the kind of famous statement of this by milton friedman is in 1970, i say, in which he says, the social responsibility of business to increase its profits. i think this is maybe not the most interesting or essay by milton friedman go back a few as a few decades in the early 1950s, he writes essay in which he claims that economics is fundamentally reducible to objective questions along the same model as all the natural sciences economics essentially is a positive science positive in the sense of positive mistake can know things about the world the same way physics chemistry can. right. why do i say that's the more influential essay? well, if economics is not a science and you have someone writing that the only social responsibility of a business is to increase its profit. that's just one opinion, among others. that's sort of a crank. maybe. or maybe it's very persuasive, but it has a different epistemic status. if this is a scientific truth to the law of gravitation or some deep law in the natural world, suddenly you foreclose and a much, much more powerful way you foreclose. the debate

later, that the head of our central bank read milton friedman's textbooks on macroeconomics and extrapolateds that in the west, well , at least in europe and more in america, in recent years there has been a figure of 2%, 2% inflation is good so that people, realizing that it still exists, do not keep money under the pillow, take it to banks or invest, but at the same time 2% is still not a big enough inflation and people do not get upset. from the rise in prices, as far as i understand, the central banks decided that well, we are not europe, so let it not be 2-4%, then the logic is the same, they did not just forever stick kasyanov's 2%. yes, well, well, well, it's just that, we we definitely live in a different era, and not these figures, by the way, the figure of 2% for them and four for us, this is the consensus of scientists, they could, i don’t know, drink tea or something else, with a different figure, and we would live by it, that is, here itself... the government should think about sanctions against, using our three export resources, enriched uranium, titanium and nickel, and this i

and when i thought about milton friedman writing a book of capitalism of freedom or hayek writing a book called the road to serfdom, which is about how, if you had too large of a state you would wind up on the road to authoritarianism. mm hmm. they were writing about freedom and the relationship between, quote, free enterprise and political freedom. mm hmm. and i just thought they gotten it so wrong, and they had had much influence in the policy dialog. mm hmm. and unfortunately, not only of the dialog in the policies, the laws, the legal framework that we had. mm hmm. and so, in a way, the economic doctrine. in the last 40 years has been neo liberalism. hmm hmm hmm. which is neo ming's liberalism is free. mm. and it was about freeing banks to do whatever they wanted and freeing firms to do whatever they wanted. and i thought that set of ideas was really what had brought us to the current set problems, the inequality that you and i both have written about, the slowing of economic growth. mm hmm. and to our political problems, which in turn undermine our economy. hmm. on the first page of

another 911 was commemorated on wednesday in the milton friedman. you can all make neoliberalism flash going to chile. on september, the 11th 1973, the ca and forced to create uh, that would see the elimination of democratically elected lead the salvador and for decades it would be a tough.

another $911.00 was commemorated on wednesday in the milton friedman economic neoliberalism flash going to chile. on september, the 11th 1973, the c i a in force to create uh, that would see the elimination of democratically elected lead to salvador. i end with decades. it would be a template, an example for installing death, squads, torture, privatization, and us vessel states all around the global south. this week though, the present boss of the c i a was not talking about mistakes.

and other 911 was commemorated on wednesday in the milton friedman economic neoliberalism. flash going to chile. on september, the 11th 1973, the ca impulse to create uh, that would see the elimination of democratically elected lead the salvador and but decades, it would be a template, an example for installing death, squads, torture, privatization, and us russell states all around the global south this week though, the present boss of the c i a was not talking about mistakes ahead of the trump parish debate in philadelphia. he was in london backing israel and ukraine on a sofa with a supine and my 6 bosses. they congratulated zalinski on the ukrainian invasion of russia and all this as kamala harris said, she was proud to receive the endorsement of the man who.

another 911 was commemorated on wednesday in the milton friedman. you can all make neoliberalism flash going to chile. on september, the 11th 1973, the ca, and forced to create uh, that would see the elimination of democratically elected lead the salvador and for decades it would be a template, an example for installing death, squads, torture, privatization, and us vessel states all around the global south this week, so it would be present boss of the c i a was not talking about mistakes ahead of the trump parish debates in philadelphia using london backing israel and ukraine on the sofa with a supine and my 6 bosses, they congratulated zalinski on the ukrainian invasion of russia and all this is comalla harris said she was proud to receive the endorsement of the man who 1st induced ronald reagan for president. dick cheney trying to me now from washington. dc does bondo former specialist distance to us president ronald reagan. he is a senior fellow at the washington. think tank the cato institute. dog, thanks so much for coming on as well as the deb

another 911 was commemorated on wednesday in the milton friedman economic neoliberalism flash point of chile. on september, the 11th 1973, the ca and forced to create uh, that would see the elimination of democratically elected lead the salvador i ended .

terrorist and comfortable and i've got a son and other 911 was commemorated on wednesday in the milton friedman. you can all make neoliberalism flash going to chile. on september, the 11th 1973, the ca and forced to create uh, that would see the elimination of democratically elected lead the salvador and for decades it would be a template, an example for installing death squads, torture.

victory to his dogs, whom he calls his children, named us to economies more right well guarded. milton friedman and robert emerson, newcastle, they are the spring of co, none. and when they adopted in 2004, a mesh tape named after i've read close economies, charles conan bonnie, after he spent staffing 2017, we may reportedly spend $50000.00 on having him clone allowing the important when you are to a new generation of reputations dogs, are you not? but as soon as the kind of same week it ended in 3. so say the cool, but i can not say avenue the so federal us government there will expedite in new pharmacy. luminous. yes. so live, but it will call me pat is a lender. it let us in the body of it. we didn't, those phones are not, is getting, not those are the most in the world of the big guy the that by that is that a set of kind of proceed in the and how many adults does he have told him because he academic what the bad rose my theme, this eking federal the was sick lynette simpler. another one of the glad it'll go. and then model and the community see it to see no, no, no for the at a center for

dedicated his victory to his dogs, whom he calls his children, named us to economies, mariah ross by milton friedman and robert emerson, newcastle. they are the spring of co, none. and we may adopted in 2004. a mesh tape named after ivory coast economies. charles conan bonnie. after he's bet staffing 2017, we may reportedly spend $50000.00 on having him cloned. and knowing they're important when you were to a new generation of replicates. dogs, are you not? but as soon as the kind of same way down the road is to say, look, well, but i cannot say avenue, the so fed horse redmond daily will expedite a new part of his he luminous years so live. but it will call me pat, is a lender that let us shouldn't have either these didn't those phone so not is getting not those that are most in the world that the big guy the that by that is that instead of going to proceed in the and how many adults does he have told him? because he academic what the bad arose, martinez, eking federal the plastic lynette simpler. and i don't know if the what it'll go and then what do you and to me, this is c a c? no, no, no. for t

another 911 was commemorated on wednesday in the milton friedman economic neoliberalism flash point of chile. on september, the 11th 1973, the ca, and forced to create uh, that would see the elimination of democratically elected lead the salvador and for decades it would be a template, an example for installing death, squads, torture, privatization, and us vessel states all around the global south this week though, the present boss of the c i a was not talking about mistakes ahead of the trump parish debates in philadelphia using london backing israel and ukraine on the sofa with a supine and like 6 bosses. they congratulated zalinski on the ukrainian invasion of russia, and all this as kamala harris said, she was proud to receive the endorsement of the man who 1st induced ronald reagan for president dick cheney trying to me now from washington, dc does bondo former special assistance to us president ronald reagan, he is a senior fellow at the washington. think tank the cato institute dog, thanks so much for coming on as well as the debate between the 2 is really bankrolled candidates.

another 911 was commemorated on wednesday in the milton friedman economic neoliberalism. flash going to chile. on september, the 11th 1973, the c i a and for us to could a tie that would see the elimination of democratically elected lead the salvador and for decades it would be a template. an example for installing debt score.

victory to his dogs, whom he calls his children, named us to economies more right well spied milton friedman and robert emerson, newcastle. they are the spring of conan when they adopted in 2004, a matchstick named after i've re coast economies. charles conan, bad me. after he sped staff in 2017, we may reportedly spend 50000 dollars on having him clone allowing the important when you are to a new generation of reputations dogs, are you not? but as soon as the kind of same week it ended in 3. so say local, but i can not say avenue the so federal us government daily will expedite and new pharmacy, luminous. yes. so live, but it will call me if that is a lender. let us shouldn't have either these didn't those phone so not is getting not those that are most in the world of the big guy the that by that is that instead of going to proceed in the and how many adults does he have during the guy, the academic what the bad arose, martinez, eking federal the plastic lynette simpler. and i don't know if the what the little or none would you and to me this is to see none of the be a, a setting up the fe

his victory to his dogs, whom he calls his children, named after economy smo, right well spied milton friedman and robert emerson, newcastle. they are the spring of co, none. and we may adopted in 2004. a mesh tape named after ivory coast economies, charles conan bonnie, after he's bet staffing 2017, we may reportedly spend $50000.00 on having him cloned. and knowing they're important when you were to a new generation of replicates dogs are you not? but as soon as the, the same way it ended in 3. so say the cooler, but i cannot say avenue the so federal us government daily will expedite a new part of a c, luminous years. so liberal will call me pat is a lender let us shouldn't have an idea of it. we didn't those phone so not is getting not those that i most in the while that the. busy the guy the that by that is that a set of kind of proceed in the and how many adults does he have told him because he academic what the battle rose, my theme s. e k federal, the plastic lynette simpler. another one is the quad 3, o 49 model. and then the me, this is c, d c, no, no, no, for the at a send, nobody e

dedicated his victory to his dogs, whom he calls his children, named us to economies, mariah ross by milton friedman and robert emerson, newcastle, they are the spring of co, none. and we may adopted in 2004, a mesh tape named after ivory coast economies. charles conan bonnie, after he's bet staffing 2017, we may reportedly spend $50000.00 on having him clone. and knowing they're important when you were to a new generation of replicates. dogs are you not? but as soon as the killer had the same way, it ended in through some say the cooler. but i cannot say avenue, the so federal us government that it will expedite a new part of a c, luminous years. so live, but it will call me that is in a lender let us shouldn't have an idea of it. we didn't those phone so not is getting not those that i most in the while that the big guy the that by that is that a set of kind of proceed in the and how many adults does he have told him because he academic what the bad rose my theme, this eking federal the plastic lynette simpler. another one of the glad 0 for none would you and of me this is c d. c. no, no, no, for

got rid of milton friedman and replaced it with email. wants to do that? >> florida, georgia, the carolinas deal with the aftermath of hurricane helene. here's how you can help. visit redcross.org/box or just scan the qr code on your screen. that means hold your phone up to the screen with your camera. detect this: living with hiv, craig learned he can stay undetectable with fewer medicines. that's why he switched to dovato. dovato is a complete hiv treatment for some adults. no other complete hiv pill uses fewer medicines to help keep you undetectable than dovato. detect this: leo learned that most hiv pills contain 3 or 4 medicines. dovato is as effective with just 2. if you have hepatitis b, don't stop dovato without talking to your doctor. don't take dovato if you're allergic to its ingredients or taking dofetilide. this can cause serious or life-threatening side effects. if you have a rash or allergic reaction symptoms, stop dovato and get medical help right away. serious or life-threatening lactic acid buildup and liver problems can

victory to his dogs, whom he calls his children, named us to economies more right well spied milton friedman and robert emerson, newcastle. they are the spring of co, none. and we may adopted in 2004, a mesh tape named after ivory coast economies, charles conan bonnie. after he's bet, staffing 2017, we may reportedly spend 50000 dollars on having him cloned, allowing they're important when you were to a new generation of replicates. dogs are you not? but as soon as the still ahead of time we get on the road is to say, look, well, but i cannot say avenue, the so fed horse redmond daily will expedite a new part of a c, luminous. yes. so liberal will call me pat is a lender let us shouldn't have an idea of it. we didn't those phone so not is getting not those that i most in the while that the. busy the guy the that by that is the sort of kind of proceed in the and how many adults does he have told him because he academic what the bad arose. martinez in federal, the plastic lynette simpler. another one is the quad 3 o 49 model and it doesn't mean it is a c, c, no, no, no, for the a. a said nobod

got rid of milton friedman and replaced it with email.lose that and warmed the bench for rachel maddow? >> who wants to do that? >> florida, georgia, the carolinas deal with the aftermath of hurricane helene. here's how you can help. visit redcross.org/box or just scan the qr code on your screen. that means hold your phone up to the screen with your camera. hi, i'm sally. i'm from phoenix, arizona. i'm a flight nurse on a helicopter that specializes in trauma. i've been doing flight nursing for 24 years. i had a fear that i wouldn't be able to keep up. i wanted all the boost i could get! i heard about prevagen from a friend. i read the clinical study on it and it had good reviews. i've been taking prevagen now for five years and it's really helped me stay sharp and present. it's really worked for me. prevagen. at stores everywhere without a prescription. we always had dogs, they're like my best buddies. yep, had them my whole life. c'mon bo! so we got him and he is a, an absolute joy. daddy's puppy. once we got on the farmer's dog he just

enterprise the real question is not whether they will explicitly embrace the prescriptions of milton friedman , it's about which policymakers they trust to get the economy moving ahead to break left behind communities out of stagnation and decline. the argument that partisans of free-market policies make, the argument most compelling is not there approach is the most philosophically sound, it's they are calling for s.a.n.e. sustainable flexible policies that will actually work to combat sclerosis and stagnation. what we need is free-market realism, not free-market ideology. many challenges including housing affordability, energy abundance, biomedical progress, even rising tensions call for renewed focus on unlocking the supply-side of the economy. this is some of what we will be discussing today. with that i am honored and delighted to introduce our first speaker, a genuine thought leader on the hill representative patrick mchenry of north carolina. during his time in office he served in a number of key leadership roles including his current position as chairman of house financial services co

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david: milton friedman, the free market economist, two words that matter in economics, incentives matterand certainly donald trump who understands incentives, adapts policies or invents policies that will help incentives not discourage them. kamala harris has spent her entire life in politics, not in business. do you think that makes a difference in the way their policies have worked out? >> absolutely. i mean, look, you have to get the right people for the job. so we have an economic crisis in the country, you need someone who understands economics. if we have a military crisis we need people who understand the military. in this instance what we have here, the country is on its way into a recession if we don't stop the direction that we're going and we need to do it by providing incentives for businesses to create jobs. that is tax incentives to create jobs, more jobs, so incremental increases and that they are covered by economic growth and we've got to make the government more efficient and the government wastes a tremendous amount of money and the only way to get the deficit under co

and we were quoting the nixon administration, milton friedman, being able to deal with some of the complexities here. people cheat because they have complex systems -- because the complex systems allow it. nobody fully understands these things. they're opportunities for people to game the system. people are poor because they don't have money. mr. larson is like a laser on the social security program. that works. section 8 housing vouchers are not insufficient -- in sufficient demand. any state in the union. and that's a very efficient way to use the private sector to provide housing. snap benefits and w.i.c. providing food for people. we get all caught up and i think we forget a little bit about how bad it was four years ago in the midst of the pandemic where we had all sorts of people contacting our office because programs didn't work. they broke down. part of the problem is the complexity. we have managers managing eligibility here, managers overseeing other managers, guardrails. i mean, most americans we found with the child tax credit, the money went where it was needed. it reduced child po

>> yeah, honestly this is a complicated topic and not easy to do, but the basic idea is that milton friedmante a book called "the monetary history of the united states" and what he proved is what we needed is slow and steady monetary policy, where the fed would raise the money supply at a predictable rate of roughly 5% to 6% allowing for growth but not cause inflation. the fed tends to look back in history and is slow to adjust its policy, and then the effects of monetary changes are variable and lag. they tend to not show up for 9 to 18 months. so the effect of a change in policy often would have been helpful in the past, but ends up exacerbating the problem going forward. >> of course. >> so we have the fed flood the market with cash during covid, taking the money supply from $15 trillion to $21 trillion, the biggest increase we have ever had. that caused inflation, just as the economy was recovering. then they slam on the brakes and take up interest rates up faster than the fed has ever taken them up, after inflation was actually coming down, and now they've been slow to adjust the intere

tariffs saying they would be in inflation creation and there is some merit to that idea, look at milton friedman'sng. of china had a 70% tariff against our cars, he would do the same and that got them to close it down a little bit and inflation as far as inflation is concerned inflation stayed the same his add tire administration. >> tariffs create trade wars like price wars and i lived through all of those, not a good thing but if you use it in practice, not policy like he did, he got us to the table. the tariff on evs sounds great but the consumer, the us consumer put their own tariffs on evs out of china, they are not buying them. i'm not sure the real impact on increased prices will have a basis. if you look at vw they were displaced in china, they are pulling back and if you look what happened in the us, jeff farley had to write $6 billion off, 2,500, the evs will happen but it has to be an evolution versus revolution. the other administration talks about all the ev on the road, there's 290 million fossil fuel cars on the road today. someone asked the second question, what happens when you ta

it's hard to say, but like what milton friedman says, when fed changes policy it's like turning on aer tap and it doesn't begin to run for six months or a year. it's going to take time so it's a positive aspect that the fed is going to cut rates and it will be good for cars, credit cards, for borrowing, for small businesses. it's just good news. it's optimistic because the economy has been doing very well and so for the fed to do this sends positive messages particularly in the housing market. >> last question for people who have been stymied trying to buy a home and trying to figure how long these current conditions will last. we hear anecdotally for places where they seem softer, evenex tex. what do you think will happen in the next six months and kind of into the spring selling season here. >> think there will be so much of what we're seeing overall. it will take time. inventory is a challenge in area like miami, palm beach and connecticut, and i think that's going to take time for sellers to get into the market again, but they will do that as the economy picks up, if there's grow

political traction, even though there was bipartisan support in the electoral community for the milton friedman and one side, all johnson's kennedy cia folks on the other. and so one wag in the department of aikido knowing how toxic the terms were put in front of secretary finch, the cover title for the bill that his folks were proposing, and it was the christian working man's anti-communist nationalist rivers and harbors bill of 1969. and was sent along with a somewhat caption to the president later. but it it was a long, drawn out battle. and nixon did get one piece of it, which was profound, important to women. there had been, as part of his family assistance plan, the so-called adult categories piece, which became something called ssi, supplemental security income and the old age assistance. part of that dramatically impacted women because think about it, think about the demographics at that time far and away the largest percentage of poor people were women and so disproportionately benefited women. the the other thing which we should think about is snap, which was nixon's food stamp idea.

i guess i had to burn her reading list, you know had t rid of milton friedman and thomas sole, and theyemailt rid of m media matters because how do you lose all that background from bloomberg and cnbc and then turn basically, you know, warming the bench forc rachel maddow? >> so who wants to do that? >> excellent. but before we on florida, georgia and the carolinas >> fing with the aftermath of hurricane helene. fox corporation has made aftenation to the red cross relief efforts. fox corporation continues to be an annual disasterricane h therg program partner, which enables the red cross to respond to disasters such as hurricane helene by providing safe, hot meals, emotional support and resources to aid in recovery. here's how you can help. visit redcross.organ hel forwar, slash fox forward or just scan the qr on your screen. that means hold your phone up to the screen with the camera. for those of you who don't know that the fast, this is up next . and so we are going to tryyour a to they say it's only fairwith c personalized financial advice from ameriprise can doon more than help you

look, we know for milton friedman noted democrat of course that fed policy works with long and variable lags, meaning that whatever the fed did today, we are not going to feel it in the economy by november, if the fed were actually trying to do something i'm not saying they weren't, but if they were trying to do something to help democrats, they would have cut rates like nine months ago that's around the time you would have needed to have any sort of effect on the real economy at this point. but more to the point the fed is politically independent. they prize their political independence. it is important for them to be seen as above the political fray as not being influenced by the near term political ups and downs of what's going on in the economy or what's going on in the country in order for there there are medicine to work, right? if people don't believe that they are politically independent, then they're going to say, well, we don't really believe that they're committed to stable prices. and so inflation expectations can get unmoored. we've seen this happen in lots of other, as you

but the broad point, and i've said this publicly, if you want to understand milton friedman made thistand how much your government is taxing you look at how much your government is spending because all public spending because all public spending ultimately gets paid for by the taxpayer, either through direct taxation or through direct taxation or through inflation or through borrowing. so we need to reduce our spending. now, the one area i think we need to spend more on is defence. and i'm committed to 3% of gdp in defence, in defence. but ian is absolutely right. our welfare bill has run out of control. we need to get that back down. we need to get people in work rather than on benefits. we need to make sure we give people that liberating opportunity to earn for themselves, rather than live on government. >> time is fast running out, but i just wanted to ask you about one more interview that's in the sunday telegraph with andy cook, who is the chief inspector of the constabulary. he's the person who oversees the police force, and he basically used the word dysfunctional to describe o

milton friedman free to choose, maybe hikes road to serfdom may have pushed things a bit in the better direction and and even that is kind of speculative don't really get to see the world without those books written. i mean what i'll say is, i mean, i'm doing the best i can my honest assessment is probably only i get tens of thousands of readers. unfortunately i need tens of millions of readers. and that's life. i mean, i just do the best i can. let's a question here. we have microphones, please, for the microphone, so that the rest of the folks in the auditorium and the people online can hear you. and please give your name and your affiliation and please a question not a speech or filibuster served back here. my name is tim houston. i am active. very active. the nimbys of northern virginia. thank you, jim. bless you for arguments to convince the many, many people who believe that building more housing will increase prices. because i know so many smart who actually don't think of supply demand so i'm read your book yet so perhaps you have ways to say that to convince people. yeah so ma

milton friedman free to choose, maybe hikes road to serfdom may have pushed things a bit in the better direction and and even that is kind of speculative don't really get to see the world without those books written. i mean what i'll say is, i mean, i'm doing the best i can my honest assessment is probably only i get tens of thousands of readers. unfortunately i need tens of millions of readers. and that's life. i mean, i just do the best i can. let's a question here. we have microphones, please, for the microphone, so that the rest of the folks in the auditorium and the people online can hear you. and please give your name and your affiliation and please a question not a speech or filibuster served back here. my name is tim houston. i am active. very active. the nimbys of northern virginia. thank you, jim. bless you for arguments to convince the many, many people who believe that building more housing will increase prices. because i know so many smart who actually don't think of supply demand so i'm read your book yet so perhaps you have ways to say that to convince people. yeah so ma

and he was part of was milton friedman part of your economic and another one was bill william buckley, amf buckley bill buckley, who really truly had a twinkle in his eye and was, you know, a special and and arthur and ronald reagan and all of them had us a real sense of optimism about america. and i think that's one of the things that made reagan special. he wasn't, you know, just saying these words. he really believed in the future of the country. and in his final speech that he gave his farewell speech, he said really something that i thought, i always remembered, which is they cut. and i think i'm remembering this, but i may not exactly for word, but he said they called me the great communicator. but it wasn't so much that i was a great communicator. it's that i communicated great ideas. and that was ronald reagan. thank you. we want to go? so i'd like to explore not only how he governed president reagan as a communicator, how he used that power, and how his impact is still felt in this today. andrew card has had more jobs in federal government than anybody else i covered in my 41