idea that their god the artwork suggest that they're the dow gobs of the markets of their milton friedman on crack and bernanke exemplifies that to perfection well let's continue on bonds we mentioned bernanke ian relating it to japan because he says bernanke blower of bubbles and this is from paul krugman in the new york times and he asks why all this talk about the bond bubble partly reflects the correct observation that interest rates are very low by historical standards what you need to bear in mind however is that the economy is also in a specially terrible shape by historical standards once in a three generations terrible the usual rules about what constitutes a reasonable level of interest rates don't apply well again is total do. posted it because krugman is saying rates are down because the economy is soft but then the officials in japan are saying rates are rising because it can make activity is up you say so again it's convenient in japan to say economic activities up so rates are rising but a new side of the ocean they'll say well yeah you know the economy's down there going t

as a milton friedman fellow of public policy what is it that you do? >>guest: i was asked that once in a legal case as an expert witness the opposing attorneys said it says you are a senior fellow now would just what does a senior fellow do? i said he has no powers and no duties and the judge said i wouldn't mind to have a job like that. >>host: you spend a day thinking? >>guest: billion ideas from morning to night is nothing but exhausting. [laughter] >>host: when you talk about cognitive justice what you mean? >>guest: i guess when what they mean by social justice is of justice for an initial opportunity to have the same life that i call a cosmic justice because no society has ever done that in any country. so what you're asking is for the whole life chances to be the same it is virtually impossible. some kids may be raised over the same economic level but there is one set of attitudes toward education and the other will not and the one in the family that does not have the same attitude may be a fine fellow but he doesn't have the same chance there i

it was really friedman versus class. friedman was supposedly a great free-market guy who created this monster of the federal reserve intervening in the debt market. he was a conservative, so we set only put those who read book reviews, not doing anything in the money supply grows at 3%. he never explained how the process is going to deliver in munich that would have the discipline. what we have instead is people interested in power, people interested in running the economy and the world in finding excuses to do it for maternity three-masted beaches the a substantial economic >> in 2008, most of us remember there is a real sense of panic for potential panic. how would you have carried forward or not bomb that? >> great question. during the panic of 1907, which is every bit as dire as does any one a couple commercial commercial banks for failing to teddy roosevelt was president. he was in louisiana bear hunting. he got a message there is a crisis on wall street. he set out kerry will continue bare and sit in the swamps of

i am not milton friedman. he made a point, he would make the point that capitalism when it is oriented the great beauty of capitalism when it is oriented around profit maximization, everybody in fact does win. if you are a company and you're doing your job the right way, customers and getting great products and willing to pay you for some, your suppliers are getting their products sold, your investors are making a return on their money, your employees are happy because your business is growing and there is opportunity for the advancement and greater pay. what is also wonderful is it is one idea around which everyone can unite and agree and of course there are all the side benefits which you mentioned in the book that go to society, centralized, everyone is allowed to use the money they made from this venture to improve society as a hole through their own different decisions and you get better literacy and better health than less poverty. the argument classical economists make about what you are saying is if yo

friedman was wrong, glass was right. friedman was supposedly a great free market guy, but he created this monster of the discretionary federal reserve intervening in the debt market and buying up the government debt. now, of course, he was a conservative. so he said only put monetary units on the fed who will sit around most of the day, you know, reading book reviews, not doing anything and every now and then change the dial so the money supply grows at 3%. but he never explained how the political process was going to deliver up monetary units that would have that kind of discipline. what we've had instead is people interested in power, people interested in running, you know, the economy and the world and finding excuses to do it being appointed to the fed, and we've turned it into a massive agency of, you know, substantial economic destruction and dislocation. >> in 2008 i think most of us can remember there was a real sense of panic, both potential panic. how would you have carried forward during that moment? just put

the first time bill buckley met milton friedman and frank meijer was there. anyway that's when we started in this society to get next year we are going to have our 50th anniversary and that this kind of exciting because what that does is bring together a lot of the leaders in the institutions and a lot of leading intellectuals fallen on the country for that annual meeting and contract so there are a lot of things in terms of promoting our ideas and the building the conservative movement i look forward to doing and i can say this. first it's that she's put up with me but she does remind me still she married me for better or worse but not for much. [laughter] i will be around. i don't play golf. >> the conservative movement, and i think it can truly be said america is so very blessed to have you as a past leader come as a present leader and i'm absolutely certain as a future leader in all these areas. thank you for being here. [applause] a look at one book yuma a local literacy programs sponsored by the public library created to engage in the community and i lo

>>host: how well did you know, milton friedman? >>guest: i was a student of his at one time. he was the reason i was brought to the hoover institution one of the fine human beings and i often say if you ask me to name someone who both had genius and common sense of what's in milton friedman then would have to struggle to find another example. >>host: we have been talking with dr. sowell here at the hoover institution stanford university. here is his most recent book , "intellectuals and race" this is the tv on c-span2. of. >> and was curious what you think several of the ceo in and talking about capitalism to defend capitalism is. do they have roll or a the role of government and how it works against business. the ceos have rolled to talk about and defend capitalism to explain it to people but is it something you do purely by example? >>guest: i think we do. one of the most disturbing statistics for me is for the longest period of time, understanding the history of the united states, we started out really pour. we were back water here in the united states. and really as we em

i wouldn't want to put a percentage on it. >> host: À la pacino built friedman?>> guest: i was a student of his that one time. he was the reason is that the hoover institution. really assign human being. i often say if you asked me to name someone who has both genius and common sense, i would say milton and then i would have to struggle to find another example. >> host: we've been taught and with dr. tran three at the hoover institution at stanford university. here's his most recent book, tran thi is. this is booktv on c-span 2. >> next, william b. gould sat down with booktv to discuss his book, "bargaining with baseball." professor gould talks about the history of player owner relations in a spell on his own involvement in ending the night 94, 95 each of the baseball strike and problems facing the sport today. this is about 20 minutes. >> host: on the screen is william b. gould. he is an emeritus professor of law at tampered and the author of "bargaining with baseball: labor relations in an age of prosperous turmoil." mr. gould, why are you writing about this to

second the great debate is friedman versus god.friedman was supposedly a free-market guy who created this monster of the discretionary federal reserve intervening in the debt market. he was a conservative. so he said only put monetary units on that, not doing anything, and every now and then, change this to percent. but he never. >> teddy roosevelt was president. [inaudible conversations] he said over the crisis and i will continue. by the time he got back, he had taking care of his own problem. all of the officers say, you screwed up, that includes the board of directors that were supervising you. they have failed. now, i might point out that during this panic, which i compare the panic of 1907 to the blackberry panic. during that panic, there was no federal reserve. nevertheless, they got it under control. and the economy suffered for a couple of years. it is an indication to me that the mechanism that is missing today -- many days, this is unbelievable. on sundays the interest rate up when a 10%. it peaked at 5040%. therefore, a

in a saturday editorial ironically titled judgment not included friedman asking muslims to elaine why such a critical number of their community is attracted to terrorism. we must ask a question only muslims can answer what is going on in your community that a critical number of your youth believes that every american military action in the middle east is intolerable and justifies a violent response everything muslim extremists do or the other muslims ignore a bill and calls for mostly silence. here's a question only you can answer to. did you ever ask white americans you know like the people who shot up the sikh temple bombed abortion clinics attacked the whole across museum bombed the. olympics to be responsible for the actions of just a few crazies by the way if any of you new york times readers out there is confused as to why the guy who's written such wonderful pieces of the power of green technology is over the past few years suddenly attacking muslims just what this clip from two thousand. saw on this. that charlie was what this war was about we could hit saudi arabia. what it w

course roosevelt is somebody who he cast aspersions toward in any any possible moment he's a milton friedman a guy he's a monetarist he's a money printer so to go back and say well it's the roosevelt like stick to it of ness is really again duplicity on the part of ben bernanke he picks a policy i mean this is classic. duplicity on the part of wall street or what people call selective amnesia where he'll remember certain things if it supports his current theory but don't forget everything else that doesn't support his current theory that could change at any minute so anyway they're praising the sacred meek. the nikkei is up seventy percent since the was elected in december so it's up it's up it's up now of course the yen was at seventy seven to the dollar back in november it's now at one hundred and one hundred two to the dollar so it's crashed by thirty two percent so accounted for half of the rise in the nikkei but of course the slate authors do not mention the whole situation with the japanese government bonds which are limit down almost every single day but the japanese bond market is fu

people spend money, just who spends it, friedman had this he put it well, he said nobody ds some one else's money as wisely as they spendheir own. john: you talk with your colleagues about there have been no real cuts, do they look at you like you are wrong? >> no, i think a lot of people up here understand it. people like krugman take it and demagogue an issue they know full well we're not cutting o spendinge're slowing the rate of growth at best. butteven tha rate of growth, you saw they went crazy, the sequester, the sky is falling, the same week they do, that they sent extra $250 million to egypt. they havenough money to send around the world but not enough for white house tours, that does no pass the smell test. jo: have you plan, you would eliminate commerce,ducation, energy, housing and urban development. you say that to people that frightens them, assume? >> well, i telllto people is that really what is extreme is what i going on up here. balancing our budget, if you talk to a family about balancing their budget, not spend morgue than com in -- spending more than comes in, it

people spend money, just who spends it, friedman had this he put it well, he said nobody spends some one else's money as wisely as they spend their own. john: you talk with your colleagues about there have been no real cuts, do they look at you like you are wrong? >> no, i think a lot of people up here understand it. people like krugman take it and demagogue an issue they know full well we're not cutting our spending we're slowing the rate of growth at best. butteven that rate of growth, you saw they went crazy, the sequester, the sky is falling, the same week they do, that they sent extra $250 million to egypt. they have enough money to send around the world but not enough for white house tours, that does not pass the smell test. john: have you a plan, you would eliminate commerce, education, energy, housing and urban development. you say that to people that frightens them, i assume? >> well, i telllto people is that really what is extreme is what is going on up here. balancing our budget, if you talk to a family about balancing their budget, not spend morgue than comes in -- spendi

also composer dave friedman is here, go to his website and dave wild, who's sweet enough to take timetoo. this is our favorite part, a.j. your mom mentioned sometimes in school you have trouble learning, so the folks -- you're a visual learner, so the folks at ipad would like to help out. and so target electronics heard about you and they are sending you two mini ipads and an apple itunes gift card. so we want to thank the folks at target electronics for that. >> that's what you've been wanting, right? >> hey, a.j., i hear you also have a message for somebody. who do you want to say something to? >> my grandma and grandpa. >> are they watching? okay. look right into that camera and we'll say it with you. on three. one, two, three. >> hi grandma and hi grandpa. >> let's add love you too. love you! >> whoever grandma and grandpa are, they appreciate us. so glad we could be here for you guys today. tomorrow, the winner of our most deserving mom contest, do you think you're the only one? >> and curbing those carb cravings that hoda has all the time. how do you think she got to be number 7

. >> funding is made possible by the friedman foundation of new york, stowe, vt., and honolulu. newman's own foundation, giving profits to charity and pursuing the common good. union bank, and fidelity investments. >> your personal economy is made up of the things that matter most, including your career. as those things change, fidelity can help you readjust your retirement plan. refocus as your career moves forward. wherever you are today, a fidelity ira has a wide range of investment choices that can fit your personal autonomy. >> bbc world news is presented >> bbc world news is presented by - hi, neighbor! today at school, we're choosing something new for the playground! swings or slide! they're both fun to play on! and then, we get to choose a new class pet! be right back. is made possible in part by... the richard king mellon foundation. dedicated for over sixty years to south western pennsylvania's quality of life, and competitive future. and by these pittsburg foundations. working together to enhance and enrich the lives of children for more than seventy-five years. and b

milton friedman proposed a negative income tax in the '60s and other people have as well.ul way of inducing market activity and freedom and allowing people to loot full lives as they choose to lead them. melissa: peter, would you like it if you thought it would work? is your main problem with it would be too hard to get rolling at this point? if we had a clean slate to start over wouldn't it make sense? >> it is very noise for academics to talk about th. milton friedman was a theoristician's theoristician. in reality it doesn't work that way. the putting health care aside, one of the principle benefits we give poor children access to health care. if you're not putting that into the program, you will not have very much money to prefor this. melissa: that's a great point. >> you're just not. melissa: let mike respond to that what you do i this about that? >> education is also a thing we want to mandate people have to pay for and send their kids to. we can't simply look at people with kids here. there are a lot of people who don't have kids. a lot of peopleave their own lives

presentation this is made possible by the friedman foundation and york stowe vermont, and founion bank and fidelity investment. this is what a personal economy looks like. and as like changes fidelity can help a just along the way. refocus as careers change in kids head off to college in revisit your plan as retirement is closer. wherever you are today fidelity can help fine-tune your personal economy. fidelity investments, a turn here. ourt union bank, relationship managers work hard to know your business. offering specialized solutions in capital to help you meet your growth objectives. we offer expertise in tailored solutions for small businesses and major corporations. what can we do for you? >> now, "bbc world news america." "bbc world news america" reporting from washington. nigeria's president declares an emergency. a massive campaign gets under way targeting islamic insurgents. what a week at the white house. republicans are talking about jail time for possible violations of the irs. and it kugels newest gadget promises it will change our view of the world. newest gadget promis

i believe strong in what friedman said.friedman said, nobody spends somebody else's money as wisely as they spend their own. that's why we need to leave more money in the hands of those who earn pit. >> let me switch gears is and ask you about apple. i want to run the sound bite of you yesterday as a portion of your opening statement and then talk a bit about it. listen to this. >> i'm offended by the spectacle of dragging in executives that an american company that is not doing anything illegal. if anyone should be on trial here, it should be congress. i frankly think the committee should apologize to apple. i think that the congress should be on trial here for creating a bizarre and byzantine tax code. >> well, that took some courage, senator. what was the reaction from your colleagues afterwards? >> i don't think they were too excited about it. but i think the criticism is apt. the tax code drives people overseas. money goes where it's welcome. if you make money unwelcome here by taxing it at 35% corporate tax and canada

so with all due respect i disagree with tom friedman on this as i have with him for decades. >> [inaudible >> make it to more. >> my question is, first of all, just let me say i fully, my name is ron wolf. i've been in middle east educational development and teaching for most of my career. i agree wholeheartedly with your view that we are at a one state solution at the present time. my question is, well, to go back to november when there was the threat by the israelis on gaza, hillary clinton left southeast asia, came to a very quick agreement about something. >> i remember. >> my question is, did that agreement involved egypt take responsibility for the gaza strip and hamas? >> good question. >> jim? the mic is coming. >> good to see you again, rashid. as you know, i'm a real believer in what you write, and particularly what you said today. so forgive me what i'm about to say but i'm a very frustrated middle east peace activist, so those of you who know me, i've been involved with this for over 23 years trying to organize the churches, educate the mainline churches in this particular area

thomas friedman new york times middle east specialist columnist was interviewed on the charlie rose show you know the sort of intellectuals through the biscuit. as asked him what we ought to be doing in iraq. i wish it could but you've got to see the actual words to grasp it but basically what it was when he said something like this he said. american troops ought to smash in. the houses and. make people understand that we're not going to allow terrorism. he said suck on this we're not going to allow terrorism in our society you've got to better understand it so these terrorized women and children the. have to be. humiliated and degraded and frightened so that because so that. the that goes i mean it's mind boggling that's the peak of the liberal intellectual culture it was ugly and we have famous like richard dawkins saying that as long as long as one of the greatest threats facing humanity i mean that's a whole nother form of propaganda the liberal elites perpetuating this not just neo con the shit out of the much for. all the media i want to talk to you about that because obviously tha

thomas friedman new york times the middle east specialist columnist was interviewed on the charlie rose show you know the sort of intellectuals through the disco and he was asked what we ought to be doing in iraq. i wish it could but you gotta see the actual words to grasp it but basically what it was when he said something like this he said. american troops ought to smash in. the houses and. make people understand that we're not going with terrorism. he said suck on this we're not going to allow terrorism in our society you've got to better understand it so these terrorized women and children in the bus or a bag have to be. humiliated and degraded and frightened so that because so that. the that goes i mean it's mind boggling that's the peak of the liberal intellectual cultures it was really famous like richard dawkins saying that as long as long as one of the greatest threats facing humanity i mean that's a whole another form of propaganda the liberal elites perpetuating this not just neo con sort of out of the right of much. all the media i want to talk to you about that because obvi

as tom friedman has described in his book, "the world is flat," advances in technology, travel, commerce, communication, and broken down barriers between nations and individuals, globalization has had a flattening effect, leveling the playing field for all of us. this hyper connectivity is in powering engaging people around the world, both friend and foe alike. how do we stay ahead of terrorists, spies, and hackers? intelligence will continue to drive our investigations. we must ask ourselves -- what do we know about these threats? what are the gaps in our intelligence? what human sources can we develop to cultivate to fill these gaps? each of us, government leaders and everyday citizens alike, must ask ourselves what vulnerabilities we may have overlooked. we must also place even greater emphasis on partnerships and information sharing. no single agency, no single company, no single nation can defeat these complex global threats alone. in these days of tight budgets, working together is essential. it is the only way to work. finally, we need the right tools to address shifting threats.

and develop more are than aria audience members sold friedman. nazi. germany and i would say dot com they report on the production cancelled for being too. last night. more news today violence is once again flared up. these are the images the world has been seeing from the streets of canada. trying to corporations rule the day. one of the eighty's most recent members of any m was once of the rising stock of the blogs economic success but if he is in there the euro have seen a lump into recession unemployment double since two thousand and eight and its banks on the verge of going under so vain is trying to sort itself out without brussels help but that's proving to be tough the editor in chief of the trans economy magazine told us that all the indebted countries went through this stage everybody who has been in trouble in the eurozone in the last years as in the first phase of the crisis always refused to admit that they are really in trouble and that of course is first of all some kind of psychological game they're trying to play with the markets and w

but remember what milton friedman thomas. the real level of taxation is the level of spending. the real problem with this nation is burden with, we have a government that is too big and too wasteful. we have a government that snds $11 million to create one green job in an area of the economy that is nowhere near mature to contribute to the overall well-being of the economy. we have to correct this. the republicans can't understand , the requirement is to be on the spending side, and no amount of tax simplification can compensate. >> when i hear the administration bragging about the revenue coming in and saying that it justifies tax hikes and republicans then sort of give up the fight on spending cuts, fr whatever meritorious reasons. >> minimizing is what it is. let's take something that is laudable, and we will take that asur second-best solution while we surrender on what is urgent and necessary. we will take what is convenient they are slow learners, but they are also people who onlylearn that which is politically convenient to their ideologically defined objectives. we must

but certainly his own backyard avery friedman is a legal analyst for cnn.him as our own here on the full court press joining us on our news like this morning. hi, avery. how are you? >> it's nights to be with you. i am happy when i talk about this. >> we thought about you right away but first of all, how could the police have missed this for fen years? they were called to the house for various reasons, walked around the houses. did they blow it in this case? >> that's a question that many are asking. but you do have to know the neighborhood. it's tightly-knit. this is one that's been ravaged by what happened with the housing bubble and extreme poverty, heavy minority and one might thing how could this be? the fact is two of these three young ones remained on the database interestingly enough for whatever bizarre reason and michelle knight, one of the 3, the oldest was removed after 15 months, which is going to require a lot of explaining. but by and large, the neighbors are saying we didn't know and the cops that pat tro the beats are saying we didn't know.

you understand that these people have not studied keynesian economics they have not studied milton friedman as far as they're concerned it's quite simple we trust gold more than paper money we reckon that gold is a better and more consistent store of value than paper money that is our experience and that is what we're going to continue to do so that vigilantes to sara lee but then combined buying power it will stop the paper because we've got to move on because we have some issues here that i meant to bring up with you and i'm chewing up all the time of this interview and i want to get into these issues that you write about that there is a point time where there's so little gold left that futures and forwards markets cease to operate effectively so here's where this demand on the physical side meets the the futures contracts the nexus of the paper apocalypse as i call it but are we talked about for years on the shelf are we at this inflection point will there be a failure on one of these like the comics or l b m a well we will only know that by looking back at this point in time some stage

expect from this is inflation but remember you know as milton friedman said inflation comes with a lag so it doesn't mean just because people are pretty good inflation the next day the other things have to happen behavior has to change in velocity as to increase as we've discussed. reports from the recent meeting of the brics brazil russia india china suggest they are ready to dismantle the dollar system do you see this happening max the brics they want to and the dollar system without it's likely in the share on what they're more likely to do is start the beginnings of an alternative system but it's important understand these things take years you can't just snap your fingers and have a new currency actually you can have you can take a currency make it a trade currency very easily china is doing this with the you won they have bilateral agreements with brazil and some other countries that's just a matter of keeping score you can have you can use bottle caps as a trade currency just means you keep score and you buy a lot or trade surplus or deficit and settle up every now and that a re

out not friedman was a vocal advocate of expanded immigration.he pointed out that what changed is we started to see the expansion of the ever-growing welfare state. right now our country spends roughly $1 trillion in federal and state means tested welfare plan.

. >> we have to judge the program of milton friedman number their intention but their effectiveness. >> we have to many that are ineffective and you canno get ready -- rid of any of them. thank you. coming up we wanto protect our children but to as we protect them or do we rob them of grit? we help kids tests are limits but now americans are toldo get rid of risk, john: you know, lew enter jackson was our seventh president he is on a $20 bill and during the revolutionary war jackson volunteered to fight and was at the time. the british captured him and made him ar british officers 11 ordered jackson to clean his boots he said no and the officer lifted h ward and slashed jackson's hand and then he nearly starved in a prison mp but he had grit and survive damage on to become prident. did you have that much when you were a kid? i doubt that i have it now and today i your parents say th have to protect their kids from all danger. some do notet teen-agers go to school by tmsels that is nuts says lenore skanayzy saying ameritech needs and free range kids. >> their kids we believe and and d