. >> caller: thank you very much i would add jeremy benson to your list as well. but professor, i have two quick questions, i hope they are quick. the first is what are your feelings about state owned bank similar to what they have in south dakota? where the capital for lack of better term, stays in the state in the gets redistributed to different projects, infrastructure projects and the other one in terms of socialism, my understanding and i am a biologist not an economist. socialism is government control of production and i just can't see how supply and demand can work in our medical system. so socializing the insurance, which pays for -- medicare for all, as an example seems to me a decent idea because there is a needo of a drug they're going to pay anything for it to save their life. >> host: before we can answer scott, scott hung up. as can ask them who is jeremy bentham. >> caller: he is the founder of utilitarianism. the ideasm that became a very big and important idea in economics that is maximizing utility, as he called it, that drives people. i think it

i would add jeremy benson to your list as well, but profess professor, actually i have two very quickions, i hope. they are quick. the first is, what are year feelings about state owned bank similar to what they have in south dakota? where the capital for lack of better term stays in the states and then gets redistributed to different projects, infrastructure and projects for mike and what is your second question? >> the other one in terms of socialism my understanding and i am a biologist not an economist socialism is government control the production and come i just can't see how supply and demand can work in our medical system. so, socializing the insurance which pays for medicare for all as an example seems to me a decent idea because. >> i understand. there's the needed overdrive to pay their save their lives so pay anything for. >> before we get an answer from doctor, cemex that got hung up, i was can ask them who is jeremy bentham is. >> he is the founder of utilitarianism. the idea that became a very big and important idea in economics that is maximizing utility as he called i

but where we would disagree, jeremy benson but he mentioned before, this is his formula and he wanted to engineer everyone's life which then became actually the design of modern prisons whether it is a central guard place where they watch all the prisoners over time and that is kind of his vision for society and i'm very disturbed by it as many people were at the time. i think it is much better and here i think that they will actually agree it's bee been an friends a lot as i explained to my host and i think that you would agree h the french cuisine comes from thousands of housewives and a lot of men thinking up not some plan to make the french cuisine good. if that worked, the germans would have the best in the world. >> host: christopher posted on the facebook page of shouldn't be a dichotomy between capitalism and socialism. some things are left to the free markets. health insurance for instant should be a public good it should be extended 6 to everyon. >> guest: because monopolies that make american medicine expensive but before you throw more money at it after the monopoly has be