they are all by adam smith. hi yet and friedman more than came spline sure that he would see himself as in the same tradition to get >> host: go ahead, professor. >> guest: one week to the good difference is one never saw themselves as a moral philosopher as well as an economist. they sometimes interesting things to say about morality and philosophy in certain ways. but smith's views i think integrate the study of human nature from a philosophical point of view of the study of human nature in a more empirical way more than the others do. let me just say a word about that if i might which also pertains to the question how you read the wealth of nations and the fury of moral sentiments together. there's one thing we haven't mentioned we might want to add and that is and the theory of moral sentiments smith makes clear that in order to understand the other human beings properly to supplies with them as he says we need to imagine ourselves into the situations and to that in great detail otherwise we would appreciate

adam smith society .net. a gentleman comes before both very much for being on book tv in prime time. >> guest: my pleasure. >> guest: thank you very much. >> host: we have two more hours of programming coming up tonight, and every night this week we are going to have one of life hour from eight to 9 p.m. eastern. we have to couple of books out of influence the american political system. tonight we looked at the wealth of nations with adam smith. friday night we are looking at silent spring by rachel carson written in the early 60's. we will have her biographer and another gentleman on to talk about silent spring and the will be friday night. now, tomorrow night we are having to current economic authors on to talk about the current economic situation, and the shlaes and dean baker from eight to 9 p.m. to take calls and e-mails and then on thursday night we will be talking about the afghanistan war that the to afghanistan authors, said the jones and mark moyer will be here to take calls and tweets. but two more

adam smith society .net. a gentleman comes before both very much for being on book tv in prime time. >> guest: my pleasure. >> guest: thank you very much. >> host: we have two more hours of programming coming up tonight, and every night this week we are going to have one of life hour from eight to 9 p.m. eastern. we have to couple of books out of influence the american political system. tonight we looked at the wealth of nations with adam smith. friday night we are looking at silent spring by rachel carson written in the early 60's. we will have her biographer and another gentleman on to talk about silent spring and the will be friday night. now, tomorrow night we are having to current economic authors on to talk about the current economic situation, and the shlaes and dean baker from eight to 9 p.m. to take calls and e-mails and then on thursday night we will be talking about the afghanistan war that the to afghanistan authors, said the jones and mark moyer will be here to take calls and tweets. but two more

us cabeen baker, are you a fan of adam smith? >> guest: we have all learned from adam smith just as we have from keynes. in terms of this idea of the division of labor comparative advantage, you know, one of the points i often make is that we often read this so selectively so we have this idea somehow we are going to be the smart people and get the labor from the developing world. that is nonsense because they are plenty of people in india and china who are every bit as smart as the player and the reason we tend to get the smart jobs is because they are smart people get congress to give them protection so it is easy for someone from mexico or developing countries come to the united states and work as a cabdriver or worked in restaurants or construction and very often off the books for code is very difficult for them to get a job as a doctor or lawyer so we have protectionism. we just tend to conceal it so i learned a lot from adam smith. i just wish more economists would learn from adam smith. >> host: richard from brooklyn, than

us cabeen baker, are you a fan of adam smith? >> guest: we have all learned from adam smith just as we have from keynes. in terms of this idea of the division of labor comparative advantage, you know, one of the points i often make is that we often read this so selectively so we have this idea somehow we are going to be the smart people and get the labor from the developing world. that is nonsense because they are plenty of people in india and china who are every bit as smart as the player and the reason we tend to get the smart jobs is because they are smart people get congress to give them protection so it is easy for someone from mexico or developing countries come to the united states and work as a cabdriver or worked in restaurants or construction and very often off the books for code is very difficult for them to get a job as a doctor or lawyer so we have protectionism. we just tend to conceal it so i learned a lot from adam smith. i just wish more economists would learn from adam smith. >> host: richard from brooklyn, than

institute, another one, which takes great inspiration from the teachings of adam smith. and they have provided quite extensive, sort of advice on the modalities of how the u.n. and the afghans are structured and i would be happy to provide you with those details. >> we ought to know now, more detail, and... i hope his reputation will at least allow us to understand that other people's money tends to go missing in places like afghanistan. and, we already pledged to contribute, our money, to a peace and reintegration trust fund. if that is anything more than the reassuring name, there must be trustees who we know and are accountable to you, or to somebody here, for the disbursement of this very large sum of money. and i think, by now, we've all agreed, and, published, and welcomed, i think, by now, we ought to know who these trustees are, to be. >> and now, i think, 24, 25 days after the announcement of the trust fund, so 24 days into a five-year program, so, i think, that we shouldn't believe somehow we have missed the bus on this, the trust fund has been set up, the purp

i think the muslims need adam smith, they don't need a listener. [laughter] if you look at european history, if you look at where the thrust of the originally arose and about the geneva or scotland and nearly protestants, scotland in the early reformation period would be something like the taliban couple. it was a highly puritanical rigid and intolerant place where children were executed for not observing religion properly. now what happened that this scotland became the seat of the industrial revolution that it produced such luminaries as david hume and adams met it wasn't because of a religious reformation but it was because of the rise of trade and commerce. was because of capitalism. it's capitalism that made the west in many ways into what is and it is capitalism that the muslim world in that sense requires. the class essentially drove this in the west was a middle class that was rooted in markets and was routed in commerce and trade. when i speak people often say there is a middle class in the arab world, there is a middle class or there is a

. >> i have a vision of adam smith rolling in his grave because not so much that you take the risk and lose a reward that is not the basic principle we are to have. what do you think is the role of the economist articulate and in government policy making positions helping you create those bad incentives but you describe how they miss seeing the global building and help create the bubble, greenspan. tell us a little about that. >> as i try to analyze who is to blame, unfortunately i have to say the economists come in, others of course, , but they play a role in a number of different ways. there were some economists pointing out markets don't always work the financial markets and things have consequences of their actions, other people for which they are not compensated. there is a lot of market fell years in we have bay much better understanding of those failures but the predominant view of economics guy rid of all of that. predominantly it was the servant of the financial markets and others who wanted and gained from the free-market ideology the nation -- the notion in markets where sel

. >> coming up tonight beginning at 8:00 cleve corner, the wealth of nations adam smith's book.what's the discussion about that? >> so we're going to look at adam smith's "wealth of nation" it was first published in 1887, it was often discussed in economic circles. we're going to try to get to an understanding of what the book is really about. we're going to be joined by samuel who is a professor at the university of illinois-chicago. we're going to be joined also by russell roberts who is at george mason university. we're going to look at two different aspects of smith's writing and how it's been interpreted throughout the years. >> we have been able to participate by phone calls and e-mails and tweets. >> that's correct. phone calls, e-mails, we have twitter followers. >> is there a specific hash tag to use? >> it's just at booktv. one word. >> let's take a look at the rest of the week. what's ahead on wednesday? >> wednesday we're going to look at the current economic situation. we're going to be joined by ann and she's also a author of the book called the "forgetten man" it'

laughter] i got more appreciation for this than what i did, but i've read various economists eloquent, adam smith or david ricardo or canes and all of that. i never have heard of more eloquent statements that six simply summed up the economic world that george bush made in september i think 2008 when he said in a memorable ten words if money doesn't loosen up this sukkur can go down. [laughter] that was like the gettysburg address, short but to the point. [laughter] and as i read the book i got appreciation for the fact that he understood what was going on and he understood what needed to be done. was there every time you went to him with proposals that he shot you down on? >> no because he wasn't -- he was always surprised when i was surprised. and i was surprised more than once. >> what was the biggest surprise? >> i would say that i spoke to him -- one of the fleet as i learned from my previous career is no matter what you negotiate i can have all kind of understandings about the relationship we would have but if i didn't have the right relationship with president it wouldn't be his fault, it

sunrise -- reminds me of king richard the third, now is the winter of our discontent -- remember what adam smith said, steve, supposedly the first capitalist. when the economy ties itself to financial capitalism it is on its way to ruin. thanks a lot, steve, for taking my call and have a wonderful day. keep shining that sun. host: kingston, and illinois, sue on our republican line. caller: hi, i'm sue. i am a republican and i'm very upset with other republicans because i think the president is perceived -- it is because the culture. i have to tell my six-year-old son that we cannot be proud of the founding fathers because they are slave owners and land steelers but he said, but mom, isn't that wrong, can we be proud of the founding fathers? i said, nope. i have been indoctrinated -- i have to tell them it is wrong to be proud american. i'm sorry. host: freeport, illinois honored democrats landed it is it fair to perceive the obama administration as anti business? caller: i appreciate the opportunity to call in its morning. what essentially has happened is over the years the big business has crea

in fact, you know, i have read various economists eloquent ones, adam smith or david ricardo. but i really have never heard a more eloquent statement that systemically summed up the economic world that george bush made in september i think of 2008, when he said in the memorable 10 words, he said if money doesn't loosen up, this sucker can go down. [laughter] >> tell us -- i mean, you know, it was like the gettysburg address. short go to the point. [laughter] >> as i read the book, i got an appreciation for the fact he understood what was going on and he understood what needed to be done. was there ever a time you went to them with proposals that he shot you down on? >> no. because he was -- he wasn't -- he was only surprised when i was surprised. and i was surprised more than once. >> what was the biggest surprise? >> but i would say that i spoke to him, one of the things i learned from my previous career is no matter what you negotiate, i can have all kinds of understandings about the relationship we would have, but if i did have the right relationship with the president, it

tuesday night join the discussion of adam smith the wealth of nations. c-span hosts samuel fleischacke and russell roberts. then wednesday, a look at the global economy today .... >> talks about his efforts at transfer his waste generating commercial carpet company into one with no environmental footprint by the year 2020. barnes & noble booksellers in atlanta is the host of this event. it is about 45 minutes. >> a lot of interface people here will pack the audience. thank you all for being here. just did brief introduction. in 1994, 15 years ago, i challenged the tiny task force of interface people, 16 or 17 people, to lead our company to sustainability. which we defined as operating our petroleum intensive company in such a way as to take from the earth nothing, not naturally and rapidly renewable by the earth, and to do no harm to the biosphere. take nothing, do no harm. in other words, zero footprint. we eventually chose 2020 for the target year to reach zero footprint. here we are 15 years into that journey of a 26 year long journey, to 2020, and we

. >> host: i have this vision has always reading the first half of the book of adam smith, david ricardo sort of rolling in their graves because it's not supposed to work to take the risk and lose and are rewarded. that is not the basic principle we are supposed to have an capitalism so i'm wondering what you think the will of economists, people in your own profession and government policy-making positions was in helping to create those that incentives but also you describe a lot about how they missed seeing the bubble building. they helped create the bubble -- greenspan. tell a little bit about that. >> guest: as i try to analyze who is to blame which of course is the question everyone wants to know. unfortunately i have to say economists come in for some share, other economists of course, but they played a role in a number of different ways. there were some economists doubt were pointing out markets don't work particularly important financial markets and externalities' where people have, for which they are not compensated, they are pollution an example so lots of market failures as we

. >> host: and i have a vision as i was reading the first half of the book of adam smith and david ricardo rolling in their graves because the way -- it's not supposed to take the lead to work you take the risks and lose. that's not the basic principle we are supposed to have in capitalism. so i'm wondering what you think the role of economists -- people in one profession particularly government policy making provisions was in helping degette pos bet incentives but also you describe a lot about how they missed seeing the the bubble building, they helped create the bubble, greenspan. tell us a little bit about that. >> guest: as i try to analyze who is the blame which is the question everyone wants to know, unfortunately i have to say economists come for some share, other economists of course. but they played a role in a number of different ways. there were some economists that were pointing out markings don't always work, there are problems of information particularly important in the financial markets and fiscal externalities' where people have that consequences of their action affects ot

you're really talking about a system and a% for a life and for a society, and at some level, not adam smith, because if you read the wealth of nations, he doesn't talk like this, but some of the modern free market fundamentalism has tried to act as if -- excuse me, if you are in the marketplace, you are therefore virtuous. and i think that that's just -- that's an over simplification, people like jim wallace have to challenge now and probably no better place, he's a theologian, so probably no better place than religious teachings. gary dolian has written a terrific book, and i think examining the social gospel movement of the early 20t 20th century and their sense of social purpose can help us have the conversation on values. how you pit that against what you might call the hubris of money, and particularly large, large, kind of money that supports stars and financiers -- that sports stars and other financiers have to make, we have to talk about social psychology and bring some psychologists to the table. >> we at cap think about the art of the progressive movement and at the earlier part o

tuesday night, join the discussion on adam smith, the wealth of nations. c-span host author samuel and russell to talk about the impact of the american economist work. >> coming up next, booktv presents afterwords, an hour-long discussion between the guest host and author of the new book. this week garry wills, discusses "bomb power" which looks at how the creation of the atomic bomb increases the president and transformed the u.s. into a national security state. he discusses his book with tom blanton, director of the national university archive in washington, d.c.

the fact that the uniqueness of the american economics system has a lot to do with more of the adam smith invisible hand bottom up that the chairman of our federal reserve would express some concern about the expansion of government ownership and controls of large sections of the private sector, economy, and knowing that at some point there is a tipping point at some point where we no longer function as a free market economy. i'm not sure if we've gone past that or not, but my concern and alarm is that you have not expressed any concern or alarm of the need for congress to look at ways to the best these thing to try to move things back in that direction. is that not a concern? or is your focus just not -- your focus is what you have to do with what you've got to work with, and that's just not your area. >> senator, i have a lot of things to talk about so i can't cover everything of concern. let me talk about the financial sector and i think they are, that returning to a a market oriented financial sector is a top party. and we are in fact doing that. for example, all the big banks have no

adam smith books. what's the discussion about that?>> bill, we're going to look at adam's smith wealth of nations. this book was first published in 1776. we're going to try to get to an understanding of what the book is really about. we're going to be joined by samuel who is a professor at the university of illinois-chicago. we're going to be joined also by russell roberts who is at george mason university. they are going to look at two different aspects of the writing and how it's been interpreted. >> and our viewers will be able to participate by phone calls and e-mails, and tweets; correct? >> that's correct. we now have other 9,500 twitser followers. >> is there a specific tweeter hash tag? >> it's just booktv, one work. >> what's ahead on wednesday, for example? >> wednesday we're going to look at the current economic situation. we're going to be joined by a senior fellow at the council of foreign relations. it's also author of the book called "the forgetten man" the history of the depression. we're also going to be joined by dean

coressman adam smith is among those moderates and should be congratulated. straight ahead and coming up straight ahead right now, who bett to wait on the health care summit than michael gerskin, a forme debate and speechwriter who wrote a great editorial yesterday. he'll join us live. >> a congressman charlie rangel finally paying the piper? it was a late night news conference. we'll have it for you when we come back. it's mday, some people will stick with their old way of getting vitamins and minerals. others will try incredible total raisin bran. with 100% of the daily value of 11 essential vitamins and minerals, juicy raisins and crunchy whole grain flakes. guess it's all about what kind of crunch you like. how are you getting 100%? >> didn't catch the heated exchange at the seven hour white house summit yesterday, here are me of the highlights. >> at this point, john, because we're not campaigning anymore. the election is over. >> i'm reminded o that every day. >> well, that's the 2400 page health care bill. is that right? >> wel actually, mr. president,

last night we talked about adam smith and wealth of nations tonight we are talking about the currentituation. tomorrow night we will be discussing the afghanistan war with two authors and then friday night we will be discussing silent spring and rachel carson's book from the early 60's. ditty in washington, you are on with dean baker and amity shlaes. >> caller: thank you for your program. appreciative of people in our country that are addressing the concerns we all have. the current topic is the economic situation, and i've got kind of to question comments. sorry. one has to do with tea parties. i think that when amity brings up with a problem in politics and the united states in general one of the things that upsets me so much is the idea that no taxes, agreed and copping out citizens in terms of the responsibility contributing to and managing the cost seems to be rising especially with the two-party and right-wing republicans side and i think that is pretty shameful. i wanted to hear a comment about that because i know that relative to other western countries again the tax base pe

. >> host: i have a vision of adam smith and david ricardo sort of rolling in their graves.ecause the way it's not -- it's not supposed to work that you take the risks that you lose and are rewarded. people in your own profession particularly in government policymaking professions you describe how they missed seeing the bubble building. they helped create the bubble. greenspan. tell us a little bit about that. >> guest: well, as i tried to analyze who's to blame which is the question everyone wants to know, unfortunately, i have to say the economists come in for some share -- other economists, of course. but they played a role in a number of different ways. there were some economists that were pointing out markets don't always work. that there are problems of information particularly important in financial markets. there are things that have consequences of their actions affects other people for which they are not compensated. pollution, for example. there are a lot of market failures as we call it. and we've gotten a much better understanding of those market failures. but,

sunrise -- reminds me of king richard the third, now is the winter of our discontent -- remember what adam smithteve, for taking my call and have a wonderful day. keep shining that sun. host: kingston, and illinois, sue on our republican line. caller: hi, i'm sue. i am a republican and i'm very upset with other republicans because i think the president is perceived -- it is because the culture. i have to tell my six-year-old son that we cannot be proud of the founding fathers because they are slave owners and land steelers but he said, but mom, isn't that wrong, can we be proud of the founding fathers? i said, nope. i have been indoctrinated -- i have to tell them it is wrong to be proud american. i'm sorry. host: freeport, illinois honored democrats landed it is it fair to perceive the obama administration as anti business? caller: i appreciate the opportunity to call in its morning. what essentially has happened is over the years the big business has created a big ghetto in america. whether it is greed or whatever it is, businesses have recently taken the money out of the country from the peop

eastern, a live discussion on the adam smith book "to the wealth of nations" with a george mason economicsher professor. we'll take your phone calls and e-mails this week. for other programs on "book tv, check the website. it is the only collection of american presidential portraits painted by one artist. "american presidents" by a renowned artist. see the entire series on the website on your screen. this week, our guest is the head of citizens united, and the producer of "hillary" the movie, the subject of the recent supreme court decision on campaign financing. >> on january 22, the president of the common cause group wrote to the following, "thursday was a bad day for democracy. to the supreme court's decision and citizens united versus the federal election commission paved the way for unlimited corporate and union spending on elections and the drowning out of the average citizen's voice in our public policy debates. what is your reaction?

. >> host: i have this vision as it was reading the first of the book of adam smith and david ricardosort of rolling in their graves because the way, it is not supposed to will work that you take the risk in the luzhin your report. that is not the basic principle we are supposed to have an capitalist and so i'm wondering what you think the role of economists, people in your own profession particularly government policymaking position was in helping to create those bad incentives but also you describe a lot about how they missed seeing the plowable building, they helped create the bubble, greenspan. tell us a little bit about that. >> host: as i have tried to analyze who was to blame which of course is the question everyone wants to know, unfortunately i have to say the economists come in for some share, other economists of course. but, they played a role in a number of different ways. there were some economists that were pointing out markets don't always work, that there are problems with information particularly important financial markets. there are things called externalities' wher

and it was adam smith to well over 200 years ago said that if the public sector does its job well, thenhe other will be able to do what it does best. in the public sector is providing the transportation needs, the water system support, the aviation requirements, the planning for economic development long-term. and then the private sector, relying upon that and relying on those foundations, will be able to invest for the long term. so for each of the agencies represented here, thank you for the work you've done. thank you for keeping faith with the recovery act, with the stimulus spending to congress and the president have provided. keep it going. take the lessons learned. apply them for the future. not only for the stimulus, but for the standard regular programs. and we will revisit this issue in another four or five weeks. i'll just close with one phase of recovery. last august, i went to visit a project, i 35, southern tier of my district between north branch and russian city. granted, i'm sorry, knife river. knife river construction was doing 28 lane miles, four lanes, seven miles. i

. >> i have this vision as i was reading the first half of the book of adam smith and david ricardo swordof raleigh in their crazed because it is not supposed to work they take the risk and you lose and you are rewarded. that is not the basic principle we are supposed to have an capitalism so i am wondering what you think the role of economists, people in your own profession particularly in government policymaking positions was in helping to create those bad incentives but also you describe a lot about how they miss seeing the bubble building. they helped create the bubble, greenspan. tell us it little bit about that. >> guest: well, as i tried to analyze who was to blame which of course is the question everyone wants to know, unfortunately i have to say the economists come in for some share, other economists of course, but they play a role in a number of different ways. there were some economists that for pointing out markets don't always work, that there were problems with the information, particularly in financial markets in their things called externalities' where people have the cons

. >> host: i have this vision as it was reading the first of the book of adam smith and david ricardosort of rolling in their graves because the way, it is not supposed to will work that you take the risk in the luzhin your report. that is not the basic principle we are supposed to have an capitalist and so i'm wondering what you think the role of economists, people in your own profession particularly government policymaking position was in helping to create those bad incentives but also you describe a lot about how they missed seeing the plowable building, they helped create the bubble, greenspan. tell us a little bit about that. >> host: as i have tried to analyze who was to blame which of course is the question everyone wants to know, unfortunately i have to say the economists come in for some share, other economists of course. but, they played a role in a number of different ways. there were some economists that were pointing out markets don't always work, that there are problems with information particularly important financial markets. there are things called externalities' wher

[applause] >> john adams, a 24-year-old lawyer in quincy, probably met the teenager abigail smith for the first time in the summer of 1759. he was unimpressed. not fond, not frank, not candid was the overall assessment in his diary. what changed between them and when we don't really know but by the time of their first letter, something certainly had. >> braintree, october 4th, 1762. missed a adorable. by hear the bearer here of sat up with you last night i hereby order you to give him as kisses and as many hours of your after 9:00 as she shall please to demand and charge them to my account. i plume i have -- presume i have good right to draw on you for the kisses i have given two or three million at least and one received. as consequence the account between us is immensely in favor of yours. >> thus begins the correspondence of a remarkable american couple that spans some 40 years and over 1100 surviving letters. no doubt more were written but we can only guess how many were captured by the british, sunk in shipwrecks or even simply lost by late generations. what remains tells the sto

adam corman. but they were found to be the victims of identity fraud. the working assumption is israel was involved. the israeli ambassador was summoned to parliament had for a meeting with the ambassador, stephen smith, where he was warned that the relationship could be damaged. the meeting followed the stern rebuke from the australian prime minister, kevin rudd. >> as a longstanding friend of israel, i repeat what i said before. any state, in the states which uses or forges australian passports, let alone uses or foes australian passports for the purposes of assassination, is of the deepest concern to australia, the deepest concern to australia. and we will not let the matter rest. >> given the close relationship between australia and israel, the diplomatic language was uncharacteristic the robust. >> i made it crystal clear to the ambassador that if the results of that investigation causes to come to the conclusion that the abuse -- cause us to come to the conclusion that the abuse of austlian passports was in any way sponsored or condoned by israeli officials, in australia would not regard that as the act