i knew milton friedman, and at any rate, and milton friedman was a gentleman, and i don't think there's any reason to disagree with what i just said or disagree with that little anecdote of yours. but go on, pardon me. >> host: he is, he is off the line. from your first book, "public nuisances," you write: the final irony of nixon is that the very qualities that earned him the wary respect of tyrants drove many american liberals right out of their minds. is it possible that the qualities that made him successful abroad made him a disaster at home? or was he ever a success anywhere? >> guest: uh, well, richard nixon was a complicated man. i've come to the conclusion that in that essay of mine on detente i was excessively harsh. but then occasionally i'm given to be excessively harsh. richard nixon and henry kissinger, i jumped on them for detente. the truth of the matter is detente worked. it gave us a breathing spell. it gave us time to work out to the position where ronald reagan could fashion an arms buildup that broke the soviets' back. so i think richard nixon was a successful presi

and milton friedman left and had nothing for of entrusted with richard nixon. >> guest: i knew milton friedman. he was a gentleman. i don't think he will disagree with what i just said or disagree with that little anecdote of yours. >> host: off the line from your first book, "public nuisances," fire now -- final irony of nixon that earned him the wary respect of tyrants drove many american liberals out of their minds. is it possible the qualities that made him successful abroad may have a disaster at home or was he after a success anywhere? >> guest: richard nixon was a complicated man. i have come to the conclusion that in that essay of line, he is excessively harsh but occasionally -- richard nixon and henry kissinger, i jumped on them for day, that gave us time to work to the position. it fashion an arms buildup that brought the soviets back. he had an aspect of the presidency. he was a disaster in other areas. he is awfully argumentative. >> host: tempo, florida. you are on with r. emmett tyrrell. >> nice to talk to you. i think ronald reagan would be rolling in his grave if he k

he the is a former google gentlemen are engineer and grandson of milton friedman. he founded the nonprofit institute to further explore this idea. since then he is explored engineering options looking for businesses that may be interested and looking for future residents. >> it could be a place to get away from it all. >> michael lives in southern california but he likes prospect of making the ocean home. >> i know a lot of people in in movement. to hang out people i know and like -- it would be an adventure. >> the first floating cities probably won't look like this but will be built aboard old cruise zblips we're experimenting with business models in the median term, they would look like oil platforms. >> they wrof to be more than 200 miles off coast but it will require millions of dollars to be built. friedman will need money and a lot of it. fortunately he is getting help from a bay area innovater. >> seniors make up 70% of the world's surface. >> pay pal cofounder has offered $8950,000. >> we have a great number of people focused on clean technology, green tec

friedman you know is said there's no free lunch and yet he his model has given rise to the biggest free lunch welfare bums in the world the energy companies like exxon and chevron and these other energy companies that the companies like all the monsanto for example that gets a huge subsidy to completely destroy the ability of seeds to reproduce and he is the ultimate free lunch but now we're at the end of the free lunch and nature is saying to the economy of the world it's time to pay the piper is time to pay your bill and people are squawking they don't want to pay the bill but it doesn't mean they're not going to pay the bill they have to pay the bill one way or another well between eco eco disasters are also in this headline max russia follows china and using reserve ratios to curtail inflation threat the twin eco eco disaster is number one is the economic disaster caused by the u.s. and that is the u.s. federal reserve plan to buy an additional six hundred billion of treasuries according to joseph stiglitz who is speaking in moscow last week he said that countries reliant on natural

the big difference history in the vietnam war and the conflicts today is thanks to milton friedman and richard nixon and congress we have the all volunteer military. every single one of those people who serve the country serves because they want to and consciously decide they want to raise their hand to go help protect our country. that dedication and patriotism and pride is so powerful. how does one answer that? i guess. >> host: like the johnson people said don't push us to tell what the sacrifice is made for. does anybody do that? >> sure. >> host: world were to i assume that is not hard but they were like iraq or a vietnam that it is not full throttle, what do you say? >> armies against navy's and air force against their forces, that is clear and understandable it starts and it ends and ended world war ii month the uss missouri signing ceremony. what we went through with the cold war was quite different many decades long the ideological competition of ideas and there will never be a signing ceremony today is much more like that. it is a longer period of time it is a marathon, not t

if you think about it, back in the 1960's, before president nixon and milton friedman and a whole group of people had pushed for a volunteer army, and president nixon managed to get it through the congress. before that, there were people serving who did not want to serve and our military. everyone there today is there because they want to be. the mood in the country is so different as a result of that. compared to the vietnam war, what is going on today in iraq and afghanistan, the american people are proud of the military, and the military are proud what they are doing. they know what they are doing and why they are doing it. that is why decided i wanted the proceeds of the books to go to those men women in uniform and their families and to the children of the fallen. that is what will happen to the proceeds. >> if you get on the donald rumsfeld foundation website, you see that you have around $10 million, you have given scholarship money away. how do you choose those people, and why are you doing that? >> i have had people work for me and governments who never could have gotten a mast

it comes from hayek and milton friedman. : >> she was talking to a nation that had already gone very far down this path, and she is able to convince his skeptical nation we've got to go the other way. there's no alternative. so how did she do it? i am by the way as disorganized as margaret thatcher is organized. i'll find it. talk first about keith joseph. keith joseph was a politician, conservatives, who was said to be factors intellectual. and was said to be prime minister in fact his place by many people but he was something of a political incompetent and he destroyed his political future by making their in temperate ill advised speech that appear to be on-call for eugenics, a call for poor people to stop producing already. did not go down well as it shouldn't have. he was very influential on margaret thatcher, and in 1974, you can find his whole speech online at the margaret thatcher foundation. he delivered a speech which i think should be taken as the first full throated public expression of thatcherism. and the title of the speech, interesting, that title is this is not the ti

the big difference between the vietnam war and the conflicts today is that, thanks to milton friedman and richard nixon and the congress, we have an all volunteer military. every single one of those people who serve our country serve because they want to serve. they serve because they consciously decided they wanted to raise their hand and and go and help protect our country. and that dedication and patriotism and pride that they feel is so powerful. now, how does one answer that? i guess the answer is that -- >> can i say what the johnson people said, don't push us to say exactly what the sacrifices is made for? does anybody do that when you see them? >> oh, sure. >> what you say? world war ii i assume, that's not hard, but a war like iraq or vietnam or something that is not, you know, full throttle, what do you say? >> a war is armies against navy, air force is against air force's. that's clear. that's understandable. it starts and ends. it ended in world war ii on the uss, the battleship with the signing ceremony. what we went through in the cold war was quite different. it was man

friedman and me who would represent the view that the fed would really be concerned about the inflationary consequences and the strength of the dollar, and the other view which was that unemployment was the most important problem and you'd have to coordinate policy. and that was the view, and that view was heavily represented by the vision that the phillips curve was the way in which we could make a permanent trade-off. it wasn't until 1968 that friedman wrote his paper and said no permanent trade-off, temporary not permanent. and that did have a big effect on the academic profession. and later it had a big effect on the fed. but it didn't affect the nixon white house and the economists there who were still, who believed what friedman had written but didn't want to put it into practice because they didn't want the unemployment rate to go as high as it was. ands there was probably social -- and there was probably social support for that, but that is why we have an independent central bank, because they have to be bold enough to ignore social support, and that's not an easy thing to do. and

and then a bit later, milton friedman. >> to that list maybe i'd, also, perhaps add one of bill's closest friends, namely henry kissinger. they went way back, and i think that henry had a, i think it was a mutual, a mutual influence. but they were very close. >> yeah, yeah. and hayek. >> you'll note how many libertarians there are among those. >> yeah. well -- >> that was always a part of bill buckley. he was, of course, a very devout roman catholic, very much a believer of the church, followed the church, believer. but also he did have a very strong libertarian strain in him, no question about that. >> in fact, it's interesting, his starting -- he started the column in '62, and in be i think it was '66 he did his first collection. it included some longer pieces, but it was mostly a collection of columns, the jeweler's eye. and then he did those collections, oh, every two or three or five years up until 1993 or '4, and that was the last one, and that is happy days are here again, and that is subtitled, reflections of a libertarian journalist. >> good afternoon. good afternoon. it's a real

milton friedman wrote a lot about that. people have been criticizing that because they want the government to spend more. we have a clear example. president bush in may of 2008 gave ever want a check. there was a rebate check. it was supposed to cause people to spend more money. there was no economic juice out of that and the second quarter of 2008. the public looked at it and said, great, the government gave me a portion of my money back and they will probably take a percentage in washington. the actual spending did not go up. host: our guest is the chief economist at bear stearns. our first call is from rick from california. caller: working-class republicans are the classchmp bt chumps on earth. forgive me for calling you a socialist, randi rhodes. guest: there was a huge amount of growth. in my testimony, i include a graph of the median incomes during that period of time. it came from a big surge in private sector jobs. extended in the reagan administration and into the clinton administration. unemployment was down to 3.

friedman, okay? he's rather huge. with then governor ronald reagan. develop a model for tax expenditure limitation measures nationwide. he is the author of the spending limits, constitution control of government. off of california's pioneering state term limits initiative and a member of the american conservative union board of directors. not to be messed with, total leader and servant, lou will introduce our next panel. put your hands together. [applause] ♪ ♪ ♪ ♪ [applause] >> ladies and gentlemen, what a great, great cpac this has turned out to be. [applause] >> when we met for the first time in 1973, at the mayflower, why, this was about the crowd right here. look what has happened since that time. it's a great testimony to the leadership of the american conservative union, today's teen and clayton mitchell and the whole team. and to the activists around the country and to the new tea party movement that we have, this huge and impressive event. to celebrate together the principles of freed