you know, i knew milton friedman. you know, i adored the guy. what he said is exactly right, and i was just about to sayth , that you mentioned the financial panic that happened in 2008 and '09. the fed helped create that. i was at the wall street journal, on the editoriale board, at me. month after month, we warned that -- >> it was fiscal policies also, though, right? >> yeah, but it was the moneta -- on the monetary side, they built up a bubble. now, i'm not saying the fed was the only thing that created the bubble. >> the gses helped create the bubble. >> well, of course. a there weot of contributing factors, but the fed kept -- where did all that excess money go that the fed was putting in the economy? it went into housing. and then we hathe bubble burst, and then the feds -- you know, i'm not so sure the fed -- everybody says they ved the economy. they didn't save the economy. they contributed to the -- exactly the point that milton friedman was making in that interview. >> well, you clearly disagree with the idea that the fed saved the ec

who are the new milton friedmans?cannot give you the list but have made a note we need to develop one. david: that is club for growth president david mcintosh coming to us from washington. boeing is back in the crosshairs after reports it knew early on about a problem with the software in its boeing 737 but failed to inform those flying the airplanes. we talk about that next. this is bloomberg. ♪ david: boeing is our stock of the hour. shares dropped the most in the month. there are new questions about the company's transparency of the 737 max 8 and emma chandra is here to tell us all about it. emma: the transparency or lack of transparency. boeing new the cockpit release angle of attack sensors on the jet were not working properly and needed -- and they knew months before the first crash of the 737 max jet. the plane makers do not share those findings with any airlines or with the faa until after the first crash. the faa has criticized them for poor communication. they were supposed to warn pilots about issues with t

democrat leader or vince cable he said this kind of idea is more him and isn't of aymer and and milton friedman and the tories are also saying the reason why this is dangerous is that you are taking away the choice of the person and the choice of the lawyer i think the absurdity of those remarks is revealed both things label did say we're way way quickly. given you know you compare yourself to but no no quite and i think it's absurd that just because. incidentally i mean given an analogy. i don't hitler was in favor of a national health service. does this mean you and i should be against a national health service because somebody favored it and rand as you mention quite clearly mad in my view what we're proposing is that common dividends as basic incomes payments should be a sharing of public wealth and you identify you could afford to be a book about it that this is something very british you trace it to some of the magna carta or more famously but the charter of the forest into all seventy the charter of the forest of november the sixth twelve seventeen is one of the most subversive radical d

championed it in one thousand nine hundred sixty seven called it the guaranteed minimum income milton friedman in one thousand economists signed a study saying this would be tremendous for america and one state has had a dividend for the last forty years and that's alaska where everyone in the state gets between one and two thousand dollars a year no questions asked to your point this would help us address the problems of automation by putting buying power into americans hands it would make it so that consumers can continue to participate even as the jobs start to go away it would also create two million new jobs in our economy because of the increased consumer demand where a lot of people would be spending that money in their communities and those that money would circulate several times over it's going to help expand the types of work that we can do because many americans would pursue different kinds of opportunities if they had the sort of resources that move with them wherever they went it's really interesting that you use the term that others have used the term dividends you describe it a

championed it in one thousand nine hundred sixty seven called it the guaranteed minimum income milton friedman in one thousand economists signed a study saying this would be tremendous for america and one state has had a dividend for the last forty years and that's alaska where everyone in the state gets between one and two thousand dollars a year no questions asked to your point this would help us address the problems of automation by putting buying power into americans hands it would make it so that consumers can continue to participate even as the jobs start to go away it would also create two million new jobs in our economy because of the increased consumer demand where a lot of people would be spending that money in their communities and those that money would circulate sever. times over it's going to help expand the types of work that we can do because many americans would pursue different kinds of opportunities if they had the sort of resources that moved with them wherever they went it's really interesting that you use the term that others have used the term dividends you describe it a

i don't want to get too wonky here but milton friedman, a conservative economist in the late 1980's saidhere's only one obligation a corporation has and that's to their shareholders. they have an obligation to the employee, the community they live in, they have an obligation but they walked away from it. an awful lot of corporations know it. know it. but quite frankly, they are afraid that if they do at the right way, they will not be little compete with those who are doing it the wrong way. , theadies and gentlemen fact of the matter is that we have to change this. we have to change it in a way so when folks, as i said, who grow our food and wreckage it, they should succeed when everyone else in that corporation. when the stockholders and other folks succeed. [applause] mr. biden: you know, my daddy is used to have an expression. he really did say this all the time. he said, joe, a job is more than about the paycheck. it is about your dignity, about respect, it is about your place in the community. it is about your standing, it is about being able to look your child in the eye and say h

lou: let me quote milton friedman he said, those who want freedom and equality and make that a prioritylikely to have neither. those who would put equality above free freedom will lose fr, and those who put freedom above equality will have opportunity for both. charles: thank you very much. we're very fast, i hope everyone that found their helpful. i want to thank everyone at home for watching, thank you to our audience thank you very much. thank you, richard, bianca, herman cain, lou dobbs, kennedy from neil nile, an neil cavuto , i am charles payne. we will continue this conversation. thank you very much. -♪ just like any other family ♪ the house, kids, they're living the dream ♪ ♪ and here comes the wacky new maid ♪ -maid? uh, i'm not the... -♪ is she an alien, is she a spy? ♪ ♪ she's always here, someone tell us why ♪ -♪ why, oh, why -♪ she's not the maid we wanted ♪ -because i'm not the maid! -♪ but she's the maid we got -again, i'm not the maid. i protect your home and auto. -hey, campbells. who's your new maid? i protect your home and auto. essential for the cactus, but maybe not

lou: let me quote milton friedman he said, those who want freedom and equality and make that a priority have neither. those who would put equality above free freedom will lose fr, and those who put freedom above equality will have opportunity for both. charles: thank you very much. we're very fast, i hope everyone that found their helpful. i want to thank everyone at home for watching, thank you to our audience thank you very much. thank you, richard, bianca, herman cain, lou dobbs, kennedy from neil nile, an neil cavuto , i am charles payne. we will continue this conversation. thank you very much. welcome to seattle. where people are into coffee, tech, and retirement planning. the perfect retirement for me is doing the things that i want to do, not the things i have to do. unlike seattle, less than half of americans participate in their employer retirement plans. so what keeps people more engaged in their retirement? i want to have the ability to easily transact online, great selection of funds, great advice, everything in one place. helping people in their working years and beyond. th

lou: let me quote milton friedman he said, those who want freedom and equality and make that a prioritye likely to have neither. those who would put equality above free freedom will lose fr, and those who put freedom above equality will have opportunity for both. charles: thank you very much. we're very fast, i hope everyone that found their helpful. i want to thank everyone at home for watching, thank you to our audience thank you very much. thank you, richard, bianca, herman cain, lou dobbs, kennedy from neil nile, an neil cavuto , i am charles payne. we will continue this conversation. thank you very much. ♪ limu emu & doug mmm, exactly! liberty mutual customizes your car insurance, so you only pay for what you need. nice! but uh, what's up with your partner? oh! we just spend all day telling everyone how we customize car insurance because no two people are alike, so... limu gets a little confused when he sees another bird that looks exactly like him. ya... he'll figure it out. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ they feel like they have to drink a lot

lou: let me quote milton friedman he said, those who want freedom and equality and make that a priorityo have neither. those who would put equality above free freedom will lose fr, and those who put freedom above equality will have opportunity for both. charles: thank you very much. we're very fast, i hope everyone that found their helpful. i want to thank everyone at home for watching, thank you to our audience thank you very much. thank you, richard, bianca, herman cain, lou dobbs, kennedy from neil nile, an neil cavuto , i am charles payne. we will continue this conversation. thank you very much. nothing says summer like a beach trip, so let's promote our summer travel deal on choicehotels.com like this: surf's up. earn a fifty-dollar gift card when you stay just twice this summer. or.. badda book. badda boom. book now at choicehotels.com for time life's music collection.s a paid advertisement let's face it, we love the '80s. (flock of seagulls) ♪ and i ran, i ran so far away ♪ ♪ you know i wish that i had jessie's girl ♪ ♪ they say the heart of rock and roll is still beating ♪ ♪ who

ben: you go back, john maynard keynes, milton friedman, they were giving advice to politicians back inhe day, but what's unique about zucman and his colleague emmanuel saez is that some of these -- their prescriptions are kind of radical. they're talking about a wealth tax. elizabeth warren is talking about it, too. a lot of other economists are really raising their eyebrows -- how would that work? they are out there advocating for this stuff and they have a book coming out next year which is designed to be helpful to 2020 candidates who want to solve inequality. jason: here's taylor riggs. she has another look at income inequality. taylor: exactly. this is the gini coefficient that measures the distribution of income inequality -- all we need to know, zero is perfect equality, 100 is perfect inequality. as you can see, the line is basically doing a straight line up to 48, showing income inequality is just getting worse. carol: we see it playing out in our political landscape big time. thank you so much. as a matter of fact, that income inequality is top of mind for many democratic pol

>> milton friedman >> okay, so we have capitalist any socialists in this new generation i know but i ask. nobody wants to take the other side back to you, tyler we're here hanging with a bunch, this is good whole new generation of capitalism right here. >> and i thought they were going to say steve liesman, for sure but congratulations to the winners of mt. hebron high school and andrew, we'll check back with you. thanks very much, guys congrats >> see you in a little bit you bet. >>> let's get to apple now hammered this month on trade concerns losing nearly 10% of its value in machlt y. "trading nation" will tackle that next. talks between the u.s. and china said to have stalled are we in for a much longer trade r anwath the markets have bargained for? stay with "power lunch." busine. from using feedback to innovate... to introducing products faster... to managing website inventory... and network bandwidth. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. your but as you get older,hing. it naturally begins to change, causing a lack of

[applause] >> let me quote milton friedman one moment.ptly i think the most brilliant economist of my generation. he said that those who want freedom and equality, and make that a priority, are likely to have neither. those who would put equality above freedom will certainly lose freedom. and those who put freedom above equality, will have the opportunity for both. charles: we have leave opportunity there. it went very fast. i hope everyone found the important discussion helpful, informative. i want to thank everyone at home for watching. very special thanks to our wonderful audience. thank you all very much. of course want to say thank you to richard wolff, bianca cunningham, herman cain, lou dobbs, kennedy from earlier, neil cavuto, stuart varney. i'll charles payne. see you back here on "making money," 2:00 p.m. eastern time. we will continue this conversation in the future. thank you all very, very much. really appreciate it. [applause] liz: president trump in the rose garden at this moment laying out his vision for what he calls a fa

. >> milton friedman used to lament that the public wasn't receptive to school choice and why not? seemed like such an obvious good. is your sense that the public is now more receptive to school choice? >> yeah. so the support for the concept of education choice, education freedom has continued to rise and grow. and the most recent data i've seen on it at the beginning of this calendar year suggests that two-thirds of the general population is supportive of the notion of empowering parents and families to make the right choice and find the right fit for their child. 75% of millennials support this notion. and in the high 60 to around 70 racial and ethnic populations. there is growing momentum. let's face it, the kids that are being most helped today and programs most significant in states are ones that have a high percentage of african-american and hispanic children taking advantage of them. there is nowhere i go where those opportunities have been unleashed that i don't hear from parents and teachers involved in that choice that this is a terrific thing and that we need more of it

milton friedman argued economics should not deal with issues of mora morality. it would appear we have issues of right and wrong. can you talk about the impact of the high cost of drugs beyond just the economic impact? >> yeah. i appreciate that, tim. we can look at this very much with a human face. the impact is grave. at west health, we focus on the medicare population, and there is a huge number of seniors in this country that are living on a fixed income. in the state of california, the seventh greatest economy in the world, two in five seniors are living at or below the poverty level, and they have to make choices every day. do i buy my food, or do i buy medicine? so there is a human face on this, and i hope that people like bob schieffer and sanjay gupta and all of the media that we have here today will really shine a light on that human face because a financial crisis has now created a public health crisis. >> great. we've touched on largely the direct impact of high cost of drugs. john, you started to suggest the tradeoffs, right, the broader impact that