That he was just strong as she wanted the whole thing to go away. Well, he didnt listen to this. He managed to get other people to override her testimony, so arthur bowen with convict and theres only one punishment for that, which is the death penalty, capital punishment. So arthur bowen goes on to jethro in january 1836 is sentenced to die in about a month. So with the clock ticking, mrs. Thorton do something even unbelievable it was amazing and she testified that arthurs behalf in criminal trial, but now she goes and starts recruiting in high Society Washington and she was a very prominent woman with many prominent friend come easy access to the leadership of the country. Shoe into the is user good hospices until a until he should part with arthur. His mother is very good. The execution is worse than the crime she couldnt contemplate arthur would be executed. He and jackson were on lives of the clock keeps ticking. Otb cytometry and four to discuss his book, the coming prosperity. Or fessler are spoiled was in attendance at the book festival held at the annually. Joining us at george mason gears professor Philip Auerswald, his most recent book is this, shrink three. Heres the cover of the book. What role does fear play in development . Well, thats a great question. They dont talk about what role does fear play in our conversation about development, so when we talk about our reality to share our ideas in the marketplace can we compete with other atheists only know three things about marketplace ideas. Shortterm sells better than longterm. Fear sells better than hope that negative sells better than positive and exaggerated sells better than moderated. So we see a disproportionate number of shortterm narratives of negative exaggerated stories essentially. So shortterm, negative can exaggerated. Theres good reasons for that we are creatures that grouping savanna or environments where were the only subject to threats. So we are looking at the thats going to hurt us. But we are no longer as environments. We are in a complex economy that really relies on organizations to provide us with necessities. So we have to everything you and the longerterm, focus on stories that represent trends do not exaggerate noise and we have to get away from here. So fear play the role in the development of human societies in the earliest stages is encoded in our dna. But to evolve to this complex modern environment we live in, we have to update. So thats a sure question speaks to you. Host are you fearful venture capitalists . Guest you know, the opposite of that is maybe you say well, venture capitalists has to be inherently optimistic, you know, because why would you invest in some thing that the returns and so forth. Telling about and prosperity, that is history easily care to race. This is not to miss the. From my stand point i think about optimism about the definition of an optimist if somebody was systematically latepromoter desiccate the true distribution of outcomes is. And the pessimist if someone has systematically really. They are there an hour in advance. Anything couldve happened. Had to be sure. We know those people, too. You dont want to be systematically wrong about the true distribution of names but underestimating the bad or honest but it seems that happen. I dont feel like im doing either. This is a narrative that looks at the true trend. Venture capitalists cant decide is an optimist. They cant survive as a pessimist either. Venture capitalists has to look at capabilities, what the market is, what demand is and to put resource is where they are needed to create the future and thats what im talking about. You say youre not necessarily not to miss, but the book is optimistic, even though we are in a time of economic upheaval in the world. Guest again, it goes beyond the semantic point. We are in a time of tremendous economic upheaval. Bullets contextualized in two ways. First of all, ours is the most dynamic and promising era in Human History bar none. Because in our lifetimes the majority of the worlds population is joining the global economy. What does that mean . And should be estate brought her to people out of poverty. When china joined the global economy, so far today they brought 300 Million People out of poverty. Chinese saving in the world Financial Markets were part of which are the most recent. Alan greenspan couldnt figure it out. He was looking at the reality of our moment. He called this conundrum. Unit back to it when he wrote his book. As brilliant as a menace alan greenspan, was unable to grasp the reality of our historical moment and he was in part due to the failure of systematic errors were made that led to the meltdown in housing markets. An adequate response and policy to a sea change in Financial Markets to growth elsewhere in the world. In the next 20 to 30 years, 3 billion people are joining the global economy. Its going to be a transformation tintin stories seem, which is 10 times that happened in japan. 3 billion people are suddenly given cognitive freedom, suddenly not think a moment to, daytoday in this existence, but our creators, collaborators, new contributors, human being are not just consumers. They are producers and that is what this is about as the possibilities created when that happens. Im certainly not the only person telling a story. Professor, is one of to receive profiled, discussed in the coming prosperity . Guest thursday seeming inevitability to malta. Im talking about increasing prosperity, shouts at him. The theater pieces exactly what she got. Nothing happened in Human Society unless people make it happen and i used the word dutch were numerous. Im just talking about creators of the future. Theres all kinds of other people. Artists create in the future. So when we think about those stories that are the centerpiece of the book, a big piece of eye with the book is to share stories ive learned from the people have to know in eight years of adding a journal called oval challenges. So just one is a gentleman who is an optometrist in Southern India and in the late 1970s he retired and ss retirement project he was about 57 and wanted to descend before his community. And so he decided he was going to try to address the problem of needless blindness due to cataracts. In the United States as an outpatient operation. You dont have people blind due to cataracts. And the rest of the world theres a hundred Million People blind due to cataracts. So this is not a was no wanted to address. So we started the clinic in his home in yet another benson family members hope to make up this thing off the ground. Forward not just one or two or three great ideas, but hundreds of innovations. Tenacity of an entire community, global team of people, one of the folks who contributed to the eradication of smallpox. David greene. All these people built together to build the hospital and to this day, the hospital has secured 3 Million People of blindness. I do imagine the entire washington metro area of about 3 Million People. Imagine all those people blind. Now they can see. That is not unobscured story. It is not an obscure store in the worlds of people recirculate. People travel to go to that hospital to try to bring the same programs to their countries. It becomes a movement to end needless blindness. Vicious one example. You might say thats a crazy story. Thats got to be an exception. Those are the stories transforming the economy. Societies building the future. Ciresi said the next 20 years come in 3 billion more people will enter into the world of economic freedom. Through my cognitive freedom, economic freedom. Post go with it at the wild wild west . How should it be managed . Guest well, my core metaphor in describing the economy and the interaction of economy and societys rain forest. When we go to the rainforest or whether its the Pacific Northwest or amazon, you have the sense of life all around you. Thats what Human Society is. A rainforest is a selfregulating environment. When we put regulations and, without government regulation same. Thats also part of selfregulation. We create rules for ourselves. That is selfregulation. We regulate each other through competition. The main thing that keeps the rainforest site rent is that you have the canopy which in the u. S. Economy be the big firms, ge, gm, walmart, all that. Then he got the small business. But its the small and growing permit the things that were small but can challenge the big and its what happens in the big tree falls over. New trees to read out of it, right out of the old tree. It is a metaphor, but its real. When we lose something in the economy, its vital we reconfigure resources and create something new out of it. So do we need control . We need feedback. We need the capability to repurpose. In this country, we need to build a robust platform for people to realize what they have incited that. That is why people came to this country and that is why people here look for a Better Future will be like a Better Future feature their ancestors looked to when they came. So i would say yes, you know, we need control, but we need controls. All kind of interdependencies and selfregulation, whats working, whats not what gets us to the endpoint, which is better may take human lives. Its not gdp, not increase transactions. Its what kind of lives we live. Host professor Philip Auerswald, one of those trees, gm a couple years ago nearly went bankrupt to go bankrupt, was built out by the federal government. Should it have been held out for to fall . Guest you know, i am just on the verge of flipping on that one. Poster we did the same with chrysler. Guest i talk quite a bit about gm and Charles Wilson is a guy who allegedly said was good for gm is good for america, but he actually never said that. Its going to use the quote because i thought it characterized the worst of the corporatism and feeding the elite, the incumbent industry. He didnt say that. He is a guy who cut the Defense Budget by 20 in the late 19th at ease in this defense cuts come at this budget cut in the late 1950s were the number one reason we telecom valley. A lot of radio engineers moved out there. Theres a beautiful part of the country that maybe didnt have jobs and those people were saying well, we want to say here. They created eventually intel and all the rest of them, right . So we were in a very tenuous moment. With a financial crisis that led to that crisis in auto industry. Adding on top of that psychologically the failure of the big three automakers, tough call. By the way, i dont know why anyone in this president ial election mentions that this is a bush program. I have a chapter about left, right forward. We need to at least get history rate. Continue to the other, thats not what it is about either. But what wouldve happened if we wouldve let it go . Wouldve been all this manufacturing access, contracts out the door. Skill itself by factory at 10 activist resources . What would happen if we had the courage to do that . Again, i think he wouldve been a big risk. But it wouldve been exciting. It either been a great thing for American Auto workers. Poster we are talking with Philip Auerswald, professor here at george mason university. His most recent book, the coming prosperity how entrepreneurs are transforming the global economy. He also served as an adviser to the clinton Global Initiative. What do you advise on . Guest while clutching a knack for asking me that question. Purchased at the Global Initiative the last three days and ive been working with them for the last three years. The reason i think you is because i really appreciate that affiliation. They have a wonderful platform they are and they need advisors on the program he was sort of things to feature, where people bring new ideas and challenge that audience to think about different ways to engage in the world. It is particularly relevant because then every participants back as they register for the initiative this year, they received a copy of Time Magazine in which president clinton had authored an essay titled the case for optimism. And that the clinton Global Initiative this year, Chelsea Clinton led what was called the case for optimism. She was interviewed by charlie rose and i was the focal point of their conversation. So i am totally synchronous with that message and that the clinton Global Initiatives focus on finding Collaborative Solutions to the worlds greatest challenges. We have a lot of great challenges. But we dont address those challenges by propagating exaggerated narratives of fear. We do about any Creative Potential in all people and working together to build a future we can all believe in. Resolve those problems by focusing on the positive. Host a lot of pickup Jason America i dont know if peter is the right word, but sold to the federal government and what policies are good for selling to the federal government. The federal government is a big customer. Is this a good trend . Is this the way our economy is structured . Guest again, it ties the record to the question you just asked. Good contextualization is on one hand people say this is someone who believes in markets and much partnerships. He must be over there and on the other hand i have this high regard for president clinton and i dont often talk about Hillary Clinton. I just was there and heard her speak. She gave a speech and you can take with the secretary of state title and the Hillary Clinton named, just look at the text. The speech he gave on Development Assistance was one of the most accurate, honest and even courageous speeches ive seen on the topic. What did she say . Should set a couple things no one ever says that Everybody Knows to be true. Number one objective. She listed three, but it is the third and most significant Development Assistance programs to work themselves out of business. She said that. Development assistance is not in the business itself or obligation. There should be a timeline. When does it end . When do we stop . When do we leave in haiti, pakistan. Atlanta zero. Finally important. She said that. Second thing getting back directly to your question had to do with corruption. She talked about corruption as an obstacle development. She tied a line directly between corruption and poor countries and corruption in the United States inside the beltway contracts that are fed back. We can talk about a lot of other system and tie and outlined that we are part of the world. We are subject to the same kind of forces of incumbent economic interests capturing the political process, getting government contracts in effect now comes. To see somebody of her stature stapes hangs is more than an ibook. So what youre saying is true and is deeply important. Host Philip Auerswald, you read about the Current Telecommunications we are living through and trying to understand and manage. Help us. Host first of all we have to understand the difference between them mobile phone and a rich country and a mobile phone in most of the world. So before the mobile phone, only two technologies to read as widely. No technologies that are spread as rapidly as the mobile phone. The only recent one was the transistor radio and arguably before that it was fire that spread as widely. So we know what mobile telephony means in our life and all that, but what does it mean for the majority of the worlds population . Well, it is the communications. We have built highways, communication highways in two places and connecting people that were never connected before. In afghanistan a talk about the story. Another entrepreneurs possible for creating the afghan cell phone company. This is maybe the biggest story in afghanistan in the last 10 years and we dont hear about it. Why . The fact that more afghanistan access to mobile telephony they know how to read or write over a decade ago they wouldve had to work 700 miles to make a phone call. Thats not a story. It is a story, a very big story i would imagine for an ordinary afghans means a lot to them in terms of capabilities. But what is more exciting is what happens when you build a railroad or land on the other side of the road with the lander on the station gets valuable. You can provide services now that you couldnt provide before. So its the next generation, when we start to build on the side of this new telecommunications highway. Mobile health, mobile banking. A whole array of services we cannot deliver because we are connected using this Frontier Technology and that is such a powerful, powerful thing anyone clicks on the next 20 years, not to mention Everything Else my friend talks about in his book, abundance, often due to allergies. They just telephony has so many. Host who is the coming prosperity written for . Just go to certain for folks watching this show a general audience in the event dates. I ended the u. S. I feel is that this story is particularly needed in the United States. I dont believe that people in pakistan or china need to hear this because they see it. Even pakistan has really struggled here theres so much potential. I think its next global opportunity. If i connect resources i would tell people that they could to reap the dividends before shared with other people. But its just really exciting. So its really people in this country and it is for anybody who believes this possibility in the future, but wonder why its not namer quickly. Host wire china, india, pakistan and why are they way they are economically if they are on the cusp . What is coinoperated most countries that is right in the United States . Guest pakistan does not momentum severity different category. Host take brazil. Guest the things that constrains growth in the simple, which i do, we go to places like the world bank and if im invited to share my house with folks who work on policy issues that are under same thing the United States government. I can boil down my policy recommendations to one thing, one message from a policy standpoint from this book. Favor incumbents last, economic incumbents. Alpacas and had an era of dramatic growth in the 1960s pakistan was korea today. Or think about korea, date and samsung. People thought that was going to be huge success. They are a huge ally of ours. What happened in pakistan if you had a bunch of people rushing to take advantage of the newly created country. A lot of folks from the punjab came over, very tumultuous time. But it created a lot of economic opportunity. The problem was no act two. Those families got control of the apparatus appears to people talk about on stability pakistan. From an historical standpoint, there hasnt been enough instability. Not the political instability, turnover and president , but the actual economic structure has been dominated. Same thing in egypt. Mubarak left, the pakistani egypt are different stories. The military both countries controls upwards of 40 of the country directly and the rest is a small group of elites. So that is what is the lack of big trees falling in creating the new. That gets back to your gm question. You need to have capabilities to repurpose what is released with something dies. When something old false. But there has not been enough of that in a place like pakistan or in egypt. China and egypt is a totally different sorry. Host Philip Auerswald come what do teacher at george mason . Guest i teach economics and social lunch premiership. I would just use regular entrepreneurship. Im a believer in lunch premiership is a transformative force in society. Social entrepreneurship of coors is about thinking how to address public challenges in miniature for new rail manner, potentially envision new ventures, new pathways to make the most of that. So a lot of folks in this book you may save our social lunch burners. Its a great teaching here. I love this environment. Ive got a colleague, brilliant man, great thinker on economics and a lot of other colleagues in different disciplines. Luis shelley deserves a shadow. She is a Global Leader in documenting, researching and working practically in human trafficking. President obama said the Global Initiative announced in a major direction on this topic. Very many people who work on this topic to help with the forward an agenda. But luis is one of them and she really deserves a lot of credit. Host weve been talking with Philip Auerswald. The coming prosperity how entrepreneurs are transforming the global economy, his most recent work. Booktv on location at george mason university. Host it was almost two years ago i decided it was time to run a fact based primer on gay writes, hence the title of the book. Number one, challenge the religious right on this zone turf and to show much of what they derisively