know the central bankers invisible hand envy in other words the invisible hand as described by adam smith you don't need central bankers you don't need tapering you don't need print thing as such. and it's a beautiful it's kind of a bit coin of a day you know from two hundred and two hundred forty or years ago or so that was the point of its time the enlightenment that i'm smith but then central bankers got very envious of the fact that there was something so beautiful perfect as the as the invisible hand so they started to degrade it and they come up with this new command and control central bank model that of course is utter failure well that's interesting because of course adam smith looked at nature and when he wrote wealth of nations and you look at nature to devise a perfect balance market and because nature. destroy anything that's weak or bad so all of these enterprises that we've propped up all these banks they would have been destroyed ruthlessly i mean it's difficult to watch those nature documentaries where the lion eats the port isabel but that's what's got to happen in this

. >> the worst apology ever, adam, smith was the guy harassed a girl at chick-fil-a. this is awful. and he lost his job. i don't condone but did enjoy it. a year of big deal that's weren't real. and who can for get the girlfriend that died while not existing. then, university of wyoming student who reported some evil right winger posted rape threats on a school facebook page this, garnered national attention. only problem is that it's later determined the girl posted it herself. other colleges and there is a lesbian waitress claiming a family left her a homophobic note instead of a tip the family produced a statement saying they left the tip. and morales was fired. >> yes. >> all right. there is so many hoaxes. that seems like there are, it's not an industry of hoaxes if you will. may i coin a phrase? >> coin a phrase >> i forgot what it was >> i don't like they do it this girl did it with the lion on the family? then, he find out they have to go through receipts today come back and going back to this place? that made me angry. because people goring through persecution for being a l

you know, adam smith, the political editor of the "tampa bay times." for having me. >> adam, how important is this particular special election? and why should all the folks snowed in right now in these other place around the country, why should they care what's happening? >> the temperature here has plummeted to 70 degrees. >> stop, stop! >> there are so few truly competitive house districts in the house. and this is really a truly swing district. 50/50, barack obama won it twice by about a point. rick scott lost it in the last governor's race by about a point. so this really is a district that is competitive as you get. and if the democrats want to have any argument that they can take back the house, if they can't win this seat, it's hard to make that argument. >> so if they win this seat, then does this become the sort of poster child of, we can win, that allows them to raise money for other congressional races, for the year? >> sure. i think they'll capitalize heavily on that. and this is not an easy seat for them to win, but they do have, alex sink

of supply and demand that's not what you'd expect to read in the pages of wealth of nations by adam smith i mean this is this is a an empire that's collapsing that's relying on manipulation of propaganda now i want to touch on something we talked about in london a couple of years ago i brought your attention and at that time you were very curious about it but now it seems as if you've gone full fledged you know supporter this is very interesting because of the gold crowd seems split some are for it some are not talk about it the talk of of course. about bitcoin paul krugman recently came out and said bitcoin is evil all so if he hates it we know that's probably a good thing. and they start i saw the financial times said that going to be under fifty dollars sometime in the near future which obviously is in my view it's not going to happen yeah you're absolutely right i was a little bit skeptical about bitcoin in the beginning but i'm actually a believer in it now and i do own some bitcoin and the reason why on it is i think it's the technological investment and it accomplishes what we trie

adam smith made himself famous by showing that the economy is not a zero-sum game. that both sides believe they gayness or exchange. >> these people tend to think that they know better. >> thank you. if you'd like to keep this conversation going, go on facebook and twitter and use that hash tag class warfare and let people know what you think. and coming up, hw much money does anyone need? many americans hate rich businessmen. but they really hate celebrities on the red carpet. ose that are just as rich. >> is the trendy mind that they make millions of dollars? >> >> maria charcot but is the biggest earning female athlete in the entire world. 23 million in endorsements. john: does itbother you that she took home more? she makes the most money because she is a ood-looking blonde. how unfair is that? and theyaccept that movie stars and singers make movies to. >> the money that they make millions of dollars? >> i doesn't occur to me. ds it bother you that tiger woods made $70 million? >> it doesn't bher me. >> does it bother you that some ceos make aliens when others d

adam smith made himself famous by showing that the economy is not a zersum game. that both sides believe they gayness or exchange. >> these people tend to think that they know better. >> thank you. if you'd like to keep this conversation going, go on facebook and twitter and use that hash tag class warfare and let people know what you think. and coming up, how much money does anyone need? many americans hate rich businessmen. but they really hate celebrities on the red carpet. those that are just as rich. >> is the untrendy mind that they make millions of dollars? they make millions of dollars? >> hey check it out hey get that sign back up ♪when it gets cold and it feels like the end♪ (sndfx: clapping) ♪there's no place to go you know i won't give in♪ (sndfx: clapping) ♪no, i won't give in ♪keep holding on ♪caues ya know we'll make it through♪ of the dusty basement at 06 35th street the old dining table at 25th and hoffn. ...and the little room above the strip mall f roble avenue. ♪ this magic momt it is the story of where every great idea begins. and of those o b

adam smith made himself famous by showing that the economy is not a zero-sum game. that both sides believe they gayness or exchange. >> these people tend to think that they know better. >> tnk you. if you'd like to keep this conversation going, go on facebook and twitter and use that hash tag class warfare and let people know what you think. and coming up, how much money does anyone need? many americans hate rich businessmen. but they really hate celebrities on the red carpet. those that are just as rich. >> is the untrendy mind that they make millions of dollars? >> [ male announcer ] this is the story of the little room over the pizza place on chestnut street the modest first floor bedroom in tallinn, estonia and the southbound bus barreli down i-95. ♪ this magic moment it is the story of where every great idea begins. and of those who believed they had thpower to do more. dell is honored to be part of some of the world's great stories. that began much the same way ours did in a little dorm room -- 2713. ♪ this magic moment ♪ >> maria charcot but is the biggest ea

adam smith made himself famous by showing that the economy is not a zero-sum game. that both sides believe they gayness or exchange. >> these people tend to think that they know better. >> thank you. if you'd like to keep this conversation going, go on facebook and twitter and use that hash tag class warfare and let people know what you think. and coming up, how much money does anyone need? many americans hate rich businessmen. but they really hate celebrities on the red carpet. those that are just as rich. >> is the untrendy mind that they make millions of dollars? >> no, i just like watching him. dentures are very different to real teeth. they're about 10 times softer and may have surface pores where bacteria can multiply. polident kills 99.99% of odor causing bacteria and helps dissolve stains. that's why i recommend polident. [ male announcer ] cleaner, fresher, brighter every day. open to innovation. open to ambition. open to boldids. that's why n york has a new plan -- dozens of tax free zones all across the state. move here, expand here, or start a new busine

adam smith made himself famous by showing tt the cono is not a zersum game. that both sides believe they gayness or exchange. >> these people tend to think that they know better. >> thank you. if you'd like to keep this conversation going, go on facebook and twitter and use that hah tag class warfare and let people know what you think. and coming up, how much money does anyone need? many americans hate rich businessmen. but they really hate celebrities on the red carpet. those that are just as rich. >> is the untrendy mind that they make millions of dollars? welcome back. how is everything? there's nothing like being your own boss! and my customers are really liking your at rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order. good news. i got a new title. and a raise? managementouldn't make that happen. [ male announcer ] introducing fedex oneate. simple, flat rate shipping with the reliability of fedex. >> maria charcot but is the biggest earning female athlete in the entire world. 23 million in endorsements. john: does

control central bank model that of course is utter failure well that's interesting because of course adam smith looked at nature and when he wrote wealthy nations and you look at nature to devise a perfect balance market and because nature. destroy anything that's weak or bad so all of these enterprises that we've propped up all these banks they would have been destroyed ruthlessly i mean it's difficult to watch those nature documentaries where the lion eats the port isabel but that's what's got to happen in this in the financial system now there's room for you know mutations that evolve to become the new standard and that's part of what you should see in an economy so here in the u.k. the small to medium enterprises are not allowed to thrive because a bank like r.b.s. finds and got some strips sells off the pieces and devours them because they're a predatory monopolist or not a free market capitalist yeah but nature would say that if you're just going to favor the lions on the serengeti if you're only going to allow the lions and you like those the best because they're the most ruthless then l

so it's funny because adam smith and karl marx and and we george all agree on that point all day emphasize that to different degrees. right but it but but go on the capitalism critique of what he said about that as fact that well. it's not. would i guess in a way it's it's not a last ditch but it would certainly be a way of saving capitalism from imploding because of the extreme wealth and i could be that we see that causing a destabilization all over the world. you know oxfam just came out with this report that eighty five people have as much wealth as the bottom half of humanity three and a half billion this is an untenable and sustainable situation and causes revolution riots and even when it's not doing that it's just an efficient and. unsustainable so we say the reason that there is so much wealth so concentrated primarily is because of when operating on land now within our georgia g.o.'s community we also argue about monopoly on money and whether that should be included and happily george also agreed that money should not be the exclusive creation of banks he said it was too importan

after this has been a disaster for the american people that is impoverished our nation because as adam smith pointed out the wealth of nations is in large part what they manufacture public citizens global trade watch us. mates that nafta alone as lead to a net loss of around one million jobs here in the u.s. many of them the kind of good manufacturing jobs that helped americans rise into the middle class throughout the twentieth century the trans-pacific partnership would be even worse a treaty has been negotiated entirely in secret with the help of about six hundred so-called corporate advisors we do know little about it thanks to organizations like wiki leaks wiki leaks has been releasing a steady stream of p.p. documents over the past few months and those documents paint a pretty scary picture of the tepee would be a big pharmaceutical companies virtual monopoly patent lawyers like corporations sue countries in international courts or regulations that those corporations don't like and got environmental and financial these leaks prove that many way prove what many critics of been saying fo

of supply and demand that's not what you'd expect to read in the pages of wealth of nations by adam smith i mean this is this is a an empire that's collapsing that's relying on manipulation of propaganda now i want to touch on something we talked about in london a couple of years ago i brought your attention and at that time you were very curious about it but now it seems as if you've gone full fledged you know supporter and this is very interesting because of the gold crowd seems split some are for it some are not talk about it the talk of course i'm talking about bitcoin paul krugman recently came out and said bitcoin is evil all so if he hates it we know that's probably a good thing. and they start i saw the financial times said that bitcoins going to be under fifty dollars sometime in the near future which obviously is in my view it's not going to happen yeah you're absolutely right i was a little bit skeptical about bitcoin in the beginning but i'm actually a believer. in it now and i do own some bitcoin and the reason why on it is i think it's a technological investment and it accom

. >> they don't get it, although adam smith made himself famous by showing that the economy is not ao sum game, but that both sides, at least believe they gain through exchange. >> and unless they both win, the trade doesn't happen because it's voluntary. >> exactly. these people tend to think that they know better, and that if they were at the helm, everything would work out fine, and it never does. they know that they are smarter than anybody else. they're the guys at harvard, at the kennedy school of government and so on. they know, and whoever challenges them, the prestige is supposed to speak miles and miles. and it's all a crock. >> if you had to choose between equality and liberty? >> it's no contest. >> thank you be tibor mccann. if you'd like to keep this conversation going, go on facebook or twitter, use that hash tag, class warfare, let people know what you think. coming up, how much money does anyone need? many americans hate rich businessmen. but i notice they rarely hate celebrities on the red carpet, who are just as rich. >> do you mind that they make millions of dolla

. >> adam smith made himself famous by showing that the economy is not a zero sub gain. at least they left the gain through exchange. >> once they win the trade it is voluntary. >> these people tend to think they know better. if they were at the helm everything would work out fine. it never does. they know that they are smarter than anybody else. they are the guys at harvard and kennedy school of government. whoever challenges them the prestigious go miles and miles. it is all a crock. >> if you had to choose between equality and liberty? >> it is no contest. >> thank you. if you would like to keep this conversation going go on facebook or twitter. use the hash tag class warfare let's people know what you think. coming up how much money does any one need. americans hate rich businessmen, but i notice they rarely hate celebrities on the red carpet who are just as rich. >> do you mind that they make millions of dollars? >> no, it hasn't occurred to me i just like watching them. start the engine... and shift through all eight speeds of a transmission connected to more stand

and adam smith free enterprise are? never. say but if i catch myself, i know that is wrong. people try not to do it dur. i am who i am. i grew up and sent cisco i went to a public house cool -- a public high school. i'm from california. the new york times has the dialect. says, you try it. it touching where you are from. tells you where you are from. it picked cities and they were fresno and bakersfield. i have the background i have. by the time we reach a certain age, have views about our profession. where does law fit in? ford's law about? -- what is law about? openyou get to the big constitutional questions, that plays a role. what is the freedom of speech? 14th amendment? equal protections of the laws? no deprivation of life, liberty, or property? those words don't explain themselves. by the time they reached the supreme court, there are good arguments on both sides. backgrounderson's and how he sees the law or how butr she has developed -- then it could not be avoided and that is why these terms last a long time. different presidents with different views of point differ

adam n. smith was the guy that harass ted the girl at chick-fil-a.minute video of an apology. an awful apology. he lost his job. >>> it was a year of big deals that weren't real. i speak of hoaxes. who can forget lan na who was the girlfriend of manny te'o. then there were the campus hoaxes like meg lanker simon who reported that some evil right winger posted rape threats. the only problem, it was later determined that the girl posted the message herself. at other colleges, hate speech crimes were later found to be perpetrated by students. finally, there was dana morales, the lesbian waitress. the family produced a credit card statement showing that they had left a tip and morales was eventually fired. >> yes. >> all right. >>> there's so many hoaxes, sherrod. it seems like now it is an industry of hoaxes, if you will. >> may i coin a phrase? >> i forgot what it was. >> okay. everybody pulls a hoax. i don't like when they do it, this girl who did it with this family. then they find out they have to go all the way through their receipts and come back.

but when e headway reagan won the election and all the y reaganites with their adam smith ties and all those california ight wingers came in and said no more talk of raising taxes, the deficit will take care of itself, we won the election. i said that is it for me. the best i could for one more budget cycle and got out of there. host: raising taxes. what is -- you are shaking your head. . i think that is guest: that is a great clip era has, i reagan for what a lesson we're facing now. ronald reagan came into office in 1981, cut taxes dramatically. and then cut them a little too much because for what we're facing deficits grew and to raise taxes in 1982 and 1984. then since tax cutting was off the table, republics looked to tax reform as their mantra, fiscal policy. i think that is what you are seeing right now. is really ing there no more for any additional tax uts so the republicans' attention is shifted to tax reform that. s where they will focus the next few years. host: either the democrats or the republicans do a to raise t taxes? opinion on uest: well, i think they both do a lous

so, and, you know, adam smith and david hume, and i can go through a whole list of them. modern day, i guess i would say that people consider them philosophers, sort of milton friedman, high yak, men of that -- hayak, men of that sort. and there are many others, i'm sure i can't remember them all. not one in particular, but all together. and by the way, the framers were well read on -- obviously, not men who didn't exist at the time, but many of the men at the time and before their time who did exist, they were well of informed about the enlightenment, about what had taken place before history. you look at jefferson, the declaration of independence borrows heavily from locke's second treatise on government. the constitution borrows heavily from montasgue's laws. these are the philosophers and others, many others, who should be the focus of our educational system, who should be the focus of our public discussion. but i fear other than a very small percentage of the population, most people have never heard of them and certainly don't know much about them. so i try to do my

adam smith, political guru in the state of florida at the "tampa bay times."k. >>> trivia time, hawaii sent the highest percentage of minority represent is to the house in 2012 with 100%. we'll be right back. ♪ [ male announcer ] old el paso frozen entrées. now in freezers. the day building a play set begins with a surprise twinge of back pain... and a choice. take up to 4 advil in a day or 2 aleve for all day relief. [ male announcer ] that's handy. ♪ and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. >>> well, time for today's takeaway. it's another hollywood tale based on real-life politics. "american hustle" scored three golden globes. it was inspired by

i believe and adam smith agrees that is an important role for the federal government. not to do it all, but to make sure we are in partnership with local governments to make sure we connect the country. president eisenhower said it best. without the unifying force of transportation, we would be an alliance of separate parts. transportation is what physically connects the country. it is critical to our competitive this and keeping america prosperous. resources of water element act. we are in conference with the senate did it is slow going. i feel confident we will move forward. i was able to travel to south carolina. mayor riley was instrumental in talking to us about this. talked to mayor foster. as we traveled around the country getting input from mayors was critical to helping us develop this bill. to talk totunate enough stakeholders and get them to talk to their members of congress did it passed out of the house with only three opposed. say it waso bipartisan approval. i think we were able to get to the core issues of making sure it was fiscally responsible and ref

so, for example, in adam smith -- everyone has read the opening paragraphs of "wealth of nations" where he extols the wonders of the division of labor, but not many people have gotten farther inside to read his bitter condemnation of division of labor and his insistence that in any civilized society, the government will have to intervene to prevent it because it will destroy personal integrity and essential human rights. it will turn people, he said, into creatures as stupid and ignorant as a human can be. it's not too easy to find that passage, whatever the reason may be. if you look in the standard scholarly edition, the university of chicago bicentennial edition, it's not even listed in the index. or but it's one of the most important passages in the book. looked at in these terms, anarchism is a tendency in human development that seeks to identify structures of hierarchy, domination, authority and others that constrain human development. and then it seeks to subject them to a very reasonable challenge; justify yourself, demonstrate that you're legitimate, and maybe in some special c

hank smith. adam: we have the details on jpmorgan's payraise. the rays were stores most of diamonds pay cut from 2012 following the london whale scandal. lori: new warnings. fbi reporting that retailers need to prepare for more credit card breaches and cyber attacks. the fbi says risks will continue to grow in the near term. adam: big losses for herbalife. they are meeting with some of the companies critics. herbalife targets poverty-stricken immigrants. th against fraud claims including claims against bill ackman. lori: what does it all mean for the budding weed industry? rich edson is on the story. >> attorney general eric holder says the federal government is trying to make it easier. speaking of the university of virginia, holder says we are in the process of working with our treasury department. you do not want just huge amounts of cash in these places. you want to be able to use the banking system. officials are discussing options for providing clarifying guidance to the bank industry. there are still concerns that it will not go far enoug

when adam smith more or less invented capitalism, he did not say it was a perfect system. think it is better than other systems, but every system has imperfections. many peopleallows to make a lot of money, but many of them are philanthropic. you cannot be buried with wealth, and many people realize that. we need to make sure that research and development, education, things that people come up from the bottom, as i did. it is possible to rise up in our system. >> there is a lot of pressure for banks, for example, to pay employees less, and many have said that i will go work for david rubenstein. bank unfortunate that the -- that the money did not go from banks to teachers? >> you could always cite examples of how the world could weretter off if teachers paid more money, but the system is what it is. probably the highest paid people should be interviewers on bloomberg. >> agreed. >> i cannot change the system overnight. i have to work slowly to convince people that teachers and public servants deserve higher salaries, but i do not think we should say the whole system is bad

adam smith is not taught. >> the moral dimension of this is not spoken to.'s a moral case of capitalism and free market and very few on the conservative side actually make the moral case, liberals always try to cast their socialist policies in a moral -- and emotional -- stuart: welcome. >> young people hate poverty. best way to eradicate poverty is a free-market capitalism, raising standard of living and if you look at the iphone, we started to get cellphones when they were huge nextel razors, in our lifetime we have seen innovation and i phones and young people are like my standard of living did get better because of trade and capitalism and innovation and that is the way to reach out to younger people. stuart: remember -- >> this big, my dad had one. got to punch it in but now everything, the cds, all in one device is revolutionary. stuart: when i went to college there was no such thing as a computer, a fax machine, a cellphone. that was what it was like in my day. >> for all those things, that is the message. stuart: did he caput off nicely? welcome back

and commerce and establishing post roads truly, and i think adam smith even agrees, that's an essential role for the government, especially the federal government. not to do it all, but to make sure we're in be partnership with the states and the local governments, to make sure that we connect this country. and president eisenhower i think said it best, that without the unifying force of transportation, we would be a mere alliance of separate parts. so the transportation is what physically connects this country. it actually is critical to our competitiveness in the world and to keeping america prosperous. as was mentioned, we did pass a water resources development act. we're now in the conference with the senate. it's been slow going, but be i feel confident that we'll move forward and, of course, that deals with the inland waterways, the bolters, the harbors. -- the ports, the harbors. i was able to travel to south carolina when we were going through this, and mayor reilly was very, very instrumental in talk to us about this. in addition, mayor foster from long beach, we talked to him

establishing post roads truly -- and adam smith believes -- plays an essential role for government, to make sure we aren't partnership with states and local governments to make sure we connect the country. president eisenhower said it best, that without the force of transportation, we would be a mere alliance of separate parts. connectsportation grid country. it is critical to keeping america prosperous. urceassed a water resor development act. it has been slow going, but i'm confident we will move forward. that deals with inland waterways, ports and harbors. i was able to travel to south carolina, and the mayor was an in talking to us about this. in talking to the mayor of long beach, we talked about the port there. itwe get input from mayors, is critical to helping us develop this bill. we were fortunate to be able to talk to enough stakeholders and get them to talk to their members of congress, so it passed out of the house with 417 votes. i think we were able to get to the core issues, making sure it responsible, because everywhere we travel, republicans and democrats alike think w

i think that stands out. >> nobody writes about john adams without consulting paige smith. is a foundation for writing about it. what is remarkable to me was that the adams papers had just been opened to the public at a time when he started writing his book, and yet, they were so thoroughly researched. >> it was the first thing i read in graduate school. it was my introduction. >> the caller was nice to mention your books. i want to show some of them. we're hoping people be intrigued enough to read more. "abigail adams: a writing life." "my dearest friend: the letters of abigail and john adams." can you dive right in and get a sense of the person? >> yes, you might need a little bit of historical context, the letters are personal. in some ways, they are timeless. the talk about problems that people have today, concerns that people have today. not the political context, but the intimacy. but your book is excellent because of the footnotes and you take people into it. abigail's letters had been in print and she has been read since 1840 when her grandson's first published an e

. >> kaepernick, gore, adam smith, defense, defense, defense, and a lot of michael crabtree. >> reportern, kind of been here material tearing off his shirt, but -- been here tearing off his shirt that says 49ers on it! i will be inside for the sideline action and more, coming up. >> thank you, scott, reporting live from carolina outside the stadium in charlotte. keep it tuned here to kron 4 news at the 9ers take on the carolina panthers. we will have continuing coverage throughout the day. the game is about two-and-a- half hours away. you can find updates on the website, facebook and twitter pages as well the mobile app, as well. go 9ers! we will be right back. anncr: at jennie-o we heard of a place in where every thursday people ride 10 miles for tacos. we thought we'd show up and surprise them with a better kind of taco made with jennie-o ground turkey cooked thoroughly to 165. i feed my kids turkey tacos over regular tacos any day. i think they are light and they are just fresh tasting. yeah. when i eat well, i feel well. anncr: it's time for a better taco. the tacos tonight were pret

so, and, you know, adam smith and david hume, and i can go through a whole list of them. modern day, i guess i would say that people consider them philosophers, sort of milton friedman, high yak, men of that -- hayak, men of that sort. and there are many others, i'm sure i can't remember them all. not one in particular, but all together. and by the way, the framers were well read on -- obviously, not men who didn't exist at the time, but many of the men at the time and before their time who did exist, they were well of informed about the enlightenment, about what had taken place before history. you look at jefferson, the declaration of independence borrows heavily from locke's second treatise on government. the constitution borrows heavily from montasgue's laws. these are the philosophers and others, many others, who should be the focus of our educational system, who should be the focus of our public discussion. but i fear other than a very small percentage of the population, most people have never heard of them and certainly don't know much about them. so i try to do my