| 00:00:01 |
Unidentified Speaker, -
BookTV.ORG. .. >> Host: IN YOU BOOK, YOU ASK EVERYTHING IS FOR SALE, BUT YOU SAY WE'VE GONE FROM HAVING A MARKET ECONOMY, WHICH IS NECESSARY TOOL
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| 00:00:59 |
Unidentified Speaker, -
TO ALLOCATE GOODS AND SERVICES TO BEING A MARKET SOCIETY. CAN YOU EXPLAIN TO THE AUDIENCE WHAT YOU MEAN BY THIS DISTINCTION AND HOW AND WHEN IT'S COME...
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| 00:01:16 |
Unidentified Speaker, -
FOR ORGANIZING PRODUCTIVE ACTIVITY, AND MARKET ECONOMIES HAVE HAD ENORMOUS SUCCESS AT DELIVERING EXCELLENCE IN PROSPERITY IN COUNTRIES AROUND THE WORLD....
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| 00:02:26 |
Unidentified Speaker, -
POLITICAL, WAS IT CULTURE OR A MIX OF THE TWO. DO YOU SEE THIS ELSEWHERE AS WELL? >> Guest: WELL, I THINK IT'S A WORLDWIDE PHENOMENA, AND I THINK ...
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| 00:02:41 |
Unidentified Speaker, -
GROWING CONCERN ABOUT THIS, QUESTION ABOUT WHERE MARKETS BELONG, BUT WHY? I THINK PARTLY -- WELL, I THINK IT GOES BACK TO THE EARLY 1980S IF YOU LOOK...
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| 00:04:23 |
Unidentified Speaker, -
OF EXAMPLES OF THE CHANGE IN THESE CATEGORIES, AND YOUR FIRST CHAPTER IS CALLED "JUMPING," WHICH IS VERY INTERESTING. YOU TALK ABOUT HOW OVER THE PAST...
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| 00:04:52 |
Unidentified Speaker, -
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| 00:04:53 |
Unidentified Speaker, -
THE IMPLICATIONS BEYOND HAVING TO PAY MORE FOR SOMETHING WHERE
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| 00:04:57 |
Unidentified Speaker, -
BEFORE YOU COULD JUST WAIT IN LINE FOR
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| 00:05:00 |
Unidentified Speaker, -
IT. >> Guest: SMORE. SOME OF THE EXAMPLES ARE INNOCENT IN AND OF THEMSELVES, BUT IT ILLUSTRATED HOW MARKETS ARE
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| 00:05:09 |
Unidentified Speaker, -
PRESENT IN ORDINARY LIFE. FOR EXAMPLE, AT THE AIRPORT -- THERE'S LONG LINES TO GO THROUGH SECURITY. THE AIRLINES NOW SELL THE PERK OF BEING ABLE, IN...
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| 00:07:19 |
Unidentified Speaker, -
THIS, AND THIS SOMEHOW THE PUBLIC DEMOCRACY DECIDING AM I GOING TO WAIT FOR THIS. >> Guest: RIGHT. >> Host: DO YOU THINK THE DIFFERENCE SHOULD BE...
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| 00:07:33 |
Unidentified Speaker, -
ABOUT THE AIRLINES, I WOULDN'T OBJECT
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| 00:07:36 |
Unidentified Speaker, -
IF IT'S THE AIRLINE SAYING YOU CAN PAY $25 IN SIT DOWN FASHION, BUT I DON'T LIKE IT WHEN YOU CAN PAY EXTRA AND JUMP THROUGH THE SECURITY LINE OR THE...
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| 00:08:19 |
Unidentified Speaker, -
RIGHT. WHETHER PAYING TO JUMP THE QUEUE IS OBJECTIONABLE WILL VARY ONE SETTING TO THE NEXT, AND IT MAY HAVE PARTLY TO DO WHETHER IT'S A SECURITY LINE...
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| 00:09:44 |
Unidentified Speaker, -
PUT
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| 00:09:45 |
Unidentified Speaker, -
OFF BY THE IDEA OF THE TICKET SCALPING FOR ACCESS TO SEE THE DOCTOR IN THE BEIJING HOSPITAL, SUSPECT THE -- ISN'T THE BOUTIQUE MEDICAL PRACTICE A VERSION...
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| 00:10:35 |
Unidentified Speaker, -
SEATING PER CONGRESSIONAL HEARINGS, SEATS OPEN TO THE PUBLIC, BUT
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| 00:10:39 |
Unidentified Speaker, -
SOME HEARINGS ARE VERY POPULAR, AND A LOT OF PEOPLE WANT TO SIT IN ON THEM, ESPECIALLY LOBBYISTS, AND SO THERE'S A LONG LINE TO GET INTO THE HEARING....
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| 00:11:46 |
Unidentified Speaker, -
HEARINGS ARE MORE POPULAR THAN OTHERS. EVERYBODY WANTS TO HEAR THE PRESIDENT OBAMA HEALTH CARE HEARINGS, LET'S AUCTION OFF THE SEAT AND MAYBE SOMEONE...
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| 00:13:35 |
Unidentified Speaker, -
SERVICE PROVIDED BY THE GOVERNMENT AND SUPPORTED BY TAXES, THEY DO ALLOW PEOPLE TO PAY EXTRA FOR PRIVATE HEALTH CARE INSURANCE, AND MOST COUNTRIES,...
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| 00:15:39 |
Unidentified Speaker, -
THE BASEBALL STADIUM, BUT NOW YOU CAN PAY A LOT OF MONEY OR WORK FOR A COMPANY THAT PAID A LOT OF MONEY TO SIT IN A SKY BOX AND BE COMPLETELY ISOLATED....
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| 00:16:38 |
Unidentified Speaker, -
AND DEMOCRACY. FIRST, A WORD ABOUT SKY BOXES. WHEN I WAS A KID, I GREW UP IN THE MIDWEST NEAR MINNEAPOLIS. I WAS A FAN OF THE MINNESOTA TWINS. IN THE...
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| 00:17:11 |
Unidentified Speaker, -
GOT RAINED ON, EVERYBODY GOT WET IF IT RAINED, AND OVER THE LAST
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| 00:17:15 |
Unidentified Speaker, -
30 YEARS, THE SAME PERIOD WHEN MARKETS HAVE BEGUN REACHING INTO SPHERES OF LIFE, SUCH AS WE DISCUSSED IN HEALTH, EDUCATION, IN CITIZENSHIP, THE SKY...
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| 00:19:55 |
Unidentified Speaker, -
MATTER IF I HAVE THE LATEST GENERATION TV IF I LIVE IN A NEIGHBORHOOD WHERE MY KIDS COULD GET SHOT IF THEY GO OUTSIDE OR IF THEY ARE NOT ABLE TO GO...
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| 00:20:55 |
Unidentified Speaker, -
DEBATE CAN CUT
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| 00:20:56 |
Unidentified Speaker, -
ACROSS OR AT LEAST SCRAMBLE
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| 00:20:59 |
Unidentified Speaker, -
THE STANDARDS IDEOLOGICAL POSITIONS. I THINK YOU'RE RIGHT ABOUT THAT, AND FROM -- IN ONE WAY YOU MIGHT THINK TO RAISE QUESTIONS ABOUT MARKETS AND...
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| 00:23:05 |
Unidentified Speaker, -
THE PROFESSIONAL PART OF THEIR LIFE. >> Guest: RIGHT. >> Host: DO YOU THINK THAT THIS MAKES POLITICIANS UNCOMFORTABLE AS WELL?
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| 00:23:15 |
Unidentified Speaker, -
YOU TALKED ABOUT THE WORD "INCENTIVIZED" THAT I THINK PRESIDENT OBAMA USED 29 TIMES, YOU SAID MAYBE A COUPLE TIMES SINCE YOU LOOKED IT UP, AND HIS FOUR...
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| 00:23:18 |
Unidentified Speaker, -
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| 00:23:38 |
Unidentified Speaker, -
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| 00:23:40 |
Unidentified Speaker, -
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| 00:23:48 |
Unidentified Speaker, -
FUNDAMENTALLY ABOUT INCENTIVES. IT'S THE SCIENCE OF INCENTIVES, AND THIS IS AN ACTUAL THING, AND IT REFLECTS THE INCREASED AMBITION OF ECONOMICS AND...
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| 00:26:13 |
Unidentified Speaker, -
A PILOT PROGRAM TO PAY CORE STUDENTS TO READ, TO ATTEND CLASS, TO -- I THINK SOME WAS TAKING OUT LIBRARY BOOKS AND SO FORTH. IN TEXAS, YOU TALKED ABOUT...
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| 00:26:40 |
Unidentified Speaker, -
STOP SMOKING,
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| 00:26:41 |
Unidentified Speaker, -
TO LOSE WEIGHT. WHAT'S WRONG WITH THAT? IF I SAY, YOU KNOW WHAT? IT'S
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| 00:26:45 |
Unidentified Speaker, -
GOOD TO STOP SMOKING SO IF YOU
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| 00:26:47 |
Unidentified Speaker, -
PAY ME A THOUSAND DOLLARS TO DO IT, AND IF THAT HELPS ME DO IT FASTER, WHAT'S THE PROBLEM WITH THAT? >> Guest: RIGHT, RIGHT. IT'S A GREAT QUESTION....
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| 00:27:00 |
Unidentified Speaker, -
COERCE PEOPLE DO WHAT WE WANT THEM TO DO FOR THEIR OWN GOOD AND THE SOCIAL GOOD, WHY NOT USE MONEY? WHY NOT PAY KIDS TO GET GOOD GRADES? I SUPPOSE PARENTS...
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| 00:27:24 |
Unidentified Speaker, -
AGAINST IT ARE
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| 00:27:27 |
Unidentified Speaker, -
ACTUALLY POINTING TO A LIMITATION OF ECONOMIC REASONING THAT IS CENTRAL TO THE BOOK. YOU TELL ME WHETHER YOU THINK THIS IS RIGHT OR NOT. WHY NOT PAY...
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| 00:29:31 |
Unidentified Speaker, -
PUT ON POUNDS. NOW, IT SEEMS TO
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| 00:29:34 |
Unidentified Speaker, -
WORK BETTER FOR ONE KIND OF ACTIVITY, SHOWING UP, AGREEING TO GET YOUR CHILD A VACCINATION. A ONE-TIME ACT. IT SEEMS TO WORK THERE, BUT FOR THE OTHER...
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| 00:30:38 |
Unidentified Speaker, -
YOU'RE GOING TO PAY THEM, IT WORKS SECOND BEST IF YOU PAY THEM A LOT. THEY DON'T WANT TO BE PAID JUST A LITTLE BIT. >> Guest: RIGHT. >> Host: THAT'S...
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| 00:30:52 |
Unidentified Speaker, -
IN SWITZERLAND WHERE THE GOVERNMENT
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| 00:30:54 |
Unidentified Speaker, -
APPEALED TO PEOPLE'S CIVIC DUTY AND SAID WE NEED NUCLEAR POWER, A PLACE TO PUT THE NUCLEAR POWER WASTE, DO WHAT'S GOOD FOR THE COUNTRY AND PUT IT IN...
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| 00:32:07 |
Unidentified Speaker, -
IT, IT --
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| 00:32:09 |
Unidentified Speaker, -
IS IT A REAL RISK THAT IF YOU HAVE A MARKET FOR SELLING KIDNEYS, PEOPLE WILL DEMAND A PRICE THAT'S TOO HIGH TO PAY, AND YOU MAY HAVE FEWER KIDNEYS RATHER...
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| 00:32:32 |
Unidentified Speaker, -
ISSUE. A MAN NAMED RICHARD, A SOCIALOLOGIST, IN BRITAIN, YOU CAN'T PAY PEOPLE FOR BLOOD. IT'S GIVEN FOR FREE BY VOLUNTEERS. IN THE U.S. IT'S PAID...
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| 00:36:13 |
Unidentified Speaker, -
EXAMPLE, THERE'S A DANGER YOU WON'T GET AS MANY PEOPLE WHO SAY I'M GOING TO FIGHT FOR MY COUNTRY. YOU'LL HAVE PEOPLE SAY, I'M GOING TO FIGHT FOR $200,000...
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| 00:37:39 |
Unidentified Speaker, -
ETHICS AND MORAL REASONING. IN THE CASE OF SUR GAY SIGH, THERE'S A CASE ABOUT SURROGATES IN THE U.S.. SOME STATES PERMIT IT; SOME STATES DON'T. EVEN...
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| 00:38:24 |
Unidentified Speaker, -
YOU MIGHT
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| 00:38:25 |
Unidentified Speaker, -
ARGUE DO WE REALLY WANT TO BE PUTTING POOR WOMEN IN INDIA IN THE POSITION OF CHOOSING WHETHER, IN EFFECT, TO RENT THEIR WOMBS, OR IS THIS PAYING THEM...
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| 00:41:39 |
Unidentified Speaker, -
SAME 30 YEARS YOU WERE TALKING ABOUT, REDUCTION IN THE AMOUNT OF MONEY IT COSTS FOR YOU TO HIRE SOMEONE TO COME IN ONCE A WEEK TO CLEAN YOUR HOME OR...
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| 00:43:11 |
Unidentified Speaker, -
LOOK AFTER CHILDREN, I THINK BRINGING -- MAKING IT A PURELY ECONOMICAL COLLATION CHEAPENS THAT VERY -- CALCULATION CHEAPENS THAT VERY IMPORTANT DECISION....
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| 00:45:54 |
Unidentified Speaker, -
CERTAINLY -- MANY PEOPLE MAKE THE DECISION TO HIRE SWOP TO DO AT LEAST -- SOMEONE TO DO AT LEAST SOME OF THE WORK. NOTHING WRONG WITH THAT, BUT THERE'S...
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| 00:46:14 |
Unidentified Speaker, -
WANT TO TREAD LIGHTLY IN PUTTING A PRICE ON SOMETHING IS THE IDEA OF
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| 00:46:20 |
Unidentified Speaker, -
A HUMAN LIFE ITSELF. THERE MAY BE TWO THINGS UP -- INEVITABLE WITH LIFE INSURANCE AND NOW TREATING AN MONETIZING LIFE INSURANCE. I THOUGHT THIS WAS...
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| 00:46:52 |
Unidentified Speaker, -
BE PROTECTED, BUT WHERE
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| 00:46:53 |
Unidentified Speaker, -
ARE THE LINES THAT GOVERNMENT LEARNED TO DRAW AND THAT PEOPLE LEARN TO DRAW IN THIS AREA? >> Guest: RIGHT. IT'S A FASCINATING AREA, AND IT WAS ONE I...
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| 00:47:06 |
Unidentified Speaker, -
WITH BEFORE I LOOKED INTO THIS FOR THE BOOK. PUTTING MONETARY VALUE ON LIFE IN THE CONTEXT OF LIFE INSURANCE SO YOU DESCRIBED EXACTLY THE REASON WHY...
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| 00:48:37 |
Unidentified Speaker, -
HAD A SERIES
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| 00:48:39 |
Unidentified Speaker, -
AWHILE AGO THAT REVEALED THAT WAL-MART AND MANY OTHER BIG CORPORATIONS HAD TAKEN OUT LIFE INSURANCE POLICIES ON THEIR JANITORS. IT'S SOMETIMES CALLED...
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| 00:51:07 |
Unidentified Speaker, -
OF HOPING THE STOCK GOES UP, YOU HOPE PEOPLE DIE. IS THAT BAD FOR YOU AS A PERSON? >> Guest: RIGHT, RIGHT. IT CAN BE CORRUPT. >> Host: INTERESTING THOUGHT....
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| 00:51:21 |
Unidentified Speaker, -
WITH THE SO-CALLED INDUSTRY,
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| 00:51:23 |
Unidentified Speaker, -
WHEN PEOPLE WERE --
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| 00:51:27 |
Unidentified Speaker, -
SOMEONE DIAGNOSED WITH AIDS WANTED TO PAIR OUT NOW FOR MEDICAL NEEDS, AND AN INVESTOR SAID, ALL RIGHT, I'LL GIVE YOU A $100,000 POLICY, GIVE YOU $50,000...
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| 00:52:04 |
Unidentified Speaker, -
NOT YET. >> Guest: NO. >> Host: YOU RETURNED TO THE TOPIC OF
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| 00:52:12 |
Unidentified Speaker, -
MARKET TRIUMPHISM,
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| 00:52:14 |
Unidentified Speaker, -
AND MARKETS SHOULD RULE EVERY ASPECT OF OUR LIVES, AND CERTAINLY THIS COINCIDED, AND MAYBE WAS CAUSED BY OR CAUSED THE EMERGENCE OF THE FINANCIAL...
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| 00:54:03 |
Unidentified Speaker, -
AND BANKS TO BE RESPONSIBLE WHEN THINGS GO BAD, WHEN WRECKLESS BETS THEY MAKE GO BAD, SO I THINK WE NEED TO FIND A WAY TO GET RID OF THE TOO BIG TO...
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| 00:54:46 |
Unidentified Speaker, -
FROM HAVING TO FACE
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| 00:54:47 |
Unidentified Speaker, -
UP TO THE CONSEQUENCES OF THEIR FAILURES, AND I THINK ONE OF THE LINGERING POLITICAL EFFECTS OF THE BAILOUT, LEFT AND RIGHT, IT'S A LINGERINGCEPS OF...
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| 00:55:13 |
Unidentified Speaker, -
THE LOSSES WERE SOCIALIZED IN EFFECT PAID FOR
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| 00:55:16 |
Unidentified Speaker, -
BY THE TAXPAYERS. NOW, THE WAY IT UNFOLDED MADE IT NECESSARY TO PREVENT THE SYSTEM FROM COLLAPSING. PEOPLE UNDERSTOOD THAT, BUT IT WAS A KIND OF EXTORTION,...
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| 00:56:40 |
Unidentified Speaker, -
TRUST MARKETS BECAUSE THEY ARE AGAINST THEM, AND THERE'S A PERVERSE SITUATION WHERE YOU DON'T USE MARKETS WHERE YOU SHOULD, BUT USE MARKETS WHERE YOU...
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| 00:57:34 |
Unidentified Speaker, -
IDEA THAT SOMETHING
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| 00:57:36 |
Unidentified Speaker, -
THAT SOMEONE DOES AS A CAREER, OR EVEN JUST AS A HAND DIGNITYMAN JOB OR -- HANDYMAN JOB, THIS IS WORK, IT SHOULD BE PAID. IS THIS A RISK THAT WE GOT...
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| 00:57:59 |
Unidentified Speaker, -
THE EXAMPLE WE'RE DISCUSSING. I THINK THE REAL DANGER, WELL, ONE OBJECTION MIGHT BE THE YOUNG PEOPLE ARE EXPLOITED BY THE COMPANIES THAT ARE NOT PAYING...
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| 00:59:29 |
Unidentified Speaker, -
WERE SMART ENOUGH NOT TO DO VALUABLE WORK FOR FREE. ON THAT NOTE, WE HAVE TO WRAP UP THE DISCUSSION. AGAIN, THE BOOK IS CALLED "WHAT MONEY CAN'T BUY:...
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| 00:59:59 |
Unidentified Speaker, -
YOU. >>>
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.