that has made it for half a century really great system. i think we need to preserve it. would you become a professor again? >> i cannot imagine doing anything else. there are moments that sometimes the best moment of the week, when my students and i struggle with questions we cannot answer. we spent a couple of hours doing that. the freedom to pursue the intellectual questions that matter to me most. that has been thrilling. i would not take a different career. >> when does your charm and? >> june 2012 thank you very

much. >> thank you for having me on. >> for a dvd copy of this program, call 18776627726 programs are also available as a pot cast. >> and next, speaking on the state of the british economy. after that, the first

presidential campaign. then rick perry at a town hall meeting in new hampshire. they discussed the upcoming supreme court term which opens monday. he talks about the impact of a new rule that took effect sunday. the center for budget priorities examines the cost of a federal program. >> the oral argument is the first time the justices talk about a case together.

when they ask a question i can figure out what is bothering them about a case and where they are leaning. >> the new supreme court term begins the first monday in october. this year, the cases included gps tracking without a warrant in copyright protection. >> the british house of commons is in recess. tonight we would hear from labor party leader and miller bent his spoke at the conference on the ripple on tuesday where he discussed the state of the economy. this is almost one hour.

>> thank you for that fantastic reception. it is great to be here in liverpool. a generation ago a labor leader came to our conference to condemn the behavior of a labor council in liverpool. today i come here proud of the city. unsel. [applause]

conference has been a busy year for me. as one person i want to thank more than any other for her love, for her support, for her encouragement. my wife, juss tin. [applause]

tell daniel, my oldest son, the stories my and starting to say what daniel used to tell me, a new generation of brothers. i know what you're thinking and just to reassure you juss teen and i are profoundly hoping they become doctors. and of course one other big event happened in my life this year. the one the media was most interested in. my nose job.

july 27th, they even gave it a name. ed nose day. now, in case you're wondering, let me tell you the doctors tell me the operation was a phenomenal success. i had a deviated septm and it needed repositioning. typical labour leader. as soon as he's elected everything moves to the center. [applause] conference a year ago, i was elected your leader. and i want to thampinge one colleague in particular for her support during that time. for her help, for her advice for her encouragement. and for her commitment to the values of equality and social

justice, our great deputy leader hair yeth harman. [applause] conference let's get down to business. this is a dangerous time for britain. and a dangerous time for britain's economy. the government's austerity plan is failing. you can sense the fear people have. as we watch the economic crisis that stalked our country in 2008 threaten to return. stock markets around the world falling. the united states in difficulty. the euro zone facing challenges. and people in britain losing their jobs.

now is not the time for the same old answers. from us on the issues that lost your trust or from the government on the challenge of growth that faces our country. you need to know there is an alternative. you need to know it is credible. so people need to know where i stand. the labour party lost trust on the economy. i am determined we restore your trust in us on the economy. [applause] i am determined to prove to you that the next labour government will only spend what it can afford, that we li within our means that we will manage your money properly. as someone who believes in the power of government i know i have a special responsibility

to make sure that every pound of taxpayers' money is spent wisely. the next labour government will face tough decisions. we won't be able to reverse many of the cuts this government is making. and let me tell you if this government fails to deal with the deficit in this parliament we will deal with it in the next. [applause] we will set new rules to set the government to a disciplined approach. and it is right as a down payment to tell you that er penny of the money raised from the sale of bank shares will be used to pay down the debt. [applause]

but i have to tell you, frankly, i have a fundamental disagreement with this government. they believe britain can address our debt problems without addressing our growth problems. they are wrong. think of how you pay off the credit card bill. you need to make savings in the household budget. but if you lose your job and your income, you're not going to be able to afford the repayments. that's what's happening to the british economy. people in britain are losing their jobs. they aren't spending. government is cutting back. and the recovery has stalled. of course the world economy is suffering. our government is making it worse because the current plan

to raise taxes and cut spending more dramatically than any other government just isn't working. a year ago you know lots of people thought the government was taking the right course. the governor of the bank of england, the international monetary fund. not one person -- but one person in particular stood outside the consensus. labour's chancellor. [applause] he was right. but he was not interested in being proved right. and nor am i. i am interested in the government doing the right thing by the british people. so there is a big choice facing the country. whether it's to stick to the current plan or to change

course. there is an alternative for britain and other countries to get together and work to get growth going across the world. to cut vhe in britain and to ley a bank bonus tax to put the young unemployed back to work. i say to david cameron, put the politics aside. look at the facts. look at what is staring you in the face. and understand that protecting our economy matters more than protecting a plan that has failed. [applause] so i'm going to tell it

straight and that's a lesson i've learned about this job and myself over the past 12 months. to be true to myself, my instincts, my values, to take risks in the pursuit of that. and to stand up for what is right. the moment it came home to me most was when i heard the terrible news that millie's phone had been hacked. someone had hacked into the voice mail of a missing teenager. deleted her messages. and given her parents false hope. what kind of country had we become? as jussteen said to me that morning, it was sick that somebody could do that. that's why i had to speak out. and i knew when i said what i did that i was breaking rule number one of british politics.

don't mess with rupert murdock. [applause] i did it because it was right. that's the lesson i've learned most clearly in the last year. the lesson that you've got to be willing to break the consensus not go along with it. you know, i'm not tony blair. i'm not gordon brown either. great men who in their different ways achieved great things for our country. but i'm my own man and i'm going to do things my own way. [applause]

that is what it means to lead. and i know this nobody ever changed things on the basis of consensus or wanting to be liked or not taking risks or keeping your head down. it's a lesson for me and it's a lesson for my party too. don't believe this stuff that governments that lose elections rather than oppositions winning them. it sounds to me too much like a consolation prize for opposition leaders who lose elections. i'm not i want rested in consolation prizes. i'm interested in winning back the trust of the british people and winning the next general election. [applause] my message to the public is

simple. we know waiting for the tory's to fail won't win us back your trust. and we won't desoy it if that's what we do. paying homage to past leaders, however successful won't win us back your trust. and we won't deserve it if that's what we do. asking to carry on where we left off in government however successful we were won't win us back your trust. and we won't deserve it if that's what we do. my top demand of me my shadow cabinet, my party, my team, is this. ambition. ambition to change our country. it's why we were founded. it's in our souls. it's the only point in doing the jobs we do. it's the reason i stood for this job and it is urgent at this moment in britain's 2011.

[applause] you know in er generation there comes a moment when we need to change the way we do things. this is one of those moments. and i believe from my conversations with you the british people over the last year you know it, too. you've seen a series of crisis hitting our country over the last few years. this summer's riots, not the first time we've seen decent people with the right values losing out to those with the wrong ones. the bampinging crisis. mp's expenses. journalists hacking phones. from the something for nothing culture, take what you can, fill your boots. who cares as long as you get away with it. and these are just noisy

scandals. look at the front pages. but you know there's a quiet crisis that doesn't get the headlines. it's about the people who don't make a fuss, who don't loot shops, fiddle their expenses and salaries in banks it's the hard-working majority who do the right thing. it's a crisis which is happening in your town, your street, and maybe even your home. it's a crisis of the promises made over the last 30 years. the promise that if you're in work you'll do better each year. the promise that if you work hard at school the doors of opportunity will open up to you. the promise that if you teach your kids the difference between right and wrong if you pring them up properly they'll get a good job and a decent home.

for me, these crises point to something deep in our country. the failure of a system, a way of doing things, a set of rules, an economy in a society too often rewarding not the right people with the right values but the wrong people with the wrong values. so the fask of leadership in this generation is no ordinary task. it is to chart a new course and to strike a new bargain for our country. and that's what i want to talk to you about today. >> let's be clear about one thing. right from the off. the problem is not the people of britain. i saw it when i met our troops in afghanistan this year. brave men and women called to serve our country. at this moment as we meet in the comfort of this hall, hundreds thousands of them are

risking their lives for us. in harm's way so far from home. we should think of them today and every day. let's all thank them and acknowledge the heroism they show on behalf of our country. [applause] as always in our history we see the true british character in moments of crisis. we saw it during the riots, it was a terrible moment for britain. people looting shops, burning cars it even happened right by

my old school. but for every person that looted, there were hundreds, thousands, who said this will not stapped. and came to help with the cleanup. i saw it in man chester. people of all generations who came out the next morning to get the city back on its feet. those young people with the brooms. [applause] those young people with the brooms who join us at conference today. let us celebrate, too those brave police officers who worked day and night to bring order to our streets. they put themselves in harm's way and we should thank them,

too. [applause] we are not a country of bad people but great people. great people in a great country. ready to celebrate the olympics next year, olympic britain 2012 ready to light up the world. [applause] so if we're such great people how have we ended up here? it's because of the way we have chosen to run our country and not just for a year or so but for decades. and there are hard lessons here for my party which some won't like. some of what happened in the 19 0s was right. it was right to let people buy their counsel houses it was right to cut tax rates from 60, 80% and it was right to change the rules on the close shop on

strikes before ballots. these changes were right and we were wrong to oppose them. but while some of it was right too much of what happened was based on the wrong values. and that's where new labour came in. the rebuilt schools, the new hospitals, more police. the minimum wage, tax credits, the new deal. half a million children lifted out of poverty. britain with labour the only country in europe where poverty was going down and not up. [applause] my party is proud of that record and so am i. but good times did not mean we had a good economic system. we changed the fabric of our country but we did not do enough to chail change the

values of our economy. [applause] you pleeve rewards should be for hard work but you've been told for too long we have to tolerate the wealthiest taking what they can and what's happened is your living standards have been squeezed and we've seen run away rewards at the top. you believe we owe duties to each other but too often we've been told that duty to each other come second. so while many companies do the right thing and train their workforce, others do not and what's happened, you've seen your sons and daughters not getting an apprenticeship, stuck in a job or unable to find one. and we have seen immigration policy which didn't work for the people whose jobs living standards, and communities were affected. you believe in the right values of the long term. but in our economy too often you've been told the fast buck is how we'll get on. and what's happened?

we've ended up with a financial crisis and you've ended up paying for it. you believe in a society where everybody is responsible for their actions. but you've been told that if companies are big enough or powerful enough, they can get away with anything. and what's happened? big vested interested like the energy companies have gone unchallenged while you've been ripped off. so for too long you've been told that the only way our economy can succeed is if we reward not your values but a toletly different set of values. trickle down economics, the triumph of finance over industry. vested interests over the public interest. and who has been rewarded in this economy? take fred goodwin who ran the royal bank of scott lapped. he was at the heart of the banking crisis. compare him to sir john rose,

former chief jutive of rolls royce, a great british business leader. [applause] creating wealth and keeping jobs in this couptry, the true face of british business, the vast majority of our businesses that have the right values and do the right thing. rooted in their communities committed to their workforce and creating real lasting value. but at the time of the financial crisis fred goodwin was paid over three times more than sir john rose. i tell you something, conference, fred goodwin shouldn't have gotten that salary and i'll tell you something else, we shouldn't have given sir fred goodwin that nighthood either.

[applause] you know what your values are. you believe in looking out for each other. you believe we are stronger together, weaker on our own. but we have allowed values which say take what you can. i'm in it for myself, to create a britain that is too unequal. the people at the top taking unjustified rewards isn't just bad for our economy. it sends a message throughout our society about what values are ok. and inequality reinforces privilege and opportunity for the future. you know what your values are. you believe that whether you get on shouldn't depend on where you come from but what you have it within you to become. those are britain's values. reward linked to effort. something for something.

but as the rungs of the ladder grow further and further apart the chances of climbing up become harder and harder. think of some of the kids going to school in my constituency today. or in your town, your village, or city. and then ask yourself, what are their chances, however bright, of getting into one of the top universities competing against people with all the chances in life? or having the network of connections that will set them up for their career. 21st century britain still a country for the insiders. and what's my story? my parents fled the nazis and came to britain. they embraced its values. outsiders who