. more men was a profit to combined the profit we call ourselves a latter-day saints good collectively known as mormons. >>host: they are overwhelmingly re