>> adam smith? i have done a fair amount of research on smith and some writing, he was more the classical liberal view for the time he wrote, he was in favor of progressive taxation, in favor of emerging welfare state practices, government, some of his students and others became leading supporters of the french revolution and advocates of early government activity in government, in england, government including utilitarians, john stuart mill, i would say adam smith was definitely of the vehicle liberal school rather than contemporary libertarian school. smith saw that society was not desirable when it was divided between a few rich and many poor and that is what we have in the united states, different from society that our founders envisioned and advocated, no question if george washington and thomas jefferson and john adams, james madison and thomas paine, benjamin franklin, were here today, they would be advocating -- wouldn't say society in which the top 1% have 42% of the wealth on their way to 5

>> guest: adam smith, you're saying? yeah. well, i've actually tone a fair amount of research -- done a fair amount of research on smith and some writing op him. again, he was more of the classical liberal view. the time that he wrote, he was in favor of some progressive taxation, he was in favor of emerging welfare state practices, of government. some of his students and others became leading supporters of the french revolution and advocates of early government activity in england, in government including the utilitarians and jeremy bentham, john stewart mill. i would say adam smith was definitely of the classical liberal school rather than the contemporary libertarian school. smith saw that society was not desirable when it was divided between a very few rich and many poor. that's kind of the society that we have now in the united states. that's different than the society that our founders envisioned and that our founders advocated. there's no question that if george washington and thomas jefferson and john adams and james ma

classical liberal would be in the adam smith mode. krugman is definitely a keynesian. adam smith advocated sound money, anti-inflation gold standard type of policy, very limited government, laissez-faire is the french said. a system of natural liberty, balanced budgets, free trade. krugman would be more or less a free trader, most economists are but not an advocate of balanced budgets especially during recessions. he is more of a keynesian in that respect, more than inflation is to, more than interventionist. i'm curious, did they give a reason why krugman? >> host: we were talking about milton friedman. i think it was he -- on chicago. said that he thought paul krugman would be more in the milton friedman camp than a libertarian. >> guest: we had lanny here to debate steve moore and lanny is an interesting person because his background different classical economics. john stuart mill is his favorite economist. he has written a biography -- friedman. you would think he would be in that camp but he has drifted. in santa monica or santa barbara, he teaches there. he has b

classical liberal would be adam smith and paul krugman is a keynesian. sova smith advocated for the gold standard type of policy. and with that natural liberty and free trade. but certainly not an advocate of balanced budgets in negative is it more of then interventionist so if they spoke did they give a reason why?. >> said professor said that progress and should be more in the of milton friedman camp. >> we had him here to debate more and as an interesting person his background is a classical economics but right team a biography and to live in santa barbara. bin did favor of a progressive tax and milton friedman and hayak were sceptical as i am. the id yet to transfer wealth from the private sector to the public sector and i cannot see how that would be beneficial. and the prism of how he sees things. so with no central planners. >> then a $20 bill with jackson on net $3 that is the cost of production but with a $100 bill the same thing it is $3 but $1 bill is $0.3. people reing of liberty bell , eight times they have been to freedom fest. obviously yo

---"adam smith" uno de los investigadores dijo que el tiburn se sinti atraido por el objeto pensado quizscomer decidi jugar un rato y luego simplemente se fue. --- y para brindar un mejor servicio walmart pondr en sus tiendas, escuche bien, robots... estos, podran escanear, subir y bajar productos, asi como como corregir precios erroneos en las etiquetas... ---esta nueva tecnologa es para liberar a los trabajadores de procesos manuales y predecibles y as puedan atender de manera mas eficiente a los clientes. ---ya estos robots han sido probados con xito en arkansas, pensilvania y california. ---se hizo pasar por polica pero el y sus complices terminan tras las rejas! ---le diremos cmo la victima se dio cuenta que quienes decan ser la ley... tenan otras intenciones. --- preocupacin en san jos, un estudio indica que el costo de las rentas se han incrementado cuatro veces ms rpido que los aumentos de sueldo, cmo puede enfrentar esta situacion... le contamos --- --- en noticiero telemundo 48 somos primeros con la noticia continuamos monitoreando este incendio de tres alarmas en "east foothill

adam smith said to the british government, maintain the laws, do not allow the maritime industry for great britain to go away. and so we should be paying attention to the master of the free market system who wasn't totally for the free market but understood the necessity of protecting certain industries that are critical to the future of a country. one more thing is on my mind. the congress of the united states, two years ago, decided that we ought to, for the first time in some 50 years, export our crude oil. we've been exporting natural gas in the form of liquefied natural gas for some time. we added to that the export of oil. is that strategic national asset on american ships with american sailors? the answer is no. but if we passed a couple of paragraphs of law and required, as we once did with the north slope oil, when that opened up in the 1960's, that that oil be transported on american-built ships with american sailors, if e were to reinstitute that law with just a small percentage of the strategic national asset crude oil and natural gas, just a small percentage of that on j

adam smith is usually regarded as a great champion of the free market so on and so forth. however if you read both of nations the whole point it is derived from the division of labor which is complete independence from each individual and society of all the other benefits of the democratic system with interdependence. not independence. so with the international community and sovereignty in those terms?. >> i will take this myth definition not as conventional but as you describe that embraces sociality and the importance of living with their research and obligations. but i think it would be a concession to pressure on those responsibilities and obligations he did not pay me to say this but my boss wrote a piece in january in a sense of world order to puerto that talks about flesh should help this notion of flesh tingled me sovereign nations and also had the same reaction to donald trump's speech of the traditional conception of sovereignty is not enough of a basis for world order. you need to have former solidarity and agree on rules of the road and principles getting those

in this country rather than encouraging offshoring and it's encourage way too much offshoring as adam smith want to want the wealth of nations is is literally what they manufacture that's right because in compas is as he recognized even before economists were talking about you know fancy words law like productivity he realized it incorporated knowledge reflected knowledge and knowledge was the nation's most important economic asset by far so the knowledge necessary to engineer something to design something to invent something to manufacture and which also spins off great services which in turn are or knowledge intensive themselves and this is the big problem the administration has been saying they're going to go after china that they're forcing the export of knowledge of technology right the chinese essentially hold up american corporations to blackmail standards they say if you don't transfer a lots of your very best know how to chinese partners which are invariably controlled by the chinese government you don't get access to this big chinese market that you value so much remarkable alan t

profitable corporation this is apple ism is a mimic is an imitation of the natural order and he even adam smith talks about that in wealth of nations so big coin could very well been can read it by computers for computers to allow the evolution of software to take place a lot faster to put he was out of business sooner as a way to create incentives for the entire machine ecosystem behave post humans in an efficient manner it's not that they're gaining wealth if they're there they're hewing toward efficiency that you would have with capitalism of it wasn't destroyed by the central banks by replacing central banks with big coin you open the gates now for a machine evolution ery extinction event of humans and also mother earth is screaming for this to happen before humans extinguish mother earth so this is a combination of earth and machines well it could be as you saw the. the su is they you know when they're targeting the leaders they take out the leader so maybe this is the ai taking out the leaders or central banks the elites the bankers so well the bankers become the buffalo remember you need

i would respect fully correct that father of behavior is adam smith.le behave in irrational ways all of the time, we have people who do not get education, and are drug addicts o or alcoholics, and eat way too much, people who behave all kinds of irrational ways, in terps of investing i think most irrational way, with greatest respect to you to pick winners and losers not go with indexes. indexes give you good results. charles: what about people, in the market. >> that -- is is arc stonishin- astonishing, people who avoid market suffer they are afraid of a catastrophic, event. so, people who avoid any kind of risk pay dearly for it. you ask opposite of irrational exuberance it would be irrational caution. it amazes me that i meet people in 30s and 40s who do not own any stock, their money is all in bank accounts. why they do that, is a mystery to me. charles: i read millennials have 50% of their money in cash. this sounds nuts. >> this is astonishing. charles: i want to bring government into this what role should they have with respect to manipulating o

tax the negative externalities and the next -- >> but it seems to me that your argument is with adam smithand the invisible hand and the system in a capitalist system that does drive innovation, lowering cost and lowering labor costs and i am confused. it seems like jobs have been lost by automation. you just walk into a cbs where you have to bring up your own things and there is in a cashier there anymore. steve: there is interesting work work on their been more jobs created in warehousing and delivery in the past few decades that are lost in retail. those jobs actually pay better and it's interesting i have this amazing experience at amazon that understanding how many more people they are hiring because they are telling their robots to do and they're putting 45000 robots into their warehouses and they added 250,000 people because they said we will use those robots to do more and we will try to deliver faster and they didn't say we will just use those robots to cut cost. goes back to the central idea that we are giving our economy the wrong instructions when we say cut cost, optimize the

not to get too historiographical, it is often based on adam smith, william arvidson, who frankly knew and wanted. franklin, you will recalls, says honor is due to the parents. they raise children who are worthy and will contribute to the state. just the same as this idea of republican motherhood, raising good to dozens. franklin, in his definition, who is due honor, never differentiates between men or women. he uses them both. as intertwined. this is something that is allowing more people to contribute to society. literally doing three things. he is making -- moving on or from birth, linking it to merit, he is then tying honor to the good of the state or the good of the society. he is then making it accessible to different genders. all in. a lot of this is revealed through his autobiography. your account of yourself will show you are are ashamed of no origin, a thing the more important as you prove how little necessary all origin is to happiness, virtue, or greatness. the idea that any person can build themselves up in advance a being immoral, -- being a moral, ethical person. frankli

not to get too -- often the historians talk, basing it on adam smith, who franklin knew in london. franklin you'll recall says honor is due to the parents because they raised children who are worthy and will contribute to the state. just the same as this idea of republican mother hood raising good citizens. franklin in his definition, in his description of ascending honor, never differentiates between men or women. he views them both as kp intertwined. this is something that is allowing more people to contribute to societies. literally doing three things. he's making -- he's moving honor from birth. linking it to merit. he's then tying honor to the good of the state or the good of the society. he's then making it accessible to different genders. all in one phrase. but a lot of this is revealed through his autobiography, which benjamin vaughn, says your account of yourself will show that you are ashamed of no origin. a thing the more important as you prove how little necessary all orrigin is to happiness or greatness. now, franklin will die before the book is released. it becomes an

and that is adam smith published his book, his book on free enterprise capitalism, and the name of it is "wealth of nations." no one has surpassed that document at this point. he with utter clarity explained how if you allow people to keep their own goods, earn their own profits, and invest that, how it will improve the productivity, they'll invest it in efficiency, and how the invessable hand, -- the invisible hand, that is the person who is buying the loaf of bread off the shelf, if that shelf is empty, you put more bread on there and sell more. if you're selling more than you can make, you raise the price a little. if someone thinks you're making too much money, they start up their bakery and get their bread on the shelf and it competing with each other. the shelf is always full of bread and the consumers get a product that they demand. that's the concept of free enterprise capitalism. i don't hear anybody talking about that today. we also developed here a measure tock rosy. if you have freedom you can be rewarded for merit. we don't talk about that anymore. we give out participati

adam, thank you. norman smith is in westminster.ve effect if it reversed brexit. that is not realistic, is it? the arter sadly not. mr hammond has already said it is not happening and even the most optimistic remainer would concede it is about as likely as the loch ness monster putting in a surprise appearance at least for now. the real sailors of the oecd report is its warnings about the impact of no deal. no deal as opposed to a second referendum is as opposed to a second referendum is a realfault line in the brexit debate. the oecd say if we get a deal than the economy will still grow at around 1%. if we do not get a deal, the pound will fall to new lows, business confidence, business investment, consumerspending, lows, business confidence, business investment, consumer spending, all that will be hit and that is where this is me's dinner diplomacy comes in because if she cannot secure, we move remorselessly into no deal territory. here is her conundrum. it is becoming clear key to progress on these talks is cash. putting more mon

this week congressman adam smith and i introduced the dignity for detained immigrants act this legislation is critical to dismantle president trump's mass deportation machine to protect families and restore justice and due process to our broken immigration system. ms. jayapal: our detention system brings huge profits for large, preist corporations, about 38,000 people are detained every single day at a cost to taxpayers of over $2,000 a year. 24 bill is about two things, dignity and justice. for families, pregnant women, people with serious illnesses, survivors of torture and violence. it's unconscionable we're detaining these people, sometimes for months or years. congress can't afford to sit on the sidelines anymore. it's time to make clear that locking people up without due process is not only unconstitutional, it's un-american. at a time when net migration is zero, when dreamers are at risk of losing their daca status, and the world reels from unprecedented numbers of refugees fleeing for their live well, must act with compassion. i urge my colleagues to pass the dignity for detained i

his name is adam smith, and he's famous for the followowing linene: "if everybody pursues his or her own self-interesest, it'll w work ot for the best for everybody." most of you know that that's silly. it's a wonderful rationale to go out there and do what you want for yourself and not care about anybody else, but where that leads is exactly where we are... in a very, very bad crisis. so, let's begin by analyzing this crisis as the crisis of a system. and we'll go on to talk about this system even when it's not in cririsis, because that's as big a problem as the crisis itselelf. but crisis is where we are. 2012 is the fifth year of this crisis. what does that mean? first and foremost, it means that we have in the united states today something on the order of 20 million to 25 million people who either don't have a job at all, have been without a job long enough that they've given up looking-- so-called discouraged workers-- or folks who have to take a part-time job because that's all they can find, but they would like to have a full-time job. the bureau of labor statistics in washing

named today by team england for next april's games and among them, greg rutherford, adam gemili and dina asher smithth the 100 relay team and she feels those experiences will mean she is aiming for the top of the podium in the gold coast. we have probably got a really good shot at getting the gold now. we have so many amazing sprinters around the world from other great sprinting nations, the bahamas, jamaica, other countries like that, so there will be stiff competition but coming off a world silva medal are definitely aiming forthat a world silva medal are definitely aiming for that goal. dina asher smith one of the top names in the squad going to australia but cj luger, perhaps the best sprinter on the mend's side in great britain, he is not on the plane —— ujah. ujah has instead decided to prioritise the world indoor championships in birmingham next march. they obviously know the world, wealth games is on and we had the discussion, the opportunity is offered but we respect what the athlete wants to do and what the coaching team wants to do and they have to look at it in terms of the whole length

in a moment we'll speak to our assistant political editor norman smith, but first let's talk to adamn brussels. soa so a pretty gloomy assessment from michel barnier, what now? the action moves from the technicians here to the politicians from the 27 remaining eu member states. their ambassadors will be meeting over the next couple of days working out what sort of language can be put in front of eu leaders when they meet for a summit at the end of next week. will they be optimistic and generous towards britain when it comes to brexit or pessimistic and tough on britain? that is the discussion going on behind the scenes. david davis the brexit secretary would like eu leaders to broaden the set of instructions given to michel barnier to allow him to move on from just focusing on brexit withdrawal related issues to the bigger issues over a transition phase and the shape of a future trade deal. that is what david davies appealed for from the podium short while ago. michel barnierfor his part from the podium short while ago. michel barnier for his part says he is happy to have more meetin

adam fleming in brussels. first to westminster and our assistant political editor norman smith.ft rebuttal from the european commission this morning, what's the response to that there? i suspect the mood in downing street is disappointment, anger, cold fury, blind panic, all of those things because the hope had been mrs may's florence speech would inject la dolce vita into negotiations, make eu leaders more accommodating. more than that mrs may believes she has offer genuine concessions, talking about the two year transition period, we are prepared to pour billions into the eu during that period, and on top of that downing street announced this lunchtime we will announce the crucial trade and customs paper setting out trade arrangements we wa nt setting out trade arrangements we want with the eu after brexit. in other words saying we are getting on with it, here are our trade plans. it may be eu leaders take the view mrs may is so enfeebled at the moment they can just push her around, they don't have to give ground, but the one consequence of all this i think is that it markedly

adam, thank you very. we have republican congressman, adrian smith, from nebraska. member of house ways and means committee. they write up the tax bills. congressman, i know there are disagreements. a lot of republicans from new york and high-taxed states don't want to see end of deduction of state and local taxes but would that be a deal-breaker? would disagreements among republicans what goes in the tax bill, prevent tax cuts from happening before the end of the year? >> well there is that potential. that is why we need to focus on moving this ball down the field. i feel really good about this the house will be in session next week. we'll engage colleagues from across america. both sides of the aisle. it is important to get our economy growing again. tax reform, simplifying tax code with long-term, long term policy best way to grow our economy. we need to do that. david: we agree on that. here at least in this studio but it would be a disaster, would it not if disagreements over little things in the tax bill would prevent the big things like a big cut in the corpo

adam fleming is in brussels. our assistant political editor, norman smith, is in westminster. brussels? it's crucial but i think overall, there's a consensus there's not going to be any significant movement today. there's not going to be a shift on to those trade talks which is what the government wants. but it is crucial in terms of the mood music, the signs of how willing the eu might be prepared to move on to those talks in december. but, mrs may really is under some pressure now, notjust from eu leaders to give more, mainly more money, but also from brexiteers here at westminster who are in effect saying to mrs may the negotiations are going nowhere. you need to issue an ultimatum to the eu that if they do not move to trade talks we are going to leave without a deal and move on to world trade organisation terms. interestingly, the labour leader who's also in brussels today was asked about that. he was very clear he thought such a move would be catastrophic. we're here to support the interests of the people of britain in our negotiations with europe. the prime minister seem

smith to meet with john miller and pulled him aside and said if a case is brought adam not saying there will be, but if, a case is brought to your court in which a case has been successfully tried in a state court, granting an injunction against the school board for integration in little rock this fall, would you uphold that injunction? and john miller, completely unethically, says, "yes, i would." and in fact discusses with him how this case might be drawn. so upton comes back to little rock, tells blossom this. blossom says oh, my gosh, this is wonderful. i mean i had no idea. blossom and upton go out to see faubus, tell him about this, and they all kind of get in this together. faubusssom persuades about on the plaintiff for the case. i told you this was confusion. it is. this is very complicated, and you really have to sort it out. but what we have going on here in a nutshell is that the school board or part of the school board is now engaging in a plan to sabotage its own plan of integration. for all kinds of reasons that i talk about in the book, they didn't want to just come out

adam schiff described the connection today on morning joe. >> here you have the head of the data analytics campaign reaching out to a foreign intelligence agency affiliated and working with the russians. you also have peter smith in contact with flynn. and reaching out to russians on the dark web to look for these e-mails. there's an extraordinary number of connections between the campaign and those who are stealing the e-mails, publishing the e-mails. and a picture begins to emerge. >> the new york times is reporting the russian lawyer who held that trump tower meet iing was directly linked to the kremlin. natalia brought information to the meeting she thought was darthing to hillary clinton. had discussed talking points about that information prior to the meeting well russia's top prosecutor. the coordination between the trump tower visitor undercuts her account that she was a purely independent actor, when she met with don junior, jared kushner and paul manafort in 2016. this also contradicts the story we heard about the meeting was about adoptions. >> it's commonly agreed after many months of costly looking that there was no collusion between russia and trump. was collusion with hc! . congressman schiff re