fire analogy. they are awful. it's not good for your house can burn down the menu can be killed so there is a tendency to think we won't have any. other stuff builds up and when it eventually becomes a fire that you can't put out and it's so much worse than having other little fighters. we tried to find -- we publicly say we try to keep it way from being any crisis or the stress and as a result it worked really well and then we have the yellowstone fire which is an unbearable high-cost situation and i think we should have a system that when it breaks we can cope with it. one that doesn't break can

happen but we have an idea that it's going to have been and it's a mistake. any other questions? yes. >> so, one of the things i take from the early part of the book is that federalism is not always functioning as a check and balance and presents data policies but sometimes it enables other types of data policies. my question is do you think that is unique to finance or as the country is debating the national government versus the state rights types ostatesrights typeh healthcare and everything else is that you need to finance or do you think that this is a, you know, more generalized issue? >> it's a great question. i think that it's not unique to finance but i think that it may be somewhat related to how complex the issues are in this particular area. it's interesting to me that one thing that we discovered is

monetary policy in terms of the 1960s and 70s in the volatility managed to have a better experience. i think in the trade policy you can also point to the superior outcomes in canada relative to the u.s.. so i am not sure. i do think that there are these general kind of issues that apply to other policy areas but i want to take them one at a time. >> i think that you frame the question for political scientists to address. i don't think that there is a consensus answer to that question because the questions have never been trained quite the way that you put it. it's about market preserving federalism.

there is a flipside and i think it has been underresearched. >> so, when my european friends and interlocutors say this global economy mess is the united states of america what is the short answer to that accusation? >> they have their own mess. [laughter] >> you wanted a short answer. >> short and true. >> this came out of a sort of boomerang thinking that everything is traceable to the u.s. crisis is obviously wrong and that the european problems

have been brewing on their own for quite some time. there is truth to the idea that the u.s. has done more than its share to destabilize the finances over the last couple of decades. >> it is always a pleasure. >> they are available for book signings out in the hall thank you for coming. help yourself to one and say hello to the authors. a timber town and you wouldn't know to look at it today. the timber qualities are almost completely removed but yes it was a timber town to begin with.

at the height of the timber industry if he were to drop in and say 1928, he would smell sawdust if you went to certain parts of town you would get sawdust on your clothes and you would hear periodic whistles from the gigantic supermodels on the bank of the river. it would have permeated everything. it would have been ten minutes off from the downtown core where the shops were but you would have seen the smoke from the smokestacks and you would have smelled and heard the whistles and known right away that you were in the timber town usa. next weekend booktv and american history tv look at the history and literary life of bend oregon on c-span2 and c-span three.

i have covered the media for a decade now and i've been fascinated by the intersection of the media and politics. i've covered "the new york times," "washington post," msnbc and i wanted to do a book about fox news because the network really revolutionized cable news and it was the most dominant network. the ratings were double. very early into the reporting of the book i realized the way to tell the story is through the life and career of roger because fox is a complete expression of the world view. the network is shaped in his image and without his talent i don't think that fox would be the success that it is so it really developed into a portrait

of fox news as the culmination of everything that he had worked towards both in politics and show business and television. >> you said fox news is a political operation that hires journalists. can you tell me what you mean by that? >> of course it goes back to roger ailes, he is a political person. he got his start in television but he really owes his career to his work and the republican political strategist and campaign advisor to republicans like mitch mcconnell, george h. w. bush, ronald reagan and richard nixon who he worked for, and he really thrived in the culture of political campaigns, secrecy of paramount, driving the competitiveness, all the things that we associate with is tied to his career background. and so when he came to 1996 and he started the network for rupert murdoch he brought all of that culture that the dna of the campaign and by writing about

how he structured it like a political campaign. there is a group of executives that some of the most senior teams that called themselves the g8 and that is a reference to the g. six that was a group of advisers that worked for george h. w. bush in 1988. so you see these little phrases and sayings that come from the culture of the political campaigns that have that occur at fox that more than that the way the network operates is on the structure of the political campaign. it starts in the meeting from everyone marches in lockstep and there is a sense of mission and purpose that flows from the top and you see all those attributes that come out of the political world.

i do recognize that islam is obeah exists. it explains the rational fear and therefore some of the negative attitude towards the community. i am against it it is a part of the xenophobia. it's nothing than xenophobia

versus one group or any other foreign phobia, but the islamist into the iranian lobby has hijacked that notion and made it into a weapon come anybody criticizing a policy issue that had nothing to do with religion but have to do with the five pillars had been accused of islam is obeah and this is close to what the socialists in germany would have accused anybody criticizing their policies and at the international level this has become dangerous.

is very talks at the history of authors write and argues that copyright law will likely need to be revisited in the future.

this event was part of the new orleans literary festival held annually in the city. it's about one hour and 20 minutes. >> good morning everyone. i have some powerpoint slides so hopefully we will have something visual to look at. if you don't give people some sort of reprieve, the audience starts hurting themselves. [laughter] i am a practitioner so i'm not a scholar, i am not a law professor and i think it makes me a good candidate for holding something called the workshop because i do things just like anybody for the person that tinkers in the workshop to buid things, we have to draw on the knowledge of