you know, i really was familiar with sort of the stylized history that it started, milton friedman and then kind of nothing happened. and then milwaukee and. i didn't even know that much about milwaukee to be honest. yeah, it's interesting too, because i think especially if we really myopic and look at this in the present, we might view these issues to be kind of strictly bipartisan republicans are in favor of school choice. democrats are against. but as your book shows, that's really not the case. even going all the way back to the origins. i really liked anecdote you shared about the sociology. just who wrote sort of a treatise for school choice in both right wing and a left wing publication? can you talk a little bit about how how this how school choice sort of defies a lot of the rules that we have come to think of that, you know, split issues into half. yeah that was one of the things that i think kept me going through doing all of this research you know, i spent five years on it was sort of surprising moments in the research. and one of them, i think really was the idea that that

necessarily have a familiarity with milton friedman. her it was very much thiss something that could help black students essentially leave the school system that she thought was failing them. and so i thought here is someone who embodies some of these contradictions because you don't want to give it all away, but she became somewhat disillusioned with some of her white conservative allies over time. and so i thought her story spoke to a lot of the different sort of questions and debates and the tension in all of this. that's one of the reasons i focus on her and also because milwaukee was one of the first modern program, so it made sense to focus some attention there. >> host: you basically had a woman who you would describe as a black nationalist representing a majority black city, partnering with white lawmakers, conservative white lawmakers. >> guest: yeah. and she called it, she called it the unholy alliance, which which i actually, it was actually the original title of the book. i thought that was great in so many ways. it is not,

it wasn't about milton friedman. she didn't necessarily have a familiarity. for her it was very much this is something that could help students. here's somebody that could embody these contradictions. i don't want to give it all away. her stories spoke to a lot of the different questions and debates. one of the reasons i focused on her andd milwaukee was the first modern program that made sense to focus on the attention there. the majority partnering with white lawmakers. >> the original title of the book i thought that was so great in so many ways. it didn't say education to a lot of people so it didn't end up being the title of the book and i used it for a chapter title. but i thought that kind of short description did speak to the alliance made with tommy thompson the white republican governor at the time. >> there are no clear partisan boundaries and this is probably the best example of that. what do you hope they will conclude or learn once they finish this book? i was trying to go into it as someone with a viewpoint that teaches there's history around a

then of course milton friedman. and the discussions of cryptocurrency. these things about economics and what is going on. host: two more calls and then we have to let the librarian go. steve in macon, georgia. caller: hello. can you hear me? host: we are listening. caller: i am trying to talk into having trouble with my phone. can you your miyako -- you hear me? host: we can hear you. i apologize, going to let steve go. anna. caller: i am enthralled. i enjoyed hearing from the other people who felt like they influenced america. i am reading two books right now. "mrs. lincoln's dressmaker." i am enjoying getting into it. and learning so much. i never read a book until i was 65 years old. i had a learning disability. i don't have it anymore. i learned to read and retain. i am 89 years old. i am also reading "braiding sweetgrass." that is about the teaching of pants by robin wall kimora. she is pretty technical. she is a native american of many generations. deluded, i think but they are knowledgeable and i'm joining that book. the "mrs. lincoln's dressmaker

lucas are all named after the eccentric politician's three favorite economists, murray rothbard, milton friedman and robert lucas. meley built a good career as an economist, worked in a bank, taught for students, but became famous several years ago when he began regularly appearing in tv projects. since then, outbursts of anger, shouting, altercations, insults and profanity have become his signature. you can't give the shitcrats an inch. can you define the term shitcrat? all collectivists, all types of collectivists. but why do you call them shit? because they are shit. in 2018, for example, he called journalist teresa frias an ass who does not understand anything and received a lawsuit under an article for violating the law on protection against gender-based violence, although it ended up in court. ruled that there was no corpus delicti here. in 2021, he called the mayor of buenos airos, horacio rodrigue loretta, a shitty lefty and a disgusting worm. these epithets were used by him in his posts on social networks; javier miley responded to criticism against him so: if you don’t like the way i b

robert and lucas, all named after three loved ones eccentric political economists murray rothbard, milton friedmanan economist, worked in a bank, taught for students, but became famous several years ago when he began to regularly appear in tv projects, since then outbursts of anger, shouting, altercations, insults and profanity have become his signature style, it is impossible to give shitcrats and an inch, you can define the concept of shitcrats, all collectivists, all types of collectivists, but why do you call them shit? because they and eat shit. in 2018, for example, he called journalist teresa frias an ass who does not understand anything, and was sued for violating the law on protection against gender-based violence, although in the end the court ruled that there was no crime. in 2021, he called buenos airos mayor horacio rodrigue loretta a shitty lefty and a disgusting worm. these epithets were used by him in his posts on social networks; javier miley responded to criticism addressed to him like this: i don’t like the way i behave on social networks, it’s very simple not check out my insta

hayek who bring comparable levels of optimism to and use that to support their libertarian as a milton friedman who i talk about in the book is another murray rothbard. murray rothbard is for the most important political philosopher who you never heard of. he was active the libertarian movement really from the 1950s through the eighties. he was the mentor to randy barnett who brought the obamacare challenge to robert nosek the best the libertarian political philosopher. and he was the one who persuaded charles koch to help found the libertarian and to found the cato institute. and rothbard was really an he was so opposed to any kind of state power that he thought that it's illegitimate for the state to exist at all. the taxes and is theft and based this in part on terrible philosophical about the wrongness having any kind of state power at all and in part on extremely optimistic arguments about would happen if as is inevitable the case with anarchy. you have multiple of armed power within same geographical area. we've had experience with this there cold warlords. it is not good living them andr

mac was you did that milton friedman writing this essay about school vouchers. you also had sort of a lesser-known figure in virgil blew it was a priest in the walkie very much interested in school vouchers for religious liberty and hope religious familiesex attend by the school and particularly catholic schools butou not exclusive to that. they had these two voices and at the same time you had segregationists who are interested essentially of privatizing the school system to avoid brown. it starred in the lead up to brown and it seems clear that were moving in that direction and then intensified post-brown. but i thought that time. mac is so fascinating because you start to see how you could take one sort of mechanism in school vouchers and just for a lot of different purposes and i felt like today we're still having some of those same threads, some of the same questions about vouchers about who they are for, who they are not four. does it help or hurt thepu publc system? and how do you y factor in sortf values, you know, religious education into that. so i fel

the same day stanford historian jennifer bns is set to release milton friedman's the last conservative, the blindside author chael lewis's latest book will focus on the rise and fall of crypto billionaire sam bank superman-fried entitled going infinite, it's coming out octobe3rd. finally, as we preew some of the books that are coming out this fl i want to tell you about one that's coming out september 26th, american gun, about the history of the ar 15 by 2 wall street journal reporters, cameron mcwhorter and sasha ellens and. you are watching about books on booktv and we are giving you a preview of some of the books that are coming out this fall. joining us now is collette bancroft, new york times book editor since 2007. joining us on booktv is colette bankroft, book editor for the tampa bay times. we just listed a whole bunch of political books that are coming out this fall, many dealing with the 24 election and donald trump etc. . do you look at political books down in florida? >> yes. we are awash in politics here in florida and i do, i have one book definitely on my list that i'm l

well, neil says milton friedman's book, free to choose.ed very specifically and clearly what the source of inflation was. the printing of money. said , that printing of money. he said, that leads directly to inflation. therefore, to stop inflation in its tracks, you simply have to stop printing money. why was this lesson not sunk in with the powers that be in 2023? thank you for your views. much more important than my own now, folks moving on. we all love to love ourselves. it's the creed of the day, is it not? and in recent years, the self care and wellbeing industry, it's a booming industry. so our next guest today discovered the joys of healthy living and self care in 2011, leading her to develop a passion for such practises and to actually start her own business coach coaching others on it . i'm business coach coaching others on it. i'm joined now by the integrative and holistic wellbeing expert and the founder of nourish by naomi naomi buff. naomi you know your surname buff, that it does strike me as someone perfect for a wellbeing co

the fed has done, they printed way too much money in response to covid and when it was obvious, milton friedmanid the -- if you do that, you get inflation 18-20 months later. this federal reserve said 12 month into covid, inflation is transitory, and you have to unlearn milton friedman. of course you're going to get that. they had their head in the sand and they have been hiking rates so now you're over 8% for a 30 year fixed rate for mortgage. how do you go from the average home price in 2019 compared to the average home price today? your monthly mortgage payments is -- payment is over twice as much today as it was then. is anybody's income going up twice as much as it did from there? course it's not. i think that is a burden on society. that absolutely kills the american dream for young people, it's not like it's easy to afford a home anyways in your 20's. you have to save and make decisions. to now be paying the interest rates with where they are, it totally ruins things. were also going to do something different with student months. i disagree with having taxpayers pay for people students l

he quoted milton friedman as patience is important as a lag component, and most importantly, rates higher right now are more about a supply-demand issue as well as a stronger than expected economy. even he said it caught him by surprise. but but the labor market, in his opinion, is showing significant signs of weakening, you're not having this real draconian issue around wages. even though we got a great retail sales number, in the end, he think -- sees that moderate slowing down. it's why he's on pause. liz: okayment and you noted two different parts of the treasury, of the yields' curve, and you said look at the 1-year and hook at the 10-year. why? what is that telling you? >> what you're seeing, the 1-year's staying relatively -- liz: 5.149% for the 1-year. >> the inverted yield curve is beginning to go away, and right now you have an opportunity to do two wonderful things in your portfolio, put 75% in that 1-year position, it's a great way to earn income, be paid to wait around. if i'm right, the interest rates are going to grind, you'll get price appreciation on that long bond, but y

them are named after the three favorite economists of the eccentric politician: murray rothbard, milton friedmanme famous several years ago when he began regularly appearing in tv projects. since then, outbursts of anger, shouting, altercations, insults. the concept of shitcrat, all collectivists, all types of collectivists, why do you call them shit, because they are shit, in 2018, for example, he called journalist teresa, who does not understand anything and received a lawsuit under an article of violation for protection from gender-based violence, although in the end the court ruled that there was no corpus delicti. in 2021, he called the mayor of buenos airos, horacio rodrigue loretta, a shitty lefty and a disgusting worm. these epithets were used by him in his posts on social networks, in response to criticism in his javier miley responded like this: you don’t like the way i behave on social networks, it’s very simple, don’t look at my instagram. footballer, rock singer and economist. the explosive mixture of profession and hobbies is reflected in the political outrage: the non-systemic pol

he brought up today, a great chicagoan, milton friedman, when he did, one of my 50-year veterans from the trading floor called me and said, boy, e's spot on. i had many meetings with milton. if you want to know where inflation is taking the markets and why, just look at government spending. the indivigilantes have new hor and they're riding and i really do think that is the answer. we are spending too much. we are not learning to cut back, as a matter of fact, i think we're out of control as we approach a $2 trillion deficit and this is the market's way to get washington's attention. >> that is always the case, though, hasn't it, to some degree? >> no. qe. qe changed everything. >> right, so, do you think that the fed, whoever the fed may be within the next ten years, is actually going allow a rate that is above 13%? >> and will they be independent? >> they are running out of little tricks to pull out of their bag, and in my opinion, the quantitative easing removed many signals in the market that now it's trying to put back in place, and they could do as they wish. if they keep tinker

financial conditions actually happens before the moves now, which was not the case 50 years ago when milton friedman coined the phrase. but now you have financial conditions changing and of course, how does this affect the economy? the standard channels are asset prices and interest-sensitive spending in the exchange rate. we do see that happening, just not as fast as we would like. i would attribute some of that the just stronger demand. household savings turned out to be higher. household spending has been stronger and that is by far the largest part of the economy. host: do you need at least a hypothesis about how much -- with the economy? it is hard to how much more you need to do if you don't know how far you've come. >> it has been a year now since the last 75 basis point hike we did. the last meeting with 2022. the first one was in june. so we should be seeing the effects. by the way, they don't all just arrive on one day. so there's a lot of uncertainty around lags, and one of the reasons we have slowed significantly this year is to give monetary policy time to work. the truth is, you can fi

over the weekend at instagram i was looking at a long ago speech by a very young milton friedman andone thing is how much the government spends because one way or another you are going to pay for it. you're going to pay for it in the form of higher taxes. we know nobody is going to be raising taxes next year or you'll pay for it in the form of a devalued currency or higher interest rates, and you're going to pay that debt back anyway. >> absolutely. >> so this is exactly where we are, isn't it? >> yes. it's all of the above, as a matter of fact. art laugher used to have this analogy, imagine the world's two largest farmers, one farmer has to pay for the other farmer, the farmer has a need, it's a closed system. what we have are areas of the economy that needs help and that help will come from other areas of the economy already under pressure, and in terms of inflation, you may think that that's easier to control, but i completely disagree because i think inflation, that the fed can control fine, but inflation, i'm worried about what's going to come from the horrible transition going

conditions actually happens before the moves now, whereas, that was not the case 50 years ago when milton friedman coined the phrase long and variable lags. now you have financial conditions changing and how does it affect the economy? the standard channels are asset prices and intersensitive spending and the exchange rate, for example, and we see it happening just not as fast as we would like and i would attribute some of that to just stronger demand, you know, household savings were turned out to be higher, household spend has been stronger and that's by far the largest part of the economy >> in order to conduct monetary policy effectively, do you need a hypothesis about how much has hit the economy? it's hard to know how much more you need to do if you don't know how far you've come. >> on lags if you think back it's been a year now since the last 75 basis points hike we did. it was the november meeting in 2022. the first one was in june. it's more than a year. we should be seeing the effects. by the way, they don't just all arrive on one day. they arrive and then they're thought to peak and di

they printed way too much money in response to covid and then when it was obvious -- milton friedman if you do that monetary expansion you will get inflation 18 to 20 months later. this federal reserve said 12 months, well, it's transitory. of course, you're going to get that, they had their head in the sand and they've been hiking rates to now you're over 8% for a y 30-year fixed rate for a mortgage. how do you go from the average home priceho in 2019 compared to the average home price today, your monthly mortgage payment is over twice as much today as it was then. isis anybody's income going up twice as much? of course, it's not. i think that's a burden on society but that absolutely kills the american dream for young people because it isn't like it's easy to afford a home anyways in your 20's, you have to saver and make decisions and interest rates where they are, it totally, totally ruins things. we are going to do, that. we are also on student loans we will do something different. i disagree with having taxpayers pay for people's student loans. i don't think it's fair that a tru

by which our activist use can be adjusted to each other without coercive authority and, quote milton friedman likewise insisted that the central feature market society is that it prevents one person from interfering with another in respect of most of his activities and quotes. but this is utopian in some ways as idealist and dangerous and as other modern utopias that came to legitimate real world repression in the previous century. market utopianism has yielded a society shot through with private coercion coercion that we can't contest at the ballot box or in the system, or by other democratic means, and give and take precise sleep because it's labeled private. take the fact that a third of the 25 million americans employed in food service and retail received less than a week's notice of their upcoming schedules. according to university of california sociologist daniel schneider and courier kristen hartnett. just in time, scheduling is intended to shift the downsides associated with periods of low demand onto employees. in addition to wage precarity, because you can never be sure if you have

i suggest people listen to the late milton friedman on the cause of inflation. it's government that caused this inflation. we're ignoring that, the political reasons. it was not -- it was $4 trillion into a strong economy. you said this morning, it is a strong economy. then why did they spend the $4 trillion? to reward their political people. so we have a political problem right now. is america ready to look at that? i don't know. i don't know if they're ready yet, how bad things have to get. host: al was mentioning how people were feeling about the economy. there was an associated press poll will americans' financial future, and they found that relatively few americans say they're very or extremely nfident that they can pay an unexpected medical expense, just 26% of people,r ve enough money for retirement, 18%. only about 1/3 are extremely or very confident their current financial situation will allow them to keep up with expenses, although an additional 42% say they're somewhat confident. that was a poll of just over 1,100 adults conducted in the first week of

i suggest people listen to the late milton friedman on the cause of inflation. it's government that caused this inflation. we're ignoring that, the political reasons. it was not -- it was $4 trillion into a strong economy. you said this morning, it is a strong economy. then why did they spend the $4 trillion? to reward their political people. so we have a political problem right now. is america ready to look at that? i don't know. i don't know if they're ready yet, how bad things have to get. host: al was mentioning how people were feeling about the economy. there was an associated press poll will americans' financial future, and they found tha relatively few americans say they're very or extremely confident that they can pay an unexpected medical expense just 26% of people, ohave enough money for retirement, 18%. only about 1/3 are extremely or very confident their current financial situation will allow th to keep up with expenses, although an additional 42% say they're somewhat confident. that was a poll of just over 1,100 adults conducted in the first week of

we don't have the >> i mean, we don't have the free market capitalism of margaret thatcher or milton friedmane enriching their coffers at the expense of the taxpayer . expense of the taxpayer. >> and it really does stick to the craw. >> and to put this in some perspective of the government has a levelling up fund . you has a levelling up fund. you know, it's used to gentrify depnved know, it's used to gentrify deprived towns and cities , deprived towns and cities, invest in cultural assets, improve transport links and so on. but mr king has a contract worth 1.3 billion. now that sum is greater than the sum sent out dunng is greater than the sum sent out during rounds one and rounds two of the levelling up fund. >> so the north—west, for example, received 600 million and that was the largest recipients. >> this 1.3 billion contract is greater than the money sent to the south—east >> money sent to the south—west the east midlands, the west midlands , yorkshire and the midlands, yorkshire and the humber london. >> and it's a greater sum than the total money given to wales , the total money given

milton in the city? and i want to ask you, i was reading an article written by thomas friedman, the new york times. he was suggesting that in order to maintain support for his military action and to be able to have greater achievements when it comes to his military action. israel could maybe change his focus from its initial stage of game of wiping out hamas, which may not be achievable according to some analysis to getting the captives back . do you think that changing that focus all be perhaps softly over a period of weeks would actually be feasible? i don't think any of these relays objectives are being met in the last 20 years. need to get some us full and never all the objective that these are really in many tooken minded and position. so in any of them or what they love to pour boxes between the was they would say now on the media and the vision. they say we have achieved it. now look what's happening in does that today, 7000 people with kidding by these really mostly children and women. is that that objected to destroy it from us. of course not because we see the density of the bottom in the