intellectually, this could not have happened if it were not for glenn hubbard, stan and glenn haidt.[applause] our wonderful trustees, scholars and staff and the entire community and especially today, my deep gratitude for all of his work for many decades it has changed all of our hearts, his holiness, the dalai lama. [applause] stay with us. we are just getting started. we are going to change up the program in the audience. [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] >> welcome to everyone in the second session. my name is arthur. i'm the other arthur. i don't think that you will be too confused. let me begin by thanking arthur brooks from the aei with their kind invitation to join this distinguished group of presenters this morning and also d

think that goal is morally right but i also think it's economically achievable. >> thank you, glenn hubbard. your holiness, dr. hubbard has told us that the free enterprise system is naturally the most moral of economic systems, but that we have much more to do to include more people in its blessings around the world. you agree with this? and how can we make it more effective? [speaking in native tongue] >> yes. first, when you mentioned -- [speaking in native tongue] >> translator: one of the questions you asked her students, what was why aren't everybody rich, why haven't we been able to make everybody rich? so his holiness was wondering, what sort of criteria are you using their in terms of someone being rich? >> all i meant by that statement was the idea that, why isn't the whole world as prosperous as the most prosperous country? so why is it that the united states is a rich country when other countries are not? what is -- it's a hard question. >> i think you used the word rich as that meaning rich, billionaire, that's impossible. everyone a billionaire, impossible. then perhaps billio

glenn hubbard is the dean of the columbia business school. loeb, theis dan founder of the hedge fund. on the far end is jonathan height. men have donehese foundational work in their respective areas. this is about the nature of human happiness and the morality of the free enterprise system. each one will get their perspective. if we have time, we will have some questions from the audience. we will follow this with a second session from our wonderful friends. this organization is completely changed the debate about the conjunctions between psychological life, the human brain, and the nature of the truly flourishing existence. we have a lot in store for you today and we are delighted to be with you and his holiness. would you like to start with some opening remarks? nothing? starts, soa new day i am moving forward. seek apose is to try to happy life, and happy individual. community.y, happy ultimately, a happy world. we are part of the world. happy world from government through the united nations, from humanity is a combination of 7 billion ind

glenn hubbard. dr. hubbard has told us a free enterprise system is naturally the most moral of economic systems but we have much more to do to include more people from around the world. do you agree with this and how do we make it more effective? >>. >> translator: one of the questions you ask your students why isn't a pretty rich? why can't we make everybody rich? so what sort of criteria are you using? >> i just meant was the idea is why isn't the whole world as prosperous as the most prosperous? why is it the united states is a rich country with other countries are not? >> you use the word rich. that meeting which. that is impossible. [laughter] then perhaps. [laughter] but to the point yes they have activities is individual initiative. as i mentioned before. therefore the whole world a matter how much the effort it takes but then there is china. then they feel compelled. it is a capitalist system. things have been very, very realistic but the reality seems to change. just like that. so that really b

also on this panel the former chairman of the president's council of economic advisers glenn hubbard.t's live here on c-span2. [inaudible] >> i think not like ancient times. some people come from outside. okay. america i think is like that.