. >> what do you do at duquesne university? >> i'm a professor of economics so i teach economics, my specialty is statistical analysis but i spend time writing off heads with podcasts, words and numbers which i encourage you all to listen to and we talk about the application of economic fall to current events so for example in the book we have a chapter on the knowledge problem and the knowledge problem says simply look, a single person can't contain in his or her head all of the information necessary to make decisions for others that are better than those others can make for themselves . so when we allow these governments to take on too large a role in making decisions for us, we end up with bad outcomes. i give you a good case in point is our war on poverty. the poverty rate in this country was falling dramatically up until we reinstituted the war on poverty. once reinstituted the war on poverty this decline in the poverty rateflatlined . and it stayed at about 13 percent ever since the war on poverty began. and we have devot

. >> what do you do at duquesne university? >> i'm a professor of economics, so i teach economics. my specialty is statistical analysis, but i spend a lot of time writing op eds, we have a podcast, words and numbers, which i encourage you all to listen to, and we talk about the application of economic thought to current events. so, for example, in the book we have a chapter on the knowledge problem. the knowledge problem says, simply, look, a single person can't contain in his or her head all of the information necessary to make decisions for others that are better than others could make for themselves. so when we allow the government to take on too large of a role in making decisions for us, we end up with bad outcomes. i give you a good case in point is our war on poverty. the poverty rate in this country was falling dramatically up until we instituted the war on poverty. once we instituted the war on poverty, this decline in the poverty rate in the united states flatlined. and it stayed at about 13% ever since the war on poverty began. and we have devoted trillions, literally tr