behind the bottom up you know moral entrepreneurship is not so sure and since this is more along to commercial keeping those fundamentals henry s book is about a relationship that is a fundamental thing technology should enable and strengthen that and we should use that to address those deficiencies the outcomes that we don t kind of find at the same time academics and i couldn t make institutions we need to be working on the paradigm we re all operating within a big paradigm of the economy we call it capitalism let s say but whatever is in that we ve got to kind of and if you are entrepreneurs and business leaders here are my plea to you would be even as you build this data even as you move into the cyber capital world and deepen your cyber capital at least deepen your moral capital and i assure you that academics are starting to work very late
at the heart of the democratic party. speed martha: i looked at a graph today and most of the candidates fell between bernie sanders and elizabeth warren. what you think? if i was a democrat i would be terrified by that. first of all, she lost to a capitalist, probably the biggest ever to be elected president, so being a capitalist is not incompatible with being elected president of the united states. maybe she would be president right now. and capitalism is still in this country of majoritarian value. it is not hard to defend it. she cannot defend it, you do not call it capitalism, you call it free enterprise, and second of all it is very simple to defend. in the last 40 years there have been an 80% reduction in the worst poverty in the world which coincided with the climb of socialism and the rise of democratic capitalism. capitalism is free enterprise the system that has reduced poverty and human history, of
year. the president is going to lay it on thick. steve: stuart, put it into perspective. have you four quarters of 3% growth that sowpsdz pretty good to people future in perspective compared to the obama years. you had 8 years of 2% growth under the in the obama years. now you have started out the first year in the trump years with 3% growth and as i said, i think you re going to get closer to 4% by the end of this calendar year 2018. and that is spectacular. when you think of all the new jobs coming on stream. when you think of all the extra money going to the treasury out of taxes from a growing economy. when you think of prosperity. and prosperity is more than just numbers. prosperity is a feeling. a feeling of scope and positive thinking for the future. you are going somewhere. you are expanding. you are growing. you are part of it capitalism works. there is that feeling which we haven t had for 10 years. i think it s coming back. pete: absolutely. part of the speech will be
he s making the decision. maybe it s a suicide mission for his company but at least he s making it and then his company will have to either win or lose in the future. but at least the government is not involved. i would not call it capitalism. i d call it givng it away. you are both right. the government isn t dictating this. i am for that. as long as the government doesn t get involved in wage control this is precisely the opposite thing you would do to get the help like use unemployment. and imagine the guy who makes let s say a guy makes 10 bucks an hour and goes to 15 but the guy making 15 says i have more years in experience and education than the guy i can maing making 15. i want 20. the interesting thing about this, it shows that consumerism
because you had high unemployment and the wages rise. so i don t think the pattern is so unique here. the second is as inequality driving the slow growth the we know we have much higher inequality than europe and japan and much higher growth over the past decades. it s difficult to make the case that inequality slows growth, more hours of work for a working wager, i think that stems from the difference between joe and i about what is causing the inequality. is it the success of the top 1% and the innovation in the u.s. economy or is it capitalism? but the last also is voe takes a va additional view of investment which is we re simply building capital to meet the demands of consumers as opposed to what we re doing in our economy which is pouring money into innovation. you don t need demand to fund innovation. if you really part through the numbers and recalculate investment to include innovation, which is largely salaried and appears as the