the old europe to make the migrant code mandatory for everybody and i think that's a bold statement for you know a former top official of the european council how do you think it should have been handled. your deferred think is if you want to keep the internal. space. open without borders without control moving freely from one country to the next one then you have to prove take the external board are much more effective than we did then we have now phone takes phone takes today a little bit more than two thousand st louis' a thousand. this is not enough and i think did you commission with a new financial proposal is exactly working along these lines i think protecting the external border this is important but this is only to see the defense but to see the it more imposed or equally important is the prevention of a ground floor so it's not only refugees today you have a lot of thousands of africans young people seeking a better future

a better economic your perspective jobs income is here to us and we should take them but in their own countries in their own region today if you see important this is your thinking about what could happen but what about those people who have already arrived the european border is there more than a million of them how they should they have been distributed if there are a number of countries who claim that they cannot accept down for economic elite if they are here here they are mostly now indeed indeed in the d.c. to sions or most of their way into germany to sweden and to austria and of course to us or some other countries eataly greece are still very much affected but you know this mother to recall the did not to look very close to if you look for is the little good luxembourg in vain except it's twenty richie's that with a private plane the foreign minister when they. the prime minister of police t.

pers was the prisoner of the european parliament was there pleading and will coming to reduce the have to be. illegal be to inform why they should go to luxembourg today no one of these twenty refuses to listen to every will go to it doesn't work. if you have if you really want to have a good bit of functioning system you have to improve the external border protection has to integrate those who are already in and you will never find ways to put them back to. or tool to greece this is something you this was missed in two thousand and fifteen we have to live with it in to integrate those who could get asylum and those who can not get this island they must be sent back to their home countries chancellery have to live in there really appreciate your time today and i encourage everyone to keep this conversation going in our social media pages and i hope to hear again same place same time here and also part.

each family was engaged in massive political financial corruption which led to a concentration of wealth and ultimately the downfall of that country so in america you have a similar corruption playing out as we call it money in politics and people try to get rid of the lobbyists and this cycle is being played out all over again and so the question is is it inevitable.

elliston is getting international recognition with the help of israel at least in the world of zoos and member of the commission to do it to you like you know. this is my complicity is going to solve the whole maybe. you know john just over there you see it the only palestinians who gets the most hope from its jerusalem counterparts i don't think there is a of those who. vision the only could do this. and that is all of us not just you have to display real muscle that you have going to continue muslims you know do more. but there's no.

right. tensions are high ahead of friday's it g. seven summit in canada with world leaders engaging in tough talk over new u.s. tariffs and donald trump saying he's ready to fight over the issue. from the world cup to world war three foreign policy shares the spotlight with domestic issues during a lot of your putin's sixteenth q. and a session with the public. and time for a wake up call the british parliament's upper chamber the house of lords is berated over members falling asleep during such. a space but i'm going to be let's have

them and i think i went so well to say why should i i'd love to be paid for having a campaign in my own history long day just listening to other people all day long so i get on a bit so i'll let them have the. next hour my colleague joins you with more on today's top stories but now it's time for stay with us. there this is the ca's report. max i'm going to introduce you to the family and it's important to know about them in case you don't know anything about history and many of us don't but they are in our news today because we have something called the made cycle happening here in america but first remember they are the house and the d.c. the were in the republic of florence they ruled the republic of florence and then

expanded their power across europe they installed family members and as like katherine did in france the queen of france the pope's in italy. you know they became powerful in the first half of the fifteenth century because they were banking family who were first to really use the power of double entry bookkeeping so they were the ones that became very powerful from that which is interesting in today when we have bitcoin and triple entry bookkeeping so they became powerful through that they brought us the likes they were patronage of the arts they had some like from davinci to raphael they financed these guys so you know they did bring us some good stuff but the warning on it is coming up really though they were fantastically wealthy at the time and what happened well america the media cycle in

the corporate powers and politics a recent paper by luigi zingales of the university of chicago titled towards a political theory of the firm deals with the issue of rent seeking behavior by monopolistic firms through political influence neoclassical theory assumes that firms have no power of feel any different from ordinary market can try. acting thus fortiori no power to influence the rules of the game rights and galleys in the real world firms have such power i argue that the more firms have market power the more they have the ability and the need to gain political power thus market concentration can easily lead to a mid vicious circle where money is used to get political power and political power is used to make money so you obviously see that across america now you see these giant corporations spend enormous amounts on lobbyist but they spend even more

enormous power amount on funding campaigns funding super pacs citizens united the supreme court allowed for these corporations to spend unlimited amounts of money and why do they spend why are they spending more and more money in america well because the likes of occupy wall street because of all these activist groups because of people starting teachers striking across america as they're starting to strike and protest against the monopolistic pricing power that many many corporations and the telecoms industry in the health care industry and the pharmaceutical industry have and the stress the ordinary population is enduring you're seeing that they're rising up and getting politically active and casting their votes for anybody who will destroy the pricing power of these monopolies and the monopolies and therefore to protect themselves poor more and more money into buying the politicians who won't listen to the people and i guess the question is

is it inevitable otherwise ok the media to family was engaged in massive political financial corruption which led to a concentration of wealth and ultimately the downfall of that country so in america a similar corruption playing out we call it money in politics and people try to get rid of the lobbyists and this is cycles being played out all over again in. so the question is is that inevitable the us was created with the toward separation of powers and i toward distribution of power and trying to mitigate against the risk of wealth concentration lasted quite a long time but now these lobbyists have come in they've changed the constitution they've changed the bill of rights of the end run around the bill of rights i'm thinking about this whole net neutrality debate that's clearly a violation of speech is second first amendment and so you have a repudiation of the basic concepts of the founding fathers due to this cycle or corruption but is it inevitable i mean it just seems like there's nothing to stop

at the moment it seems like this is how we're feeding as an empire is partly because of this and you can see how it happened back then ok so that would be chief family should they have been compensated for the first two basically market and create a lot of wealth through using double entry bookkeeping should they be penalized for that they were the first to figure it out but at a point where they've bought and you know they become very wealthy they become very close to princes and other leaders at the time they then start having so much wealth that they create great works of public art the likes of warren buffett and bill gates today they publicly very publicly give huge amounts of money on paper anyway they say that we're giving billions of dollars to fight malaria we're giving billions of dollars to all these good causes

and it does work you see a lot of people feel like warren buffett is caught only in a nice guy and why would you have any problem with his you know even he by the way his wealth he himself he states that publicly he said it in his shareholder newsletter that he looks for companies that have monopoly pricing. power it just emerged for example that he tried to invest three billion dollars and what is seeking by losing money big time right now is they're seeking to destroy all the competition in order to have monopoly pricing power ok but who created the wealth was. family or was it the artists of the renaissance so the artists of the renaissance created a distribution of power away from the feudal lords of the middle ages and so they had wealth distribution then the medicis came in and they reimposed the wealth concentration so to try to avoid a populist uprising in the first forex they throw

a few bones out a couple artists and say we love your work here's some shekels to go build some more i have to say they did finance some of the most spectacular is devin she was one of the greatest artists of all time and he would relied on the family for a lot of his funding so it's not like they didn't participate in that but in terms of what's happening in america and how the process happens zingales and this is actually a piece from constantine there are also some metric incentives for the firms to engage in rent seeking as in galley's notes if the ability to influence a political power increases with economic power so doesn't need to do so because the greater the market power a firm has the greater the fear of expiration by the political power this sounds extreme but it is quite intuitive as a firm gains market power its prices rise above the marginal cost yielding abnormal economic profits to the firm at the expense of consumers the governments can and do

claim political mandate to limit these profits by taxing the market dominant firms profits either through regulation or direct taxation thus explain it in part of the abnormal returns i want to point out that you know trump is a business guy first and now he's president and you know you saw that tweet trump said. major drug companies to announce massive voluntary price decreases in two weeks this is part of that fear of these pharmaceutical companies who have intellectual property they have the department they have the whole government on their side to enforce these strict intellectual property rights and to jack up prices one hundred percent two hundred percent three hundred percent a year and there are lifesaving drugs and a lot of people you saw this in the twenty sixteen well actually you saw in the two thousand and twelve election you saw the two thousand and eight election president after president you know political candidate after political candidate claims that

they're going to fight this one issue that americans are really against are against the banking monopolies and they're against these pharmaceutical and health care monopolies that are imposing so much severe cost on their basic necessities of life and they keep on to stop this monopoly pricing power as trump is recognizing here but of course he's not doing it through regulation and he's not doing it through government diktat he's just asking them for a voluntary price decreases allow them to remain stored of you know power centers to refer to something in the text that you're reading there they are talking about a normal rate of return so the business community which is owns the media and they own most of the government what are you there is no normal rate of return or a milton friedman type argument would be they are.