that is what friedrich hayek made the point* very well that it is a complex world of what is going onut is easy to say would have been worse if we had not done it. it is hard to prove that then it is a religion of both sides. >> something i find offensive is we talk about austerity in the richest nations of the world d the largest govements the world has ever seen that when you talabout cutting 3 percent is austerity. with the rest of the planet that means your ki and belly is crumbling because they are hungry and the culture of calling what we're doing austerity is propulsive wheyou think about it in the broader scope of the global community and the people who really haveo figure ut what they will do next. john: with the critics call us as the austerity and it sounds like austrian economics which some of you know, about and i assume most don't know is there a connection? it is a play on words to make fun of the austrian economislike friedrich hayek that was skepticalf the keynesian prescription. its a little jab. i wear it proudly john: thank you. coming up, i will saul's our deficit

not those exact wos but i would like to think if friedrich hayek heard about the obama stimulus planve said somethin like this. ♪ the party is over ♪ ♪ are you kiddin conoco it works perfectly fine knockout there was a recession back in 200 no. things could have been worse john: that is what i hear the recession would have been much worse witho stimus spending and when unemployment is still hayek that is the time to spen and jump-start the economy. ♪ john it is an ennine that needs a spark a this makes sense to people so let's turn to the producers of that rap video that has received millions of views on new tube rs roberts a former mtv producer, keyn argued the economic slowdown is pre th pump like a car? >> it sounds good and3 liticians like it but doesn't actually work? >> when the stimulus plan worked using the keynesian model they said if we did not pass it unemployment could reach eight point* 5% we did and it went overtens of the del was wrong s there is hisrical example for more than a fancy statistical models and i argue the evans is a mixed john: plenty of people say unempl

make different choices about academic careers and in this connection he say no one other than friedrich hayek, a great conservative economist to set in 1949 for the exceptionally able men the multitude they going to log into the military where they feel more comfortable. liberals may dominate by default. conservatives have better things to do. these two explanations are different, so the first account is one that emphasizes some distinct episodes in the american past in the history at the university to develop this care are. the other explanation suggests and in a capitalist society conservatives are more likely to go in to business, more likely to be attracted to these other fields and here is where it would then very helpful although perhaps difficult it may be impossible to get evident about other societies. is this just a story about the united states? re: is there a more general pattern? my impression and i don't have any data, but my impression is the american academic world is not unusual, that this is true in many other places and consequently i'm in client and to be partial towards t