and i wondered, does he have any idea what milton friedman would be doing right now?nating is i think the ron paul base of the republican party has defeated dr the milton friedman base. i think what you're actually seeing more sort of hard moneyism take over republican party. we will discuss that some other time. msnbc political analyst ezra klein, also the "washington post" and bloomberg view. thanks for your time, man. >> thank you. >>> just ahead, a moment of geek starring birds. we'll explain. >>> america's secret remote control wars. just ahead. facial hair can be irritating. challenge that. new olay smooth finish facial hair removal duo. first a gentle balm. then the removal cream. effective together with less irritation and as gentle as a feather. new olay hair removal duo. >>> here's what we think modern american war looks like. troops say good-bye to their families. they ship out for places like iraq and afghanistan, where they fight insurgents, build alliances, try to help new governments get on their feet. too many of the troops come home injured. some of t

and i wondered, does he have any idea what milton friedman would be doing right now?ing is i think the ron paul base of the republican party has defeated the milton friedman base. i think what you're actually seeing more sort of hard moneyism take over republican party. we will discuss that some other time. msnbc political analyst ezra klein, also the "washington post" and bloomberg view. thanks for your time, man. >> thank you. >>> just ahead, a moment of geek starring birds. we'll explain. this new at&t 4g lte is fast. did you hear sam... ...got promoted to director? so 12 seconds ago. we should get him a present. thanks for the gift basket. you're welcome. you're welcome. did you see hr just sent out new... ...office rules? cause you're currently in violation of 6 of them. oh yeah, baby? ...and 7. did you guys hear that fred is leaving? so 30 seconds ago. [ noisemakers blow ] [ both ] we'll miss you! oh, facecake! there's some leftover cake. [ male announcer ] the new htc vivid. stay a step ahead with at&t 4g lte, with speeds up to 10x faster than 3g. ♪ what's goin

and i wondered, does he have any idea what milton friedman would be doing right now?lican party has defeated the milton friedman base. i think what you're actually seeing more sort of hard moneyism take over republican party. we will discuss that some other time. msnbc political analyst ezra klein, also the "washington post" and bloomberg view. thanks for your time, man. >> thank you. >>> just ahead, a moment of geek starring birds. we'll explain. ] you are a business pro. premier of the packed bag. you know organization is key... and so is having a trusted assistant. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above and still pay the mid-size price. here we are... [ male announcer ] and there you go, business pro. there you go. go national. go like a pro. her morning begins with arthritis pain. that's a coffee and two pills. the afternoon tour begins with more pain and more pills. the evening guests arrive. back to sore knees. back to more pills. the day is done but hang on... her

>> guest: milton friedman was another mentor to me. i was in chicago and milton friedman was doing a tv show where he talks to the young. he had done a show called free issues versus for free success. sequel called syria of the status quo and sat with young people and had a discussion with them about economics and i was then a democratic socialist and i was supposed to argue with him and i would memorize something i've read in a book or something and i would repeat the argument that he would destroy it in six words and the camera would linger on my face when one of was over and try and discuss -- think of something to say. after the show went on for a week he took us out to dinner and he would take these dinners to teach us about his view of the world and why he thought the way he did and how to approach economic and i never became a libertarian or as free market as friedman was but he expanded my mind of what was economically right and just in that week. kissel i had feelings later in life, those people with additional they want contr

followers of iran actually quote you and suggest your selfish gene metaphor and the economics of milton friedman or. and the modern libertarian movement are the same thing and that your selfish gene movement or your selfish gene. hypothesis is a assertion what. you'll have to fill in the word i'm sorry i don't have the correct word. and i would informs that not informs that movement but demonstrates the validity of of individual selfishness i'm curious how you would respond to those i'm sure i would decide in that one of the. prising things that happened after the sofa's gene was was published was that i started getting letters from right wing libertarians in america i've never even met a rightwing libertarian but they started writing to me and said total misunderstanding as i said before genes a selfish and that's nothing to do with whether individuals and selfish or other it's a very complicated relationship and in particular it says nothing whatever about the moral rightness or wrongness of being selfish you could take a stand on that which is based upon something quite different from my stan

>> guest: milton friedman was another mentor to me. i was in chicago and milton friedman was doing a tv show where milton talks to the young. he had already done a show called free to choose which was a success and he did a sequel called tyranny status quo and he sat with some young people and he had a discussion about people in economics and i was then a democratic socialist. i was on the left. and i was supposed to argue with him. and i would memorize something i just read in some book or something. and i would repeat the argument and he would destroy it in about six words. and then the camera would linger on my face while my mouth hung open while i tried to think of something to say but the really valuable -- after the show -- it went on for about a week. he took us out to dinner and he really took these dinners as an occasion to teach us about his view of the world and why he thought the way he did and how to approach economics. and i never became a libertarian or a free market as friedman but he certainly expanded my mind what was

richard john newhouse, milton friedman.and so you really saw this tradition of ideas, and i got there in the early 1980s when reagan was in power, and you got to see how the ideas led to the political movement, and you got to see the primacy of ideas. so he really lived full in a world of ideas and filled with debate and a world full of, you know, he had a tremendous energy and inability to sit still. i mean, when you would watch him write a column, he would just dash them out in 20 minutes. and if he'd taken 20 hours, it wouldn't have been no better. his mind was working at warp speed just churning out ideas. a complete inability to sit still. >> host: lee is joining us, san jose, california. what's on your mind? >> caller: well, hi. david, you've covered a lot of what i had in my mind during my wait. it just seems like there's a very noisy crowd of conservatives today who are just not so smart. in fact, maybe because you are smart they call you a republican in name only. you have real cred from, you know, pedigree. how lo

. >> eric: obama's fairness speech. 40 years ago, milton friedman gave is speech.gave a speech about fairness. what is fair. life isn't fair, people. there is no reason one guy can hit a baseball, albert pujols, earn $20 million a year and another guy strikes out. >> kimberly: he is a great guy and does a lot for charity. >> bob: the university of chicago -- >> kimberly: here is the deal. what i love about obama, he can be different people. abraham lincoln, j.f.k., then administration began to crumble and he became ronald reagan, the great communicator and he called him the givee gifr now. channeling teddy roosevelt. he wants to tell us that no matter what we are greater together. listen to this. >> some are collectin sufferingm collective amnesia. we are better off when everybody else is left to fend for themselves and play by their own rules. they're wrong. we are greater together than we are on our own. i believe that this country succeeds when everyone gets a fair shot. when everyone gets a fair share and plays by the same rule. >> bob: you know that people are

to quote milton friedman, when everybody owns something, nobody owns it and nobody has direct interestat is why you never poop in your driveway but a protesters would and has. just because they're evicted doesn't mean they're gone. far from it. i know, that word is always funny. activists say camps will return in spring with the large demonstration at convention. at this point i say this will be a make or break moment for president obama. does he reject calls for the revolution or stoke the fire. i remember bank ceos saying be careful, the administration is the only thing between you and the pitchfork. it look like he has already gotten out of the way. what is wrong with you people? >> andrea: i think bob, will go out on a limb and say i think you may or may not have disrespected your own property at some point. not the way that greg described. >> bob: these are eric's glasses and they may be the ugliest glasses. for a guy as rich as he is, he bought them for $17 at a drugstore. >> eric: 19.99. >> bob: you are making fun of the p.c. -- >> bob: 30-tons. i keep saying the tea party peopl

something which was obviously untrue and, as you pointed out, it was a conservative idea, the idea of milton friedmans a conservative icon, if you will. so just like the individual mandate was a conservative idea. so i'm a little flummoxed why he wouldn't want to embrace it and it's become toxic over there. so he out and out denied something that he'd clearly done. >> do you think that newt gingrich will be the nominee? >> i never thought so before. i'm shaken a little bit. but i think he's getting ready to have a very rough couple of weeks. i think the republican establishment, whatever that is, a lot of people in the republican party are very concerned about this. and i think today we saw a taste of what's coming. i think more and more's going to come. and it's going to be a pretty rough couple of weeks here. >> rich, two new polls today show newt gingrich still in the lead in iowa, but with the lead seemingly slipping, you used to work for gingrich, do you think he'll end up winning the nomination? >> i do not think so. from a tactical standpoint, james, and anderson, it sounds like all the primar

something which was obviously untrue and, as you pointed out, it was a conservative idea, the idea of milton friedmans a conservative icon, if you will. so just like the individual mandate was a conservative idea. so i'm a little flummoxed why he wouldn't want to embrace it and it's become toxic over there. so he out and out denied something that he'd clearly done. >> do you think that newt gingrich will be the nominee? >> i never thought so before. i'm shaken a little bit. but i think he's getting ready to have a very rough couple of weeks. i think the republican establishment, whatever that is, a lot of people in the republican party are very concerned about this. and i think today we saw a taste of what's coming. i think more and more's going to come. and it's going to be a pretty rough couple of weeks here. >> rich, two new polls today show newt gingrich still in the lead in iowa, but with the lead seemingly slipping, you used to work for gingrich, do you think he'll end up winning the nomination? >> i do not think so. from a tactical standpoint, james and anderson, it sounds like all the primari

the big difference between the vietnam war and the conflicts today is that thanks to milton friedman and richard nixon in the congress, we have an all volunteer military. every single one of those people who serve our country serve because they wanted to serve. they serve because they consciously decided they wanted to raise their hand and go and help protect our country. but not dedication and on the patriotism and that pride is so powerful. now, how does one answer that? spicing answer is that -- >> with the johnson people said he still pushed us to tell exactly what the sacrifices made for. does anyone ever do that when you see them? >> sure, sure. >> world war ii i assume that is not hard. but a war like iraq or vietnam or something that is not full throttle, what do you say? >> a war that his armies against navy, air force against air force, that is clear. that's understandable. it starts and ends. it ended world war ii on the uss missouri battleship at the signing ceremony. what went through the cold war was quite different. it was many decades long. it was an ideological compe

the first book is milton friedman and the monetary history of the united states, probably the single most important book of financial history about the united states, and it cop tans an extraordinary brilliant chapter called the great contraction about the great depression in the u.s.. now, the other book is bair's book "golden fetters" the international history of the great depression, the book that shows why a huge shock in the united states spread right around the world. now, nearly always, somebody has read one or the other of these books, and typically it's one person in a hundred. that seems to be an incredible indictment of the way we educate people. >> host: financial people you're talking about, not just anyone, but businesses with money. >> guest: people usually earning large amounts of money running or working for major financial institutions. the level of historical ignorance in the financial sector is absolutely astonishing. what this means is that since most people who have entered that profession have never formally studied financial history. the only history they know

the first book is milton friedman, monetary history of the united states. it is probably the single most important book of the financial history in the united states and contains a brilliant chapter called the great contraction about the great depression in the u.s.. the other book is very eischen green's book which is the international history of the great depression. that is the book the shows why a huge shock in the united states spread around the world. nearly always somebody has read one or the other of these books and typically it is one person in 100. and that seems to me an incredible advisement for the way we educate people. >> host: these are financial people you are talking about, not just anyone. >> guest: people who are usually earning large amounts of money from running or working for major financial institutions. the level of historical evidence in the financial sector is absolutely astonishing and what this means is that, since most people who have entered that profession had never formally studied financial history, the only history they kn

the first book is milton friedman, monetary history of the states can probably the single most important financial history about the united states. and it contains an extraordinary brilliant chapter called the great contraction about the great depression in the u.s. the other book is golden feathers which is the international institute, that's the book that shows what a huge shock in united states spread right around the world. nearly always somebody has read one or other of these books. typically it's one person in a hundred. and that seems to me and and credible environment the way we educate people. >> host: user financial people you're talking about, not just anyone but people, to give businesses money. >> guest: usually earning very large amounts of money from running or working for a major financial institutions. the level historically and financial sector is absolutely astonishing. what this means is that since most people who have entered the profession have never formally studied finest that the only history they know is the history of their own career. as i work on the average

milton friedman said the federal reserve caused the great depression. if you go along with that line of reasoning that the federal reserve allowed for monetary supply to grease did you look at this current crisis, would you say the federal reserve bears responsibility as well because of how they enabled the banks to go ahead to lend out, that would allow the mortgage industry to bear responsibility for creating regulations. what burden would you put on the federal reserve? would you propose the abolishing of federal reserve and if you would in what place? >> this could be a topic -- are will give a very short answers that we could honestly talk about a lot. a really good question. the federal reserve and wall street are symbiotic. printing money, making the currency achieved because the giving out cheap loans is what has pumped a lot of toxic assets markets and a lot of speculation and what allow the banks to survive when they shouldn't be solvent. banks that are using that money to speculate and leverage and do these other things. almost like the natur

the other was milton friedman which was central banks have to be rereally expansionary.sult level, it gets progressively harder to do more borrowing. that's why i have been skeptical of year upon year of stimulus in the u.s. without any sign of a fiscal balance even 20 years out. the big problem in europe has been the slow move by the european central bank to follow the example of the federal reserve. and which under ben bernanke did a very good job of counteracting potential implosion of the banking system after lehman brothers failed. really the europeans have been much slower on the uptick. what i see in berlin is a bizarre failure to learn the lessons of the great depression. i mean, remember what happened in germany. after 192 3 1, the complete collapse of democracy. you would have thought the germans learned how dangerous it is to mess around with an economic meltdown. >> you give credit here to bern bernanke. are you saying the world central bankers at least central bankers are doing the right thing here in the absence ever political leadership elsewhere? good ben

the big difference between the vietnam war and the conflicts today is that thanks to milton friedman and richard nixon in the congress, we have an all volunteer military. every single one of those people who serve our country serve because they wanted to serve. they serve because they consciously decided they wanted to raise their hand and go and help protect our country. but not dedication and on the patriotism and that pride is so powerful. now, how does one answer that? spicing answer is that -- >> with the johnson people said he still pushed us to tell exactly what the sacrifices made for. does anyone ever do that when you see them? >> sure, sure. >> world war ii i assume that is not hard. but a war like iraq or vietnam or something that is not full throttle, what do you say? >> a war that his armies against navy, air force against air force, that is clear. that's understandable. it starts and ends. it ended world war ii on the uss missouri battleship at the signing ceremony. what went through the cold war was quite different. it was many decades long. it was an ideological compe

the big difference between the vietnam war and the conflicts today is that thanks to milton friedman and richard nixon in the congress, we have an all volunteer military. every single one of those people who serve our country serve because they wanted to serve. they serve because they consciously decided they wanted to raise their hand and go and help protect our country. but not dedication and on the patriotism and that pride is so powerful. now, how does one answer that? spicing answer is that -- >> with the johnson people said he still pushed us to tell exactly what the sacrifices made for. does anyone ever do that when you see them? >> sure, sure. >> world war ii i assume that is not hard. but a war like iraq or vietnam or something that is not full throttle, what do you say? >> a war that his armies against navy, air force against air force, that is clear. that's understandable. it starts and ends. it ended world war ii on the uss missouri battleship at the signing ceremony. what went through the cold war was quite different. it was many decades long. it was an ideological compe

>> guest: i interviewed milton friedman twice. those are still popular.viewed nassim taleb three times. i hope to interview him again. those are very popular but maybe the most popular is like a number of deutsch diversity. he's the security guard and that opening scene of the fight for the century. he and i have a great report. he is a sort of -- he's been all i think 19 times in the program. brian katulis again he is. >> guest: like member is a professor of economics and political science at duke university. his frequent guest on podcast, econtalk and the cast him as the security guard. his the chauffeur in the first one to be tested a fan of the videos. we are buddies and he wanted to be part of it. c-span: what is the most enjoyable part of this for you? >> guest: it's just to have one thing to really think maybe the most enjoyable part of this is to we are actually having an impact on the world and what i think is a positive way. people are talking about these ideas and the feeling power and as russ said, we've got so much mail, not real meal, with e

milton friedman, they reject government intervention as i do.at you have just heard is the same idea of having more government intervention. the genius in the elite circles who think they know best what wage levels should be. they want to bring in more to bring the wages down. to benefit do? >> he says it would reduce wage inequality. >> my thinking is it is exactly the opposite. i want to bring wages up for everyone at every level, and my plan is the one that works. i will abolish the tax code. i will reduce the rates for businesses and individuals so we are among the lowest in the industrialized world. i will have a field day getting rid of government regulation, and what i am going to do i think is further than what any other candidate is willing to do. i want to dismantle the modern welfare state, because if we do that, we can get our budgets to balance. we cannot balance our budgets with the welfare state and we have today. >> let me give you a softball. >> i have the best record of any of the candidates on immigration, because i will addre