and in particular the modern economics not adam smith the the blessed adam smith. i'm an episcopalian. i always cross myself when i mention adam smith. but not adam smith, but his his followers. tended to narrow. the field until now economists think they can do economics just by watching people. that's okay. i'm not against. watching people but watching people doesn't tell you about the meaning. that they bring to their economic life. i mean, what does your job mean to you? what does consumption? mean to you these are important questions which the humanities consider. and that modern economics does not so i'm in favor of humanomics. well dr. mccloskey in your view. what does a shakespeare or a mozart add to our understanding of our economic life? well, they they tell you. why people do things although that's a kind of a simple-minded way of talking about it there. in shakespeare, for example none of the heroes are middle class. and say well in the merchant of venice, no, that's not true that one of the main characters there a -- is is the enemy and and andio the me

take the advantage of what the class of economic school created for 200 years and characterize adam smith as gordon gecko is totally unfair. so i go straight to smith's own words to basically trying to embody the notion of moral sentiments that are self-interest when it becomes more enlightened morally leads to a better societal response of human flourishing. that's right. smith didn't write a book the story of gordon gecko and wall street greed and bad people who short he wrote a book called theory of moral sentiments. that's right, and and that's important to to look into and to help. i'm just going to go through a couple more names. okay, david found the names. it's this one's a hard one frederick bastia. it's a french name. okay. bastia. but he's an important one bus just speaks in your book and in his wonderful treatises about the things one sees and that which one doesn't see what what must be foreseen. tell us about it. tell us the story of bastya's broken window fallacy. so i as a very very young person who did not have a very easy time getting dates with girls read henry haslett'

therefore, i am for economist adam smith. consumption was the sole end and purpose of all production. in the 18th century goods were mass produced in factories with the 1st time. ordinary people could now buy nice things, textiles, jewelry, cosmetics, it was a consumer revolution. the 19th centuries, advertising pillars and electric signs promise to luxury for all in countries including germany, france and the us. the 1st department stores opened temples of consumerism. after the 2nd world war, consumers spending growth, the so called economic miracle cars, refrigerators and washing machines became widely affordable. but consumerism as a down side, depleting the planets, resources, and destroying the environment. success of consumerism is dangerous. it activates the brains pleasure center, but can lead to shopping addiction and chronic debt. getting caught in the consumption trap. oh, criticism of consumerism beginning the 19 sixty's. consuming less and sharing goods with others instead of owning them. today, the sharing economy is growing more and more popular with young people. the

k, the center for policy studies, the adam smith institute, but they were regarded as totally fringe and they were not re listened to a toll until you get a political entrepreneur like margaret thatcher. who is interested in decisively resolving the crisis of the seventy's. and these ideas, a sort of sitting around and they provide policy templates that she then implements sy, much of opportunity and enterprise, less tax, less regulation, more flexibility, it more freedom. those will be our guidelines. she says you have to dial down political institutions. you have to roll back democratic accountability, you have to open the market to the least idea of market forces, which means that you, cattail social forces and a big part that is absolutely discredit taking the idea of the welfare state that she was willing to go whole hog and tear up the post war consensus. basically been defeating the trade unions, which she regarded as the enemy with it. and then restoring the conditions for businesses to make profit. so it is left to the market to decide which areas will flourish and prosper,

and when people like adam smith, who's the chairman of the house armed services committee, said buying these things now as i pouring money down a rattle, they still go ahead and this is a result of what happens when you get it out into service. when you haven't worked out all of the problem, even though it does have these problems that had the most sophisticated electronics, i mean the chinese are not that concerned about getting the engine, but it's the electronics that are on the plane that we can use to track other planes to lock on to targets when you're, when you're flying to negate the radars of other play. i mean that the technology very good. it's just a question of working that out as well as the mechanical problems together. we'll get to whether i'll take back to on al jazeera than a clue in burkina faso. she's the country kicked out of the west are for original echo was a home policy. the party was for the low temperature is extra special for the world level one. 0, i look forward to skies with sponsored point cut. it weighs hello there. let's have a look at the weather in n

and when people like adam smith, who's a chairman of the house armed services committee, said buying these things now is like pouring money down a rat hole. they still go ahead and this is a result of what happens when you get it out into service when you haven't worked out all of the problem, even though it does have these problems that had the most sophisticated electronics . i mean, the chinese are not that concerned about getting the engine, but it's the electronics that are on the plane that we can use to track other planes to lock on to targets. when you're, when you're flying to negate the radars of other play. i mean that the technology very good. it's just a question of working that out as well as the mechanical problems together. still to come on this program. a clue in between a process, sees the country kicks house of the west african regional block, a co workers. and will tell you why sizes of truck drivers of strategies surely ah ah, look forward to skies with sponsored point cuts off at ways. hello, there will start in south asian. there's lots of fine and dry conditio

, capitalism has created more freedom in the history of this world than any other single item. adam smith's desire of this country economically created more freedom, more free people, more free ideas, more free opportunities. the fact of the matter is these people are working with a contract and when the government weighs in, this particular puppeteer is actually coming with cash in his hand to offer those puppets as, as he put it to deaths. but to their tune with other people's money, that's what's truly happening here. it's easy to blame the government, the government wage and makes huge mistakes with policy like they continue to do. here. we see that there are 1200000 more people employed today than the were in 2020. as he pointed out. the fact of the matter as people are leaving because we're being incentivized to leave, whether it's more money in their hand or they just don't want the headaches of the mandates. again, do not over look the mandates and the impact. they're happy if job biden's mandates go into effect in the next few weeks, it will destroy rural health care in america. th

it is really about adam smith. tom: a delicate question.e republican party get beyond the trump certitude as defined by the wall in the bridge you would like to build? glenn: i think both parties can get behind bridge ideas because there about two points. preparing people for the world that is and will be and reconnecting people who get disconnected from an economy influx. that is something that does not have a republican or democrat flavor. people as disparate as paul ryan and president obama have had many of the ideas we have talked about. lisa: one thing tying the hands of republicans and democrats is the inflationary backdrop. how do you incur more debt at a time there does seem to be a concern? how do you think the federal reserve should handle it at the meeting today? glenn: most of the programs i advocate are fairly small. that is the shocking political thing. i just lies ways in which we could pay for it. -- i describe ways in which we could pay for it. the fed has acknowledged it is behind the curve and trying to catch up. the ques

i believe it was adam smith who said capitalism cannot live on an unemployment rate below 5%.at again to see whether it can hap

adam smith always said he was a big supporter, godfather of capitalism, invisible hand but you alwaysidled power of monopolies. that's what we're doing here. and what i consider a reasonable way. >> well, we wanted to follow this and it is a big deal as a bipartisan piece of legislation that we're following through congress. i want to talk about a couple of other issues. and that is the president's news conference yesterday, a couple of clean-ups and clarifications today and a big one about ukraine and russia. you just returned from ukraine on a caudill, a trip with lawmakers. this is what the ukrainian president tweeted today. we at this point in time remind the great powers that there are no minor incursions and small nations, just that there are no minor casualties and little grief from loss of loved ones, i say this as the president of a great power. did senator -- president biden undermine ukrainian security yesterday? >> i think president biden made very clear and i by the way started the day with senator portman, senator shaheen, senator cramer, many others reporting back to th

is morgan schondelmeier, director of operations at the right—of—centre economic think tank the adam smithpoken a lot to you. hello again. before we come onto the case for the defence for introducing this, morgan, do you want to explain why you are so unhappy about this proposal? figs why you are so unhappy about this --roosal? r ,, why you are so unhappy about this --roosal? ~ , i. ., proposal? as you mentioned, we will see a one point _ proposal? as you mentioned, we will see a one point to _ proposal? as you mentioned, we will see a one point to on _ proposal? as you mentioned, we will see a one point to on employer - proposal? as you mentioned, we will see a one point to on employer and l see a one point to on employer and employee contributions, and that means everyone who is working will be playing more, unless they earn less than nine and a half thousand pounds. this is going to disproportionately affect people on lower incomes. the worst hit will be those who earn about 30 that the —— 30-50,000 a those who earn about 30 that the —— 30—50,000 a year. 10% onjust national insurance. th

. >>> i want to go now on the back of matthew's reporting to democratic congressman adam smith becausef the house armed services committee and just received a classified briefing on ukraine. senator, let me start by asking you then a chance to respond to what matthew just reported that they say patriots. if we get patriot antimissile defense systems we're okay. if we don't we won't. it comes down to that. are you for doing that? >> well, i don't think that is militarily accurate. in terms of if they had patriots they could stop the russian invasion. i think what is clear from the reporting is, you know, ukraine is an incredibly difficult situation and dangerous situation and they want help. i think we need to be clearer about our support for them. i think there are more weapons we can provide to them and work with our allies to provide them. i completely agree with the ukrainian government we need to send a clearer signal that we will help them, you know, thwart a russian invasion and make it a very high cost effort for putin. more needs to be done. i don't agree that a few patriot mis

and when people like adam smith, who's a chairman of the house armed services committee, said buying these things now is like pouring money down a rat hole. they still go ahead the airport secretary frank kendall. it's called that acquisition malpractice, but we're doing it. and this is a result of what happens when you get it out into service. one that you haven't worked out all of the problems, if it's such a fundamentally flawed aircraft. why would china be so interested in getting it's hands on it? why is that? now this, this race to get to it 1st well, because even though it does have these problems, we've had the most sophisticated electronics. i mean, the chinese are not that concerned about getting the engine, but it's the electronics that are on the plane that we can use to track other planes to lock on 2 targets when you're, when you're flying to negate the radar. and so, by the way, i mean the technology very good. it's just a question of working that out as well as the mechanical problems together. lawrence, it's always good to talk to you really appreciate you giving us

there's no doubt about that, but for as adam smith has told them wealth of nations was published in 1776. you'll make more money by treating them as trading partners than treating. as vassal states. he's very explicit about it. and that's true as it turns out. we are the biggest trading partner after the war with britain and the first british empire is then succeeded by a of course. they've got to fight the french again. it's what they do. but it's succeeded by another british empire that's going to be bigger richer more expansive globally than the first british empire ever was so d colonization is the way of the world, but it's going to take world war ii to really put the nails in the coffin where those aspirational issues that we talked about come to the fore and you have the creation of modern india israel. kenya all the nations that have come into being as a consequence of decolonization. after world war ii it's good point though. it points up in a sense the continuing relevance of the american revolution to drive for liberation. people want to live free. well, that's that's right an

here, congressmen, speaking on one of the sunday morning talk shows adam smith said that is exactly what is needed. enormous sanctions he called for, but he said, nevertheless, with a 100000 troops on the border, putin is very likely to invade john henderson with the latest from washington, d. c. john, thank you. global food prices are at their highest levels. in a decade. many people worldwide are now struggling to make ends meet and in serbia, rising fuel and energy prices are making matters even worse. laura burden manley reports this new year. many in belgrade, a choosing carefully. well, they put in their food basket. and that's because prices have food that's supposed to load up 20 percent on a year ago. and we have to predict prices to get to the end of the month to go through the month without any debt. what was the most of the we don't eat what we want, but what we have will you always pay from that? i managed to put it together somehow to pay for utilities to pay for electricity to make ends meet the mini probably fail. awesome logan. it was payable, you according to the un glo

and when people like adam smith, who's a chairman of the house armed services committee, said buying these things now is like pouring money down a rat hole. they still go ahead and this is a result of what happens when you get it out into service. when you haven't worked out all of the problem, even though it does have these problems that had the most sophisticated electronics, i mean the chinese are not that concerned about getting the engine, but it's the electronics that are on the plane that we can use to track other planes to lock on 2 targets when you're, when you're flying to negate the radars of other play. i mean the technology very good. it's just a question of working that out as well as the mechanical problems together. still to come here on the news are for you. we're in the mountains of pakistan. we're on group. so launching attacks will. so the one size is a truck driver stranded argentina's border with children and in the sports news and important with to qualify this. he has woke up in cattle. ah, hello there, a winter storm blew east out of the mediterranean, bringi

my colleague ryan smith recently sat down with adam cox, the brother of laurie vallow and alex cox, toshed light on the brother-sister duo at the center of it all. >> describe what their relationship is like. alex is more a loner kind of guy? >> he didn't have a lot of friends. i think when laurie would invite him to come to the house to eat, to go do something that he was always willin to go and be there for her. >> one thing alex's ex-wife debbie describes in her conversations with police that is alex and laurie seem to have an unusually close relationship. alex even went so far as to describe laurie as hot, which is not typically a word that brothers use when describing their sisters. >> alex and laurie maintained a close relationship over the years. as they got older, laurie would marry several times. she had two kids. a son, colby, from her second marriage, and a daughter, tylee, from her third. laurie alleged tylee's father, joe ryan, was abuse. the claims were investigated but never prove. still, that didn't stop brother alex from getting involved. >> this would become a recurri

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