that makes everyone better off including the poor. take your time before jumping to any conclusion, think about the choice scare -- carefully. it's not a logic test. it's designed to unpack our intuition on the subject of rich and poor. what are our intuition? >> i think we have a lot of intuition about rich and poor that come from the caveman instinct. we tend to see somebody with more and maybe want it. we feel indignation when we see someone with less. i think they have to be overcome with the idea of, look with this is a virtuous system. if we torp walk to a rain forest and think about how resources are distributed in a rain forest, we would look around at canopy and the great mahogany tree and say they gobble up the resource. in many people's mind is rather

a virtuous ego system. it's not a place of equal distribution of resources. the termite on the ground or the animals in the treat have a different share of the resource than the great mo tree in the ab canopy. ecosystems are not equal. and people create the contribute varying disagree of value for varying degree of contribution to that value ecosystem. that's as natural as the rain forest, in my view. >> who are the makers and the takers you talk about.

the takers are those who don't create value but call themselves business people or entrepreneurs use the level of power to divert resource. i think it's a terribly devastating state of affair in our country. we're at the conference right now dpe voted to the theme are we roam? we know they basically it tax the people. we know there were favorite crony in the state in ancient rome. we want to see -- i want to see as libertarian someone i believe understands value ecosystem that our economies we dis entangle those creating upward transfer from poor people to owners of sports

team. it's unconsciousble. it's not entrepreneurship. it's basically gaming the system and getting money. and whole food, say, the entrepreneurs the people who start company are participating in the value ecosystem. they're the makers. >> you say walmart has probably done to reduce poverty than any organization in the world. >> i believe that, yes. >> how so? >> if you consider the -- let take a lot of facet of the business over the last forty

years or so. they a tremendous reach not only across the united they offer goods and service if low prices to people who we might call the least well off in society. i admit i'm a walmart and targetter shopper. if you consider the extent of the organization and the prices they are able to make goods and service available to the people. millions of chinese people in one country alone who have been lifted out of poverty merely bier have chew of the existence of walmart alone because they

manufacturers to china in which to the benefit. they are incredible job. there's a debate going on whether the wage they offer are good enough for arbitrary standards by politician or it's pervel to nothing. if you are a politician something you night like. but walmart despite some of their objection on net has created tremendous bit for the leath advantaged in society. i think that's undenial.

would we rather be in the places than we would places with reduced -- such as venezuela or north korea. i would submit to you we would not. i would rather live in song poor, hong kong, out united states while there's great inequality because of the ecosystem of value because i put earlier naturally exint aspect of inequality that we would prefer to be in those waitier places. and the upward mobility afford

creately outspace those of the more equal society. >> finally i want to read again from super wealth. financial regulation is complicated. and there are vigorous debates about what sort are good for preserving the system as a whole. we there's a whole class of regulations that is no good to anyone. what are some of those regulations? and what are some regulation you think might be good? >> i think primarily. specifically in the financial sector. one of the financial sector is extremely complex. but the thing that happen to the regulation that are no good for anyone are the ones that tend to

increase the power of the entrenched interest. so when you introdisuse a complicated regulation, on any industry but particularly the financial industry, the main player in the industry tend to love it. it raises barriers to entry to competitors. and you essentially get a power sharing range of a cartel based on the regulations. so put in simple terms if i'm a little guy i can't afford the army of lawyers to navigate this stuff. that's one aspect. now of course it's some of these regulations are proportedly designed for there not to be disasters. what they end up doing is shoring up the major players raising the cost for the rest of us and making it so competitive forces can't unentrenched -- they end up with colluding with the people they are supposed to be regulating them and create a system where by wealth was transferred from poor to rich.

the bailout a great example in the regulation that happened the financial industry in the wake of the financial crisis of 2007-2008 ended up creating as much moral hazard as that -- the idea we're too big to fail it entrenched and built us up around the financial industry to the point that too big to fail was permanent, but so were the entrench the interests. that is not -- that is a sporic system that end up not benefiting the least well on and off society. but ends up enriching the much aligned 1%. that's not to say the financial institutions are all bad. they offer capital for market and things good for building vat-added ecosystem. they end up captured bit special

interest and regulation work again the goal the social goal that we probably all share. >> on the other side. what is a good one? >> good -- it's really tough for me to talk about a good relation. mo regulations end up having negative unintended consequences. perverse effect of some kind. regulation of the financial industry i think certain disagree of transparency with respect to trading practices and so on are probably good regulations, but most of them i toss out the window. >> max borders, senator rand paul has blurped your book it's on the front. he has written the an of occupy and politics and class warfare. ly need at least 100 copy of the book. one for each of my colleague in the senate.

what to you think of the occupy movement? >> believe it or not, i am not -- the occupy movement, to me, is a mixed movement. i think they have some very good thing. i think there's a reflectsive fetishism with unequality that muddied the message. when they point to financial stewings that are colluding with people who have power, and saying there's something wrong there they have a point. it's amazing how much overlap there is between what the tea party had to say on the one hand, what the occupy movement had to say on the other. it's in the overlap, i believe, that real good reforms can happen. we, you know, people like me and people in occupy wall street both object to the kind of cronyism that runs rampant in washington and now by default in new york, and that cronyism, that collusion between people

with the power and the people through the money -- my belief is that the society will dis entangle. >> we have been talking on c-span with max borders author of "super wealth ." booktv is on location in freedom fest in las vegas. the there a non-fiction author or book you would like to see featured on booktv? send us an e-mail. or tweet us at twitter.com/booktv. for your interest in a great story about a remarkable president. i was really happy to be able to write this book, because ronald reagan is perhaps one of our benchmarking presidents ever. we wanted to make sure that children like you understood more about what made him so special.

because one of you one day could be president of our country. and we want to make sure we have strong leaders who up how important it is to have ideas, and how important it is to communicate. ronald reagan was known as the "great communicator "you are off on a great start, tommy. we want to make sure you understand what happened during his time of president. hi, please join us. hi, honey. this summer about few weeks ago the book was first published. you guys are really some of the first young people to be able to read "the remarkable ronald reagan." he was a family friend of ours. when my facial -- father-in-law, my husband's father. ronald reagan was governor and came to the football practice. he became a family friend. there was a history with our family. one of the reason i want to tell the story. i think young people need to

know about the remarkable ronald rage. i would like to ask you to think about what you want to be when you grow up. most people don't know ronald reagan was probably like you. he came from a small town in illinois. he had a lot of big dreams about what he wanted to do. maybe play baseball. maybe be an actor. go all sorts of things. he had big dreams. i bet you guys think about what you want to do someday in your life. ronald reagan worked really, really, really hard. he lived during a time where people didn't have at love money. it was during the depression. his mother would invite friend to the home and give them a meal and ask them to stay. a lot of people lost their home or didn't have enough money to buy food. mrs. reaganing with his mother, had a big influence she took him to church every sunday and made sure he learned to be kind to other people in his community. so we talk about that in this

book. if you see these illustrations, you might -- read highlights magazine the artist works for highlight magazine. you might recognize the type of artwork. he became life guard too. he saved 77 people by pulling them from the rock river. you know how we know this? he a stick where he would mark 77 or left 77 marks for each person he pulled out of the river. he went off to be an actor in hollywood. he was nervous but he went and tried to be an actor and made 35 film. he also was a radio announcer. he would times do baseball game, where he was not even sitting there. he would get the information over the wire and describe it so beautifully it sounded like he was there. and one of his other dreams was someday be the cowboy. he played one in movie.

eventually he bought a ranch so he could be like a cowboy when he wanted. when world war ii happened. he decided he wanted to help his country. he had poor eye sight. he couldn't go to war. they used his talent to make film for the troop so he could help train the troops. eventually ronald reagan ran for governor of california. they served eight years as the governor of california. he worked hard to have jobs and lower taxes so the quality of life would be good. but right when he was done with that, he decided it was a time to buy a ranch. he bought his ranch where he had a horse that he could ride every day if he wanted. he would go out and chop trees and take care of the field and fence. it was important ronald reagan. he liked having that time to think about what he needed to

do. people asked them to run for president. so he did. he ran twice. he ran first in 1976 and lost. you know it's sometimes hard when you lose to decide you want to run again and try something else again. he did and won in 1980 and went on to be president of the united. the 40th president. [applause] he became friend with mikhail gorbachev. he was the leader russia. he made speech to tear down the wall. -a wall that separated free from those who were not free. that is important when you are a leader. you can disagree on the issue or idea. it's to recognize that people are the humans trying to dot best usually as most of these leaders were.

he spent the final days going to the ranch and he and his wife spent as much time as they could. he died in 2004 from alzheimer's. that's a disease that some of you might know about. a disease that many people have family members who have suffered from alzheimer's. it's very sad, slow debilitating disease. the country said goodbye to ronald reagan in 2004. he was a remarkable man. his legacy lives on. our hope you will read about him. we have highlight from his time of president and thing he did that were special to help human around the world. you can meet people today that say it was one of the people that make them free when he told the communist to tear down the wall. a good reader is often good writer. he would tell you to read as

much as you can but use your skill writing. we have a letter he used to write to boys and girl. can you imagine getting a letter from the president? just you! he also gave a lot of funny quote or interesting quote in the lifetime. hef called "the great communicator "you can read them in the back of the book. there's nothing better for the inside of a man than the outside of a horse. that means if you're working really hard, sometime you get sore from riding a horse. you have probably spent time out thinking about what you want to do with your life or what you need do. that's important too. ronald reagan was a remarkable man. i have enjoyed share his story with you. there's more to the story. i didn't flip through every page. i encourage you to find out what made ronald reagan remarkable. i hope you have a remarkable life and live out your dreams. thank you for coming today. it's a pleasure.

[applause] thank you. do you guys have any questions? no, i hope you are reading this summer; right? find your favorite book to read. great. okay.