have they are resurrected, brought back to life and even improved upon by the other schools of economics, the austrian school, chicago school of economics, and friedman and so forth. it's really a unique -- i think have done something really unique. and make a real story with a heroic figure who triumphs in the end. a true american story. the model i see as the ideal. >> who was ludwig? >> the premier austrian economist of the 20th-century. he taught initially at the university of vienna. he was jewish. city left turn or to permit him to america , and his economics became more popular never as popular as milton friedman, but certainly a heroic figure in my book. one of his students -- close associates won the nobel prize in economics in 1974. so he is an important character in my book. >> what does that mean? >> well, the austrian school is one of two major free-market schools of economics. the other school is the chicago school the milton friedman and george stevens developed in the 60's. and this is a more hard core school that advocates the gold standard. very suspicious of intervention, the centra

that final point than the financial crisis began to unfold and i've been following the austrian school of economics since two thousand when the dot com bust happened i was looking for a reason why because i was doing a masters degree at oxford trying to get into software and suddenly my investment in the books i was so i discovered the austrian school. the trade cycle predicted very much what happened then and what's happening now but i cast it aside because i thought if there was anything in it the economists and the politicians would sort out the monetary regime the banking system. and of course they didn't so when the crisis broke i was delighted i was still on a trajectory to parliament and i co-founded the compton center to try and get these ideas out in the public space one of the things that you've campaigned against quite vociferously is bailout does that mean that you think a lehman type event would be good for the e.u. economy well none of these things really are good the problem is not so much whether one piece of dreadful pain or another would be a good thing it's how to best get back t

see this is capitalism working this is the austrian economics school which is just the values in the mind of the beholder you think they like morally wrong or would approve of drinking hand sanitizer this is a little paradise let's say. well . that's great stuff but i did just this glue i don't know what those fancy hints about if you get a tube of toasters glue you can they will medical experts warn against ingesting hand sanitizer as it can result in similar symptoms as excessive drinking loss of consciousness vomiting a lack of impulse control for they're going to extraordinary trouble to experiment with ingesting a non consumable cleansing agent in order to catch a buzz may be a sign of substance abuse issues similar to drinking it is drinking very caring but i actually would out all you know no one's going to tell next to have those kinds of fun.

guess in america they're found this is capitalism working this is the austrian economics school which is just the values in the mind of the beholder you think they are like morally wrong would approve of drinking hand sanitizer this is a little paradise let's say. well . that's great stuff but i do use just this glue i don't know what those are all those fancy hints about if you get a tube with toasters glue you can they will medical experts warn against ingesting hand sanitizer as they can result in similar symptoms as excessive drinking loss of consciousness vomiting a lack of impulse control for they're going to extraordinary trouble to experiment with ingesting a non consumable cleansing agent in order to catch a buzz may be a sign of substance abuse issues similar to drinking it is drinking beer drinking basically would out all you know no one's going to tell next after those kinds of plus you know they're storing bass salt in injecting about twelve people just dripping paint off the walls and you know like heroin and generally going to the eyeballs maybe a lot of us are going to me and one of these stories along