mcafee, you said as the milton friedman, you can't have open borders and the welfare state. you should shut down the border until you take down the welfare state? >> i'm not saying i agree with the statement, which i do not. i don't believe they have anything to do with one another. the attitude of the government toward the citizens that creates the welfare state. i would like to say about letting muslims in. what are we trying to protect ourselves from? is it not ourselves? did we not create terrorism by interfering in the affairs of foreign nations? [ applause ] >> i want to say you left out a part of milton friedman's statement, when he said you can't have open borders in welfare state, he followed up by saying illegal immigration is superior. why? because then they don't qualify for benefits. [laughter] >> if we had a simpler path to naturalization, we wouldn't have a problem. we should build a wall around the welfare state. [ applause ] >> next topic, donald trump supports free trade but only fair free trade. he says our bad deals with other countries have cost american

milton friedman cordoned the term, do you think it has a future?a is talking this morning about how legal hurdles. it isng applied, unless stopped in japan or in europe. it would very much depend on how you define it. christian: i think ultimately what helicopter about is that the central bank effectively deciding fiscal stimulus. which the governments could do themselves, they could just democratically decide to do fiscal stimulus. if weope for instance, get a new recession crisis, government's consent to spend more, borrow more. he would get the helicopter money. that's theocratic problem with helicopter money is that the central bank does it, there is no democratic way to do it. unclear ifit is very the ecb could do it. what we have seen over the past there is a loto, of possibility in the european treaty. if they really need it, they really want to, they will probably find a way to do it. is iftely, what matters there is another crisis, we may see that the financial study was has run its course. if they do not do it from the central bank may ha

two kinds and we need to distinguish the system which was then called negative income tax, the milton friedman idea, propped up people's wages, turned out to be a work killer. for the simple reason if you were making $9000 and established level was $12,000 and the government gives you $3000 under those circumstances you have no incentive to make that $3000 yourself because you make the same amount of money anyway. the straight cash benefits, the purest form is the charles murray plan in his book in our hands which is to give every adult american $10,000 a year and nothing else. this is affordable if you don't give it to the truly wealthy and that distinction, does have to be made because if you are giving $10,000 a year to millionaires, and everybody in between it does cost too much. we haven't really tested this at all well and i agree with you. michael has written a good deal about this and some experiments on giving people money and let them make their own decisions. murray sets up some interesting hypotheticals, he said $10,000 a year, three or four if you want to get together and grant a

betty freed dan, milton friedman. >> right. melissssa: one of my heroes, real piqued my ieresest. what is sonteresting he is obviously exact oppoposite of bernie sandeders but in a lot of ways he came along at titime, he tatalked about what was wrong wh what had just gone b by. he was rlly able to communicate it so wewell. bernieie sanders, kind of doing the exact sasame thing but from the opposite angle. he is talking socialism when the free market has been in controrl for so lg. milton fririedman was taing free market with the new w deal.. do you see s similarities? >> i think you're righght. it hadn't occurredo o me. melissa: you're saying i'm brilliant? that's wonderfrful. >> that was brilliant insight,t, from my perspepective,e, one ofe joys being a writer you learnn things and get t to communicate with people. the other people read the boboo, hey, i had this thought whicich you did for me. it helped me. so thank you. i will say thihi milton fririedman coming out of depression era, workrking for te governrnment you would have thought he would h have been a keynesiaian. you ha

the system which was then, i think, called negative income tax which topped up -- >> milton friedman -- >> yes, the friedman idea which topped up people's wages turned out to be a work killer. and for the very simple reason that if you were making $9,000 and the established level was $12,000, then the government gives you $3,000. under those circumstances you have no incentive to make that $3,000 yourself, because you're going to end up with the same amount of money anyway. the straight cash benefits are, i think, the purest form is the charles murray plan in his book "in our hands," which is to give everybody, every adult american $10,000 a year and nothing else. this is affordable if you don't give it to the truly well -- wealthy. and i think that distinction does have to be made, because if you're giving $10,000 a year to millionaires and everybody in between, it does cost too much. but we haven't really tested this at all well, and i agree with you. michael has written a good deal about this. and some experiments on just giving people money and letting them make their own decisio

it was after all leaving for more because the university of chicago such as noble laureates milton friedman using simple rules of supply and demand who most forcefully pointed out the fragility of prohibition. this approach was ago by none other than one of latin america's most renowned and into his recent drug warriors, former mexican president lupe calderÓn took he acknowledged the failure of his own drug policies. the end of the term in 2012 he told "the wall street journal" the following, if the price of drugs goes up thanks largely to interdiction efforts and that demand is the same you will increased profits for your putting more incentives for participants in the market. he went on to say that it is clearly a textbook case for economic system which is the more successful you are, the more criminals you are creating. this is precisely what the world drugs have been doing for over 40 years. tom wainwright writes prohibition has driven up the price of a few cheap and cultural commodities trade of $300 billion global industry. and what a formidable industry drug trafficking has become. d

coupled with the corporate debt buying in the eurozone, coupled with the fed being in a box -- tom: milton friedman topline surprise. francine: what if the fed decides to move in june? is not bad. they are not concerned about china so much. what happens to emerging-market stocks and the tao or the s&p? tony: you have been ahead of the curve in terms of the brexit we find ite -- difficult to believe. when janet yellen raised rates in december, everybody on the planet new she was raising rates, and you ended up with currency and market dislocation anyway. i do not think that they are going to be willing to risk that one week before the brexit vote. i do not see them raising rates in june. francine: i tend to agree with you, but now you have eric hawkishn calling us a dove, whatever that means. tony: again, you had last week, lacquer talking about how brexit is figuring into the policy decisions. that is an important point, too. i listen to what janet yellen is saying. tom: 10 seconds. tony: i do not think it will be in the next 15 minutes. i think we will really ramp over the next -- tom: are you goi

in 1980, milton and rose friedman wrote open quote -- wrote "freedom to choose." much government can stifle opportunity. what if we get washington out of the way, then there is no limit to what we cannot accomplish will stop [applause] -- then there is no limit to what we can accomplish. [applause] sen. cruz: it is what allowed my dad to escape cuba and come to america with nothing. washing dishes, taking $.50 per day to wash dishes and today to be a pastor traveling the country. [applause] sen. cruz: it is what allowed my irish italian mother to become the first and her family to go to college. to smash glass ceilings by becoming a pioneering computer programmer. [applause] sen. cruz: it is what allowed my wife heidi -- [cheers and applause] [crowd chanting "heidi!"] sen. cruz: i may be biased, but isn't she going to make an amazing first lady? [cheers and applause] >> we love you, wisconsin! [crowd chanting "heidi"] sen. cruz: she is a loving mom and every day she is teaching our daughters that strong women cannot accomplish anything in the united states. [appla

structure is such, that people today are complaining about income inequality introduce them to milton friedmansions about capitalism to them, 40% of us were farmers didn't have discussions, and when we said, all men acquitted he equal talking about land gentry men of british ancestry didn't have that would include maria and withstand. >> principals that they envisioned are so important, and so strong, 240 years later we need to make sure, to respect those principles. >> i think we do as i say enduring, and the people who create change the people i feature in the book look at big issues i immigration, look at things like surveillance income inequality would say we have adhered to constitutional prepares even as we have gone forward you are mentioned reagan said to the court, i think the best courts are the courts that don't intervene get involved he govern lease the putting justice scalia on the court k president obama nominating merritt garland much more a living constitution that test of wills is very -- i think founding as if you would tune in say our values endure. >> i love this whole idea

in 1980, milton and rose friedman wrote free to choose. they explain that the american free enterprise system has been the greatest engine for opportunity and prosperity, that the world has ever seen. too much government can stifle opportunity. but if we get washington out of the way, then there is no limit to what we can accomplish. [applause] it is what allowed my dad to leave cuba and come to america with nothing, washing dishes making him $.50 a day to start a business and today to be a pastor traveling the country. [applause] it's what allowed my irish italian mother to become the first in her family to go to college, to smash glass ceilings by becoming a pioneering computer programmer. [applause] it's what allowed my wife heidi -- [applause] [chanting] [applause] i may be biased, but isn't she going to make an amazing first lady? [applause] >> we love you, wisconsin. [applause] mr. cruz: she is the child of missionaries, my best friend in the world, and she has become a successful business leader, a loving mother and every day, she i

eople ranging from milton friedman to ronald reagan and ed east -- meese but betly friedan who changed the vision marshall nd thurgood the lawyer who was first african-american supreme court who pushed against the idea of legal segregation specifically beginning in public with brown v board of on.ation and i could go the new york city police commissioner is one of my new of people who reshaped america but if you think about surveillanc surveillance, cameras, computers. statistical models of where and occurs, who perpetrates it and how we can predict and prevent it you say know who put this in play? bill bratton. down to this question. blueprint,stitution a a set of guidelines or harped and fast rules? guest: it is like steel. is hard and fast but it is flexible. when a storm comes there is give.and we were talking a moment ago about women and gays and fathers, human beings they had star status, in their day and time a vision of what was possible and created it. not have imagined where we would go today in so areas. so the constitution does have ome give and take in it, but remember ron

eople ranging from milton friedman to ronald reagan and ed east -- meese but betly friedan who changed the vision marshall nd thurgood the lawyer who was first african-american supreme court who pushed against the idea of legal segregation specifically beginning in public with brown v board of on.ation and i could go the new york city police commissioner is one of my new of people who reshaped america but if you think about surveillanc surveillance, cameras, computers. statistical models of where and occurs, who perpetrates it and how we can predict and prevent it you say know who put this in play? bill bratton. down to this question. blueprint,stitution a a set of guidelines or harped and fast rules? guest: it is like steel. is hard and fast but it is flexible. when a storm comes there is give.and we were talking a moment ago about women and gays and fathers, human beings they had star status, in their day and time a vision of what was possible and created it. not have imagined where we would go today in so areas. so the constitution does have ome give and take in it, but remember ron

they should be channeling milton friedman. they should be standing for limited government, but they don't. i mean, you can go back to the two terms of president george w. bush where we had a republican-controlled senate, a republican-controlled house. we doubled the federal debt, we slathered on government regulations, we created a new entitlement, we created a new government agency. we were not, we're not -- they're not governing as conservatives, and i think that's what's led to this situation now. >> host: when people talk about, colonel murray, constitutional conservative, what exactly does that mean? what's a real-life example of that? >> guest: well, i'm a real-life example of that. so i stopped calling myself a republican even though i am a conservative. i'm a constitutional conservative. and by that, it's very simple. i believe our constitution is something along the lines of our owner's manual for the nation. and you need to adhere to it. when i swore an oath as an army officer to support and defend the constitution,

in 1980, milton and rose friedman wrote open quote -- choose."o much government can stifle opportunity. what if we get washington out of the way, then there is no limit to what we cannot accomplish will stop [applause] -- then there is no limit to what we can accomplish. [applause] cruz: it is what allowed my dad to escape cuba and come to america with nothing. washing dishes, taking $.50 per to to wash dishes and today be a pastor traveling the country. [applause] is what allowed my irish italian mother to become the first and her family to go to college. to smash glass ceilings by becoming a pioneering computer programmer. [applause] sen. cruz: it is what allowed my wife heidi -- [cheers and applause] "heidi!"anting ] sen. cruz: i may be biased, but isn't she going to make an amazing first lady? [cheers and applause] >> we love you, wisconsin! "heidi" anding -- and bracket sen. cruz: she is a loving mom and every day she is teaching our daughters that strong women cannot accomplish anything in the united states. [applause] that is america. it i

in 1980, milton and rose friedman wrote open quote -- wrote "freedom to choose." much government can stifle opportunity. what if we get washington out of the way, then there is no limit to what we cannot accomplish will stop [applause] -- then there is no limit to what we can accomplish. [applause] sen. cruz: it is what allowed my dad to escape cuba and come to america with nothing. washing dishes, taking $.50 per day to wash dishes and today to be a pastor traveling the country. [applause] sen. cruz: it is what allowed my irish italian mother to become the first and her family to go to college. to smash glass ceilings by becoming a pioneering computer programmer. [applause] sen. cruz: it is what allowed my wife heidi -- [cheers and applause] [crowd chanting "heidi!"] sen. cruz: i may be biased, but isn't she going to make an amazing first lady? [cheers and applause] >> we love you, wisconsin! [crowd chanting "heidi"] sen. cruz: she is a loving mom and every day she is teaching our daughters that strong women cannot accomplish anything in the united states. [appla