thirty's forty's the milton friedman model when when milton friedman himself tried to chile it produced a disaster and virtually every other country around the world with the chicago boys as they call themselves when they show up countries implode why why the montreux why is that model still being believed and used why imposed on others i think the important thing to start with here is that the u.k. and the u.s. are not greece and greece is not the u.k. or the u.s. the united kingdom and the united states are both big dynamic economies austerity measures are not the answer for these economies greece however is in a very different situation they have really believing levels of debt interest payments on those that are killing them right now and it's really important that they you know to everything in their power both on the spending and on the revenue tax collection side in order to get their economy back on track and the international monetary. fund and the european countries you know france germany they need to get behind supporting greece because if greece goes down and defaults on it

milton friedman always did, he was perfect for that, and hayek was the counterpart. i mention friedman because hayek founded the society in which there were people from liberals from germany, and friedman from chicago and people all over the spectrum with lots of different visions as to what a free ci

>> i interviewed milton friedman twice. those were popular. he has been on this 19 times.lligible] he is a frequent guest on my podcast. we cast him as the security guard. he is a big fan of the videos. he wanted to be part of it. he has cameos in both of them. >> what has been the most enjoyable part of this for you? >> i think maybe the most enjoyable is an impact on the ideas. they empower it. we have gotten so much mail and messages from people that are discovering economics in the way i did but through our videos. to sort of have discovered these ideas in this bizarre way for myself and they can to be back to that sort of community and that full of knowledge is really amazing. i get emotional thinking about the fact that i am fortunate enough to get to do this. >> what is next? >> i do not know. we are at the end of that. we spent a lot of time thinking about that last 35 seconds. it might be the last time we see keynes and hayek on the screen. we know them personally, but to me they are keynes hayek and probably. i hope we will collaborate on something different. >>

well that's a whole other argument that we have seen that played out i mean you're talking about milton friedman and and chill a. happened in the many of the former soviet soviet states you know it's more like what they tried in argentina from one thousand nine hundred ninety eight to two thousand and two and actually that's a good comparison because argentina after suffering through three and a half years of recession trying to do these policies that they're imposing on greece and ireland and portugal and spain they said you know and they did very well the economy shrank sharply but only for one more quarter and then it grew sixty three percent over the next six years and pull the eleven million people out of their own some quick stats you know the stories that we're hearing in the in the in the general media that the greeks are lazy in fact they these are o.e.c.d. statistics they work an average of twenty one hundred twenty hours a year that's six hundred ninety more than a german four hundred sixty seven more than in the u.k. three hundred sixty five more than the o.e.c.d. average greek paid

milton friedman just had some terrific ideas. i think that politically may be more people, more politicians that would emulate his thoughts -- i speak now about school choice, and drug reform, drug policy, taxes, spending. i just have found him to be the role model. >> governor jerry -- gary johnson, we thank you for your time. >> is it done? while. thank you for your time. thank you very much. >> our pleasure. >> now another republican presidential -- presidential candidate, tim pawlenty. he accuses president obama of practicing class warfare. the former minnesota governor also laid out his economic plan. this is about 45 minutes. [applause] thank you for the introduction. thank you for the hospitality of the institution to this gathering. i am grateful to have the opportunity to be here at the university of chicago. this is the home of the best free-market thinking in the country. we need significant and dramatic economic growth. the principles that have been debated in this institution over many generations form the core of th

what we know is-- milton friedman a very famous economist. >> rose: nobel laureate. >> and good friend, at inflation is always the result of a monetary cause, that is prices are defined in terms of the ratio of a good to the amount of money. and you have an excessive amount of ney, eventually it will cause the price of a particular good to go up. and that's always been the case. it's just the question of the timing isften very delayed. >> rose: the debt ceiling. how do you few the debate that's going on in waington between republicans and the administration? >> well, first of all, charlie, i think the concept of the debt ceiling makes no sense to me whatsoever. because we have in place appropriations which are passed by both houses, signed by the president, a tax code which has theame characteristics. and unless you are peculiarly inincapable of arithmetic, you can tell what the increase in the debt has to be. so on the one hand, past legislation on expenditures and taxes and then superimposed on i,nother piece of legislation which stipulates that irrespective of what you've done in th

>> i think you could call him a political figure, but milton friedman really just had some terrific ideas, and i think that politically, maybe more politicians that would emulate his thought, and i speak now about school choice, drug reform, drug policy, taxes, spending. i just have found him to be that role model. >> governor gary johnson, we thank you for your time. >> is it done? wow. thank you very much. >> our "road to the white house " coverage continues with former senator rick santorum. he cited president obama's health care plan as one of the reasons for him to run. standing in front of the somerset county courthouse in pennsylvania, this is about 40 minutes. [applause] ♪ [cheers and applause] ♪ >> thank you, everyone. that was so encouraging. good morning, pennsylvania, and good morning, somerset county. it is wonderful to have you here with us today, a special place for our family. we are surrounded by the greatest blessings in our lives, our seven wonderful children. [applause] elizabeth, john, daniel, sarah malia, peter -- where is peter? patrick, and isabella. we just celebr

milton friedman always did, and hayek was his counterpart. he found the the society in which there were people who were order liberals from germany, friedman which chicago, and people from all over the spectrum with lots of different visions as to what a free society would look like. he was referring to articulating to general principles. he didn't get to specifics, but i think it was intentional and reflected his general views that when dealing with complex phenomena, sometimes as far as you get is regime principles and leave the principles to others. >> i'm afraid our time is now up so -- [laughter] thank you. [laughter] [applause] >> the university ever chicago press republished the institution of liberty. for more information visit press.uchicago.edu, and search the book's title. >> the title of your book is in the middle and on the the edge, and the process you mentioned has been only middle and edge on different parts of civilization. what do you mean by that? >> well, cliff falls is locateed by lazy, and those areas were watered, larger

milton friedman. he had some terrific ideas, and i think, politically, more politicians that would emulate his thoughts. i speak now about school choice, drug reform, policy, taxes, spending>> kevin r. gary johnsok you for your time. >> thank you for your time. >> our pleasure. >> better today, tom vilsack will give a speech on global food security ahead of the g-20 agricultural summit in paris rid expected to touch on scientific innovation, global population, energy needs and climate change. live coverage starts at 1:00 p.m. eastern time on c-span. both chambers of congress in session. tomorrow, the senate will consider to the judicial nominations for federal courts in new jersey and will begin work on an economic development administration bill with a procedural vote scheduled at 2:15 eastern and ethanol tax revisions. you can follow the senate live on c-span2 the house returns today. spending for military construction and the veterans affairs department. you can sue the house live here on c-span. -

milton friedman was driving through the countryside in europe and he saw with his post men digging ditchesuilding roads with shovels and asked the host why they were not using heavy machinery, why not bulldozers and tractors and the host said this is to keep in place at high and the road construction industry that if they use heavy machinery there would be less workers so there would be higher unemployment and give them spoons and increase employment? [laughter] >> we've gone from a chicken in every pot with herbert hoover to a spoon and for every worker with barack obama. [applause] there is an alternative. the alternative is the belief in the american people, not in washington. [applause] there is an alternative. there is an alternative called a higher power predestine us to be the last best hope for mankind. there is a high your power and there will come a last day and we must fight until the last day comes and guess what on that last day those of us to fight the good fight we win. some people may not like to look at it that way there's a struggle going on now between freedom and equali

buckley and milton friedman. neither one of them ever ran for president, but they were great for influencing the conservative movement. host: in san francisco, calif., doug is also calling in supporting a conservative candidates. caller: i am not a new gingrich supporter. however, i do support republicans who speak their mind. i do support ron paul. i wish newt gingrich would maintain his role as a voice as a voicerdancthe curtains of urging the movement forward, but not being its leader p [er se. host: if you support newt gingrich, there is a line for you. we have not had any of those calls yet. in fort worth, texas, betty joins us. good morning. what do you think about newt gingrich, as a democratic caller? caller: i personally have never considered him a very viable candidate. i have to agree with the person who said he was just promoting his book. i would stay here instead of going on vacation and do some actual work. as far as rick perry trying to move into his place, you might want to take a look at a star-

alan greenspan's point about trading jobs creation reminds me of the story about milton friedman has said cheney early in their reforms must take colossal civil engineering projects and he was very strapped. very little heavy machinery speedy's. just thousands of guys with shovels. so he pointed this out instead wired shoe using heavier to equip and so on i visited well,, as job creation. friedman said well, as job creation. whether you take away the shovels and give them spans? that's just on the economics. i've agreed essentially the point mr. greenspan made. i want to put a more political question to you. i understand of course the politics of trade reform is incredibly difficult and you have to make this case to a skeptical public. i know how that is. but isn't there a problem with the emphasis both on opening markets overseas as a way to create jobs? in other words, export equals jobs. combining those especially with this theme, which are priced quite hard about other countries being -- played in bad faith in this process, but the art doing what they promised. if you establish t