focus on how to do it better. what we need is more spending on some things, where it would really be worthwhile, and less spending on others, and we need some taxes to be fixed to function better. and that may mean more taxes for some people, and lower taxes for others. i think the details really matter. all right, a final question professor diamond. how are you going to celebrate or have you already celebrated the news of the nobel prize? well, there was a lovely celebration at the department yesterday, with all our graduate students and my faculty colleagues, and saturday is my anniversary and my wife and i will go to one of our favorite restaurants and have a celebration. perhaps a special bottle of wine. thank you very much, professor diamond. thank you for having me. and we will be back. even he, the guy who wants to get out, can t commit to getting out and has to commit to surging first. the fact that obama couldn t
captions by vitac www.vitac.com in these fractious times the only thing americans seem to be able to agree on is that unemployment is the most important issue in the land and with the official unemployment rate at 9.6%, that s understandable. americans want answers and people want jobs, and my guest today, peter diamond, won the nobel prize in the economics this week because he has some of those answers. his work is on unemployment. why it happens, and how to fix it. ironically just a few months before he won the prize, he was blocked by republicans in the senate from an appointment to the federal reserve board because as one senator put t diamond would be learning on the job. here to talk about our job problem and his is mit professor and nobel laureate in economics peter diamond. welcome. thank you. thank you for having me. you are up for a position on