i think beto is a national leader and he ll run for senate and . steve: well, we ll see. that s it. were out of time. happy birthday to me. happy birthday! steve: the next revolution will be televised next week. mark: hello america, i mark women and this is life, liberty and levin . tonight is a important program. socialism versus capitalism. tierney versus liberty. robert lawson and professor edmund powell, professor of economics texas tech. hello, how are you. good to see you. good to be here. mark: i read your book socialism sucks . two economists going through the
pharmacist more than can be delivered. you can t squeeze blood out of a rock or more out of the economy to pay the debt that our economy is racking up. one way we can t default is to print money. make one of the greatest risks of the national debt. the politicians won t have - they won t be brave enough to tell her social security recipients will not get that $400 check is without the money but they will print $100 and at the scale we are talking about that is inevitably inflation. i think the default might be a different type of default. inflationary default which is still a default because the value of the money you will get his recipient won t be what you are promised. mark: what does that do to everybody in the country? hyperinflation of that magnitude tax economy. it destroys your price system. it s your ability to calculate profits and losses and this is
one. we will run out of resources. we don t have enough resources so then what? then you ration and someone has to decide and if there s no prices due to rationing then it will be a government agency and medicare for all agency and those guys will be the one to decide mark, you are sick and we don t have enough doctors, nurses and medicine to go around to give everyone free medicine so we will have to decide whether you re a lucky ones that gets it and that rationing is required in the system and you make that rationing so much worse when you don t charge prices because who s to say if your illness is worse or more deserving of care then bends illness but it will become a bureaucrat that makes those decisions. that s how it s done in england and canada. mark: this is life and death. this is not a joke. what office do you call that can deliver what you need? we talk about insurance companies but what you re basically - who do you call and there s no relief?
whether technology or medicines and so forth in any society that promotes uniformity. that kills the human creativity ultimately humans are the ultimate resources. our creativity that that productivity leads to liberty to flourish and you can see it side-by-side. we talk about sameness and the bland cuban food when bernie says why do you need 17 types of deodorant people say i don t know but try eating the same meal over and over in the same beer. that s constrain human creativity. those same cubans 90 miles lately delicious food in miami. a cuban image in miami is great but acumen say much in cuba is ham and cheese that s old and cruddy. when the cubans are given their liberty they do wonderful things with it. instead it stifled their island. mark: i want to go through a few policy issues with you. a lot of talk about the green new deal. i can remember and i m old enough to remember the attack on free-market capitalism was that
is also wrong about that but i think bernie is a shyster, frankly. i think he s lying to us but he went to the soviet union in the 70s and liked it. for him now to say i don t mean socialism like the soviet union but i mean denmark is a massive bait and switch on his part. we should not let them get away with it. mark: up it appears elizabeth warren is running to his left. i ll be right back. if your glasses aren t perfect, we ll fix them. so will we.no we won t! [ laughing ] don t get just one pair of perfect glasses. buy any pair at regular price, get one free. really. visionworks. see the difference.