Afternoon everyone. Good afternoon. My name is michael barone, im a resident fellow at the American Enterprise institute and its my pleasure today to welcome to aei professor Cass Sunstein. Hes the University Professor at harvard law school. He formerly was professor of law and Political Science at the university of chicago for many years. He was the administrator of the office of information and Regulatory Affairs commonly known as oi from 2009 two 2012 in the obama administration. He has written more than a dozen books and im happy to say that he has a number of times at aei and we consider him a good friend of aei. And easier today to talk about his latest book which is called republic. I think that a reader would not have pronounced the word that way 20 years ago but its an important and interesting book so please welcome Cass Sunstein to aei. [applause] is a drill to be back here. You all do amazing work and ive learned so much from whats produced here, legal and regulatory matter
A troubling statistic i discussed in the book is 40 of the sons born to fathers in the lowest quintile of income remain in lowest quintile of income and so demography is often destiny. If you are born to a father who was very polar, theres a very good chance, not overwhelming chance, but a very good chance youre going to be poor as well. To the discussion that poverty relates to blacks and i discuss why that is the case then why much of this discussion can be very misleading. The poverty rate is slightly lower than that of native americans and alaska natives. But more important point is more than 75 of blacks are not poor so the kinds of generalizations and images with warm are unfortunately quite inaccurate, though it is the case that many, too many blacks are born into poverty and will remain in poverty. The most important conclusion that i think analysts of poverty have come through in trying to determine what the trend is is that today, the class gap is even greater than the racial
There is a steely look from mason. Chris he has 6 rebounds. Hes been in with the trees all night to do anything. Assist, rebound or beautiful moves. Len i will repeat this one more time. He is a bad little man. Ian he has the altar boy look. But the killer mentality. Len dont let you fool you. He wont fool anybody else with that sweet baby face smile anymore. Ian we showed you the pregame speech from james jones. The extended version on the ors cut was building up. He reminded his team of what they worked for and what they visualized and believeing in this moment. Not being afraid of it. Living in the moment and the reality of being in the ncaa tournament. Back to when they started playing basketball and watched the ncaa tournament on tv and you wished you were in there. He never did. Ian thats right jones did not ever play in an ncaa tournament. He said i never got the opportunity. Chris he said we dont deserve it just for showing up. There is no pit party for not being here for 50 ye
Will come to countdown. Which just gone 6 00 a. M. In gone 6 00its just a. M. In london. Ready to deliver the stories that will drive your day. Ryan chilcote is live that the st. Petersburg foreign. Mia saini is in hong kong with details of the ipo. Jonathan ferro is in the studio to walk us through the latest fed minutes and elliott theine is in tel aviv as purchase of an israeli food company is going to be announced. This hour, a bloomberg first interview with the Russian Deputy economy minister. That is at 6 30 a. M. London time. Will be here to discuss those earnings. And on the move, hearing from the National Bank of abu dhabi. Its the biggest gathering of Business Leaders and this year the most controversial. Ryan chilcote joins us from st. Petersburg International Economic forum. Youve been covering this summit for 20 years, pressure for two decades in the big top line on this is who has decided not to attend. Is that a fair way to deliver . I think so. Whos not here and why. Ev
you cano that by calling 888-202-277 and coming a memberight now. why is pbs proud to have th newour in i stable of because i think it has helped redefine wha news coverage can and shod be. i think tha it does that, t way tt same street chaed the way we think about children s ogramming, not just to entertain, but also to educatand inire, and i think the newshour does that so extraordarily well. it s bee able to do that because of member support, pele in communities around this country that care deep enough to dig into their pockets and make a ntribution. it s particularly impornt for this community, because this is the newshour home. soe all need to rally behind our hometown team. there s an imptant way you can do that,nd that s by going to the phonend calling wa and king a contribution to bece member of this station and suppt this greatwork. it s tremendouslyimportant. and as wve said,any times in the past, it sot the aunt that you give, it s that y ve at all.