So that is pretty evenly split, actually. Theres certainly quite a lot of recognition that Central Banks need to think about new toolkits. We are going to go to some questions now, but if you want. O use the platform to submit i think larry gave an excellent description of what the core problem is that the developed world faces, that there is a glut of saving and a , and it of investment really means that we have to have fiscal policy, structural policy, and things other than. Ust relying on Central Banks i think Central Banks need to do what can come about they can. Adopting a system called flexible average inflation targeting, i think this is an appropriate change. Somewhat improve the scope of Monetary Policy to show that shortterm Interest Rates are often constrained by the effect of lower bound. I think it is helpful in preventing a cycle of falling inflation feeding falling inflation expectations, but i strongly believe Central Banks need to be independent and need to do everythi
Im just going to read a few sentences i cobbled together from your book. As i lead into my first question. You might in the book innovation is the most important fact of the modern world but one of the least well understood. It is the reason most people today live lives of prosperity and wisdom area and the main ingredient in the secret sauce and indeed innovation is freedom and freedom to exchange, experiments, imagine, investment fail. Liberals have argued since the 18th century that freedom needs prosperity but i would argue that they have never persuasively found a mechanism that drives change in which one causes the other. Innovation is that drives change, that missing link. Innovation is the child of freedom and apparent prosperity. Matt, do you think youve written a contrary and book your in 2020 because there seems to be a growing belief we havent innovated since the apollo space program. Living standards have been stagnant for decades and growth only help the elites, growth ki
Around these companies, whether that means private ownership or state involvement. Dagen much more of marias interview throughout the show. Rallying again, President Trump officially restarts his 2020 campaign with the rally in tulsa, oklahoma over the weekend, what he said about his opponent and the controversy over crowd size ahead. Speaking of rally futures back on the rise this morning, 216 point gain after fridays disappointing downturn led by apples decision to close stores over fear of coronavirus, but look at the markets go last week, gains across the board. The nasdaq is up 45 from the bear market low. Dining in sunshine, new york city allowing restaurants to reopen with customers taking a seat outside, restaurant ur lady gagas father. Mornings with maria is live right now. Dagen european stocks, good morning, european stocks largely flat after losses, slight gain in ftse 100 in england. Wire cart shares plummeting overnight. Resurgence of coronavirus around the world. World H
Meet joe, the king of the workers of the world. Hi, folks. Joes the king because he can buy more with hiwages than any other worker on the globe. Now, what makes it possible for joe to earn such a good living . Hes no smarter than workers in other countries. Are you kidding . Hes no stronger than workers in others lands. Oh, yeah . Well, just watch me. Just because joes an american doesnt mean yeah . Well being an american is the best thing in the ow, my back. Sure, being an american is great. But how could you be superior to any foreigner when you or your folks might be any one of a dozen different races or religions . So if youre no superman, it must be the american way of doing things that makes you the luckiest guy in the world. I dont think im so lucky. You dont . Well, let me show you. Hey, whats that gadget . Television . No, its a time machine. Just pull that lever. Youll see how people worked 100 years ago. Hey. This i like. Thats too far back. Try again. We want to stop at 18
Industry. Now, we are finally responding to years of chronic trade abuses by defending our workers with tariffs, and anything else that is necessary. Because nobody is going to steal our businesses, nobody will close our factories, and nobody will close our plants anymore. They are all coming back. [applause] host peter liebhold, President Trump has popularized the debate over tariffs in our country once again. But how long throughout our history have tariffs been a subject of political debate . Peter tariffs have been the topic of discussion from the beginning. Tariffs make great rhetoric. Really power people up. One could argue that the United States was founded on a tariff battle. Not american tariffs, but opposition to english tariffs. Susan were going to spend some time we started asking questions about the tariff debate and we thought we would bring the audience along to learn more about the role of tariffs and American History. Appreciate you doing this. Before we get into the m