i certainly don't think that in ie knee-jerk free-market appointive use such as tom sola and walter williams represent, tells us much useful if anything at this moment in time. >> host: how much is your new book, and volunteer previous book, imposter, of how george bush betrayed the reagan legacy this bank as a follow-up, more nearly focused but there was a lot in there that got me thinking about some of these issues such as why is it that all these tax cut during the 2000's and they didn't do any good at all and i think is because the riss design have been because who for partisan reasons a lot of people talked themselves into believing that tax credits which were essentially the same as governance spending were somehow different and it was okay to have tax credits and not have tax rate reductions and they just talked themselves into believing whenever the white house wanted was good for the economy and there was -- i say use the bs word. >> host: one more keyword and juan -- e-mail who -- one is a bad tax that made more sense in the 1970's when we had a much more large in manufacturing sec

i wrned if our guest has ever read basic economics by either thomas or walter williams.as far as i'm concerned, the federal reserve is keynsian, and also the thing that he criticized about the drug deal, that's keynsian. and are i would like to ask a question. does he think economics is an art or a science? i think it's a science. the same way the corps of engineers can determine how water will flow when they determine where to put a dam, human nature is the absolute that can be used to determine what economics is. host: in your all years in economics, have you figured out whether economics is an art or science? guest: it's clearly more of an art than a science. i think it's not really very scientific at all, except in its superstructure. you've got a lot of mathematics that looks very scientific. but when you peel away all the layers like on an onion and get down to the middle, lot of it is just pure judgment calls, people make their theories fit whatever they believe for whatever philosophical reasons, neble big government, small government, they're libertarians, socia

that a naive, knee-jerk free-market point of view such as tom sexowl walter williams represent tells us very much moment in time. host: how much is your new book a followup to your previous book, how george w. bush bankrupted america and betrayed the reagan legacy? guest: that's a bit of a followup. that was more narrowly focused, but there was a lot in there that got me thinking about some of these issues, such as, you know, why is it that we had all these tax cuts during the 2000's and they didn't do any good at all? i think it's because they were misdesigned and because, for partisan reasons ark lot of people talked themselves into believing that tax credits, which were essential the same thing as government spending, were somehow or another different and it was ok to have tax credits and not have tax rate reductions, and they just talked themselves into believing that whatever the white house wanted was good for the economy and it was just all, you know, i'd say -- i'd use the b.s. word if we weren't on tv. host: one for email. pat writes in, isn't a v.a.t. a tax on manufacturing

certainly don't think that i'm naive or knee-jerk free market point of view such as tom soil or walter williams tells us very much useful, if anything, at this moment in time. >> host: how much is your new book a folp your previous book, how george w. bush bankrupted america? >> guest: it's a bit of a followup. that was more narrowly focused, but there was a lot in there that got me think can about these issues, like we weed a tall these tax cuts in the 2000s and didn't do any good at all. and i think it's because they were misdesigned and for partisan reasons people talked themselfs into believing that tax credits, the same thing as government spending, where are somehow or other different and it was okay to have tax credits and not have tax rate reductions, and they just talked themselves into believing that whatever the white house wanted was good for the economy, and it was just all -- you know, i'd say --d but we're on tv. >> one more e-mail for you. >> guest: it's a tax on sales, on consumption, and ideally you want it to be as broad as possible to include services as well as manufacturin

ed, listen with me for a moment while we play walter e. williamss guest host on limbaugh's nationally cindy indicated radio show. here what happens he told listeners about limbaugh's condition. >> first of all, folks i should say that rush continues to rest the very comfortable in the hospital in honolulu. he had a comfortable night and he's getting good medical attention. yesterday -- let me go back a little bit. yesterday, wednesday, he was taken to the hospital in honolulu after complaining of chest pains. those pains were the kind of pains that makes one feel like he has a heart attack coming on but it has not been confirmed that its a heart attack. today, thursday, he'll have a complete examination and will know more. and we'll keep everyone informed when there's information to share. we just don't have a lot of information to share right now. know this, rush is in good and stable company, comfortable, as comfortable one can be in the hospital while on vacation, and he's in good hands. >> ed, kind of unfair to bring you in because we may have

and william faulkner but he was also a very good friend of walter percy for many years until walter percy's death. before he went off to be a rhodes scholar the summer before, he was still on his great writer mission and offered a job as a summer intern by "the washington post" and he turned it down. he turned it down to become a stevedore on a derrick barge on the mississippi and the reason this was part of his great writer quest he felt that in doing so he could encounter so many crews of so many colorful characters that he could write a novel would be a serious contender to huckleberry finn. mark twain was the one he was trying to knock down. well, still, it didn't happen. but in his drawer, he says in his desk drawer their lies a manuscript still unfinished about the happenings on derrick barge on the mississippi. there is a captain coone, his name is, and i think this is as we have walter here this evening we ought to commit to him if he'd just get out that manuscript and polished off we will all come to hear you read from your book. what his -