milton friedman. documentary the nation was at risk of default under pressure of the european institutions the berlusconi government had just resigned in favor of. a technician who did the forthcoming catastrophe it was the first time in a decade that i came back to the land where i was born. to advance a moral vision. where men and women are free. to choose. by the breeding agencies and they'd lost credibility in the eyes of international markets there was everywhere a climate of fear and uncertainty about the future. when government attempts. it's. for the judgments of free people. the results are usually disastrous. the italian case with its debt out of control could have even caused a domino effect on the whole european economy only dose of the pigs. what was going on in europe in contrast to the free markets invisible hand. which improves the lives of people the government's invisible foot. tramples on people's hopes and destroy surgery. that's the word spread and austerity had entered into every

keynes argued the need for public intervention in the economy of the nation on the opposite side milton friedman yes that treatment the hero of freedom economic.

keynes argued the need for public intervention in the economy of the nation on the opposite side milton friedman yes that treatment of freedom and economic consumption of the bloodthirsty dictator pinochet yuri's remain the source of current economic policies of the past and anything we can do to keep down government spending is a good thing we should restrict it to those activities like defense which we really need to do. because it's a political decision that's why in the past i've called it a crime against humanity because it's an act of decision to kind of walk they have run out of money the central bank just credits because there's no limit to the amount they credit accounts so let's see how money is created in the united states . in order to overthrow regime it does take popular discontent and popular mobilization but it also requires actors with in the leadership of the regime who feel that the regime is no longer serving the national interest you need people in the military or the bureau. crissy or both who are willing to see the regime change otherwise they would be able to put down a p

milton friedman. i arrived in italy in november two thousand and eleven to shoot a documentary the nation was at risk of default and under pressure of the european institutions the berlusconi government had just resigned in favor of mario monti a technician who would have afforded the forthcoming catastrophe it was the first time in a decade that i came back to the land where i was born. to advance a moral vision. a vision of a society where men and women are free. free to choose italy had been downgraded by the radio agencies and had lost credibility in the eyes of international markets there was everywhere a climate of fear and uncertainty about the future. when government attempts to substitute its own judgments. for the judgments of free people. the results are usually disastrous. the italian case with its debt out of control could have even caused a domino effect on the whole european economy not only dose of the pigs. what was going on in europe in contrast to the free market invisible hand. whi

chicago's called the ball university all right was the congo school of finance is quite famous milton friedman and all those guys right is that right is that you're following the footsteps of and so that minor school because if you're looking at the step chapter one of max's version of how to win friends and influence people threaten bodily harm i was originally thinking that way and i sort of changed my mind because of my show. knows more about the people in finance i didn't really seem to get along with right so he had to go to the finance and do more business sort of i sort of segue it out of finance actually i got interested to. see the science. data science and money this sounds like a prelude to pinpoint getting into because i think the person i wish i'd gotten in the big point ten years i recommended. you got two kids i got to write a lie and. so how we do want to build a house a house a house life for the last smart make good choices we've got tiger mom on their back you know through the door that you see that you're just an old school new school more old school the same because while

now, milton friedman and some others in the 1960's poked holes in the phillips curve by saying that ing run, there is no free lunch. central banks can't buy stronger growth on lower unemployment on a permanent basis by tolerating high inflation, but on a short-term, there remains in theory, what you think of as a slope. if you imagine inflation on one axis, high unemployment. the problem is, it hasn't proven out in the real world. the curve is flat. julia: because u.s. economies have been creating jobs hand over fist and we haven't seen inflation pick up. now we are confused. where is inflation and why aren't we getting wage growth? peter: inflation remains below the fed's target of 2%. even as the unemployment rate was down to 4.1%, and so there are people saying the phillips curve is broken and we can ignore it. and all i'm saying in this article is no, the underlying logic remains sensible. right? you would think the economy heats up, workers are in great demand, can demand higher wages, wages go up and that transit into higher pay overall. carol: whether globalization or workers no

milton friedman, but everyone famously quotes but many famously misquote in his 1970 sa when he said it is just profits. he talks about, if you have an ability to impact your community , and that produces longer-term profits, that is good. that is exactly what my letter said. erik: it is a strong message. "without a sense of purpose, no company can achieve its full potential. it will ultimately lose the license to operate from key stakeholders." some may interpret that as a threat. the ceos need to know how they are being measured. how do you find -- define social purpose? lawrence: we asked companies to define how they see their purpose, so it is not for me to tell a ceo and their board what is their purpose. it is for me to understand how they see their purpose. i may agree or disagree, but that is our prerogative. we are asking companies to think about their long-term -- erik: what motivates blackrock to take action? it does not sound very systematic. lawrence: i would think it is quite systematic. there is a huge responsibility being placed on blackrock with the scale of the asse

milton friedman said that. he is not right-wing zealot. a libertarian economist. monitorrist as well. i'm saying his policies on these things, they make sense. he puts them in the most crass way that people are starting to take it out on him personally. can he keep acting out and sometimes acting rationally even though he has great economy and be successful? politically i don't know. neil: you think normally there is delay on presidents enjoying economy picks up steam? the economy was in pretty good shape prior. >> right. neil: he put it on all cylinders here, the perception tax cuts is getting to be more fav -- more favorable, remarkable he is in the getting advantage of, do you see that changing? >> we are in uncharted territory a guy doubling down on his unlikability? what do people despise about donald trump? they don't like his crass or nastiness. neil: but they like making money. >> why didn't they vote obama out? no offense president obama was very likeable guy, a smart man but reined over a economy that made rich people richer, middle class people lost wag

milton friedman pointed out a long time ago that we hold our self-interest at part. have a question for the commentators, what are your income levels and what do you stand to lose with the scrapping of nafta? ,an: speaking from our industry our industry employs about 180,000 folks directly within the u.s. these are collectively bargained , good jobs, average wages and .enefits near $100,000 a year that is what concerns us so much , putting these good american jobs at risk by taking a rash move when it comes to nafta. jennifer: i agree. the auto industry supports more than 7 million jobs across the country and we want to continue to see that number grow. scrapping nafta would do the opposite effect. has the potential to cost millions of jobs and would be devastating for the nation's economy. kimberly: i want to talk about the country of origin rules president trump is proposing hiking the share of a typical car that must be built in the three countries and adding an additional requirement for 50% of its content coming from the u.s. why would that help the u.s. auto in

. >> i think i'm actually reconfirming what milton friedman said. his whole essay that everyone talks about, he talks about that you need to be connected in your community, especially for small companies back then, in 1970 as global companies we're here in davos, we have communities everywhere we have to be connected with every community. the most important thing i said, and i repeated maybe three times, profits are paramount to everything the company does and their connectivity with their shareholders is about profit what i did say though to remain in front of change, to be a part of a growth environment, i believe the involvement in a community to have a purpose is vital for long term survivability but long-term profitability. and i think most people -- for most people it resonates that, yes, you need to be connected to your employees, you need to be connected with your clients, your communities and you operate. that's really the essence what i'm saying, but most importantly, i believe the companies that have purpose are the best companies in the