and in particular always catch myself when it talk about adam smith. not only adam smith but his followers until now you think they can do economics just by watching people but watching people not tell you about the meaning that they bring to their economic life. what is your job been to you? what does consumption mean to you? we as humanities consider and modern economics does not. i am in favor of human onyx. >> doctor, and your view what does a shakespeare or mozart add to our understanding of her economic life. >> they tell you why people do things the heroes are middle class. one of the main characters there and the merchant of venice is a fool for love. what you learn from that is that shakespeare's time did not value the marketplace. it valued kings and queens and dukes and barons. in the church but not the marketplace. and so you learn what makes for a successful society. merchants are considered cheaters and manufacturers are making bad stuff we don't like them we preferred the queen. you are not going to have a successful economy. there is on

one of the anecdotes we tell and our story adam smith are for the wealth of nations in 1776 compared to inefficiencies at oxford university in england to the scottish system. one of the things he pointed out is the professors were lazy, the administrators were operating in such a way they thought there was a continuous cash flow. they did not have them deliver anything to the students. children under the students cheated came to class late it's the same patterns received 250 years later are still taking place in the university system for. >> necessary for good job anymore? depends quite a bit on the field. certain college degrees math in the stem fields on the other end of that there are some degrees like in theater you start asking the questions of your spending over the course of your spending may show to college there may not be the type of career path because the job market is not there for those types of degrees. >> in your book cracks in the ivory tower we talk about general education classes quite a bit, why? >> right. jen ed are these classes everybody takes. there is roughly

all good gerry: 250 years ago adam smith one of the greatest economists and philosophers to her history from the benevolence of the butcher, the brewer or the baker that we expect, but from their regard to their own self interest, we address ourselves not to the humidity but to the self-love and never talk to them of our own necessity because their advantages in the woke of nations and probably the seminal on economics, the point is capitalism is so effective because it rest not only on the ideals of altruism or socialism but it was by prioritizing our own needs first, the problem with woke capitalism we just heard not only alienates people with the constant lecturing on race, gender, climate and social justice is pursuing priorities other than their own profitability, companies are weakening themselves in the ability of the capitalist system to produce the economic growth to ensure prosperity for everyone. how ironic would be seeking to appease the critics of capitalism i am bracing the extreme ideology and executives would undermine the very system that made them successful in the fir

congressman adam smith, thank you for being with us. it. >>> coming up, president biden getting backlash from lawmakers in the u.s., but how are our allies and adversaries reacting to deadliest day for the u.s. military in more than a decade. that's next. that's next. i've lost count of how many asthma attacks i've had. but my nunormal with nucala? fewer asthma attacks. nucala is a once-monthly add-on injection for severe eosinophilic asthma. not for sudden breathing problems. allergic reactions can occur. get help right away for swelling of face, mouth, tongue, or trouble breathing. infections that can cause shingles have occurred. don't stop steroids unless told by your doctor. tell your doctor if you have a parasitic infection. may cause headache, injection-site reactions, back pain, and fatigue. ask your doctor about nucala. find your nunormal with nucala. without my medication, my small tremors would be extreme. i was diagnosed with parkinson's. i had to retire from law enforcement. it was devastating. one of my medications is thre

up next adam smith on america's longest war coming to an end and what comes next.ll. first, beyond our borders tonight. a u.n. atomic watchdog says north carolina appears to have restarted the operation of its main nuclear reactor at i don'ts the country openly threatens to enlarge nuclear arsenal amid long dormant nuclear diplomacy with the united states we will have a story onto this tomorrow. china meantime is banning children from playing online games for more than 3 hours a week as regulators continue cracking down on technology sector. minors in china can only play games between 8 to 9 p.m. on friday and public holidays starting september 1st. just some of the stories beyond our borders tonight. we'll be right back. before we head to break actor ed as member has died. rose to fame as a news man lowe grant on the mary tyler moore show 300 acting credits remained active into 80s liberal activist. he passed away on sunday and surrounded by family. ed asner was 91 years old. medication to reduce inflammation on and below the surface of the intestine in uc. you, g

joining me now washington congressman adam smith, chairman of the house armed services committee.ul glad to have you right now given what we are talking about, which begins with your reaction to our new reporting of an isis threat against kabul airport. how much do you think this changes the dynamic of our mission? how concerned are you about isis, and even the presence of al qaeda in the region? do you have any sense of their capability at this point? >> we don't know for sure. i'm very concerned about isis. isis and the taliban have been fighting each other for a while, so isis is not going to be calmed by the fact that the taliban have taken over, quite the contrary. they're going to continue the fight. i think right now they are the biggest threat to what we're trying to do in kabul. the taliban see that threat as well and they're trying to prevent it, but it is a real risk. we are not sure at this point what their capability is because, keep in mind, you know, we have pulled out and we have been out for a while. we don't have the type of visibility in afghanistan to monitor t

>> i greatly respect the marketplace, but even adam smith, the father of catalism, always warned constantly about the standing army of monopolies -- that's what he called them -- and that we would always have to have a check and balance. that's what buckley -- that's why he's so incredulous about this, because he got it, that once you have a situation where you have one or two companies dominating, it's very hard for capitalism to work. and he wanted it to work. i want it to work. and that means the antitrust laws and other checks and balances. there's no incentive for a company that is completely market-dominant to then use a bunch of their money to develop privacy regulations unless they'reither afraid of government coming in, which is starting to happen, or they have an opponent, they have a competitor. and when you don't have the competitors doing things, then you're forcing the government to play their hand and come in. and i think we should do both things -- regulate some things and have competition. but i'm actually such a believer in competition that i would like to see that happen

i'm adam smith, ktvu, fox two news. already taking a look at the temperatures from today.ed off a bunch today very noticeable. 5 to 10 degrees. that cooling, of course, is the mechanism or one of the reasons that it's going to be breezy tonight. we're going to see that red flag warning. it is in effect now for the northern counties and some east bay hills above 1000 ft. most folks won't notice it. you're going to have to be up there to notice the winds, but we are seeing some wind up in calistoga right now. i've seen some gusts up over 25 miles an hour up at the top. there's a live camera shot. there's a little bit of fog at the coast, but not a heck of a lot. and so there'll be some in the morning, but it's not a player. the fog is not much of a player at all. the players tonight will be the wind and then the smoke coming back in. we have 25 mile an hour wind up at mount st helena are saying, helena. pardon me are st seeing alina? sorry i always get always do that with that one. always do that, anyway. so that wind that's the northerly direction. that's the direction the

will you be visiting the grave of, of the genius of modern economics adam smith now, i mean, i mean, i'm a nurse, i'm north in inverness. right. so we're pretty far from edinburgh. so i think i'll pass on that. that are not went there is totally on a vengeful, is overrated. all right minutes. thanks so much bring i kaiser report. make sure you guys all right. i was going to do it for this edition of kaiser report with me macs kaiser and stacy herbert want to think, i guess, mich fireside author of plan palsy. until next time, via the me. ah, ah, one of the worst in mass shootings in america was in las vegas in 2017. the tragedy a close a little of the real last vegas. where many say elected officials are controlled by christina learners. the dangerous shooting revealed what? the l v m. p d really is and now it's part of the stem machine to the american public barely remembers that it happens. that just shows you the power of money in las vegas. the powerful showed that true colors when the pen demik hit the most contagious contagion that we've seen in decades. and then you have a may

will you be visiting the grave of, of the genius of modern economics adam smith now, i mean, i mean, i'm a nurse, i'm north in inverness right now. so we're pretty far from edinburgh. so i think i'll pass on that. that are not went there is totally on a vengeful, is overrated. alright manage. thanks so much. bring a kaiser report. make sure you guys all right, that's going to do for this edition of kaiser report with me. max kaiser and stacy herbert on a think, i guess mich fireside author of plan of ponzi until next time, via the me. i so what we've got to do is identify the threats that we have. it's crazy plantation, let it be an arms race is on often very dramatic development. only personally, i'm going to resist. i don't see how that strategy will be successful, very critical of time. time to sit down and talk the other stuff and then you need to talk to someone i can go back in touch with anybody when i've met, when i'm in a position where he was on it for me, which mobile phone bill. and it isn't about what it was, which would be join me, but it was easy. i got to know how to

will you be visiting the grave of, of the genius of modern economics adam smith now, i mean, i mean, i'm a nurse, i'm north in inverness. right. so we're pretty far from edinburgh. so i think i'll pass on that. that are not went there. it's totally on, on a vengeful is overrated. all right, minutes. thanks so much bring i kaiser report. make sure you guys all right. that's going to do for this edition of kaiser report with me, max kaiser and stacy herbert want to think, i guess, mich firestone, author of plan palsy, until next time, via the me ah, good britain, mr. moseley. when you said that i could, you could google. i would like to do i see you have been going to show you so you didn't know if you didn't if the mother molar, that's what you will cover financing for us to use them in order to follow does not so much much not although it is a lot nobody me and he's a sucker. and so you gotta fill me with your partially hon. ah ah, in the ah, i use me one of the worst m a nash shootings in america was in las vegas in 2017. the tragedy a close a little of the real last vegas, where ma

will you be visiting the grave of, of the genius of modern economics adam smith now, i mean, i mean, i'm a nurse, i'm north in inverness right now. so we're pretty far from edinburgh. so i think i'll pass on that. that are not went there is totally on a vengeful, is overrated. alright manage, thanks so much bring i kaiser report. make sure you guys. all right, that's going to do it for this edition of kaiser report with me. max kaiser and stacy herbert want to think, i guess, mich firestick author of plan of ponzi until next time, via the me. the expected upside of the pandemic kenya's experiencing. and elephant baby boom. 250. why this kenya have so many cars. and how has the panoramic impacted people's lives? is andree will have fairly big long in any fact he end up killing himself. i don't live on a leon when you go buy a car. well, and i will make as the little was due to me in the media group that they get, they say lucky to me. mean it will. because at that of the, when the neighbor who did the and he didn't even notice whether they call to do this. but i know they come in, it

the knowledge producing industries and exploring this division of labor as society has progressed adam smith the division of labor and increasing productivity but the division of labor not just withth respect to making professions but also with respect to knowledge production so we specialize in a small field so we have to rely on others so one of the things i explore in the book is the idea that our knowledge is a common resource. relying on these knowledge producing industries we have to rely on journalist and academics to know what the world is like we should be wary ofll social pressures to conceal information or conceal evidence or avoid giving arguments in those professions because only under a free robust exchange of ideas are we able to leave and something that here i pick up on the john stuart mill's ideas so that even that newtonian philosophy which is newtonian physics which was a robust physical theory it could not be challenged they had the incentive not to challenge it we could not believe in it so the idea is whether or not we are justified to believe something like we can cha

underlining values that support good market functioning, and this is the point that goes back to adam smithd most of the political philosophers and in the end most market participants would recognize that there's a role for regulation but also other institutions that are customs and rules but we lost some of that and the balance went out and it's one of those factors to the financial crisis. the next relationship between the value and values is i will simplify the market aspect of society, so there are the efforts to bring in certain elements of activities whether it's a charitable activity volunteering, i can go on. but in effect, bringing them into the system and in that process depending on the activity in the process there can be a corrosion and it ends up being counterproductive. that's not the core element, it's an observation i needed for completeness. the third aspect is when value can deliver societal values in other words really what i'm getting at here is the examples we will have the chance to talk about with climate change so the trade-off mentality as a policy maker and econom

this is not a new idea for people who have been working in classical liberalism you see u that in adam smithocqueville. the role that the voluntary sector and civil society. and those to empower people what i describe as a family independence initiative is absolutely essential to the progress we can make and it is critical right now we tell the stories as a guide for people who are positioned to take action in similar ways and as an amazing storyteller and he used to challenge me. we are making the right arguments in economics chain by milton friedman. people will not be sitting around a campfire with the work we are doing with policy is important as it is. the stories in this book these are people using songs about and can inspire others to say this is the right way for our country to go forward. you have to celebrate the application of these ideas to demonstrate how it truly makes a difference in people's lives. if this isn't the answer than they are awfully scary. >> if we recognize we need. i'm shift in people's thinking, you don't get anywhere in politics until people change their parad

to the crisis some of the values that support the good market functioning and this goes back to adam smithnd most politicalti philosophers. in the end most would recognize that there is a rule for the regulation and also other institutions in the sense of the customs and rules that support good functioning that we lost some of that and the balance went out and that's one of the factors to the financial crisis. the next relationship is the marketization so the effort to bring in the certain elements of activity whether it's charitable activity volunteering, i can go on but bringing them into the system and in that process there canro be a corrosion so it endsp counterproductive but it's an observation that i needed for completeness. the third aspect is when the value and what i am getting at is the example in terms of climate change so as we moved move out of the trade-off to a hierarchy of certain objectives which become a focal point and i arguee we are moving to that wih sustainability then the market properly informed with the right tools would be the driver of delivering those solution

financial crisis, the underlying values that's a part free market functioning and this goes back to adam smithd political philosophers and in the end it was recognize that there's a role for regulation but there's a rule for other institutions which are customs and rules. we have lost some of that. that is one of the contributory factors to the financial crisis. this relationship between value and values is what i described to michael pinto which is the market with aspects of societies of the efforts to bring in certain elements of activity where their charitable activities voluntary, i can go on but bringing them into the right system and in that process depending on the activity in the process there can be a corrosion of the values to the incentives. that's not the core element of the book. the third aspect is when values can deliver societal values in other words the market values and really what i'm getting at here is the example and i'm sure we'll have a chance to talk about it of climate change. as we move out of that trade-off and is almost bread in bone and me but to a hierarchy they a

adam smith for example he was very perceptive of this raid we seek the approval of others even when there are no costs. we are an approval seeking creature and that's important to look at our evolutionary history. part of that enables cooperation so there is a kind of other side to this, a kind of railing against conformity here in and the pressure to conform. on the other hand there is no tendency for humans to conform i don't know if we could have formed these tribes that had the desire to confirm was maybe the blues -- the glue that helps us in our evolutionary past. there a lot of things in our evolutionary past that benefit us now. why do we like sweet stuff and saturated fats? saturated fats are supposed to be good but why we like sugar is because it has lots of calories but now given this atmosphere of plenty eating sugar is basically bad for you because we have, we are not living under a calorie deficit as our ancestors were. this idea of the pressure to conform would have would have been helpful in our evolutionary past is counterproductive now and so just like we should check ou

this is not a new idea for people who have been working in classical liberalism you see that in adam smith and the tocqueville over the years the role of the voluntary sector plays in a free and open society empowering people to do when i described is the independence initiative is essential to the progress we can make. it is critical right now we tell the stories and often them as a guide for people who are positioned to take action in similar ways. i used to work with a guy named russ roberts he is an amazing storyteller. and say we're making the right arguments he was trained by milton friedman. people will not be sitting around the campfire singing songs about the work we are doing with policy is important as it is but the stories and the people that we encounter these are people you seeing songs about to say right way for a country to go forward that's what we are trying to get across we are trying to celebrate those applications and demonstrate how it makes afe difference in people's lives if this is in the answer then that is scary. >> if we recognize we need a paradigm shift in peo

also adam schiff, he is saying it's unlikely, adam smith also democrat says it's very unlikely . kevin mccarthy, l possible way . brad jerman, a present saying you're not quite get everybody out and this is just handful of people acknowledging reality. on friday, he looked into the camera in made the commitment quote we will get you home to america. he went even further and said quote, we are making the same commitment too. that was friday he'll be out this week in that commitment ha gone by the wayside. there is no transparency here i the meantime as you watch the pentagon rethink, they have a detailed percentage list of the members of our military who are vaccinated point by point, branch by branch, but they can still not tell us the number of americans caught in afghanistan. it is as stunning communication catastrophe all the way across from the pentagon come into the state department right on down to the white house. >> i want to drill down on that a bit because when people leave the country they have to flash their passports. how in the world can we not kno which americans a

her books include economic sentiments, adam smith in the enlightenment published by harvard in 2001. most recently an infinite history, the story of a family in france published by princeton just this year. now a word from our sponsors. today's event is presented by the chicago contemporary theory of the average chicago and cosponsored by the joint center for history and economics at harvard university as well as seminary co-op bookstore and the law letters and society program at the university of chicago. to all of those sponsors of today's event we give our thanks. finally, a brief remark. professor rothschild will offer her comments on jon's book to which jon will respond in turn, and the idea is the conversation will unfold from there. as moderator i will be taking questions from our large audience which you can post in the queue with a box i believe on the zoom platform. i plan to inject some of these questions into the conversation as we proceed. please ask questions to the q&a box really whenever you wish from now on and i will try to get those into the conversation as best i

the underlying values and support market functioning at this is the point because it goes back to adam smith and think most political philosophers and in the end, most markets would recognize that there's a rule for regulation but also a role for other institutions in the sense of douglas north which of the customs and rules in support of the market functioning but we lost some of that. there were other mistakes and regulations, we lost some of that in the balance is one of the contributing factors to the financial crisis. the relationship between value and values is a simplified would is the markets of society and the effort to bring in certain elements of activity whether it's charitable activities volunteering, and i can go on but bringing them into the system and in that process, giving on the activity, there can be a corrosion of values and incentives that was actually in that vein counterproductive. that is not the core element of the book, it's an observation which i needed to complete this. the third aspect is when value can deliver societal values in other words market delivers soci

democrat adam smith chairs the house armed services committee. >> look, if there was one sort of central failing in this exit, it was to not, you know, take a cold eyed look at what was going on there and say the taliban are going to take over, whether it is weeks or months, it is not going to be years. it is going to be days, weeks or months. and if that is the case, what do we need to do. and two big things, we need to pull more equipment out, two, we needed to get people out sooner particularly afghan sivs. that should have started much sooner than it did. >> and house republican leader kevin mccarthy is hoping to advance a bill today requiring a report on the number of americans still in afghanistan. >> we need more people to know what is going on. we need to fan out across this nation and have more people join with us. so if anyone is listening or watching now, we don't care of your party's affiliation. we don't care if you dislike what we stand for. but i know you stand for america. and i know you stand with bringing these americans home. let's have a plan to do that. let's take po

new idea for people who have been working in these principles of human empowerment and use even adam smith and de tocqueville and people that we cite in the book like did cornell and over the years the role that the voluntary and civil society including these community organizations and business play with free and open society empowering people to deal with what charles is described in what i described as the family independence initiative is absolutely essential to the progress that we have made. it's critical that we tell the stories and we offer them as a guide for people who are positioned to take action on these principles. he is a great guy he says we are making the right argument in economics. he's an economist. this is than his life. people are not sitting around a campfire singing songs about the work we are doing. the stories in this book and the people that wing counter people like anton or people like cereno these are people that can really inspire others and say wait a minute this is the right way for our country to go forward. i think that's a big part of what we are trying t

congressman, so just taking the air base and the chairman of the house armed services committee adam smith there is a struggle to supply the refugees there. obviously. there wasn't preparation for this sort of a thing to occur on this point of it. what happens now? >> sure. well, the disaster continues, and, you know, yes, a lot of people were evacuated out of afghanistan but the biden administration still left people behind and now we're trying to sort through the folks at these various bases not just at u.s. air bases. this are many that will be transported to other countries, other countries welcomed them in to sort through and make sure they have all the right paperwork to go on ward to their final destination. a lot of these are folks that were helping us because of great tremendous risk to themselves and their family and they're high skilled. i know there is a number of businesses and organizations that are looking to try to get them to be placed in jobs but now we go to make sure we can house and feed them. >> the quite says they have the capacity for 21,000 refugees. the number eva

chairman of the house armed services committee, congressman adam smith was debreezed by lloyd austin and mark milley on a briefing on capitol hill today. >> i'm very confident that we'll get out as many as possible. all will be very difficult. i asked about the 31st deadline. that's still the goal. i was very specific. you need to have a plan to go past the 31st and they said they do. >> as we reported, there's a very serious security threat from isis inside afghanistan. that means in the u.s. wants to operate in afghanistan after all 31, they need the permission of the taliban. neil? >> neil: so if i can get this straight. when they say all americans out, they're saying all miles per hours, right? all out, they're talking about americans or is the preference right now because we're told that some of the -- getting the troops out, that could start as soon as the next 48 hours. >> sandra: . >> we're reporting that troop withdrawal has started. high of 5,800. that's already starting to be retrograded. they have to do that in order to keep on a timeline to be out within a week. what the