crowd -- >> there we go. perfect. already thank you. >> so you can head over there, hand your book signed we have books here for sale thank you all for coming out tonight, i appreciate it. .

>> act because of motivations in life profit isn't just money profit is -- maybe feeling good, profit is maybe giving back to your community may be profit more time with your family but the fact is that when people make decision whether they make an action, they are driven by profit, and so in general, we all know that businesses are driven by profit that is just a general fact that we all understand. but in the book i take it that step down further and show managers are driven by profit that is often different than what companies motivationinng i are companies also driven by profit as we take down the profit motive i move into sectors, i look at government

28-year-old bureaucrat at a desk might not always have best intentions on his mind sitting at that desk sometimes he wants to get off work go with friends maybe he wants go on a date maybe he wants to move up in bureaucracy himself the guy at the desk in government has motivations, those don't often go exactly with the program he is working for. there is work in media, applies to family life, and even nonprofit, a really interesting theory when you expand on it. >> when you talk about noneconomic profit motive how do you derive benefits. >> profit is kind of a weird term anyway, if you look at web cities are dictionary version i feel a pictured thing not good to go back to web cities are dikae are dictionary profit is something of a benefit to somebody, and so

i read a lot of -- i have red a lot, but one of her things is selfishness or greed it is good, i looked in i think that a lot of her ideas are right but i don't think they caught on because people don't like to consider themselves greedy, if you look at other people, show that being a being in their self-interest you can look what the other people want as benefit i don't know the question how you derive it, i think benefit or profit, are just kind of intrinsicic in our life i don't think you get to deriving the benefit but it is whatever the person did he fines themselves as good, whatever the person or the business or organization definest as best a lot of companies i look at goal i don't agree with that being a profit i don't think it makes any sense but that is not for me to define what their profit is. they think that is a profit, and their either going to live by

that or die by that if i understand that is what they are going after i can help them get there there that is going to help me in the snoourt 330 million or so americans driven by their profit motive you've got millions of businesses doing the same thing how does that work? it is amazing. it is the invisible hand the fact is that -- my profit motive personally i am driven by family i have the opportunity that i spend i get to walk with my daughter to school in the morning driven a little bit by money so that i can afford the lifestyle in which to do that. and it works because if i am bad to people if i am not doing the right things to people, then i am not going to be able to pursue that lifestyle not going to be able to profit, individual scale if you increase that, and go if you move up a notch go

into businesses if businesses are making customers mad employees mad they are not going to stay around long either so it works because everybody is working for a profit, and only way to do that kind of work together, you i have to try to make you profit more if i help you profit more than maybe you are going to keep me on longer. >> charles you opened your book profit motive what drives the things we do with a thought experiment, what is that? you know i think that it is nice to open people up and to get them thinking from the beginning, the way i starting to book was it is if an employee is working at a company, and they are designing a building that company also makes as if eners, metric fasteners, what are they are doing to dine metric

fastners if they don't want to get fired design a building that uses the metric in a their company make we see hospitals, that if you are a doctor don't refer into your own hospital system you are lyle going to get less patients or moved out or you are going to get a bad -- a a bed referral, the fact is is that profit motives drive what we do highlight i think gets people thinking from beginning hopefully understand almost right away what the basic idea of profit motive is. >> your closing thought experiment, could go one of two ways. >> i think the closing experiment can actually go almost three ways, so the closing thought experiment is who profits more? the person who writes the book or the person who reads the book

not mentioned in there is a question of whether you understand profit motive enough. there is also the person who publishes the book there is also bookstores that sell the books, so maybe there's four ways maybe i missed one talking about it, i do profit from writing the book i profit from the book in several ways. but people that read the book are also profiting from the book, and, you know, hopefully their profiting at least as much as the price i think that they are going to profit a lot more but, also, involved is publisher, i decided the write based on leveraging profit motive of my publisher so writing a book is time thing you are going to spend a lot of hours again i have three daughters i love i like spending time with them like playing with them doing things with them i have a wife that i get along with you know she is my teammate, to write a book i had to take time away from them and

take time away from my life take time away from my business, and in order to do that i made sure that a publisher picked up my book before i devoted time to writing it if a publisher said this book is valuable we're going to invest in it so that is why i decided that it was good to invest the rest of my time, writing the book and finishing it off. >> now your clearly president of the market institute. what is that. >> market institute 501c 4 nonprofit, i represent think tanks kind of premarket on capitol hill part of that i focus on health care intellectual property. intellectual property goes both issues go with this book perfectly but intellectual property patents is what gives the inventor brost right or monopoly that gives the inventor the incentive the property motive to take an idea take it

to marketplace consumerize their invention kind of fun that what i do is what i wrote about. >> when you work on senate finance committee staff what was the profit motive there? >> there is a lot of -- i think when you are early in your career, there is interesting profit motive involved, and, you know, irlooked at i had a friend that i grau up with my best friend he was in accountant for one of the large firms while i was sitting at my desk in the senate i kept wondering, why is he working for the -- the accounting firm he needs to start his own business who both him amend i are while i was sitting at than he desk i wasn't realizing i was doing the same thing what we are doing was building résumes our networks our knowledge base, the fact is

that most of the people that i work with today are still the people that i met then, not on that desk, but when i was working for governor jeb bush, i worked with the person who is now chief of staff, for the majority leader cornyn, majority whip cornyn, sorry in the senate interesting to see what that profit motive is at the time it was a paycheck trying to mover up and learn that network to get me where i warranted to start my own business are marketing. >> in your view does the government take into consideration our personal profit motive when they make policy? >> i think that sometimes they do, and sometimes they don't. one of the groups i work with us goodman institute john goodman father of he health savings account health savings account is one of the only times that i

have seen a government policy that does leverage the benefit of the people, so it puts the patients back in the driver's set a making them client when they go to a doctor if hsa is a health care device, that it is a savings account that you put your own money in, it is tax preferred then use that money in conjunction with high deductible health plan, so what you are given now incentive to shop. and the doctors are given the incentive to treat you like the client. so when you go into a doctor's office normally yes, you are a patient yes, you might be sick but fact is you are not paying the doctor you might be paying 10% what have the doctor gets paid. but the real payers are the insurance companies hospitals or government so hsa puts that back in place i think 99% of the time government doesn't understand profit motive of the people politically we don't understand

the profit i move of the bureaucrats that are complementing it i think that is one of the maybe bigger issues. >> from your book if you could expand on this. >> elon musk is one of the capitalists knows in a war and told the company prepared to fight each and every crony battle to give his business every advantage possible. >> elon is interesting character i worked with inventers, right elon is that weird two inventors well-known everybody knows edison and tesla. people like to think of elon musk as tesla, this kind of wild haired inventor going out doing crazy things. the fact is he is edited, i think most people hold edison higher personally i am a tesla fan, but others built a business bought other people's patents

inventive himself but he was ruthless in growing that business in fact he passed tesla for many years, on acdc, elon musk does much the same, he is innovative running a business if a launchpad in arizona, or build a teslas, in nevada where we are right now, the fact is that he is going to shop he is going to push them he pushes them for tax rebates pushes them for everything he can because that is the bottom line. does that innovative does that sound creative type he is i don't think that it does but i think it is interesting to look at somebody that i hold in high regard, look at the profit motive how they're running their business how that translates he is not you know just inventing for america's greatness he is ini ventiinventing for limbs.

>> the zhan -- amazon hk2 search. >> to scrabbmble for it opt-outo get on the search, companies are giving out tax breaks they are giving out you know areas of land, they are promising to build out there you are from your, and so we're seeing we're seeing the profit motive there, what is interesting is that if you dig down deeper as economists all those tax breaks are bad, all of those promises are bad and so i would say that a lot of those are bad profit he motives they aren't actually looking at what they are doing. they are just -- going after it as hard as they can, so i think that, you know, if you understand, and if you look at

the view at world with profit motive lens you can see it and point it out, but then you can also look at it and see if their profit motivae is correct if going things correctly the trade war would be one of these i personally think that president trump comes from the right place the cart he sees we are not treated fairly in trade trying do something about it it is a profit motive trying to make america great again. but if we look at the economics behind what a trade war causes if we look at what that does to us, then i would say the policies that are that he is pursuing while profit-driven are not going to bring us the what his end result that he is looking for. we should promote small innovators. >> there is a difference speak of amazon trade policies there is a difference between

long-term goals and short term profit move. >> there is an interesting -- there -- i don't see a difference between i don't think an economist would see a difference necessarily between the short term profit motive and long term profit motive if short term profit motive doesn't serve long one it is not doing what it is into eached to do even in short term. there is a fight on this, about ceos trying to get quarterly returns for investors i think it is open for debate. built i think, this is one of those things if you look it is a company working in self-interest of their company it is that long run profit motive they a need to be driving for one of the reasons i do support capitalism fully. >> in your book you ask should we all be scared the media is going to brainwash us all into supporting a certain group, just

to make more money? >> we should we should not be worried about that we should all by profit motive. >> no media is not going to brainwash us into supporting them because media an example supporting what? >> well, so i am a libertarian, that means that i am right leaning so i am often in republican circles in conservative rooms, and there's always the leftist media coming to get the leftist media is going to sell selling a story, that is not true and they are against that but the fact is is that -- you know, the countries maybe 50-50, it is not too far off on liberal conservative so if you look at profit motive of media companies they want to

deliver media the right way deliver news in the way that it is happening because if they continue not to deliver news the way it is happening, an organization continues to deliver tafake news going to lo market share advertiser revenue watchers listeners i think one of the reasons fox has taken off they lean in the direction but always lean that direction fairly easy to know each story what you are hearing you can edit it back to the middle without needing much work, no the media is not going to brainwash us. i wanted to pose in it there, i do a lot of media, i do a lot of media with the far left. and, you know, they have me on because they are their list eners find it interesting to hear both sides. >> endorsements -- profit a must

read for someone on political right and lest on the left we need to understand how a radical like charles views the world on the right, well, you doovn what you want. >> so tom sent me that endorsement, and i have done a lot of things with tom including, one saturday i was sitting at home if you don't know tom hartman he has number nine radio show, he is a top-ranked liberal radio show. he is an amazing guy but you know slightly left of bernie sanders. so he is pretty far down at the other than on the left called me up on saturday e-mailed me said i have an idea for next week's show do you want to switch sides? and -- you know -- and so you know we got on radio, and we flipped sides we argued each other's points of view, so he showed the respect there and

when you read that it is -- it is actually makes me happy because he says you need to read it if you are we need if you are on the left you need to know how a rad equally like charles thinks when somebody far left as tom calls you a radical it is actually team are of endearment interesting how it will reads really what he meant. >> greed is good true or false. >> i think that greed is true. greed is everywhere. so i answered your question in a way that might not have expected on that, but i think, i think greed is everywhere greed is just on omnipresent i don't know if greed is good necessarily we have several instances where greed could be amazon h-2q agreed of trying to get that might be a detriment of a safe

question is it good greed is omni present i think somebody about serving their church is being greedy but for their church might not be looking for growth themselves but they are looking for growth of their church, and so i think that these are i think profit is a word that most people think money right away, i think greed is a word that people think selfishness but if we look at words a little bit differently just see greed for your church or profit as a benefit, that with you define it a little differently. >> is there anything in our lives or world that should not be driven by the profit motive? >> i don't know, in the book i talk about my relationship with my wife, and, you know, i -- i think that if i was to go some place if you were to ask me that

question, and i wasn't thinking whatever i might say yeah you're family life or your friendship but honestly if you look at your friendships you look at good friendships or good marriages they are give and take in those relationships. and so you kind of go back-and-forth fp if.

so i do think that it's around our everyday lives. i don't think there is an area of our lives where it doesn't truly rest. you might be able to look at your relationship with your kids, that you get a hug from them and that's all it takes so i take that as a motive. >> profit motive, what drives the things we do. up next on booktv "after words" comedian and actor