told milton friedman the theory people are spending other people's money on other people either cost or quality matter. i would rather they spend other people's money on themselves because the lease the quality matters if i spent it that night by the best suit i can find but when you spend taxpayer money on other people equality does not matter either and that is ridiculous decision making you don't think there is waste in our budget? it is absurd how much waste literally. if i could add one more thing. on the other front i'm in to end the segmentation but the lobby front that has been going on for yarns but the source of all of our problems there is a tax code if i could give you a tax break and not give it to the blue suit company give you the competitive advantage in the field that you don't have now you pay be back with the donee -- campaign donation you realize that ripple effect will supply data on thousands over decades? they think about how many value misjudgments because i could give you a tax break? it is no small item. why do you think go left fight so viciously because th

you can't get much more right wing in milton friedman and when godly on the far left wing and one of the right instructors of non-orthodox know an equilibrium approach. to economics and both of them said the road was the protection of you waiting to happen about ten years before it came into existence and i was sort of god when god leaves making the best statement about it and saying that the people who put the road together. because they didn't establish a treasury but they do this at which the central bank must believe that a central bank is all that's necessary and therefore the capitalist economy necessarily which is equilibrium in harmony without needing external intervention from a government sector because that's wrong you're right there's not a non-issue by the way he said this will ultimately lead to a process when the private sector has a financial process and the only expect from this process will be by the immigration will stop action now when he wrote that not in ninety two and beloved in review of books he would have been scoffed at this in extremis alarmist. apparently

you can't get much more right wing milton friedman and when godly on the far left wing and one of the right instructors of non-normal the docs know an equilibrium approach to to economics and both of them said the road was the protection of the waiting to happen about ten years before it came into existence and i sort of god when god leaves making the best statement about it i'm saying that the people who put the road together. because they didn't establish a treasury but they do this at which the central bank must believe that a central bank is all that's necessary and therefore the capitalist economy necessarily which is equilibrium in harmony without needing external intervention from the government sector because that's wrong you wrote this not in ninety two by the way he said this will ultimately lead to a process when the private sector has a financial process and the only expect from this process will be by the immigration will stop action now when he wrote that not in ninety two and beloved in review of books he would have been scoffed at this in extremis a law must. occur in

john: by milton friedman. get a right. [ male announcer ] this is the story of the little room over the pizza place on chestnut street the modest first floor bedroom tallinn, estonia and the southbound bus barreli down i-95. ♪ this magic moment it is the story of where every great idea begins. and of those who believed they had thpower to do more. dell is honored to be part of some of the world's great stories. that began much the same way ours did in a little dorm room -- 2713. ♪ this magic momen ♪ everybody has a dream. mine was to see the ocean. and with a little help... i made it. of the dusty basement at 06 35th street the old dining table at 25th and hoffman. ...and the little room above the strip mall f roble avenue. ♪ this magic momt it is the story of where every great idea begins. and of those o believed they had the power to do more. dell is honored to be part of some of the world'great stories. that began much the same w ours did. in a little dorm room -- 2713. ♪ this magic moment ♪ >> i pledged to

john: by milton friedman. up next celebrities who do get a right.ture of all life on earth hangs in the bance what happens next depends on us ♪ well you done done me and you bet i felt it ♪ i tried to be chill but you're so hot that i melted ♪ i fell right through the cracks ♪ now i'm trying to get back ♪ before the cool done run out i'll be giving it my bestest ♪ and nothing's going to stop me but divine intervention ♪ i reckon it's again my turn ♪ to win some or learn some ♪ but i won't hesitate no more, no more ♪ it cannot wait, i'm yours ♪ open up your mind and see like me ♪ open up your plans and damn you're free you'll find that the sky'snd yours ♪ so please don't, please don't, please don t ♪ there's no need to complicate ♪ cause our time is short ♪ this oh, this oh, this is our fate ♪ i'm yours >> i pledged to be of service to barack obama. >> i pledge to be a servant to our president. john: they sure drink the kool-aid. but why do so many loved politicians to push bigger government? they are not all stupid? some are but part of it is always

told milton friedman the theory people are spending other people's money on other people either cost or quality matter. i would rather they spend other people's money on themselves because the lease the quality matters if i spent it that night by the best suit i can find but when you spend taxpayer money on other people equality does not matter either and that is ridiculous decision making you don'th

john: by milton friedman.get a right. [ me announcer ] this is the story othe dusty basement at 06 35th street the old dining table at 25th and hoffman. ...and the little room above the strip mall f roble avenue. ♪ this magic momt it is the story of where every great idea begins. and of those o believed they had the power to do more. dell is honored to be part of some of the world'great stories. that began much the same w ours did. in a little dorm room -- 2713. ♪ this magic moment ♪ >> i pledged to be of service to barack obama. >> i pledge to be a servant to our president. john: they sure drink the kool-aid. but why do so many loved politicians to push bigger government? they are not all stupid? some are but part of it is always the tendency to support what their peers support and hollywood supports liberalism but why did it becomes a leftist? i have some theories. because so many actors are good-looking men - maybe the became famous through a luy audition or a lucky break for good looks so government must i

john: by milton friedman. [ male announr ] this is the story of the lile room over the pizza place at 315 cnut street. the modest first floor bedroom in talln, tonia and the dusty basemt at 1406 35th street. it is the story of the old dining room table at 25th and hoffman avenue. the southbound bus barreling down i-95. ...and the second floor above the strip mall at roble and el camino. ♪ this magic moment it is the story of where every gre idea begins. ♪ so different and so new where those with endless vision and an equal amount oaudaciousness believed they had the power to do more. time and time again. ♪ and then, it happene at dell, we're honored to be part of some of the world's gat stories. stories that began much the same way ours did. in a lite dorm room -- # 2713. ♪ this magic moment ♪ >> i pledged to be of service to barack obama. >> i pledge to be a servant to our president. john: they sure drink the kool-aid. but why do so many loved politicians to push bigger government? they are not all stupid? so

hn: by milton friedman.o get a right. [ male announcer ] this is the story of the little room over the pizza place on chestnut street the modest first floor bedroom in tallinn, estonia and the southbound bus barreli down i-95. ♪ this magic moment it is the story of where every great idea begins. and of those who believed they had thpower to do more. dell is honored to be part of some of the world's great stories. that began much the same way ours d in a little dorm room -- 2713. ♪ this magic moment ♪ >> i pledged to be of service barack obama. >> i ge to be a servant to our president. john: they sure drink the kool-aid. but why do so many loved politicians to pushigger government? they are not all stupid? some are but part of it is alwayshe tendency to support what their peers support and hollywood supports liberalism but why did it becomes a leftist? i have some theories. because so many actors are good-looking men -- maybe the became famous through a lucky audition or a lucky break for good looks so govern

john: by milton friedman. up next celebrities who do get a right. life could be hectic.working mom of two young boys angie's list saves me a lot of time. after reading all the reviews i know i'm making the right choice. online or on the phone, we help you hire right the first time. with honest reviews on over 720 local services. keeping up with these two is more than a full time job, and i don't have time for unreliable companies. angie's list definitely saves me time and money. for over 18 years we've helped people take care of the things that matter most. join today. imany cold medicines may raisee your blood pressure. that's why there's ricidin hbp it relieves cold symptoms thout raising blood pressure. so look for powerful cold medicine with a heart. coricidin hbp. >> i pledged to be of service to barack obama. >> i pledge to be a servant to our president. john: they sure drink the kool-aid. but why do so many loved politicians to push bigger government? they are not all stupid? some are but part of it is always the tendency to support what their peers support and ho

the milton friedman's theory. when other people spend other people's money on other people neither posh nor quality will ever mater. it is true. i would rather other peoples and other people's money on themselves. at least the quality matters if not the cost of. spending your money on something, for me i will buy the best suits i can find. at least we are incentivizing quality but when you spend taxpayer money on other people the quality doesn't matter either and that is how you get ridiculous decisionmaking multiplied by thousands. you don't think there is waste in our budget, folks, it is absurd how much waste is in our budget. is absurd. one more thing on that. on the other front because i mentioned the segmentation of federal law enforcement but the other side didn't dig into too much. the law the front, lobbying has been going on for eons, it is nothing new but the source of all of our problems there is the tax code. if i can give you a tax break because you may make a gray

and so i would say, look, i'm with milton friedman. i say, use a guaranteed basic income. for everybody over 21. deposit it monthly into -- electronically into a known bank account, nathat's a very key thing, and let people take their lives back into their own hands. they'll have the wherewithal that they can deal with the necessities of life. if they can't do it, they have to talk to friends, neighbors, churches, the community. they have to make their case. i think that's a better way to go. >> you wrote a book about this. >> called "in our hands." yeah. >> i'm going to push back. first, i would say his better book is "in pursuit of happiness and good government." which really brought my mind around. but you're telling me, you're going to give them the money, and the crack head is going to spend it all in two months and the social worker is going to go on tv and say -- >> no social worker. >> somebody, the "new york times" reporter will go on and say you're going to let this woman's children starve? it's not their fault? and then we have a whole new program. >> here's wha

70s there was a congressional hearing, and there was a debate between general westmoreland and milton friedman. and this was right at the time the u.s. was transitioning from a draft army to a volunteer army, and westmoreland was complaining he did not want to lead an army of mercenaries. that's what he called the u.s. military as an all-volunteer army. and friedman's response, well, sir, if you lead an army of mercenaries, then i am served by a mercenary lawyer, a mercenary butcher and a mercenary barber, and that was the last the general spoke of mercenaries. [laughter] look, you're even doing something because you're paid, you're compensated a fair wage for it or not, and if you're doing it because you're coerced or not free, then you're a slave. so the idea of guys getting aid an outrageous wage beyond what the military gets paid, we did plenty of apples to apples comparison and so did the gao, that daily wage always sparks people's interests they think the guys get paid so much more, and it's just not accurate. typically, our guys get paid every day they're in the hot zone, okay? but the

milton friedman said there is no thing like a green lunch. the consumer ultimately pace. whether liability is only $50. class-action lawsuit with target is billions of dollars most likely. who do you think will pay for that? there is real impact. it doesn't hit you like a ton of bricks over time they don't feel it but eventually you feel in the pocketbook. melissa: peter, when i herd the idea behind snapchat you take a picture and show it to someone. >> deletes itself, quote, unquote. melissa: explicit photo you don't want out there forever it is going to disappear. i immediately laughed hysterically when i heard it came out, nothing you do ever disappears. >> i have friends that use it. totally safe. melissa: why would you think it is totally safe? >> people are cheap. here's the interesting thing. we're in the last generation now of kids who have any concept that there is any privacy left. the next generation of kids are going to know that there is no privacy. i'm worryied, my eight-month-old daughter knows there will be absolutely no privacy and smarter for it. the stu

modern day, i guess i would say that people consider them philosophers, sort of milton friedman, high yak, men of that -- hayak, men of that sort. and there are many others, i'm sure i can't remember them all. not one in particular, but all together. and by the way, the framers were well read on -- obviously, not men who didn't exist at the time, but many of the men at the time and before their time who did exist, they were well of informed about the enlightenment, about what had taken place before history. you look at jefferson, the declaration of independence borrows heavily from locke's second treatise on government. the constitution borrows heavily from montasgue's laws. these are the philosophers and others, many others, who should be the focus of our educational system, who should be the focus of our public discussion. but i fear other than a very small percentage of the population, most people have never heard of them and certainly don't know much about them. so i try to do my best to spread the word. >> host: who's on the other side? >> guest: the processer ifs on the other si

that circle includes david mamet, david horwitz, andrew breitbart, milton friedman, thomas sole, and ronald reagan. not bad company. evan's career is divided almost exactly down the middle. his time split between political humor and serious lectures. dissecting and analyzing the liberal mindset is not a job for the lightweight. the book is called brilliant. if you had not had a chance to read it, i recommend you do. evan will be selling and signing his book after the q&a tonight. please join me in giving a warm welcome to evan sayet. >> i just have to correct rita. i don't think it is that we switch sides, i think it is that we grew up. there is this belief when you are a child in liberalism because there are no consequences to your behaviors. by definition, your parents look out for you to make sure you do not get hurt so you can have this fantasy life of being a liberal. then you enter the real world and most of us grow up. i think the lights are good enough for me. c-span, am i ok? how cool is that c-span follows me wherever i go. you guys get to enjoy me. i have heard me. but i w

back in the 1980s, nobel laureate milton friedman first suggested the need for international metric of economic liberty, a measuring stick for future prosperity across the globe. and as i look at this index and read through it, and i would encourage you to look at the whole thing, it is a great book on economics. but i can't help but see the parallels between this index and economic freedom in general and some of the work i did in my previous life on quality management, a quality drink some of you may not know that an american years ago, went to japan like in the 1960s inaction was a key part of an economic revolution in making japan one of the power economic countries in the world. and he did that through this concept of total quality management. it's not something that's talked about a lot in washington for various reasons. the one of the things we used to say when we trained companies to do with quality was you can't improve what you don't measure. it's a key part of this index. it's a key part of creating quality at the company level. but he helped to change the focus in companies

it was invented by milton friedman, initiated by ronald reagan, republicans in theory support it.blem with all respect to abby and the republicans, at the margin, they'd rather not spend the money on people who don't vote republican so they'd rather be dragged kicking and screaming to the idea. but if obama aimed bigger as krystal says, i think he can start the conversation. >> amen to that and with all due respect to our good friend abby huntsman. >> abby does not sit in that particular regard. >> the idea of having 14 republicans respond to the state of the union. >> i think it was like 4 3/4 republican responses. >> you're right. it was four, only four. but, still, it's an absurd amount and suggests the whole group is fractured, leaderless, free for all. there's an official response and there's a factions response, and then there's a free agent response. and then there's what i find -- >> response yesterday. >> right there the krystal response and i find it somewhat patronizing there's the spanish language response because we can't speak to the whole group. we can't have one pe

it is amazing to me having been sort of raised as monitorrist, milton friedman and those other guys,ate $4 trillion and be concerned about deflation, not inflation. are you surprised about that. >> yes. price level is proportionate to level of money known as m2. m2 is i'm sorry, checking accounts, savings accounts, small deposits and money market fund and so on. that measure of money is the thing you're talking abouts, the thing the fed had control of. david: base money n this recession, money multiplier, ratio of m2 to base money is contracted from fine times to three times. we have so give bernanke and crew credit not letting that turn into huge deflation. if they had not done something with q1, q2, q3, the money supply would have been cut two third and we would have massive deflation. they have been fighting deflation all along. inflation is running lower, running 1% over last year. david: here's the thing. when i hear the m2, m3, stuff my eyings begin to get a little glassy. you guys are for familiar with. if we hear more deflation talk out of europe or comes out of the united st

mametircle includes david , david horwitz, andrew breitbart, milton friedman, thomas sole, and ronald reagan. not bad company. is divided almost exactly down the middle. this timeslot -- time split between political humor and serious lectures. bisecting and analyzing the liberal mindset is not a job for the lightweight. book is called brilliant. if you had not had a chance to read it, i recommend you do. he will be selling and signing his book after the q and a tonight. please join me in giving a warm welcome to evan sayet. [applause] >> i just have to correct read up. i don't think it is that we switch sides, i think it is that we grew up. there is this belief when you are a child and liberalism because there are no consequences to your behaviors. i definition, your parents look out for you to make sure you do not get hurt so you can have this fantasy life of being a liberal. and you enter the real world and most of us grow up. i think the lights are good enough for me. c-span, am i ok? how cool is that the c-span follows me wherever i go. [applause] you guys get to enjoy me. i have

that circle includes david mamet, david horwitz, andrew breitbart, milton friedman, thomas sole, and ronald reagan. not bad company. evan's career is divided almost exactly down the middle. his time split between political humor and serious lectures. dissecting and analyzing the liberal mindset is not a job for the lightweight. the book is called brilliant. if you had not had a chance to read it, i recommend you do. evan will be selling and signing his book after the q&a tonight. please join me in giving a warm welcome to evan sayet. >> i just have to correct rita. i don't think it is that we switch sides, i think it is that we grew up. there is this belief when you are a child in liberalism because there are no consequences to your behaviors. by definition, your parents look out for you to make sure you do not get hurt so you can have this fantasy life of being a liberal. then you enter the real world and most of us grow up. i think the lights are good enough for me. c-span, am i ok? how cool is that c-span follows me wherever i go. you guys get to enjoy me. i have heard me. but i w

ronald regan invented it, milton friedman idea. on a democratic side, obama came out for a $9 minimum wage. he's been dragged to $10.10. why can't the president say 15 bucks an hour all in with a blend of minimum wage and earned income tax credit. doesn't have to all be on the employer's payroll, all in 15 bucks an hour is a reward for work. he won't go there so the debate won't be where it needs to be. >> let's listen to the president in 2013 talking about that $9 minimum wage proposal. >> tonight let's declare that in the wealthiest nation on earth no one who works full time should have to live in poverty and raise the federal minimum wage to $9 an hour. >> so the first part of the sentence is not actually quite related to the second part of the sentence. let's declare that no one in the wealthiest nation should have to work full time and live in poverty but the policy proposal of $9 of minimum wage would not solve the problem of people living in poverty. you keep feeling like the president can't go much beyond that. to say 15 wo

as milton friedman told us, money supplies only matter as far as the financial system transmits it.o pull back. the more velocity, the more health, the easier it is for this. >> why did we never hear of qe? >> because the japanese chose -- >> did miller ever did it? >> william mckenzie martin did it in the '50s and '60s. >> they were buying? >> government bonds but they were also discounting a huge range of bank notes in the same way the bank of england did. >> historically it was larger in size but we also have a larger crisis. >> would you argue there was no option? >> you always have an option but it was the best available. >> what did a balance sheet go up, ten times in value almost? >> it happened in a period where we never saw a recession was bad. >> people argue that the late '70s, early '80s was bad. >> it was a different nature of recession. >> the pain seemed to -- >> when you had stagflationary recession when supplies are cutting back, it's not just demand shock. when it's about oil prices coming up, not about a panic in the markets, there's a different response. the fed

and the m-2 measure of money, this is what milton friedman told us to watch, has only grown 6% a year but the money hasn't gotten to the economy. the banking system has not multiplied it. and, therefore, my view is, is that that's not what's driven the stock market, and, therefore, when they get rid of qe, they won't hurt the stock market. >> brian, hang on one second, i want to leave the taper talk aside. one thing we're not talking about, but perhaps should be, according to george shoros, is china. he wrote an interesting op-ed, saying the major uncertainty facing the world, is not the euro, not the united states, but the future direction of china, the growth model responsible for the rapid rise has run out of steam. jack, i want to pose that question to. is china going to have to be a concern here for u.s. investors? >> china is always a concern. and china, you know, grew its debt far in excess of its economic growth now for the last decade. and they're left with a huge amount of overbuilding a lot of bad debt. i do like the fact that last month that ipo of cenda, this public/priva

modern day, i guess i would say that people consider them philosophers, sort of milton friedman, high yak, men of that -- hayak, men of that sort. and there are many others, i'm sure i can't remember them all. not one in particular, but all together. and by the way, the framers were well read on -- obviously, not men who didn't exist at the time, but many of the men at the time and before their time who did exist, they were well of informed about the enlightenment, about what had taken place before history. you look at jefferson, the declaration of independence borrows heavily from locke's second treatise on government. the constitution borrows heavily from montasgue's laws. these are the philosophers and others, many others, who should be the focus of our educational system, who should be the focus of our public discussion. but i fear other than a very small percentage of the population, most people have never heard of them and certainly don't know much about them. so i try to do my best to spread the word. >> host: who's on the other side? >> guest: the processer ifs on the other si