keynes went to eaton, and he went to cambridge, fancy british schools. he cavorted with this free, wheel, free-love, socialist bisexual clique when he was in his 20's or so. you can't get further away from rawway, new jersey, as that. and the point of all this is that sometimes people who live in comfort are the only ones who can really afford to have ideas that don't work in the real world. here was a guy, keynes, who was living up in in the ether, and he pushed a lot of ethereal theories and i don't think you can say that about milton freedman, he wasn't just an economist who appealed to other economists. won the nobel prizin' 1976. part of the reason why so many noneconomiests know freedman is because he was able to pass on interesting complex ideas to the layman. he did it in his book, and he certainly did this on pbs with his ten, part series, free to choose. and free to choose, competing with the likes of the dukes of hazard and the jeffersons are drug -- drawing millions of viewers. the viewers were watching the 1970s turn into the 1980s and the t

maynard keynes went to eat-in and fancy other british schools. he cavorted with the socialist bisexual click known as the bloomsbury group. you really cannot get further away from new jersey as that. sometimes people who live in comfort can afford to have ideas that the work in their real world. keynes was living up in the third. he pushed a lot of ethereal theories. you cannot say that about mehl turned -- milton friedman were also say he was just an economist that appealed to others. winning the nobel prize 1976 but the reason why so many others know of him that these of which she could convey complex idea is to delay man. he did this sta starting in 1966, his book and certainly on pbs with his tempore series free to choose. competing with the likes of the dukes of hazzard drying millions of viewers every week in the 1980's. i don't know if that point* will comprehended what they were watching watching the seventies turn into the 80s and the template layout was the policies partly here and partly a broad. and he related very interesting story a

. >> as keynes said, when the facts change, i change my mind. what do you do? we do try to do that. one of the things we focused on his whole notion of clean energy innovation. initially we had this view that we were a little bit farther along than perhaps we might have been. as we look into the data and stated the technology, it argues a little different. we are further away than a lot of people in washington think. these technologies are not really ready for prime time. the goal is to get the technologies cheaper than oil in a subsidized way, and we are not there yet. we have to think of another way. >> how are you funded? >> in a variety of sources, foundations, individuals. we occasionally will receive government grants for work they want us to do and also companies like our position or that our views, approach. >> do you have any great successes you can point to? can you point to something and say we did that or that is happening because of us? >> a couple of things. probably the leading advocates in washington for the expansion of what we call the research and development tax

. >> as keynes said, when the facts change, i change my mind. what do you do? we do try to do that. one of the things we focused on his whole notion of clean energy innovation. initially we had this view that we were a little bit farther along than perhaps we might have been. as we look into the data and stated the technology, it argues a little different. we are further away than a lot of people in washington think. these technologies are not really ready for prime time. the goal is to get the technologies cheaper than oil in a subsidized way, and we are not there yet. we have to think of another way. >> how are you funded? >> in a variety of sources, foundations, individuals. we occasionally will receive government grants for work they want us to do and also companies like our position or that our views, approach. >> do you have any great successes you can point to? can you point to something and say we did that or that is happening because of us? >> a couple of things. probably the leading advocates in washington for the expansion of what we call the research and development tax

in the technologies of the future and in renewable technologies i think in a way marx went beyond keynes whose analysis of underconsumption crisis is rather similar to marx's overproduction analysis but marx has more of an emphasis on the need for public entrepreneurial ism for public agencies to begin taking steps and i think that that is almost certainly what is required in the in the thirty's you've got dramatic developments like the t.v. . for example passive hydroelectric project which generated income on the mall serve cause massive amounts of electricity and reasonably renewable power and that was a signature program of the new deal ridiculous to say inspired by karl marx but actually it was congress with is thought there and of course america marxist did very much support the new deal. those who interpreted marx to mean that a command economy would work well have been disapproved and the soviet economy as we know collapsed but we see other countries like china have actually managed to bring about some sort of dramatic economic development and we find that forms of public entrepre

of keynesianism so how is it different than dr oz and then one is already one already exists well keynes was hoping that new credit would do what a government deficit would do that new credit would be used to work on new investment. but our investment in motion but today's new credit doesn't do their credit is extended to date to take over a company and buy property and real estate was already in place but almost all the new capital investment in the american economy is funded by the retained earnings of corporations not credit so the financial sector has spent decouple from the production sectors and i what we want to do it missouri is reunite the sectors and modernize an industrialized credit for what people expected the banking system to be a century ago openly industrial revolution was still gaining power prices and they pass a city university santa city gang hangout is the antithesis of what's happening at the chicago school of economics. we know that there's a heavily influenced cell like component from the congo school that informs people like christine legarde is narrowing the i.

final yesterday little to stoke city to what is now scotland kilmarnock stunned celtic one milton keynes scottish league cup the first time although their cheating was soured by the death of the father of their midfielder liam kelly after suffering a heart attack in the gag is died his dad died later in hospital winning goal came from vi to van paul put there just minutes from the end cell to go still on course to silverware and now turn their attention to the scottish cup and a set so when they leave. meanwhile bolton midfielder fabrice muamba remains in a critical condition after suffering a heart attack during saturday's f.a. cup quarter final of tottenham he remains in intensive care at a london hospital only twenty three year old collapsed during a game with spurs which was abandoned as a result bolton shared julie match against aston villa on change there has also been canceled in the meantime thousands of fans and well wishes have been laying flowers at bolton's report stadium manager open call thanks everyone for their support we have over all those i think we all recognise of a

law will be rejected or not it isn't democracy that's a kingdom with the supreme court justices as keynes if you really want that kind of country remember you can't vote the supreme court out of office in that same letter jefferson talked about how the appointed senate and supreme court would defend the rich as the senate did until we had meant of the constitution in one nine hundred thirteen so that we the people can now directly elect our senators jefferson wrote that he and the other progressives of his era want to people to have the most their object is to secure self government by the republicanism of our constitution as well as by the spirit of the people and to nourish and perpetuate that spirit i am not among those who fear the people they and not the rich are our dependence for continued free. then over a dui lars seventy seven said the buck raises stop so far there are plenty of things the founders did not anticipate in a functioning democracy the supreme court is not corrupt and therefore would be competent to handle things like this actually the founders did in to support this

you would think there had there would be many books about milton friedman as john maynard keynes but there is not. there's a book coming out about eric hoffer but there hasn't been a thorough biography of eric hoffer and i can tell you something eric hoffer is a lot more interesting than so many other people who have many biographies read about them. the point here is that non-blue-collar intellectuals have really overlooked the blue-collar intellectuals that i write about. they are not very interested in them because the blue-collar intellectuals for having a conversation with all of america and intellectuals tend to be distant people who are having conversations with other intellectuals and intellectuals love to write about other intellectuals. these guys not so much. and that is one of the reasons why i wrote this book. red berry is not shakespeare or anything like that but you would think a guy who has put together 600 stores and had his own televisions show in the 80's and wrote for radio in the 1940s, a career spanning decades and decades that they would be more written about t

i would compare a guy like free men to someone like john maynard keynes, the other huge economist in the 20th-century. he comes from -- his dad was a professor. his mom was a professional do better. he -- you know, cavorted with this free-wheeling free love click in the 1920's. really never worked outside of academia our government. and so my sense is if you live up in the ether your feelings a going to be from the the. milton friedman was someone his economics work because he worked. he worked in the real world, and so he put forward real-world economics. the people that i've read about in the book, because they come from a background that people can relate to, my sense is that they can relate to people better. >> we have been talking here on book tv with dana flynn, his most recent book, blue-collar intellectuals from the enlightened and the everyman elevated america. >> here is a list of books being released by publishes this week. former pennsylvania senator arlen specter recounts the political debate that led to his switch in political party in life among the cannibals to my pol

keynes justified term of short term action. not a way of denying in the long run we are all dead and the more years we drag on doing the same old thing the closer we are to dying and that's why we had better start paying attention to it. this is not a long-run sustainable policy. monetary policy a way of buying time and if we don't use the timewisely, we're just running up a bill without having solved our problems. >> we're going to go to questions. please state your name and affiliation. >> peter tanis. mr. lindsey, what, the example you cited border adjustability which was very clear and very interesting, wouldn't we accomplish the same thing by 150 other countries do by imposing a value-added tax? >> absolutely. my, i didn't get this chance, i once testified before the senate in fact i was on a panel of four people. this is clear across the political spectrum and we didn't compare notes before we went in and what we told the senators was, all four of us was, you know, we should have value-added tax. the senators then proceed