can do. if we spend a little more here and there, how many jobs you can create. we want to keep tracking the money and showing the impact it can happen america with the foundation is focused on that and my job is to keep being a spokesperson and keep inspiring out there through this tour to look for and support our businesses. >> host: so you have a bright future ahead and hopefully 10 years from now we can say kareem has 20 grocery stores. the future of the experiment. thanks for the conversation in your time. we'll be checking you and the empowerment experiments in its next phase. >> guest: thank you. thank you so much.
everything. a renaissance gathering. we talk politics, philosophy, sentence and technology, religion, healthy living. we have raibility of everything for everybody. we get a wide group of -- we have an investment conference. our focus on political, economic, an financial freedom. it's growing. we are bigger every year. we have over 2,000 people here at the event. we're growing. by next year we move to caesar palace. and our theme next year will be are we rome? i think it will be a controversial topic. >> is it response ored by the libertarian party by libertarian groups and are you a libertarian? >> well, i hate labels. in fact, when i get up and give my talk, i always tell them, let's treat everyone as an individual. everybody has different kinds of view. we don't like political labels.
libertarian is the closest way if you want to identify me in some sense. the freedom fest is not connected any way to any political party. it's a for-profit corporation. we invite all the non-profit think tanks here. freedom organizations, so cato and heritage and reason here are as well as freedom works and americans for prosperity. some of those non-profit organizations. we don't compete with them at all. we pay a single price of $500 per person. you have three wonderful days. we bring an intellectual feast to a fun city las vegas, you know, it's cool. >> what's your background? >> well, i grew up in portland, oregon, and i am a active mormon, and so i went on a mission for the mormon church and graduated from byu and
worked for the cia and then broke out in to the financial world and since then, got married, five children, move to the bahamas for two years. life and living color, saved enough money to move to london where we bought a flat, and been to 71 countries, just -- i've written a investment. that's my primary source of income. i have one foot in the academic world. i have written a number of books on economics. i teach economics and business at the college in florida, and colombia college and mercy college. i should mention my wife does the anthem film festival. we have a festival here as weapon. we have a lot of things we do. we enjoy it. >> quickly, what ask you do for
the cia? >> good question. actually, i was an economist on the brazil desk and very much involved with commodities and the energy crises a the '70s but, you know, cia was just bureaucracy for me. i wanted to break out and do something for entrepreneurial i got involved in the financial revolution. started being a managing editor of a news letter called "inflation survival letter." in the 1980s which is now called "personal fitness" a more establishment name. my tone news letter was started when ronald reagan was elected it's been a great ride. i consider myself a survivor in many ways. i've maintained some of my contacts with the cia, because i think they are a good sourings of information we're a global economy and the cia does everything, you know, we do -- we're the cia did research on virtually everything, political,
economic, full-time, you name it . >> we invite on booktv to talk about the making of economics the lives and great ideas of thinkers. this is the second edition. correct. when did the first came out? >> 2001. it took me about five years to sit down and actually write probably a lifetime of learning put in to this. the second edition came out in 2009 right after the financial crisis. we felt it needed to be updated after that event. my final chapter is dr. smith goes to washington, they try yum of premarket economics. it was premature considering what happened in 2008. we had revise the final chapter especially. >> how was this book organized. >> well, initially what i try to do, peter, was create an
alternative to robert's popular book, i wish i had his -- title such a great title. it's the story of the great economic thinkers starting with adam smith and covering karl marx. progovernment activist statist whatever you want to call them. my perspective was more i wanted to more balanced approach. and so i wanted to highlight more of the free market thinkers and what their role was. in fact the heroic figure of my book ised adam smith the dover by makinged a dahl smith the central character of the book and the theme of system liberty which is called it in wealth of nations i was able to tell a
story so this book is actually a story. it has a plot, a plot is how the adam smith and the system of natch of natural liberty are treated over time. how they come under attack. the marx, and so on and how they are resurrected brought back to life and improved upon by the other schools of economics, the us a tree began school, the chicago schools of economics, milton freemont. it's really a unique, i think i have done something really unique and why this textbook is very popular. i make it a real story with the heroic figure who try yums in the end. it's a true american story. becaused a dated smith mom model is the molingsd i see as the eye deem. >> who was e -- the premier us a
tree began economist in the 20st century and taught initially at the university. he was jewish and he left during world to war ii. came to america, and his economics became more popular during that time pored. never as popular as milton freemont. certainly a heroic figure in my book with the us a tree began school. his -- one ever his not students but one of his close associates freed rick wouldn't nobel prize in 1974. he's an important character in the book. >> when they talk about the school what does that mean? >> the school is one of two major free market schools of economickings. >> the other school is the chicago school that milton and george developed in the '60s. and this is a more hard core school that advocates the gold
standard, it is very suspicious of intervention by central banks, particularly the augusts tree began they say the manipulation of interest rates by the federal reserve can only have the disastrous effects. creating a boom bust cycle unsustainable and so a boom that's unsustainable that ineffortly will lead to a crash. it didn't surprise the economist that the real estate bomb could not last and mt. mark economic effects. >> you also feature paul in here. >> yes. >> he is not a member. >> no not at all. i have a whole book chapter on marx called marx madnd economics in to a new discharge age. you know my views about marx. each chapter has the -- i try to create the clever titles, milton's paradise. and paul and paul was a marxist
economist that taught at harvard university. and actually joseph who was an economist defended having paul there harvard to teach there and finally we kick out and started a his own -- i think it was a month review something like that. a pub publication to defend marxism he got albert ion sign to write for the first issue. it's like getting marlin to post for the issue of playboy. it was a brilliant man that died a few years ago. kind of the representative of the marxist academic point of view. and as i point out, the marxist have a similar views to the u.s.a. tree began in one respect. both schools are pis mystic about the future.
the the capitalism is about to close any time. the they have a same thing. the economic boom we exist cannot last. it must end in a crash or depression or what have you. i'm a little bit more optimistic. i'm more in the chicago school in that sense. milton freemont which i have a major chapter on is an optimist, and so am i. more of an optimistic believer in our country and in the buy economics are taught. >> is there a contemporary milton freemont or freed frederick in the world today? >> that's a good question. i mean, certainly peter sure of puts himself as out as modern day. he's one of the more popular -- he's a finance guy. he's not an academic.
from the chicago school, of course, there would be gary becker. he's getting thereupon in age. he must be 80 years in age. as far as young people that are coming up, maybe some people at the george maison university, which is a hot bed of us a tree began economics there are young people coming up writing columns for the nighttimes and so forth. thomas is in his 80s. it's hard to say. my book is one of the more popular textbooks now and so i teach and so forth. so i've been on the of it shows and stuff so maybe i'm playing a little bit of a role. it's freemont always said that
he stood on the shoulders of giants. as isaac newton said. i feel the same way. i benefited so much for all the great economists who have come before me. >> you said you teach. where are you currently teaching? >> i'm actually teaching at mercy college teaching a program at sing sing penitentiary, believe it or not, i was teaching at colombia university. , and teaching the best and the brightest. i'll tell you what, i teach in maximum security prison. they are all male. 25 students i teach economics and business that. i have an incredible thirst for knowledge. it's unbelievable how the men who have been committed serious crimes in the youth trying to turn their lives around. i have stiewmentds at sing sing who have read the entire textbook before coming to class. i couldn't say that -- some of my students at colombia.
not all of them. so i'm teaching that. my wife teaches english literature at sing sing. it's part of mercy college. it's a four-year college degree program. all privately funded exempt for the prison itself. no prel grants, no federal or state money. we have a non-profit called hudson link that deals with that. my son made a film called "zero%" that will be on nationwide tv soon. that actually describes the whole sing sing education program. >> what's that experience like teaching at sing i think? >> well, i'll tell you. it is such an emotional thrilling, rewarding experience both for my wife and 05 to teach these young men and some of them older people who have committed heinous crimes, murder, what
have you, see the error of their ways and turn things around and the education process as well as the ministry program is extremely important. there's nothing like a graduation smoan. they bring in a major name of one sort warren buffett was there a few years ago. his sister, as a matter of fact, is a major supporter of hudson lynn, the knob profit organization linked with it. you go to the graduation smoan and it's incredible. fist of all, there's no separation of church and state. they have opening and closing prayers. they they're saying amen, they hold bibles or korans or the tablet or what have you. they always have about a value dick or valedictorian get up representing the graduates. there's usually maybe thirty students that are graduating. getting an aa degree or bachelors degree. and the valuing dick or it began gets up and says, you know, i
started off my parents r my mother had great hopes for me. then i got in the wrong crowd, i got in to drugs or what have you, and then he says, and then i killed a man. and, i mean, even though you know they're in there for murder or what have you, it's still a shock to everybody. and but then he describes how the educational ministry program transformed his life. and how they feel like they are new citizens. what's excited about the program, and what's getting the note ryety, my son was able to do the movie because zero percent because something like 60 the students have left sing sing graduated and left sing sing. most still stay in prison. not a single one has returned. and the national resit vifm rate of learning to prison is over 60%. so, you know, this is a great,
positive story. we hear all these stories about how bad the criminal justice system is. here is one that's working. it's privately funded. i think it's a great libertarian story. >> do you stay in touch with any of your students that have gotten out of . >> yes, as a matter of fact for hudson link does an an yule meeting with the donors as well as the people the inmate bhos have sense left. we get to see them, and communicate with them and see what they're doing. they all have jobs. is a exciting thing. in a market where jobs are scarce. they all have jobs. it's, you know, -- they have gone through jail, they have been through this life, really a tough life, but now they come out and say look whey have i accomplished. i have bachelors degree. i graduated from college. most didn't graduate from high school when they ended up in trouble. it's a great experience. the graduation ceremony and staying in touch with the
people. my wife in particular is in the film, and talks a lot about how she teaches and it's just -- you can tell, i think from the enthusia ability the program. it's great. >> do you have a followup to the book brewing at all? >> well, in terms of a writing ? >> another book? >> i just completed a book called "the maxims of wall street" which is the first comp police station of all the says on wall street warren buffet liked it. i found out why, he's quoted more than anybody else in the book. i just finished that, and i am working on a book little bit like david called the "spirit of 1776" and it's all the events that took place internationally in the year 1776. from thomas paine's common
sense, to the wealth of nation by adam smith, the fall of the roman empire. of course the declaration of independents book within articles the first major sometime engine came out in 1776. there's a lot of david human who is the kind of the father of the policy for of the enlightment died in 1776. george washington cross the delaware. there's a lot of things and not just george washington which was david point of view of 1776. so i'm working on that as well as a few other projects. but it's -- i love writing books. i love teaching. and love doing freedom fest. it's a great way to meet the authors and see what's happening in the world. >> we have been talking with author mark and founder of freedom fest. booktv is currently on location.
"the making of modern economics" is his book. the lives and ideas of great thinkers. thank you for being on booktv. >> thank you. john kennedy once met with harrold prime minister in newspapers, you know, they discussed amples control or whatever. issues between the two powers which they sure did. but only long after wards did we get the notes on what they said exactly to each other in private. it turned out that kennedy spent a lot of time complaining about bad press coverage. they were being tough on jackie and other things. and mcmill less than who was a generation older why do you care? brush it off. it doesn't matter. you have other things to worry about. and kennedy said that's easy for you to say, how would you like that from the press said that your wife was a drunk. and he replied, i would simply say you should seen her mother. [laughter] >> that's the kind of thing that
later that sort fun thing to give you an idea what they were like. you can't learn it in real time. >> historians and biographers use the advantage of hindsight to understand their subjects through a prison imof time. sunday your questions, calls, e-mails and tweets for presidential historian michael pop the lives of presidents. and wars, hots and cold in-depth at noon eastern on c-span2 booktv. so z you can see it's a short introduction. to a big subject the u.s. supreme court. it's not the kind of book that an author is going to do an reading from. it's no not a dramatic novel. it's a dray matteddic story actually when you step back and think about the supreme court over the century. and i know many you here because the supreme court today is very day or next week three days of the health care case being
argued. the court more visible in american life than it's been for quite some time and i'll be happy to chat about that and an your questions. but i want to talk a little bit about and frame the story of the supreme court. in writing the book, what i try to do was put myself in the position of i'm assuming many of you or myself before i had the chance to attend law school and spend the next thirty years writing about the supreme court on a daily basis for "the new york times" nap is say somebody interested in public affairs and civic life of the country, but just doesn't happen to be an expert on the particular topic. so what would a person like that, a person as i was, and maybe some of you are, need to know to really get a personally
satisfying handle on the court. with that is a kind of framework, what i propose do is really make a series of observations that i'll elaborate on and then turn it over for what i expect will be fruitful and fun conversation among us. when you step back and think about the the court, one thing that jumped out at me as i was organizing the material to write this book, the extend to which the supreme court is really the author of the own story. it wasn't given very much to work with. i mean, i said i wasn't going read. i'll read the first sentence of article three of the constitution. which says, the judicial power of the united states shall be vest in one supreme court and inferior courts as the congress may from time to time or dane and establish and that's kind of it. the article three goes on and
talks a bit about the jurisdiction of the court and so on. but many, many unanswered questions including, fingerprints, there's no mention of the chief justice in article three. we only infer that there's supposed to be a chief justice because he's given in article two the presidential article the right preside over -- not the right, the duty to preside over the impeachment trial in the senate of the president of the united states. and remember william did that in the bill clinton impeachment tree. when he was later asked what had amounted to, he said, i did nothing in particular and i did it very well. [laughter] so the duties of the chief justice are undefined. and much about the supreme court initially was undefined. so it really had a creative
self-and it's done so not in a straightline profession. it's done so true the cases. the cases that in the early years it had to decide because it had little discretion over what to hear. and the cases this day it chooses to decide. and even that was a choice by the supreme court. you know, most appellate courts today in the country they have to take what comes and so they act sort of as courts of review or courts appeal, courts of error correction and that was the supreme court initial faith or so it seemed by william howard taft, the capstone after the presidency was becoming chief justice of the united states and he sized this up and thought the court would greatly benefit from the ability to
write the ticket create the own docket. not have to take every case that came along. under his leadership, his urging, congress passed in 1929, what's known as the judge's bill because all the judges of the country got behind this effort. an gave the court for the first time discretion over its docket. and so that's the place we are today. we have a supreme court that is capable of and does set its own agenda and in doing that, it sets the legal agenda for the country. you can watch this and other programs online at booktv.org. tonight on c-span2 booktv, a look at economics from global to local. up first "the wall street journal" kristin grind exams the 2008 complains of washington comiew mutual.
doeses his list of countries that will make up the economics diseases stories of the future. and later mag gi aroundon is the guest on afterwords. her family spent a year buying only from african-american owned businesses. during the republican and democratic national convention we're asking middle and high school students to send a message to the president as part of the c-span student cam video document area. what's the most important issue the president should consider in 2013 far chance to win the grand prize of $5,000 and there's $50,000 in total prizes availability. c-span student cam video competition is open to students grade sixth through twelfth for complete are details and rules go onlike to student cam.org. comes report kristin grind exams the 2008 collapse of washington mutual the