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you
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the<00:00:14.160> first<00:00:14.370> of<00:00:14.519> tonight<00:00:14.730> speakers<00:00:15.179> eric<00:00:15.539> liu
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the first of tonight speakers eric liu
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the first of tonight speakers eric liu
is<00:00:15.750> a<00:00:15.929> seattle-based<00:00:16.199> author<00:00:16.800> and<00:00:17.130> educator<00:00:17.220> a
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is a seattle-based author and educator a
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is a seattle-based author and educator a
crack<00:00:18.150> interviewer<00:00:18.660> and<00:00:18.869> a<00:00:18.960> civic<00:00:19.230> catalyst
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crack interviewer and a civic catalyst
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crack interviewer and a civic catalyst
who<00:00:19.890> has<00:00:20.039> served<00:00:20.279> as<00:00:20.550> a<00:00:20.580> White<00:00:20.789> House
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who has served as a White House
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who has served as a White House
speechwriter<00:00:21.450> for<00:00:21.539> President<00:00:21.689> Bill<00:00:22.169> Clinton
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speechwriter for President Bill Clinton
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speechwriter for President Bill Clinton
and<00:00:22.650> an<00:00:23.039> executive<00:00:23.550> at<00:00:23.640> realnetworks<00:00:24.210> in<00:00:24.509> the
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and an executive at realnetworks in the
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and an executive at realnetworks in the
present<00:00:25.320> tense<00:00:25.380> he<00:00:25.740> lectures<00:00:26.130> at<00:00:26.279> the
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present tense he lectures at the
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present tense he lectures at the
University<00:00:26.730> of<00:00:26.820> Washington<00:00:27.300> hosts<00:00:27.990> the
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University of Washington hosts the
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University of Washington hosts the
television<00:00:28.529> interview<00:00:28.890> program<00:00:29.070> Seattle
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television interview program Seattle
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television interview program Seattle
voices<00:00:30.119> and<00:00:30.360> is<00:00:30.809> served<00:00:31.050> on<00:00:31.259> the<00:00:31.349> boards<00:00:31.619> of
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voices and is served on the boards of
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voices and is served on the boards of
the<00:00:31.860> seattle<00:00:32.160> public<00:00:32.279> library<00:00:32.520> the<00:00:33.239> League<00:00:33.420> of
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the seattle public library the League of
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the seattle public library the League of
Education<00:00:34.050> voters<00:00:34.410> and<00:00:34.590> the<00:00:34.649> Swedish<00:00:35.280> Medical
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Education voters and the Swedish Medical
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Education voters and the Swedish Medical
Center<00:00:35.940> Foundation<00:00:36.149> oh<00:00:36.719> and<00:00:37.620> a<00:00:37.860> little<00:00:38.250> place
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Center Foundation oh and a little place
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Center Foundation oh and a little place
called<00:00:38.430> town<00:00:39.090> hall<00:00:39.329> seattle<00:00:39.710> never<00:00:40.710> heard<00:00:40.890> of
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called town hall seattle never heard of
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called town hall seattle never heard of
it<00:00:41.010> Lou<00:00:41.640> is<00:00:41.790> the<00:00:41.910> author<00:00:42.090> of<00:00:42.329> 1998's<00:00:43.110> the
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it Lou is the author of 1998's the
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it Lou is the author of 1998's the
accidental<00:00:43.770> asian<00:00:44.160> a<00:00:44.280> new<00:00:44.370> york<00:00:44.550> times
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accidental asian a new york times
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accidental asian a new york times
notable<00:00:45.090> book<00:00:45.329> featured<00:00:45.720> in<00:00:45.840> the<00:00:45.900> PBS
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notable book featured in the PBS
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notable book featured in the PBS
documentary<00:00:47.010> matters<00:00:47.760> of<00:00:47.970> race<00:00:48.120> and<00:00:48.420> of<00:00:48.690> 2004
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documentary matters of race and of 2004
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documentary matters of race and of 2004
guiding<00:00:49.980> lights<00:00:50.220> this<00:00:50.940> book<00:00:51.180> is<00:00:51.329> the
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guiding lights this book is the
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guiding lights this book is the
touchstone<00:00:51.660> for<00:00:51.900> his<00:00:52.230> most<00:00:52.410> recent<00:00:52.500> project
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touchstone for his most recent project
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touchstone for his most recent project
an<00:00:53.430> ongoing<00:00:53.550> project<00:00:53.940> i<00:00:54.210> should<00:00:54.390> say<00:00:54.600> the
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an ongoing project i should say the
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an ongoing project i should say the
guiding<00:00:55.350> lights<00:00:55.530> network<00:00:55.920> meanwhile<00:00:56.520> his
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guiding lights network meanwhile his
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guiding lights network meanwhile his
partner<00:00:57.210> in<00:00:57.360> civic<00:00:58.020> imagination<00:00:58.620> is<00:00:58.770> nick
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partner in civic imagination is nick
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partner in civic imagination is nick
hanauer<00:00:59.310> a<00:00:59.640> seattle-based<00:01:00.300> entrepreneur<00:01:01.050> and
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hanauer a seattle-based entrepreneur and
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hanauer a seattle-based entrepreneur and
venture<00:01:01.320> capitalist<00:01:02.190> whose<00:01:02.670> projects<00:01:03.149> have
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venture capitalist whose projects have
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venture capitalist whose projects have
included<00:01:03.300> founding<00:01:04.140> and<00:01:04.320> eventually<00:01:04.680> selling
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included founding and eventually selling
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included founding and eventually selling
a<00:01:05.309> quanta<00:01:06.090> incorporated<00:01:06.869> early<00:01:07.619> investment
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a quanta incorporated early investment
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a quanta incorporated early investment
in<00:01:08.189> board<00:01:08.399> advisement<00:01:09.390> to<00:01:09.630> amazon.com<00:01:10.200> and
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in board advisement to amazon.com and
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in board advisement to amazon.com and
founding<00:01:11.430> gear<00:01:11.670> calm<00:01:12.090> and<00:01:12.390> key<00:01:13.020> management
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founding gear calm and key management
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founding gear calm and key management
roles<00:01:13.680> and<00:01:13.890> investments<00:01:14.399> in<00:01:14.549> a<00:01:14.670> number<00:01:14.969> of
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roles and investments in a number of
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roles and investments in a number of
other<00:01:15.240> companies<00:01:15.450> he<00:01:16.409> co-founded<00:01:16.619> the<00:01:17.040> League
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other companies he co-founded the League
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other companies he co-founded the League
of<00:01:17.220> Education<00:01:17.820> voters<00:01:18.210> and<00:01:18.450> has<00:01:18.570> served<00:01:18.840> on
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of Education voters and has served on
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of Education voters and has served on
the<00:01:19.200> boards<00:01:19.530> of<00:01:19.650> the<00:01:19.770> Cascade<00:01:20.159> Land
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the boards of the Cascade Land
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the boards of the Cascade Land
Conservancy<00:01:20.690> the<00:01:21.690> University<00:01:22.110> of<00:01:22.170> Arizona's
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Conservancy the University of Arizona's
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Conservancy the University of Arizona's
Mount<00:01:23.010> Lemmon<00:01:23.220> science<00:01:23.700> center<00:01:24.030> and<00:01:24.210> the
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Mount Lemmon science center and the
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Mount Lemmon science center and the
biosphere<00:01:24.690> two<00:01:25.140> climate<00:01:25.740> research<00:01:26.040> project
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biosphere two climate research project
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biosphere two climate research project
together<00:01:27.810> Lou<00:01:28.710> and<00:01:28.890> Hannah<00:01:29.100> or<00:01:29.340> co-authored
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together Lou and Hannah or co-authored
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together Lou and Hannah or co-authored
the<00:01:29.909> 2008<00:01:30.540> book<00:01:30.720> the<00:01:30.900> true<00:01:31.049> patriot<00:01:31.560> from
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the 2008 book the true patriot from
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the 2008 book the true patriot from
which<00:01:32.250> they<00:01:32.460> built<00:01:32.640> the<00:01:32.820> true<00:01:33.000> patriot
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which they built the true patriot
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which they built the true patriot
network<00:01:33.810> to<00:01:34.080> advance<00:01:34.380> the<00:01:34.590> books<00:01:34.799> ideals<00:01:35.430> of
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network to advance the books ideals of
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network to advance the books ideals of
progressive<00:01:36.119> patriotism<00:01:36.630> their<00:01:37.530> new
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progressive patriotism their new
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progressive patriotism their new
collaboration<00:01:38.340> is<00:01:38.490> the<00:01:38.520> gardens<00:01:38.970> of
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collaboration is the gardens of
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collaboration is the gardens of
democracy<00:01:39.690> a<00:01:39.869> new<00:01:40.260> American<00:01:40.710> story<00:01:40.979> of
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democracy a new American story of
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democracy a new American story of
citizenship<00:01:41.700> the<00:01:42.119> economy<00:01:42.630> and<00:01:42.810> the<00:01:42.960> role<00:01:43.110> of
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citizenship the economy and the role of
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citizenship the economy and the role of
government<00:01:43.500> and<00:01:43.920> it's<00:01:44.130> the<00:01:44.250> subject<00:01:44.610> of
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government and it's the subject of
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government and it's the subject of
tonight's<00:01:44.850> talk<00:01:45.240> please<00:01:45.869> join<00:01:46.080> me<00:01:46.200> in
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tonight's talk please join me in
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tonight's talk please join me in
welcoming<00:01:46.320> back<00:01:46.860> Nick<00:01:47.310> Hanauer<00:01:47.760> and<00:01:48.119> eric<00:01:48.360> liu
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this<00:02:02.670> is<00:02:02.820> a<00:02:02.850> lean<00:02:03.180> forward<00:02:03.600> environment<00:02:04.050> we
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this is a lean forward environment we
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this is a lean forward environment we
have<00:02:04.290> leaned<00:02:04.530> back<00:02:04.560> chairs<00:02:06.260> where<00:02:07.260> thank<00:02:07.650> you
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have leaned back chairs where thank you
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have leaned back chairs where thank you
so<00:02:08.040> much<00:02:08.250> for<00:02:08.580> that<00:02:09.110> introduction<00:02:10.110> I<00:02:10.530> just
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so much for that introduction I just
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so much for that introduction I just
wanted<00:02:11.340> before<00:02:11.430> we<00:02:11.640> get<00:02:11.730> into<00:02:12.000> the<00:02:12.120> the<00:02:12.690> heart
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wanted before we get into the the heart
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wanted before we get into the the heart
of<00:02:13.020> things<00:02:13.200> really<00:02:13.550> underscore<00:02:14.550> something
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of things really underscore something
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of things really underscore something
which<00:02:15.900> is<00:02:16.140> what<00:02:16.440> an<00:02:16.590> incredible<00:02:17.010> gift<00:02:17.220> Town
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which is what an incredible gift Town
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which is what an incredible gift Town
Hall<00:02:17.850> is<00:02:18.090> to<00:02:18.450> our<00:02:18.810> region<00:02:19.080> and<00:02:19.350> community<00:02:19.770> and
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Hall is to our region and community and
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Hall is to our region and community and
I<00:02:20.490> want<00:02:21.300> to<00:02:21.330> kind<00:02:21.510> of<00:02:21.570> underscore<00:02:22.080> his<00:02:22.320> his
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I want to kind of underscore his his
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I want to kind of underscore his his
pitch<00:02:23.520> there<00:02:23.850> your<00:02:24.510> presence<00:02:24.870> here<00:02:25.050> means<00:02:25.650> I'm
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pitch there your presence here means I'm
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pitch there your presence here means I'm
preaching<00:02:26.190> to<00:02:26.280> the<00:02:26.340> converted<00:02:26.430> already<00:02:26.940> but
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preaching to the converted already but
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preaching to the converted already but
we<00:02:28.440> we<00:02:29.160> believe<00:02:29.520> that<00:02:29.850> one<00:02:30.810> of<00:02:30.840> the<00:02:30.930> things
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we we believe that one of the things
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we we believe that one of the things
that<00:02:31.110> makes<00:02:31.350> this<00:02:31.440> community<00:02:31.950> what<00:02:32.160> it<00:02:32.370> is<00:02:32.700> is
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that makes this community what it is is
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that makes this community what it is is
this<00:02:33.300> place<00:02:33.600> and<00:02:33.990> that<00:02:34.050> we're<00:02:34.320> grateful<00:02:34.530> to<00:02:34.680> be
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this place and that we're grateful to be
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this place and that we're grateful to be
a<00:02:35.550> part<00:02:35.580> of<00:02:36.210> this<00:02:36.300> we<00:02:37.170> have<00:02:37.290> a<00:02:37.520> fun<00:02:38.520> evening<00:02:38.730> in
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a part of this we have a fun evening in
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a part of this we have a fun evening in
store<00:02:39.240> here<00:02:39.570> where<00:02:40.200> we<00:02:40.320> want<00:02:40.500> to<00:02:40.590> tell<00:02:40.710> you<00:02:40.830> a
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store here where we want to tell you a
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store here where we want to tell you a
bit<00:02:41.040> about<00:02:41.070> this<00:02:41.460> new<00:02:41.670> book<00:02:41.880> that<00:02:42.720> we've
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bit about this new book that we've
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bit about this new book that we've
created<00:02:43.190> and<00:02:44.190> some<00:02:44.400> of<00:02:44.460> the<00:02:44.520> ideas<00:02:44.640> that<00:02:45.050> that
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created and some of the ideas that that
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created and some of the ideas that that
we<00:02:46.170> framed<00:02:46.560> in<00:02:46.740> it<00:02:46.890> and<00:02:47.400> then<00:02:47.520> open<00:02:47.820> it<00:02:47.880> up<00:02:48.030> to<00:02:48.060> a
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we framed in it and then open it up to a
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we framed in it and then open it up to a
wider<00:02:48.450> conversation<00:02:49.290> I<00:02:50.060> am<00:02:51.080> as<00:02:52.080> we're
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wider conversation I am as we're
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wider conversation I am as we're
mentioned<00:02:53.130> Nick<00:02:53.550> and<00:02:53.700> I<00:02:53.760> wrote<00:02:54.180> a<00:02:54.210> book
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mentioned Nick and I wrote a book
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mentioned Nick and I wrote a book
together<00:02:54.600> a<00:02:54.840> few<00:02:54.990> years<00:02:55.050> ago<00:02:55.380> called<00:02:55.710> the<00:02:55.740> true
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together a few years ago called the true
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together a few years ago called the true
patriot<00:02:56.430> and<00:02:57.120> for<00:02:57.450> those<00:02:57.540> of<00:02:57.600> you<00:02:57.780> who<00:02:57.900> aren't
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patriot and for those of you who aren't
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patriot and for those of you who aren't
familiar<00:02:58.110> with<00:02:58.440> it<00:02:58.680> that<00:02:59.310> book<00:02:59.520> was<00:02:59.670> really<00:02:59.880> a
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familiar with it that book was really a
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familiar with it that book was really a
short<00:03:01.290> argument<00:03:01.920> in<00:03:02.010> pamphlet<00:03:02.459> style<00:03:02.760> that
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short argument in pamphlet style that
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short argument in pamphlet style that
progressives<00:03:04.110> needed<00:03:04.410> to<00:03:04.470> reclaim<00:03:04.950> and
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progressives needed to reclaim and
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progressives needed to reclaim and
refrain<00:03:05.550> patriotism<00:03:06.230> and<00:03:07.230> this<00:03:07.500> book<00:03:07.709> in<00:03:07.830> many
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refrain patriotism and this book in many
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refrain patriotism and this book in many
ways<00:03:08.130> builds<00:03:08.610> upon<00:03:08.750> the<00:03:09.750> foundation<00:03:09.900> laid<00:03:10.590> by
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ways builds upon the foundation laid by
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ways builds upon the foundation laid by
the<00:03:11.280> true<00:03:11.910> patriot<00:03:12.390> in<00:03:12.900> ways<00:03:13.050> that<00:03:13.080> we're
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the true patriot in ways that we're
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the true patriot in ways that we're
going<00:03:13.470> to<00:03:13.560> talk<00:03:13.800> about<00:03:13.950> in<00:03:14.160> just<00:03:14.190> a<00:03:14.430> moment
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going to talk about in just a moment
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going to talk about in just a moment
this<00:03:14.880> book<00:03:15.090> is<00:03:15.239> you<00:03:16.170> know<00:03:16.290> building<00:03:17.250> on<00:03:17.489> the
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this book is you know building on the
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this book is you know building on the
moral<00:03:18.260> values<00:03:19.260> foundation<00:03:19.770> of<00:03:19.830> the<00:03:19.890> true
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moral values foundation of the true
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moral values foundation of the true
patriot<00:03:20.489> talk<00:03:20.760> more<00:03:21.090> generally<00:03:21.300> about<00:03:21.900> how<00:03:22.380> we
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patriot talk more generally about how we
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patriot talk more generally about how we
govern<00:03:22.709> ourselves<00:03:22.890> and<00:03:23.489> what<00:03:23.610> it<00:03:23.700> means<00:03:23.910> in
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govern ourselves and what it means in
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govern ourselves and what it means in
fact<00:03:24.390> to<00:03:25.230> tend<00:03:25.500> the<00:03:25.680> gardens<00:03:26.040> of<00:03:26.790> our
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fact to tend the gardens of our
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fact to tend the gardens of our
democracy<00:03:27.650> one<00:03:28.650> of<00:03:28.770> the<00:03:28.830> things<00:03:29.010> that<00:03:29.100> we
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democracy one of the things that we
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democracy one of the things that we
would<00:03:29.489> say<00:03:29.700> about<00:03:29.910> this<00:03:30.270> book<00:03:30.510> gardens<00:03:31.170> that
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would say about this book gardens that
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would say about this book gardens that
we<00:03:32.310> said<00:03:32.550> a<00:03:32.580> little<00:03:32.820> bit<00:03:33.030> in<00:03:33.150> the<00:03:33.209> true<00:03:33.360> patriot
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we said a little bit in the true patriot
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we said a little bit in the true patriot
but<00:03:33.930> I<00:03:34.020> think<00:03:34.260> in<00:03:34.440> this<00:03:34.709> moment<00:03:34.980> right<00:03:35.280> now<00:03:35.340> is
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but I think in this moment right now is
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but I think in this moment right now is
we<00:03:35.820> gather<00:03:36.060> here<00:03:36.300> today<00:03:36.510> in<00:03:36.750> this
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we gather here today in this
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we gather here today in this
extraordinary<00:03:37.470> time<00:03:38.130> of<00:03:38.900> political
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extraordinary time of political
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extraordinary time of political
turbulence<00:03:40.110> at<00:03:40.590> home<00:03:40.769> and<00:03:40.950> abroad<00:03:41.120> is<00:03:42.120> that<00:03:42.470> in
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turbulence at home and abroad is that in
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turbulence at home and abroad is that in
some<00:03:43.650> ways<00:03:43.800> all<00:03:44.010> bets<00:03:44.190> are<00:03:44.310> off<00:03:44.570> all<00:03:45.570> ways<00:03:46.470> that
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some ways all bets are off all ways that
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some ways all bets are off all ways that
we've<00:03:46.860> inherited<00:03:47.220> of<00:03:47.610> thinking<00:03:48.269> about
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we've inherited of thinking about
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we've inherited of thinking about
politics<00:03:48.989> are<00:03:49.350> now<00:03:49.709> under<00:03:50.010> question<00:03:50.400> all<00:03:50.580> the
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politics are now under question all the
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politics are now under question all the
notions<00:03:51.780> of<00:03:51.870> what<00:03:51.930> government<00:03:52.500> is<00:03:52.530> for<00:03:52.860> what
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notions of what government is for what
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notions of what government is for what
an<00:03:53.250> economy<00:03:53.730> is<00:03:53.820> for<00:03:54.090> as<00:03:54.239> john<00:03:54.480> de<00:03:54.600> Graaff<00:03:54.750> will
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an economy is for as john de Graaff will
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an economy is for as john de Graaff will
be<00:03:55.019> talking<00:03:55.320> about<00:03:55.380> later<00:03:55.769> this<00:03:56.610> month<00:03:56.790> you
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be talking about later this month you
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be talking about later this month you
know<00:03:57.660> these<00:03:57.780> first<00:03:58.170> principles<00:03:58.680> questions
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know these first principles questions
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know these first principles questions
are<00:03:59.250> being<00:03:59.370> relitigate<00:03:59.820> 'add<00:04:00.120> and
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are being relitigate 'add and
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are being relitigate 'add and
re-examined<00:04:01.920> and<00:04:02.040> one<00:04:02.250> of<00:04:02.340> the<00:04:02.400> things<00:04:02.459> that
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re-examined and one of the things that
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re-examined and one of the things that
is<00:04:03.180> exciting<00:04:03.900> to<00:04:03.930> us<00:04:04.079> about<00:04:04.230> this<00:04:04.500> moment<00:04:04.709> is
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is exciting to us about this moment is
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is exciting to us about this moment is
while<00:04:05.970> that<00:04:06.209> can<00:04:06.329> be<00:04:06.420> destabilizing<00:04:07.200> and
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while that can be destabilizing and
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while that can be destabilizing and
dangerous<00:04:07.530> it's<00:04:08.130> also<00:04:08.310> a<00:04:08.459> time<00:04:08.549> for<00:04:08.760> in<00:04:09.209> that
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dangerous it's also a time for in that
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dangerous it's also a time for in that
for<00:04:10.959> civic<00:04:11.290> imagination<00:04:11.980> and<00:04:12.129> one<00:04:12.909> of<00:04:12.969> the
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for civic imagination and one of the
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for civic imagination and one of the
things<00:04:13.090> that<00:04:13.269> we<00:04:13.420> did<00:04:13.659> in<00:04:13.989> this<00:04:14.469> book<00:04:14.739> gardens
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things that we did in this book gardens
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things that we did in this book gardens
of<00:04:15.189> democracy<00:04:15.760> is<00:04:15.939> to<00:04:16.419> try<00:04:16.600> to<00:04:16.630> come<00:04:16.959> at<00:04:17.079> things
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of democracy is to try to come at things
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of democracy is to try to come at things
not<00:04:17.620> in<00:04:17.919> the<00:04:18.190> tired<00:04:18.459> old<00:04:18.729> frame<00:04:19.150> of<00:04:19.419> left<00:04:19.690> and
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not in the tired old frame of left and
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not in the tired old frame of left and
right<00:04:19.989> that<00:04:20.410> has<00:04:20.560> so<00:04:20.970> dominated<00:04:21.970> in<00:04:22.060> many<00:04:22.810> ways
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right that has so dominated in many ways
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right that has so dominated in many ways
polarized<00:04:23.620> our<00:04:23.800> politics<00:04:24.280> but<00:04:24.970> rather<00:04:25.180> to
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polarized our politics but rather to
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polarized our politics but rather to
think<00:04:25.690> orthogonal<00:04:26.380> II<00:04:26.470> and<00:04:26.680> to<00:04:27.250> think<00:04:27.370> about
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think orthogonal II and to think about
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think orthogonal II and to think about
the<00:04:28.090> problems<00:04:28.570> and<00:04:28.750> the<00:04:28.870> solutions<00:04:28.900> that<00:04:29.590> are
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the problems and the solutions that are
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the problems and the solutions that are
ahead<00:04:30.490> of<00:04:30.610> us<00:04:30.850> in<00:04:31.419> ways<00:04:31.600> that<00:04:31.660> sometimes<00:04:32.289> will
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ahead of us in ways that sometimes will
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ahead of us in ways that sometimes will
borrow<00:04:32.889> from<00:04:33.190> left<00:04:33.430> and<00:04:33.850> or<00:04:34.090> right<00:04:34.360> but<00:04:35.050> belong
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borrow from left and or right but belong
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borrow from left and or right but belong
necessarily<00:04:36.009> not<00:04:36.190> necessarily<00:04:36.250> to<00:04:36.729> either
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necessarily not necessarily to either
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necessarily not necessarily to either
side<00:04:37.810> and<00:04:38.199> that<00:04:38.289> notion<00:04:38.680> of<00:04:38.949> coming<00:04:39.280> at<00:04:39.370> things
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side and that notion of coming at things
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side and that notion of coming at things
orthogonal<00:04:40.479> II<00:04:40.750> is<00:04:40.870> one<00:04:41.080> of<00:04:41.199> the<00:04:41.289> kind<00:04:41.740> of
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orthogonal II is one of the kind of
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orthogonal II is one of the kind of
foundational<00:04:42.550> things<00:04:42.610> that<00:04:42.970> we<00:04:43.060> wanted<00:04:43.389> to
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foundational things that we wanted to
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foundational things that we wanted to
say<00:04:44.349> about<00:04:44.650> setting<00:04:45.130> the<00:04:45.160> tone<00:04:45.430> here<00:04:45.759> about
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say about setting the tone here about
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say about setting the tone here about
the<00:04:46.720> purposes<00:04:47.080> of<00:04:47.110> this<00:04:47.289> book<00:04:47.530> yeah<00:04:48.039> and<00:04:48.550> I
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the purposes of this book yeah and I
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the purposes of this book yeah and I
also<00:04:49.090> wanted<00:04:49.240> to<00:04:49.509> thank<00:04:49.630> town<00:04:50.440> hall<00:04:50.650> for
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also wanted to thank town hall for
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also wanted to thank town hall for
having<00:04:51.099> us<00:04:51.220> here<00:04:51.250> and<00:04:51.580> just<00:04:52.479> to<00:04:52.630> acknowledge
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having us here and just to acknowledge
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having us here and just to acknowledge
what<00:04:53.440> an<00:04:53.560> incredible<00:04:54.099> civic<00:04:54.780> civic<00:04:55.780> gift<00:04:56.020> it
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what an incredible civic civic gift it
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what an incredible civic civic gift it
is<00:04:56.229> to<00:04:56.349> the<00:04:56.680> city<00:04:56.889> and<00:04:57.099> you<00:04:57.639> know<00:04:57.729> no<00:04:58.360> words<00:04:58.570> it
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is to the city and you know no words it
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is to the city and you know no words it
excuse<00:05:00.370> me<00:05:00.520> not<00:05:00.699> everybody<00:05:01.060> not<00:05:01.389> everybody<00:05:01.419> in
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excuse me not everybody not everybody in
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excuse me not everybody not everybody in
every<00:05:02.110> place<00:05:02.320> gets<00:05:03.300> you<00:05:04.300> know<00:05:04.389> has<00:05:04.539> a<00:05:04.570> forum
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every place gets you know has a forum
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every place gets you know has a forum
like<00:05:04.960> this<00:05:05.110> in<00:05:05.680> which<00:05:05.919> citizens<00:05:06.669> get<00:05:07.060> together
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like this in which citizens get together
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like this in which citizens get together
yeah<00:05:09.370> i<00:05:09.400> just<00:05:09.490> wanted<00:05:09.940> to<00:05:09.970> underscore<00:05:12.330> one<00:05:13.330> of
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yeah i just wanted to underscore one of
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yeah i just wanted to underscore one of
the<00:05:13.479> things<00:05:13.659> that<00:05:13.750> eric<00:05:14.080> said<00:05:14.349> which<00:05:14.620> is<00:05:14.650> that
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the things that eric said which is that
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the things that eric said which is that
our<00:05:16.060> political<00:05:16.479> culture<00:05:17.099> poses<00:05:18.099> the<00:05:18.760> great
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our political culture poses the great
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our political culture poses the great
questions<00:05:20.099> that<00:05:21.099> face<00:05:21.520> the<00:05:21.760> nation<00:05:21.909> as<00:05:22.270> these
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questions that face the nation as these
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questions that face the nation as these
sort<00:05:22.720> of<00:05:22.810> ridiculous<00:05:23.610> polarizing<00:05:24.610> false
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sort of ridiculous polarizing false
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sort of ridiculous polarizing false
choices<00:05:25.680> between<00:05:26.849> suffocating<00:05:27.849> collectivism
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choices between suffocating collectivism
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choices between suffocating collectivism
or<00:05:28.930> free-market<00:05:29.800> fundamentalism<00:05:31.320> you<00:05:32.320> know
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or free-market fundamentalism you know
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or free-market fundamentalism you know
and<00:05:33.010> and<00:05:33.280> i<00:05:33.699> think<00:05:34.570> that<00:05:35.020> you<00:05:35.289> know<00:05:35.919> for<00:05:36.340> many
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and and i think that you know for many
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and and i think that you know for many
many<00:05:36.760> citizens<00:05:37.180> politics<00:05:38.110> seems<00:05:38.830> like<00:05:39.130> this
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many citizens politics seems like this
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many citizens politics seems like this
tug-of-war<00:05:39.729> between<00:05:40.300> the<00:05:40.659> far<00:05:40.840> left<00:05:41.050> and<00:05:41.229> the
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tug-of-war between the far left and the
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tug-of-war between the far left and the
far<00:05:41.470> right<00:05:41.710> and<00:05:41.919> you<00:05:42.909> know<00:05:42.940> our<00:05:43.270> view<00:05:43.659> is<00:05:43.690> that
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far right and you know our view is that
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far right and you know our view is that
that<00:05:44.530> we<00:05:44.919> need<00:05:45.340> to<00:05:45.460> somehow<00:05:45.639> find<00:05:46.030> a<00:05:46.180> way<00:05:46.210> to
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that we need to somehow find a way to
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that we need to somehow find a way to
pull<00:05:47.380> sideways<00:05:47.919> and<00:05:48.849> that<00:05:49.090> the<00:05:49.180> best
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pull sideways and that the best
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pull sideways and that the best
solutions<00:05:49.840> will<00:05:50.020> be<00:05:50.110> found<00:05:50.349> in<00:05:50.740> a<00:05:50.979> dimension
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solutions will be found in a dimension
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solutions will be found in a dimension
other<00:05:51.639> than<00:05:51.909> the<00:05:52.150> left<00:05:52.539> right<00:05:52.659> continuum<00:05:53.320> that
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other than the left right continuum that
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other than the left right continuum that
we've<00:05:54.159> been<00:05:54.810> struggling<00:05:55.810> with<00:05:56.020> for<00:05:56.139> so<00:05:56.440> long<00:05:56.650> i
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we've been struggling with for so long i
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we've been struggling with for so long i
think<00:05:57.639> there's<00:05:58.240> a<00:05:58.300> very<00:05:58.479> shorthanded<00:05:59.110> way<00:05:59.560> to
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think there's a very shorthanded way to
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think there's a very shorthanded way to
understand<00:06:00.220> what<00:06:00.639> we<00:06:00.759> attempted<00:06:01.210> to<00:06:01.300> do<00:06:01.419> in
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understand what we attempted to do in
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understand what we attempted to do in
this<00:06:01.690> book<00:06:01.930> and<00:06:02.800> it<00:06:02.949> relates<00:06:03.220> to<00:06:03.639> the<00:06:03.729> first
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this book and it relates to the first
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this book and it relates to the first
one<00:06:04.199> which<00:06:05.199> is<00:06:05.349> excuse<00:06:06.159> me<00:06:06.280> and<00:06:06.460> for<00:06:06.639> in<00:06:06.759> the
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one which is excuse me and for in the
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one which is excuse me and for in the
true<00:06:07.030> patriot<00:06:07.479> we<00:06:07.630> argued<00:06:07.990> that<00:06:08.340> largely<00:06:09.340> that
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true patriot we argued that largely that
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true patriot we argued that largely that
it<00:06:09.789> was<00:06:09.940> immoral<00:06:10.680> to<00:06:11.680> be<00:06:11.830> selfish<00:06:12.220> as<00:06:12.940> a
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it was immoral to be selfish as a
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it was immoral to be selfish as a
citizen<00:06:13.389> and<00:06:13.810> that<00:06:14.050> true<00:06:14.800> patriotism
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citizen and that true patriotism
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citizen and that true patriotism
actually<00:06:16.000> meant<00:06:16.210> putting<00:06:16.419> others<00:06:17.110> in<00:06:17.139> the
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actually meant putting others in the
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actually meant putting others in the
country
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country
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country
before<00:06:19.510> self<00:06:19.780> in<00:06:20.020> this<00:06:20.530> argument<00:06:20.940> so<00:06:21.940> so<00:06:22.330> there
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before self in this argument so so there
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before self in this argument so so there
we<00:06:22.690> argue<00:06:22.990> that<00:06:23.020> selfishness<00:06:23.950> was<00:06:24.370> morally
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we argue that selfishness was morally
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we argue that selfishness was morally
wrong<00:06:25.570> in<00:06:26.410> this<00:06:26.650> in<00:06:26.860> this<00:06:27.070> book<00:06:27.310> we<00:06:27.340> argued
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wrong in this in this book we argued
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wrong in this in this book we argued
further<00:06:28.300> that<00:06:28.570> it's<00:06:28.750> stupid<00:06:29.260> that<00:06:30.040> is<00:06:30.160> to<00:06:30.310> say
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further that it's stupid that is to say
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further that it's stupid that is to say
that<00:06:30.790> is<00:06:31.720> to<00:06:31.900> say<00:06:32.080> that<00:06:32.700> being<00:06:35.010> being<00:06:36.270> selfish
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that is to say that being being selfish
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that is to say that being being selfish
and<00:06:37.620> short-sighted<00:06:39.450> isn't<00:06:40.450> just<00:06:40.750> a<00:06:41.020> moral<00:06:41.950> or
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and short-sighted isn't just a moral or
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and short-sighted isn't just a moral or
immoral<00:06:42.220> it<00:06:42.670> actually<00:06:43.170> works<00:06:44.170> counter<00:06:44.740> to
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immoral it actually works counter to
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immoral it actually works counter to
your<00:06:45.550> actual<00:06:46.150> self-interest<00:06:47.020> and<00:06:47.170> and<00:06:48.100> that
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your actual self-interest and and that
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your actual self-interest and and that
fundamentally<00:06:50.200> when<00:06:50.350> you<00:06:50.440> understand<00:06:50.950> the
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fundamentally when you understand the
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fundamentally when you understand the
world<00:06:51.700> in<00:06:51.910> a<00:06:51.970> more<00:06:52.120> sophisticated<00:06:52.150> way<00:06:52.870> than
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world in a more sophisticated way than
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world in a more sophisticated way than
we<00:06:53.290> have<00:06:53.440> in<00:06:53.650> the<00:06:53.740> past<00:06:53.920> that<00:06:55.020> you<00:06:56.020> know<00:06:56.110> these
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we have in the past that you know these
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we have in the past that you know these
new<00:06:56.530> models<00:06:56.740> and<00:06:57.070> metaphors<00:06:57.430> make<00:06:57.760> that<00:06:57.970> much
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new models and metaphors make that much
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new models and metaphors make that much
clearer<00:06:59.290> so<00:06:59.710> so<00:07:00.190> just<00:07:01.000> to<00:07:01.060> give<00:07:01.090> you<00:07:01.240> a<00:07:01.300> quick
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clearer so so just to give you a quick
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clearer so so just to give you a quick
roadmap<00:07:01.870> of<00:07:01.900> what<00:07:02.320> we're<00:07:02.590> going<00:07:02.740> to<00:07:02.890> lay<00:07:02.980> out
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roadmap of what we're going to lay out
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roadmap of what we're going to lay out
here<00:07:03.520> in<00:07:04.090> our<00:07:04.210> remarks<00:07:04.660> as<00:07:05.470> a<00:07:05.530> way<00:07:05.680> to<00:07:05.710> frame
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here in our remarks as a way to frame
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here in our remarks as a way to frame
the<00:07:06.190> discussion<00:07:06.310> and<00:07:06.790> then<00:07:06.880> as<00:07:07.120> we're<00:07:07.330> said<00:07:07.600> we
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the discussion and then as we're said we
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the discussion and then as we're said we
would<00:07:07.960> like<00:07:08.350> to<00:07:08.380> open<00:07:08.680> up<00:07:08.800> as<00:07:09.040> much<00:07:09.460> of<00:07:09.580> the
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would like to open up as much of the
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would like to open up as much of the
time<00:07:09.730> as<00:07:09.910> we<00:07:10.000> can<00:07:10.210> just<00:07:10.450> for<00:07:10.630> good
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time as we can just for good
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time as we can just for good
conversation<00:07:10.960> so<00:07:11.820> the<00:07:12.820> beats<00:07:13.060> that<00:07:13.270> we<00:07:13.390> want
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conversation so the beats that we want
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conversation so the beats that we want
to<00:07:13.630> hit<00:07:13.810> this<00:07:13.990> evening<00:07:14.410> in<00:07:14.590> the<00:07:14.620> first<00:07:14.860> place
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to hit this evening in the first place
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to hit this evening in the first place
are<00:07:15.400> just<00:07:15.820> to<00:07:15.910> talk<00:07:16.150> about<00:07:16.330> what<00:07:16.600> we<00:07:16.690> even<00:07:16.960> mean
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are just to talk about what we even mean
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are just to talk about what we even mean
when<00:07:17.380> we<00:07:17.470> say<00:07:17.500> the<00:07:17.920> gardens<00:07:18.310> of<00:07:19.150> democracy<00:07:19.780> and
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when we say the gardens of democracy and
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when we say the gardens of democracy and
as<00:07:20.620> I'll<00:07:20.740> explain<00:07:20.770> in<00:07:21.160> a<00:07:21.220> moment<00:07:21.340> kind<00:07:21.760> of
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as I'll explain in a moment kind of
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as I'll explain in a moment kind of
these<00:07:22.000> two<00:07:22.570> very<00:07:22.950> differing<00:07:23.950> notions<00:07:24.100> of<00:07:24.370> how
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these two very differing notions of how
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these two very differing notions of how
to<00:07:24.580> see<00:07:24.970> the<00:07:25.750> world<00:07:25.960> and<00:07:26.320> and<00:07:26.560> and<00:07:26.830> the<00:07:27.190> way
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to see the world and and and the way
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to see the world and and and the way
people<00:07:27.340> behave<00:07:27.700> one<00:07:28.260> that<00:07:29.260> we<00:07:29.350> call<00:07:29.530> a<00:07:29.560> machine
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people behave one that we call a machine
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people behave one that we call a machine
brain<00:07:30.190> and<00:07:30.970> one<00:07:31.120> that<00:07:31.240> we<00:07:31.300> call<00:07:31.450> garden<00:07:31.810> brain
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brain and one that we call garden brain
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brain and one that we call garden brain
and<00:07:33.160> then<00:07:33.310> from<00:07:33.490> there<00:07:33.580> we're<00:07:33.850> going<00:07:33.970> to<00:07:34.030> talk
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and then from there we're going to talk
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and then from there we're going to talk
about<00:07:34.390> citizenship<00:07:35.850> actually<00:07:36.850> no<00:07:36.940> from<00:07:37.090> there
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about citizenship actually no from there
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about citizenship actually no from there
we're<00:07:37.300> going<00:07:37.420> to<00:07:37.480> talk<00:07:37.630> about<00:07:37.750> the<00:07:37.990> nature<00:07:38.170> of
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we're going to talk about the nature of
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we're going to talk about the nature of
self-interest<00:07:38.920> as<00:07:39.100> Nick<00:07:39.310> just<00:07:39.460> alluded<00:07:39.910> to<00:07:40.000> a
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self-interest as Nick just alluded to a
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self-interest as Nick just alluded to a
moment<00:07:40.390> ago<00:07:40.480> which<00:07:41.440> is<00:07:41.470> the<00:07:41.920> motor<00:07:42.280> force<00:07:42.840> for
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moment ago which is the motor force for
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moment ago which is the motor force for
politics<00:07:44.230> and<00:07:44.440> economics<00:07:44.500> and<00:07:45.220> yet<00:07:45.490> is<00:07:45.640> the
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politics and economics and yet is the
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politics and economics and yet is the
one<00:07:46.270> of<00:07:46.360> the<00:07:46.450> least<00:07:46.690> understood<00:07:46.930> things<00:07:47.560> that
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one of the least understood things that
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one of the least understood things that
drives<00:07:48.880> human<00:07:49.180> behavior<00:07:49.600> and<00:07:49.750> then<00:07:50.410> we're
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drives human behavior and then we're
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drives human behavior and then we're
going<00:07:50.590> to<00:07:50.680> talk<00:07:50.830> about<00:07:50.950> in<00:07:51.220> turn<00:07:51.430> citizenship
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going to talk about in turn citizenship
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going to talk about in turn citizenship
the<00:07:53.230> economy<00:07:53.740> and<00:07:53.920> the<00:07:54.340> role<00:07:54.490> of<00:07:54.520> government
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the economy and the role of government
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the economy and the role of government
and<00:07:55.930> the<00:07:56.020> way<00:07:56.170> is<00:07:56.230> that<00:07:56.410> all<00:07:56.560> three<00:07:56.860> of<00:07:56.890> those
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and the way is that all three of those
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and the way is that all three of those
pillars<00:07:58.240> of<00:07:58.330> public<00:07:58.960> life<00:07:59.580> are<00:08:00.580> understood
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pillars of public life are understood
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pillars of public life are understood
differently<00:08:01.270> when<00:08:01.720> you<00:08:01.810> see<00:08:01.990> them<00:08:02.140> through
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differently when you see them through
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differently when you see them through
the<00:08:02.410> lens<00:08:02.620> that<00:08:02.920> we're<00:08:03.280> going<00:08:03.370> to<00:08:03.430> describe<00:08:03.700> in
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the lens that we're going to describe in
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the lens that we're going to describe in
just<00:08:04.750> a<00:08:04.870> moment<00:08:05.230> so<00:08:06.240> car<00:08:07.240> machine<00:08:07.660> brain
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just a moment so car machine brain
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just a moment so car machine brain
versus<00:08:08.200> garden<00:08:08.500> brain<00:08:08.680> so<00:08:08.950> the<00:08:09.220> title<00:08:09.820> of<00:08:09.910> this
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versus garden brain so the title of this
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versus garden brain so the title of this
book<00:08:10.240> the<00:08:11.200> gardens<00:08:11.560> of<00:08:11.590> democracy<00:08:13.860> reflects
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book the gardens of democracy reflects
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book the gardens of democracy reflects
the<00:08:15.040> fact<00:08:15.250> that<00:08:15.400> for<00:08:15.790> centuries<00:08:16.420> from<00:08:17.350> the
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the fact that for centuries from the
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the fact that for centuries from the
founding<00:08:18.010> of<00:08:18.100> this<00:08:18.220> country<00:08:18.280> the<00:08:18.760> dominant
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founding of this country the dominant
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founding of this country the dominant
metaphor<00:08:19.630> for<00:08:19.780> understanding<00:08:20.590> how<00:08:21.070> the<00:08:21.130> world
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metaphor for understanding how the world
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metaphor for understanding how the world
works<00:08:21.790> in<00:08:22.630> American<00:08:23.020> life<00:08:23.110> has<00:08:23.320> been<00:08:23.730> the
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works in American life has been the
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works in American life has been the
machine<00:08:25.150> that<00:08:25.810> we<00:08:25.930> think<00:08:26.140> in<00:08:26.260> mechanistic
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machine that we think in mechanistic
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machine that we think in mechanistic
sturms<00:08:27.130> and<00:08:27.400> so<00:08:27.850> that<00:08:28.120> the<00:08:28.300> way<00:08:28.420> we<00:08:28.540> think
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sturms and so that the way we think
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sturms and so that the way we think
about<00:08:28.810> the<00:08:29.020> economy<00:08:29.320> the<00:08:29.710> way<00:08:30.070> we<00:08:30.310> think<00:08:30.460> about
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about the economy the way we think about
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about the economy the way we think about
how
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how
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how
works<00:08:31.759> all<00:08:32.029> the<00:08:32.089> language<00:08:32.960> and<00:08:33.050> metaphors<00:08:33.409> we
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works all the language and metaphors we
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works all the language and metaphors we
use<00:08:33.620> our<00:08:33.919> machine<00:08:34.279> metaphors<00:08:34.789> the<00:08:35.150> idea<00:08:35.419> that
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use our machine metaphors the idea that
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use our machine metaphors the idea that
the<00:08:35.659> economy<00:08:35.900> is<00:08:36.140> this<00:08:36.349> equilibrium
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the economy is this equilibrium
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the economy is this equilibrium
self-correcting<00:08:37.849> machine<00:08:38.210> the<00:08:38.839> language<00:08:39.260> of
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self-correcting machine the language of
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self-correcting machine the language of
economics<00:08:39.890> is<00:08:40.039> a<00:08:40.070> language<00:08:40.279> of<00:08:40.580> 19th<00:08:40.909> century
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economics is a language of 19th century
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economics is a language of 19th century
physics<00:08:41.659> and<00:08:42.529> the<00:08:43.130> language<00:08:43.490> of<00:08:43.610> how
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physics and the language of how
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physics and the language of how
government<00:08:44.570> works<00:08:44.600> in<00:08:45.020> the<00:08:45.110> way<00:08:45.230> that
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government works in the way that
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government works in the way that
government<00:08:46.850> policies<00:08:47.330> ought<00:08:47.450> to<00:08:47.540> work<00:08:47.660> is<00:08:47.930> the
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government policies ought to work is the
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government policies ought to work is the
language<00:08:48.380> in<00:08:48.500> many<00:08:48.650> ways<00:08:48.860> of<00:08:49.070> either
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language in many ways of either
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language in many ways of either
industrial<00:08:50.420> machines<00:08:50.779> or<00:08:51.080> in<00:08:51.380> more<00:08:51.529> recent
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industrial machines or in more recent
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industrial machines or in more recent
times<00:08:51.890> essentially<00:08:52.640> vending<00:08:52.940> machines<00:08:53.270> right
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times essentially vending machines right
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times essentially vending machines right
you<00:08:53.900> put<00:08:54.050> in<00:08:54.170> your<00:08:54.260> coin<00:08:54.500> you<00:08:55.279> push<00:08:55.460> your
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you put in your coin you push your
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you put in your coin you push your
button<00:08:55.910> and<00:08:56.029> if<00:08:56.089> you<00:08:56.180> don't<00:08:56.360> get<00:08:56.450> your<00:08:56.510> service
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button and if you don't get your service
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button and if you don't get your service
you<00:08:57.050> kick<00:08:57.260> the<00:08:57.410> thing<00:08:57.589> right<00:08:58.010> and<00:08:58.850> that's<00:08:59.060> our
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you kick the thing right and that's our
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you kick the thing right and that's our
notion<00:08:59.570> of<00:08:59.600> what<00:08:59.750> it<00:08:59.839> means<00:09:00.020> to<00:09:00.170> to<00:09:00.770> engage
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notion of what it means to to engage
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notion of what it means to to engage
with<00:09:01.130> government<00:09:01.760> and<00:09:01.820> part<00:09:02.779> of<00:09:02.900> a<00:09:02.990> part<00:09:03.440> of
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with government and part of a part of
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with government and part of a part of
the<00:09:03.650> belief<00:09:04.070> that<00:09:04.220> we<00:09:04.370> have<00:09:04.610> here<00:09:04.970> is<00:09:05.120> that
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the belief that we have here is that
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the belief that we have here is that
while<00:09:05.779> in<00:09:05.959> some<00:09:06.170> ways<00:09:06.350> that<00:09:06.560> metaphor<00:09:07.040> of<00:09:07.070> a
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while in some ways that metaphor of a
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while in some ways that metaphor of a
machine<00:09:07.339> has<00:09:08.209> served<00:09:08.540> us<00:09:08.750> well<00:09:08.810> and
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machine has served us well and
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machine has served us well and
understanding<00:09:10.040> and<00:09:10.160> making<00:09:10.370> sense<00:09:10.610> of<00:09:10.760> things
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understanding and making sense of things
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understanding and making sense of things
we're<00:09:11.720> certainly<00:09:12.110> at<00:09:12.230> a<00:09:12.290> time<00:09:12.500> right<00:09:12.709> now
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we're certainly at a time right now
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we're certainly at a time right now
where<00:09:12.950> that<00:09:13.339> metaphor<00:09:13.820> absolutely<00:09:14.600> fails<00:09:14.870> us
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where that metaphor absolutely fails us
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where that metaphor absolutely fails us
and<00:09:15.410> that<00:09:16.010> is<00:09:16.250> long<00:09:16.490> past<00:09:16.880> time<00:09:17.029> to<00:09:17.209> switch
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and that is long past time to switch
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and that is long past time to switch
from<00:09:17.750> the<00:09:17.839> metaphor<00:09:18.200> of<00:09:18.230> machine<00:09:18.740> to<00:09:19.339> the
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from the metaphor of machine to the
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from the metaphor of machine to the
metaphor<00:09:19.760> of<00:09:19.790> a<00:09:19.940> garden<00:09:20.209> and<00:09:20.830> understand<00:09:21.830> the
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metaphor of a garden and understand the
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metaphor of a garden and understand the
world<00:09:22.100> not<00:09:22.459> in<00:09:22.700> mechanistic<00:09:23.000> terms<00:09:23.480> but<00:09:23.720> in
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world not in mechanistic terms but in
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world not in mechanistic terms but in
terms<00:09:23.990> of<00:09:24.170> ecosystems<00:09:25.010> complex<00:09:25.940> adaptive
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terms of ecosystems complex adaptive
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terms of ecosystems complex adaptive
systems<00:09:27.350> systems<00:09:28.250> that<00:09:28.640> if<00:09:28.940> you<00:09:29.209> think<00:09:29.360> about
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systems systems that if you think about
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systems systems that if you think about
the<00:09:29.660> economy<00:09:29.930> an<00:09:30.290> economy<00:09:30.410> is<00:09:30.980> not<00:09:31.160> a<00:09:31.220> machine
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the economy an economy is not a machine
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the economy an economy is not a machine
that<00:09:31.820> self<00:09:32.029> corrects<00:09:32.510> and<00:09:32.660> an<00:09:33.020> economy<00:09:33.529> no
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that self corrects and an economy no
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that self corrects and an economy no
more<00:09:33.950> self<00:09:34.250> corrects<00:09:34.790> than<00:09:35.300> a<00:09:35.330> garden<00:09:35.810> self
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more self corrects than a garden self
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more self corrects than a garden self
tends<00:09:37.209> gardens<00:09:38.209> require<00:09:38.540> gardeners
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tends gardens require gardeners
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tends gardens require gardeners
gardeners<00:09:40.070> require<00:09:40.370> weeding<00:09:40.880> and<00:09:41.029> seeding
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gardeners require weeding and seeding
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gardeners require weeding and seeding
and<00:09:41.750> feeding<00:09:42.170> and<00:09:42.350> the<00:09:42.800> same<00:09:43.010> is<00:09:43.040> true<00:09:43.190> for
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and feeding and the same is true for
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and feeding and the same is true for
government<00:09:44.000> and<00:09:44.120> the<00:09:44.180> same<00:09:44.360> is<00:09:44.390> true<00:09:44.540> for
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government and the same is true for
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government and the same is true for
civic<00:09:45.650> life<00:09:45.860> and<00:09:46.190> you<00:09:46.610> know<00:09:46.700> these<00:09:46.880> two
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civic life and you know these two
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civic life and you know these two
competing<00:09:47.959> mindsets<00:09:48.709> that<00:09:48.830> we<00:09:49.040> depict<00:09:49.520> in
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competing mindsets that we depict in
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competing mindsets that we depict in
this<00:09:50.180> little<00:09:50.480> visual<00:09:51.140> from<00:09:51.440> our<00:09:51.589> book<00:09:51.770> between
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this little visual from our book between
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this little visual from our book between
machine<00:09:52.490> brain<00:09:52.730> and<00:09:52.910> garden<00:09:53.180> brain<00:09:53.420> aren't
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machine brain and garden brain aren't
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machine brain and garden brain aren't
just<00:09:54.560> at<00:09:54.740> the<00:09:54.830> level<00:09:55.130> of<00:09:55.250> metaphor<00:09:55.700> if<00:09:55.850> you
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just at the level of metaphor if you
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just at the level of metaphor if you
unpack<00:09:56.360> them<00:09:56.630> there<00:09:57.080> are<00:09:57.260> notions<00:09:57.709> built<00:09:57.920> into
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unpack them there are notions built into
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unpack them there are notions built into
them<00:09:58.370> about<00:09:58.959> assumptions<00:09:59.959> about<00:10:00.380> how<00:10:00.740> humans
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them about assumptions about how humans
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them about assumptions about how humans
behave<00:10:01.310> right<00:10:01.850> and<00:10:02.029> so<00:10:02.120> machine<00:10:02.480> brain<00:10:02.720> thinks
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behave right and so machine brain thinks
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behave right and so machine brain thinks
of<00:10:03.170> us<00:10:03.290> as<00:10:03.470> atomized<00:10:04.070> it<00:10:04.430> thinks<00:10:04.820> of<00:10:04.910> us<00:10:05.060> as
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of us as atomized it thinks of us as
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of us as atomized it thinks of us as
highly<00:10:05.690> rational<00:10:05.900> he<00:10:06.560> thinks<00:10:06.770> of<00:10:06.830> us<00:10:06.950> as
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highly rational he thinks of us as
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highly rational he thinks of us as
calculating<00:10:07.730> and<00:10:07.850> selfish<00:10:08.300> as<00:10:08.420> Nick<00:10:08.600> was
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calculating and selfish as Nick was
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calculating and selfish as Nick was
alluding<00:10:09.050> to<00:10:09.140> a<00:10:09.170> moment<00:10:09.560> ago<00:10:09.620> and<00:10:09.890> it<00:10:10.279> assumes
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alluding to a moment ago and it assumes
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alluding to a moment ago and it assumes
that<00:10:10.880> things<00:10:11.180> just<00:10:11.300> self-regulate<00:10:12.110> on<00:10:12.290> their
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that things just self-regulate on their
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that things just self-regulate on their
own<00:10:12.850> garden<00:10:13.850> brain<00:10:14.000> by<00:10:14.180> contrast<00:10:14.720> and<00:10:15.020> you
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own garden brain by contrast and you
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own garden brain by contrast and you
know<00:10:15.680> the<00:10:15.920> virtue<00:10:16.250> of<00:10:16.370> starting<00:10:16.850> our<00:10:16.910> book
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know the virtue of starting our book
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know the virtue of starting our book
tour<00:10:17.390> in<00:10:17.480> Seattle<00:10:17.930> is<00:10:18.050> that<00:10:18.320> we're<00:10:18.470> starting
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tour in Seattle is that we're starting
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tour in Seattle is that we're starting
in<00:10:18.890> a<00:10:18.950> town<00:10:19.130> of<00:10:19.279> gardeners<00:10:19.900> as<00:10:20.900> everybody<00:10:21.410> here
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in a town of gardeners as everybody here
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in a town of gardeners as everybody here
knows<00:10:21.910> gardens<00:10:22.910> are<00:10:23.240> not<00:10:23.690> mechanistic
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knows gardens are not mechanistic
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knows gardens are not mechanistic
gardens<00:10:24.680> are<00:10:24.950> complex<00:10:25.459> and<00:10:25.610> adaptive<00:10:26.060> and<00:10:26.360> you
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gardens are complex and adaptive and you
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gardens are complex and adaptive and you
can't<00:10:27.110> just<00:10:27.320> be<00:10:27.440> rational<00:10:27.920> about<00:10:27.980> them
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can't just be rational about them
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can't just be rational about them
they're<00:10:28.550> approximating<00:10:29.390> there<00:10:29.570> there's
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they're approximating there there's
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they're approximating there there's
they're<00:10:30.470> dynamic<00:10:30.830> and<00:10:31.339> evolving<00:10:31.790> systems<00:10:32.270> and
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they're dynamic and evolving systems and
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they're dynamic and evolving systems and
the<00:10:33.200> ways<00:10:33.470> that<00:10:33.709> one<00:10:33.890> thinks<00:10:34.400> about<00:10:34.520> social
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the ways that one thinks about social
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the ways that one thinks about social
life<00:10:35.660> and<00:10:35.810> civic<00:10:36.170> life<00:10:36.350> when<00:10:36.589> you<00:10:36.680> have<00:10:36.709> garden
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life and civic life when you have garden
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life and civic life when you have garden
brain<00:10:37.520> turned<00:10:37.820> on<00:10:38.060> turns<00:10:38.839> out<00:10:38.930> to<00:10:39.020> be<00:10:39.050> very
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brain turned on turns out to be very
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brain turned on turns out to be very
different<00:10:39.740> from<00:10:40.190> the<00:10:40.339> way<00:10:40.459> that<00:10:40.579> you<00:10:40.670> think
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different from the way that you think
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different from the way that you think
about<00:10:40.940> things<00:10:41.209> when<00:10:41.420> you<00:10:41.510> have<00:10:41.630> machine<00:10:41.959> brain
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about things when you have machine brain
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about things when you have machine brain
on<00:10:42.410> and<00:10:42.620> is<00:10:42.680> we're<00:10:42.800> going<00:10:42.920> to<00:10:42.980> discuss<00:10:43.430> at
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on and is we're going to discuss at
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on and is we're going to discuss at
greater<00:10:44.270> length<00:10:44.360> that<00:10:45.050> has
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greater length that has
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greater length that has
implications<00:10:46.130> for<00:10:46.820> the<00:10:46.880> way<00:10:46.940> you<00:10:47.090> think<00:10:47.330> about
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implications for the way you think about
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implications for the way you think about
citizenship<00:10:48.470> the<00:10:48.830> economy<00:10:49.220> in<00:10:49.280> the<00:10:49.340> role<00:10:49.460> of
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citizenship the economy in the role of
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citizenship the economy in the role of
government<00:10:49.670> but<00:10:50.030> what<00:10:50.120> it<00:10:50.210> has<00:10:50.330> particular
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government but what it has particular
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government but what it has particular
implications<00:10:51.710> for<00:10:51.950> is<00:10:52.160> how<00:10:52.670> you
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implications for is how you
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implications for is how you
conceptualize<00:10:53.210> the<00:10:53.750> simple<00:10:54.230> idea<00:10:54.350> of
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conceptualize the simple idea of
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conceptualize the simple idea of
self-interest<00:10:55.760> which<00:10:56.060> nick<00:10:56.450> is<00:10:56.570> going<00:10:56.690> to
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self-interest which nick is going to
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self-interest which nick is going to
speak<00:10:56.930> to<00:10:57.110> in<00:10:57.140> the<00:10:57.290> moment<00:10:57.530> great<00:11:00.160> you<00:11:01.160> should
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speak to in the moment great you should
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speak to in the moment great you should
know<00:11:01.490> that<00:11:01.520> this<00:11:01.760> is<00:11:01.880> the<00:11:02.000> first<00:11:02.210> time<00:11:02.390> we've
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know that this is the first time we've
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know that this is the first time we've
ever<00:11:02.720> talked<00:11:03.050> to<00:11:03.170> a<00:11:03.200> group<00:11:06.790> about<00:11:07.790> this<00:11:08.030> about
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ever talked to a group about this about
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ever talked to a group about this about
this<00:11:08.540> material<00:11:08.810> so<00:11:09.260> I<00:11:09.920> and<00:11:10.670> desert<00:11:11.300> new<00:11:11.600> slide
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this material so I and desert new slide
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this material so I and desert new slide
deck<00:11:12.080> which<00:11:12.320> took<00:11:13.280> 10<00:11:13.580> minutes<00:11:13.880> to<00:11:14.000> make<00:11:14.120> so<00:11:14.450> I
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so<00:11:18.200> so<00:11:19.060> what<00:11:20.060> Eric<00:11:20.680> talked<00:11:21.680> about<00:11:21.980> was<00:11:22.250> the
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so so what Eric talked about was the
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so so what Eric talked about was the
difference<00:11:22.880> between<00:11:23.060> machine<00:11:23.660> brain<00:11:23.990> and
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difference between machine brain and
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difference between machine brain and
garden<00:11:24.650> brain<00:11:24.950> and<00:11:25.420> the<00:11:26.420> the<00:11:26.990> difference<00:11:27.470> in
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garden brain and the the difference in
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garden brain and the the difference in
both<00:11:28.700> the<00:11:28.820> nature<00:11:29.060> and<00:11:29.150> the<00:11:29.210> power<00:11:29.450> of<00:11:29.690> the
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both the nature and the power of the
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both the nature and the power of the
metaphors<00:11:30.200> that<00:11:30.260> they<00:11:30.470> represent<00:11:30.980> but<00:11:31.760> what's
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metaphors that they represent but what's
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metaphors that they represent but what's
worth<00:11:32.150> underscoring<00:11:32.660> is<00:11:33.610> is<00:11:34.610> not<00:11:35.360> just<00:11:35.960> that
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worth underscoring is is not just that
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worth underscoring is is not just that
we<00:11:36.470> need<00:11:36.650> to<00:11:36.770> shift<00:11:36.920> metaphors<00:11:37.520> but<00:11:37.820> that<00:11:38.180> more
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we need to shift metaphors but that more
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we need to shift metaphors but that more
broadly<00:11:40.570> we<00:11:41.570> have<00:11:41.810> over<00:11:42.140> the<00:11:42.230> last<00:11:42.380> 40<00:11:42.800> to<00:11:42.950> 50
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broadly we have over the last 40 to 50
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broadly we have over the last 40 to 50
years<00:11:43.490> gone<00:11:43.790> through<00:11:44.150> a<00:11:44.680> scientific
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years gone through a scientific
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years gone through a scientific
revolution<00:11:46.430> which<00:11:47.150> matches<00:11:47.840> in<00:11:48.140> our<00:11:48.350> view<00:11:48.820> in
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revolution which matches in our view in
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revolution which matches in our view in
importance<00:11:50.330> the<00:11:51.260> Enlightenment<00:11:51.890> so<00:11:52.540> for
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importance the Enlightenment so for
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importance the Enlightenment so for
since<00:11:56.390> approximately<00:11:57.170> nineteen<00:11:57.950> sixty<00:11:58.310> five
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since approximately nineteen sixty five
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since approximately nineteen sixty five
scientists<00:12:00.080> and<00:12:00.290> mathematicians<00:12:00.380> have<00:12:01.280> been
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scientists and mathematicians have been
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scientists and mathematicians have been
unraveling<00:12:02.270> the<00:12:02.420> mysteries<00:12:02.870> of<00:12:02.900> systems<00:12:03.590> and
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unraveling the mysteries of systems and
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unraveling the mysteries of systems and
the<00:12:05.360> idea<00:12:05.720> that<00:12:05.810> was<00:12:06.410> present<00:12:06.830> for<00:12:06.890> the<00:12:07.160> prior
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the idea that was present for the prior
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the idea that was present for the prior
three<00:12:07.670> hundred<00:12:08.000> years<00:12:08.210> that<00:12:08.450> all<00:12:08.630> the<00:12:08.780> systems
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three hundred years that all the systems
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three hundred years that all the systems
that<00:12:09.230> we<00:12:09.410> inhabit<00:12:09.830> and<00:12:10.430> the<00:12:11.000> behaviors<00:12:11.360> that
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that we inhabit and the behaviors that
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that we inhabit and the behaviors that
we<00:12:11.660> see<00:12:12.530> in<00:12:12.560> them<00:12:12.770> are<00:12:12.940> our<00:12:13.940> linear<00:12:15.100> has<00:12:16.100> been
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we see in them are our linear has been
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we see in them are our linear has been
has<00:12:16.850> been<00:12:16.880> demolished<00:12:17.480> has<00:12:17.900> been<00:12:18.080> pushed
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has been demolished has been pushed
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has been demolished has been pushed
aside<00:12:18.470> for<00:12:19.100> a<00:12:19.130> much<00:12:19.340> richer<00:12:19.520> and<00:12:20.000> more
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aside for a much richer and more
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aside for a much richer and more
powerful<00:12:21.460> understanding<00:12:22.460> of<00:12:22.550> the<00:12:23.060> systems
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powerful understanding of the systems
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powerful understanding of the systems
that<00:12:23.510> we<00:12:23.600> inhabit<00:12:23.960> things<00:12:24.170> like<00:12:24.380> ecosystems
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that we inhabit things like ecosystems
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that we inhabit things like ecosystems
and<00:12:25.660> and<00:12:26.660> economies<00:12:27.350> and<00:12:29.620> the<00:12:30.620> networks<00:12:30.950> in
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and and economies and the networks in
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and and economies and the networks in
which<00:12:31.220> we<00:12:31.340> live<00:12:31.490> as<00:12:31.730> complex<00:12:32.660> and<00:12:32.900> adaptive
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which we live as complex and adaptive
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which we live as complex and adaptive
and<00:12:33.680> it<00:12:34.130> is<00:12:34.250> just<00:12:34.570> it's<00:12:35.570> not<00:12:35.720> a<00:12:35.750> matter<00:12:35.930> of
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and it is just it's not a matter of
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and it is just it's not a matter of
perception<00:12:37.130> or<00:12:37.520> or<00:12:38.150> feeling<00:12:38.570> anymore<00:12:38.750> it's
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perception or or feeling anymore it's
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perception or or feeling anymore it's
really<00:12:39.260> a<00:12:39.290> matter<00:12:39.710> of<00:12:39.860> fact<00:12:40.280> that<00:12:41.060> the<00:12:41.720> systems
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really a matter of fact that the systems
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really a matter of fact that the systems
we<00:12:42.350> inhabit<00:12:42.740> as<00:12:42.830> human<00:12:43.100> beings<00:12:43.130> are<00:12:43.670> complex
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we inhabit as human beings are complex
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we inhabit as human beings are complex
adaptive<00:12:44.360> and<00:12:44.900> are<00:12:44.990> much<00:12:45.170> more<00:12:45.350> like<00:12:46.810> aren't
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adaptive and are much more like aren't
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adaptive and are much more like aren't
just<00:12:47.930> an<00:12:48.860> economy<00:12:49.340> for<00:12:49.460> instance<00:12:49.760> isn't<00:12:49.970> like
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just an economy for instance isn't like
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just an economy for instance isn't like
a<00:12:50.470> an<00:12:51.470> ecosystem<00:12:52.100> it<00:12:52.220> actually<00:12:52.550> is<00:12:52.760> a<00:12:52.790> type<00:12:53.210> of
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a an ecosystem it actually is a type of
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a an ecosystem it actually is a type of
an<00:12:53.450> ecosystem<00:12:53.690> it's<00:12:54.170> an<00:12:54.260> incredibly
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an ecosystem it's an incredibly
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an ecosystem it's an incredibly
important<00:12:55.490> shift<00:12:56.560> and<00:12:57.560> and
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important shift and and
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important shift and and
that<00:13:00.960> understanding<00:13:02.210> let's<00:13:03.210> go<00:13:03.330> to<00:13:03.390> the<00:13:03.570> next
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that understanding let's go to the next
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that understanding let's go to the next
slide<00:13:06.020> I<00:13:07.640> has<00:13:08.640> has<00:13:09.060> a<00:13:09.090> very<00:13:09.390> transformational
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slide I has has a very transformational
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slide I has has a very transformational
forcing<00:13:12.570> function<00:13:12.870> on<00:13:12.990> how<00:13:13.140> you<00:13:13.200> understand
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forcing function on how you understand
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forcing function on how you understand
yourself<00:13:14.130> and<00:13:14.520> how<00:13:14.670> you<00:13:14.700> interact<00:13:15.330> in<00:13:15.480> the
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yourself and how you interact in the
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yourself and how you interact in the
world<00:13:16.160> self-interest<00:13:17.160> itself<00:13:17.640> is<00:13:18.080> the
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world self-interest itself is the
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world self-interest itself is the
intensity<00:13:19.500> of<00:13:19.680> self-interest<00:13:20.220> in<00:13:20.610> our<00:13:20.820> view<00:13:20.990> /
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intensity of self-interest in our view /
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intensity of self-interest in our view /
over<00:13:22.380> time<00:13:22.590> and<00:13:22.770> history<00:13:22.920> is<00:13:23.910> relatively
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over time and history is relatively
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over time and history is relatively
unchanging<00:13:26.340> people<00:13:26.850> are<00:13:27.090> self-interested
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unchanging people are self-interested
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unchanging people are self-interested
and<00:13:28.380> they<00:13:28.590> remain<00:13:29.430> intensely<00:13:30.120> so<00:13:30.530> across<00:13:31.530> time
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and they remain intensely so across time
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and they remain intensely so across time
and<00:13:31.950> culture<00:13:32.580> but<00:13:33.330> what<00:13:33.570> does<00:13:33.900> change
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and culture but what does change
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and culture but what does change
profoundly<00:13:35.610> from<00:13:36.120> time<00:13:36.360> to<00:13:36.540> time<00:13:36.570> is<00:13:37.050> how
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profoundly from time to time is how
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profoundly from time to time is how
people<00:13:37.650> define<00:13:38.580> felt<00:13:39.030> self<00:13:39.360> interests<00:13:39.900> and
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people define felt self interests and
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people define felt self interests and
our<00:13:40.650> view<00:13:40.980> is<00:13:41.010> that<00:13:41.190> politics<00:13:42.090> in<00:13:42.300> many<00:13:42.450> ways
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our view is that politics in many ways
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our view is that politics in many ways
can<00:13:43.140> be<00:13:43.920> can<00:13:44.760> be<00:13:44.790> imagined<00:13:45.570> simply<00:13:46.110> as<00:13:46.290> an
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can be can be imagined simply as an
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can be can be imagined simply as an
expression<00:13:47.130> of<00:13:47.490> what<00:13:48.270> the<00:13:48.420> culture<00:13:48.630> that
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expression of what the culture that
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expression of what the culture that
thinks<00:13:49.590> their<00:13:50.130> self-interest<00:13:50.910> is<00:13:51.120> and<00:13:51.630> so
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thinks their self-interest is and so
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thinks their self-interest is and so
when<00:13:53.580> in<00:13:54.480> order<00:13:54.840> for<00:13:55.020> politics<00:13:55.620> to<00:13:55.830> change<00:13:56.100> a
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when in order for politics to change a
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when in order for politics to change a
lot<00:13:56.460> people<00:13:57.150> have<00:13:57.480> to<00:13:57.630> change<00:13:57.990> their<00:13:58.320> views<00:13:58.740> a
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lot people have to change their views a
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lot people have to change their views a
lot<00:13:59.250> about<00:13:59.490> where<00:14:00.030> their<00:14:00.300> self<00:14:00.630> interest<00:14:00.810> lies
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lot about where their self interest lies
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lot about where their self interest lies
and<00:14:01.920> it's<00:14:02.400> our<00:14:02.610> view<00:14:02.910> and<00:14:03.150> one<00:14:03.270> of<00:14:03.390> the
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and it's our view and one of the
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and it's our view and one of the
fundamental<00:14:03.690> thesis<00:14:04.200> of<00:14:04.440> this<00:14:04.890> book<00:14:05.220> that<00:14:05.730> we
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fundamental thesis of this book that we
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fundamental thesis of this book that we
are<00:14:05.970> at<00:14:06.150> one<00:14:06.510> of<00:14:06.630> those<00:14:06.750> moments<00:14:07.080> that<00:14:07.440> a
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are at one of those moments that a
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are at one of those moments that a
revolution<00:14:09.600> in<00:14:09.780> scientific<00:14:10.500> understanding
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revolution in scientific understanding
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revolution in scientific understanding
is<00:14:11.750> going<00:14:12.750> to<00:14:12.900> animate<00:14:13.490> profound<00:14:14.490> changes<00:14:15.150> in
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is going to animate profound changes in
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is going to animate profound changes in
how<00:14:15.540> people<00:14:15.570> see<00:14:16.380> their<00:14:16.770> self<00:14:17.070> interest<00:14:17.280> and
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how people see their self interest and
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how people see their self interest and
therefore<00:14:18.510> how<00:14:19.320> they<00:14:19.530> might<00:14:19.710> how<00:14:20.490> they<00:14:20.640> how
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therefore how they might how they how
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therefore how they might how they how
they'll<00:14:21.360> permit<00:14:21.690> themselves<00:14:21.870> to<00:14:22.230> reimagine
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they'll permit themselves to reimagine
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they'll permit themselves to reimagine
the<00:14:24.150> the<00:14:24.720> other<00:14:24.870> social<00:14:25.110> system<00:14:25.560> around<00:14:25.800> them
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the the other social system around them
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the the other social system around them
citizenship<00:14:26.850> economics<00:14:27.780> in<00:14:27.930> the<00:14:28.350> role<00:14:28.500> of
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citizenship economics in the role of
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citizenship economics in the role of
government<00:14:28.740> and<00:14:29.190> and<00:14:29.850> I<00:14:29.940> just<00:14:30.150> wanted<00:14:30.270> to
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government and and I just wanted to
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government and and I just wanted to
point<00:14:30.660> out<00:14:30.870> a<00:14:31.110> few<00:14:32.210> this<00:14:33.210> is<00:14:33.390> a<00:14:33.570> long<00:14:33.930> and
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point out a few this is a long and
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point out a few this is a long and
complicated<00:14:35.730> subject<00:14:36.450> and<00:14:36.630> and<00:14:36.900> a<00:14:37.290> huge
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complicated subject and and a huge
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complicated subject and and a huge
hugely<00:14:38.670> difficult<00:14:39.060> part<00:14:39.630> of<00:14:39.870> writing<00:14:40.380> this
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hugely difficult part of writing this
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hugely difficult part of writing this
book<00:14:40.740> was<00:14:41.070> trying<00:14:41.460> to<00:14:41.640> synthesize<00:14:41.880> a<00:14:43.220> large
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book was trying to synthesize a large
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book was trying to synthesize a large
number<00:14:44.640> of<00:14:44.990> incredibly<00:14:45.990> complicated<00:14:46.410> ideas
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number of incredibly complicated ideas
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number of incredibly complicated ideas
but<00:14:47.460> there<00:14:48.270> is<00:14:48.390> a<00:14:48.420> huge<00:14:48.990> difference<00:14:49.550> between
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but there is a huge difference between
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but there is a huge difference between
understanding<00:14:51.240> yourself<00:14:51.300> living<00:14:51.810> in<00:14:51.990> a
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understanding yourself living in a
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understanding yourself living in a
simple<00:14:52.470> versus<00:14:52.830> a<00:14:52.860> complex<00:14:53.460> system<00:14:54.060> there's<00:14:55.050> a
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simple versus a complex system there's a
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simple versus a complex system there's a
huge<00:14:55.560> difference<00:14:55.800> between<00:14:56.370> understanding
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huge difference between understanding
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huge difference between understanding
yourself<00:14:57.090> as<00:14:57.600> atomized<00:14:58.260> verses<00:14:59.190> on<00:15:00.000> a<00:15:00.060> network
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yourself as atomized verses on a network
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yourself as atomized verses on a network
there's<00:15:01.350> a<00:15:01.440> huge<00:15:01.890> difference<00:15:02.130> between
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there's a huge difference between
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there's a huge difference between
understanding<00:15:03.570> the<00:15:03.660> system<00:15:04.020> in<00:15:04.140> which<00:15:04.230> you
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understanding the system in which you
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understanding the system in which you
live<00:15:04.560> as<00:15:04.860> for<00:15:05.310> instance<00:15:05.550> an<00:15:05.730> equilibrium
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live as for instance an equilibrium
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live as for instance an equilibrium
system<00:15:06.540> versus<00:15:07.020> a<00:15:07.050> non<00:15:07.260> equilibrium<00:15:07.470> system
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system versus a non equilibrium system
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system versus a non equilibrium system
and<00:15:08.460> I'll<00:15:08.520> just<00:15:08.730> I'll<00:15:08.940> just<00:15:09.000> touch<00:15:09.840> on<00:15:10.050> a
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and I'll just I'll just touch on a
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and I'll just I'll just touch on a
couple<00:15:10.350> of<00:15:10.740> these<00:15:10.860> examples<00:15:11.130> we<00:15:11.670> could<00:15:11.790> go<00:15:11.910> on
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couple of these examples we could go on
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couple of these examples we could go on
and<00:15:12.240> on<00:15:12.330> but
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and on but
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and on but
if<00:15:13.199> you<00:15:13.740> imagine<00:15:14.129> you<00:15:14.579> live<00:15:14.790> in<00:15:14.970> a<00:15:15.060> linear
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if you imagine you live in a linear
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if you imagine you live in a linear
system<00:15:15.800> then<00:15:16.800> another<00:15:17.730> fish<00:15:18.120> out<00:15:18.420> of<00:15:18.720> the<00:15:18.810> sea
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system then another fish out of the sea
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system then another fish out of the sea
is<00:15:19.319> just<00:15:19.860> another<00:15:20.339> fish<00:15:20.670> out<00:15:20.939> of<00:15:20.970> the<00:15:21.120> sea<00:15:21.500> once
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is just another fish out of the sea once
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is just another fish out of the sea once
you<00:15:22.680> recognize<00:15:22.949> that<00:15:23.639> it's<00:15:23.819> complex<00:15:24.329> and
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you recognize that it's complex and
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you recognize that it's complex and
adaptive<00:15:25.189> then<00:15:26.189> you<00:15:26.670> have<00:15:26.910> to<00:15:27.060> confront<00:15:27.329> the
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adaptive then you have to confront the
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adaptive then you have to confront the
fact<00:15:27.720> that<00:15:28.019> another<00:15:28.500> fish<00:15:28.920> out<00:15:29.160> of<00:15:29.339> the<00:15:29.430> sea
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fact that another fish out of the sea
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fact that another fish out of the sea
may<00:15:30.329> start<00:15:30.720> a<00:15:30.930> cascade<00:15:31.649> of<00:15:31.680> extinction<00:15:32.610> and<00:15:33.139> so
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may start a cascade of extinction and so
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may start a cascade of extinction and so
your<00:15:35.870> your<00:15:36.870> perception<00:15:37.649> about<00:15:37.829> risk<00:15:38.759> can
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your your perception about risk can
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your your perception about risk can
change<00:15:40.399> dramatically<00:15:41.399> and<00:15:41.699> and<00:15:42.569> as<00:15:43.259> we<00:15:43.829> come
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change dramatically and and as we come
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change dramatically and and as we come
to<00:15:44.310> understand<00:15:44.819> the<00:15:45.029> systems<00:15:45.389> around<00:15:45.540> us<00:15:45.899> in
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to understand the systems around us in
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to understand the systems around us in
this<00:15:46.259> way<00:15:46.529> it<00:15:46.920> begins<00:15:47.610> to<00:15:47.699> shape<00:15:48.120> how<00:15:48.540> we<00:15:48.569> view
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this way it begins to shape how we view
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this way it begins to shape how we view
ourselves<00:15:49.319> and<00:15:50.100> how<00:15:50.490> we<00:15:50.519> operate<00:15:51.740> with
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ourselves and how we operate with
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ourselves and how we operate with
respect<00:15:53.160> to<00:15:53.250> one<00:15:53.399> another<00:15:54.649> it's<00:15:55.649> trying<00:15:55.949> to
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respect to one another it's trying to
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respect to one another it's trying to
think<00:15:56.370> it's<00:15:57.300> worth<00:15:57.509> it's<00:15:57.810> worth<00:15:58.639> highlighting
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think it's worth it's worth highlighting
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think it's worth it's worth highlighting
a<00:15:59.970> little<00:16:00.209> bit<00:16:00.360> the<00:16:01.199> difference<00:16:01.790> that<00:16:02.790> this
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a little bit the difference that this
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a little bit the difference that this
revolution<00:16:03.689> and<00:16:03.839> understanding<00:16:04.470> has<00:16:04.589> had
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revolution and understanding has had
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revolution and understanding has had
around<00:16:05.790> how<00:16:06.329> we<00:16:06.389> view<00:16:06.839> the<00:16:07.230> agents<00:16:07.829> in<00:16:07.980> the
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around how we view the agents in the
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around how we view the agents in the
system<00:16:08.430> so<00:16:08.699> for<00:16:09.089> 300<00:16:09.810> years<00:16:10.019> there's<00:16:10.439> been
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system so for 300 years there's been
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system so for 300 years there's been
this<00:16:10.800> operating<00:16:11.449> basically<00:16:12.449> guiding
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this operating basically guiding
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this operating basically guiding
principle<00:16:13.230> about<00:16:13.379> human<00:16:13.740> behavior<00:16:13.860> which
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principle about human behavior which
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principle about human behavior which
undergirds<00:16:15.149> all<00:16:15.389> traditional<00:16:16.050> economics
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undergirds all traditional economics
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undergirds all traditional economics
which<00:16:16.740> is<00:16:16.920> that<00:16:17.069> people<00:16:17.129> are<00:16:17.519> rational
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which is that people are rational
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which is that people are rational
calculating<00:16:18.809> calculating<00:16:19.170> and
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calculating calculating and
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calculating calculating and
self-interest<00:16:20.129> and<00:16:20.339> indeed<00:16:20.610> all<00:16:20.790> modern
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self-interest and indeed all modern
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self-interest and indeed all modern
economics<00:16:22.019> depends<00:16:22.559> on<00:16:22.680> people<00:16:22.860> being
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economics depends on people being
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economics depends on people being
perfectly<00:16:23.790> rational<00:16:24.059> calculators<00:16:24.959> of<00:16:25.170> their
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perfectly rational calculators of their
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perfectly rational calculators of their
self-interest<00:16:27.379> but<00:16:28.379> it<00:16:28.470> turns<00:16:28.680> out<00:16:28.860> that<00:16:28.920> that
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self-interest but it turns out that that
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self-interest but it turns out that that
assumption<00:16:29.759> is<00:16:29.910> completely<00:16:30.899> wrong<00:16:31.110> that<00:16:31.500> we
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assumption is completely wrong that we
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assumption is completely wrong that we
know<00:16:31.769> now<00:16:32.009> that<00:16:32.040> people<00:16:32.759> aren't<00:16:33.149> selfish
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know now that people aren't selfish
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know now that people aren't selfish
they're<00:16:34.139> there<00:16:34.559> what's<00:16:35.459> called<00:16:35.670> strongly
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they're there what's called strongly
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they're there what's called strongly
reciprocal<00:16:36.870> they're<00:16:37.350> not<00:16:37.500> calculating<00:16:38.220> it
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reciprocal they're not calculating it
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reciprocal they're not calculating it
turns<00:16:38.490> out<00:16:38.639> they're<00:16:38.879> approximating<00:16:39.720> and
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turns out they're approximating and
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turns out they're approximating and
they're<00:16:40.230> not<00:16:40.379> rational<00:16:40.949> they<00:16:41.069> turn<00:16:41.250> out<00:16:41.279> to<00:16:41.519> be
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they're not rational they turn out to be
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they're not rational they turn out to be
emotional<00:16:42.209> and<00:16:42.300> that<00:16:42.899> change<00:16:43.559> in
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emotional and that change in
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emotional and that change in
understanding<00:16:44.490> of<00:16:44.639> how<00:16:45.350> human<00:16:46.350> beings
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understanding of how human beings
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understanding of how human beings
actually<00:16:47.519> are<00:16:49.100> either<00:16:50.100> does<00:16:50.519> or<00:16:50.699> should<00:16:51.000> have
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actually are either does or should have
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actually are either does or should have
a<00:16:51.240> profound<00:16:52.759> impact<00:16:53.759> on<00:16:54.569> how<00:16:54.779> we<00:16:54.809> r<00:16:55.290> e
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a profound impact on how we r e
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a profound impact on how we r e
conceptualize<00:16:56.279> how<00:16:56.309> we<00:16:56.550> build<00:16:56.819> social
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conceptualize how we build social
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conceptualize how we build social
systems<00:16:57.629> and<00:16:58.559> with<00:16:58.920> that<00:16:59.069> I<00:16:59.339> think<00:16:59.459> it's<00:16:59.699> worth
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systems and with that I think it's worth
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systems and with that I think it's worth
starting<00:17:00.209> with<00:17:00.540> citizenship<00:17:01.529> you<00:17:02.519> know<00:17:02.639> if
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starting with citizenship you know if
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starting with citizenship you know if
there's<00:17:03.149> one<00:17:03.329> way<00:17:03.509> I<00:17:03.540> would<00:17:03.750> sum<00:17:03.990> up<00:17:04.020> these
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there's one way I would sum up these
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there's one way I would sum up these
changes<00:17:05.100> it<00:17:05.610> goes<00:17:05.850> back<00:17:06.120> to<00:17:06.150> this<00:17:06.480> idea<00:17:06.659> that
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changes it goes back to this idea that
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changes it goes back to this idea that
true<00:17:07.530> self<00:17:08.100> interest<00:17:08.490> that's<00:17:08.640> right<00:17:08.789> is
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true self interest that's right is
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true self interest that's right is
mutual<00:17:09.510> interest<00:17:09.839> interest<00:17:10.380> right<00:17:10.740> and<00:17:11.010> that
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mutual interest interest right and that
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mutual interest interest right and that
this<00:17:12.209> again<00:17:12.539> this<00:17:12.720> sounds<00:17:13.169> like<00:17:13.289> just<00:17:13.530> a
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this again this sounds like just a
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this again this sounds like just a
little<00:17:14.309> precept<00:17:14.699> to<00:17:14.819> buzz<00:17:15.000> by<00:17:15.030> but<00:17:15.569> I<00:17:15.600> invite
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little precept to buzz by but I invite
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little precept to buzz by but I invite
you<00:17:15.990> to<00:17:16.169> sit<00:17:16.350> with<00:17:16.530> it<00:17:16.620> for<00:17:16.650> a<00:17:16.799> moment<00:17:16.919> because
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you to sit with it for a moment because
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you to sit with it for a moment because
everything<00:17:18.630> from<00:17:18.990> our<00:17:19.289> theories<00:17:19.740> of<00:17:19.770> what<00:17:20.100> an
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everything from our theories of what an
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everything from our theories of what an
economy<00:17:20.699> a<00:17:20.730> capitalist<00:17:21.240> economy<00:17:21.689> is<00:17:21.839> to<00:17:22.770> our
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economy a capitalist economy is to our
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economy a capitalist economy is to our
notion<00:17:23.459> laid<00:17:23.730> out<00:17:23.880> in<00:17:24.030> federalist<00:17:24.510> 10<00:17:24.569> of
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notion laid out in federalist 10 of
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notion laid out in federalist 10 of
how<00:17:25.289> we<00:17:25.350> in<00:17:25.829> selfish<00:17:26.339> self-interested
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how we in selfish self-interested
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how we in selfish self-interested
factions<00:17:27.809> bump<00:17:28.319> around<00:17:28.470> each<00:17:28.740> other<00:17:28.919> like
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factions bump around each other like
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factions bump around each other like
atoms<00:17:29.490> and<00:17:29.669> and<00:17:30.299> fight<00:17:30.510> one<00:17:30.690> another<00:17:31.039> you<00:17:32.039> know
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atoms and and fight one another you know
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atoms and and fight one another you know
does<00:17:32.669> not<00:17:32.909> give<00:17:33.299> full<00:17:33.600> credence<00:17:33.899> to<00:17:34.139> the<00:17:34.320> idea
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does not give full credence to the idea
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does not give full credence to the idea
that<00:17:34.740> we<00:17:35.519> are<00:17:35.700> in<00:17:36.029> a<00:17:36.360> web<00:17:36.690> woven<00:17:37.380> together<00:17:37.710> with
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that we are in a web woven together with
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that we are in a web woven together with
our<00:17:38.130> fates<00:17:38.490> entwined<00:17:39.000> and<00:17:39.380> that<00:17:40.380> there<00:17:40.769> is<00:17:40.950> no
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our fates entwined and that there is no
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our fates entwined and that there is no
way<00:17:41.429> to<00:17:41.760> cabin<00:17:42.419> off<00:17:42.539> my<00:17:42.840> self<00:17:43.740> interest<00:17:44.159> from
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way to cabin off my self interest from
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way to cabin off my self interest from
yours<00:17:44.760> there<00:17:45.029> is<00:17:45.120> no<00:17:45.299> way<00:17:45.480> to<00:17:45.510> cut<00:17:45.899> off<00:17:46.049> my<00:17:46.320> fate
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yours there is no way to cut off my fate
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yours there is no way to cut off my fate
from<00:17:47.460> yours<00:17:47.730> right<00:17:48.090> and<00:17:48.360> that<00:17:48.480> mutuality<00:17:49.190> has
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from yours right and that mutuality has
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from yours right and that mutuality has
long<00:17:50.490> been<00:17:50.789> of<00:17:50.970> course<00:17:51.210> an<00:17:51.419> ethical<00:17:51.870> precept
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long been of course an ethical precept
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long been of course an ethical precept
that<00:17:52.440> people<00:17:52.889> of<00:17:52.980> all<00:17:53.159> different<00:17:53.190> faiths<00:17:53.669> and
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that people of all different faiths and
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that people of all different faiths and
spiritual<00:17:54.269> and<00:17:54.419> political<00:17:54.510> traditions<00:17:55.169> have
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spiritual and political traditions have
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spiritual and political traditions have
spoken<00:17:56.370> of<00:17:56.669> but<00:17:57.269> what<00:17:57.480> as<00:17:57.659> Nick<00:17:58.049> said<00:17:58.320> what<00:17:58.919> we
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spoken of but what as Nick said what we
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spoken of but what as Nick said what we
have<00:17:59.220> right<00:17:59.460> now<00:17:59.519> in<00:17:59.850> this<00:17:59.970> moment<00:18:00.149> is<00:18:00.510> an
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have right now in this moment is an
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have right now in this moment is an
incredible<00:18:01.380> volume<00:18:01.639> virtually<00:18:02.639> a<00:18:02.669> second
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incredible volume virtually a second
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incredible volume virtually a second
Enlightenment's<00:18:03.630> worth<00:18:03.809> of<00:18:04.190> science<00:18:05.190> to<00:18:05.789> now
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Enlightenment's worth of science to now
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Enlightenment's worth of science to now
give<00:18:06.210> factual<00:18:06.809> emphasis<00:18:07.320> behind<00:18:07.769> this<00:18:07.950> moral
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give factual emphasis behind this moral
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give factual emphasis behind this moral
precept<00:18:08.669> and<00:18:08.850> I<00:18:09.299> think<00:18:09.480> that's<00:18:09.600> just<00:18:09.690> one<00:18:09.929> of
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precept and I think that's just one of
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precept and I think that's just one of
the<00:18:10.019> most<00:18:10.110> important<00:18:10.590> things<00:18:10.769> we<00:18:10.860> can
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the most important things we can
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the most important things we can
recognize<00:18:11.880> at<00:18:12.210> the<00:18:12.269> baseline<00:18:12.539> level<00:18:12.929> and<00:18:13.110> it
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recognize at the baseline level and it
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recognize at the baseline level and it
changes<00:18:13.799> certainly<00:18:14.309> the<00:18:14.789> way<00:18:14.940> you<00:18:15.000> do<00:18:15.269> think
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changes certainly the way you do think
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changes certainly the way you do think
about<00:18:15.630> citizenship<00:18:16.590> and<00:18:16.950> so<00:18:17.309> one<00:18:18.059> of<00:18:18.090> the
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about citizenship and so one of the
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about citizenship and so one of the
other<00:18:18.330> precepts<00:18:18.779> that<00:18:18.870> we<00:18:19.019> have<00:18:19.200> here<00:18:19.500> for<00:18:20.190> the
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other precepts that we have here for the
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other precepts that we have here for the
citizenship<00:18:21.029> section<00:18:21.419> of<00:18:21.480> the<00:18:21.570> book<00:18:21.750> is
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citizenship section of the book is
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citizenship section of the book is
simply<00:18:22.260> this<00:18:22.409> one<00:18:22.649> that<00:18:23.250> society<00:18:23.820> becomes<00:18:24.210> how
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simply this one that society becomes how
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simply this one that society becomes how
you<00:18:24.570> behave<00:18:25.639> okay<00:18:26.639> again<00:18:27.000> please<00:18:27.570> sit<00:18:28.049> with
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you behave okay again please sit with
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you behave okay again please sit with
that<00:18:28.200> for<00:18:28.350> just<00:18:28.590> a<00:18:28.710> second<00:18:29.120> because<00:18:30.120> our
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that for just a second because our
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that for just a second because our
prevailing<00:18:31.200> mythology<00:18:31.919> in<00:18:32.039> the<00:18:32.130> marketplace
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prevailing mythology in the marketplace
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prevailing mythology in the marketplace
and<00:18:32.909> in<00:18:33.090> public<00:18:33.419> life<00:18:33.539> generally<00:18:33.870> is<00:18:34.260> that<00:18:34.889> you
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and in public life generally is that you
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and in public life generally is that you
know<00:18:35.850> as<00:18:36.090> long<00:18:36.149> as<00:18:36.450> I'm<00:18:36.539> not<00:18:36.690> actively<00:18:37.019> hurting
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know as long as I'm not actively hurting
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know as long as I'm not actively hurting
anybody<00:18:37.740> else<00:18:37.919> I<00:18:38.070> should<00:18:38.130> be<00:18:38.220> able<00:18:38.340> to<00:18:38.460> do
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anybody else I should be able to do
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anybody else I should be able to do
whatever<00:18:38.700> the<00:18:38.880> heck<00:18:39.000> I<00:18:39.120> want<00:18:39.389> right<00:18:39.960> moreover
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whatever the heck I want right moreover
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whatever the heck I want right moreover
if<00:18:41.039> I'm<00:18:41.399> being<00:18:41.580> a<00:18:41.730> selfish<00:18:42.179> antisocial<00:18:42.659> jerk
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if I'm being a selfish antisocial jerk
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if I'm being a selfish antisocial jerk
in<00:18:43.289> this<00:18:43.740> in<00:18:43.950> the<00:18:44.039> big<00:18:44.159> scheme<00:18:44.340> of<00:18:44.399> things<00:18:44.549> my
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in this in the big scheme of things my
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in this in the big scheme of things my
my<00:18:45.539> jerkiness<00:18:46.080> is<00:18:46.320> going<00:18:46.470> to<00:18:46.529> get<00:18:46.649> cancelled
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my jerkiness is going to get cancelled
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my jerkiness is going to get cancelled
out<00:18:47.220> by<00:18:47.250> someone<00:18:47.700> else's<00:18:47.940> saintliness<00:18:48.360> right
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out by someone else's saintliness right
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out by someone else's saintliness right
and<00:18:49.470> it<00:18:49.860> all<00:18:50.010> kind<00:18:50.190> of<00:18:50.309> works<00:18:50.460> out<00:18:50.639> in<00:18:50.760> the<00:18:50.789> end
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and it all kind of works out in the end
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and it all kind of works out in the end
and<00:18:51.059> indeed<00:18:51.450> you<00:18:52.110> know<00:18:52.230> somehow<00:18:52.590> magically
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and indeed you know somehow magically
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and indeed you know somehow magically
all<00:18:53.429> believe<00:18:53.700> in<00:18:53.730> this<00:18:53.940> gospel<00:18:54.419> that<00:18:54.600> a
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all believe in this gospel that a
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all believe in this gospel that a
million<00:18:55.350> acts<00:18:55.679> of<00:18:55.950> raw<00:18:56.100> selfishness<00:18:56.610> and<00:18:56.909> self
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million acts of raw selfishness and self
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million acts of raw selfishness and self
seeking<00:18:57.419> add<00:18:57.809> up<00:18:58.049> to<00:18:58.260> a<00:18:58.289> common<00:18:58.649> good<00:18:58.850> right
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seeking add up to a common good right
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seeking add up to a common good right
that<00:19:00.360> is<00:19:00.570> the<00:19:00.720> prevailing<00:19:00.990> language<00:19:01.649> and<00:19:01.830> idea
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that is the prevailing language and idea
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that is the prevailing language and idea
of<00:19:02.279> things<00:19:02.549> and<00:19:02.850> it<00:19:02.970> gives<00:19:03.269> it<00:19:03.450> is<00:19:03.600> it<00:19:03.840> is
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of things and it gives it is it is
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of things and it gives it is it is
literally<00:19:04.620> and<00:19:04.740> figuratively<00:19:05.130> a
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literally and figuratively a
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literally and figuratively a
rationalization<00:19:06.059> right<00:19:07.019> it<00:19:07.200> tries<00:19:07.470> to<00:19:07.679> make
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rationalization right it tries to make
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rationalization right it tries to make
rational<00:19:08.070> sense<00:19:08.429> of<00:19:08.639> something<00:19:08.970> in<00:19:09.149> a<00:19:09.419> way
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rational sense of something in a way
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rational sense of something in a way
that<00:19:09.750> excuses<00:19:10.260> us<00:19:10.559> of<00:19:10.970> responsibility<00:19:11.970> and<00:19:12.090> I
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that excuses us of responsibility and I
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that excuses us of responsibility and I
think<00:19:12.870> one<00:19:13.049> of<00:19:13.080> the<00:19:13.200> things<00:19:13.260> that<00:19:13.529> we<00:19:13.740> came<00:19:13.980> to
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think one of the things that we came to
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think one of the things that we came to
recognize<00:19:14.370> in<00:19:14.970> thinking<00:19:15.240> about<00:19:15.360> citizenship
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recognize in thinking about citizenship
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recognize in thinking about citizenship
and<00:19:16.649> the<00:19:16.710> meaning<00:19:17.039> of<00:19:17.130> citizenship<00:19:17.730> is<00:19:17.940> this
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and the meaning of citizenship is this
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and the meaning of citizenship is this
our<00:19:19.950> idea<00:19:20.549> of<00:19:20.610> what<00:19:20.970> it<00:19:21.090> means<00:19:21.240> to<00:19:21.419> live<00:19:21.809> in
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our idea of what it means to live in
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our idea of what it means to live in
this<00:19:22.139> democracy<00:19:22.440> in<00:19:22.889> to<00:19:23.039> share<00:19:23.340> civic<00:19:23.639> life<00:19:24.029> is
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this democracy in to share civic life is
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this democracy in to share civic life is
not<00:19:25.320> one<00:19:25.649> in<00:19:25.830> which<00:19:25.860> you're<00:19:26.220> allowed<00:19:26.399> to<00:19:26.519> do
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not one in which you're allowed to do
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not one in which you're allowed to do
whatever<00:19:26.789> the<00:19:26.970> heck<00:19:27.090> you<00:19:27.120> want<00:19:27.360> and<00:19:27.659> it<00:19:28.019> is<00:19:28.139> not
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whatever the heck you want and it is not
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whatever the heck you want and it is not
one<00:19:28.500> in<00:19:28.620> which<00:19:28.649> we<00:19:28.889> are<00:19:29.010> mere<00:19:29.250> spectators<00:19:30.000> mere
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one in which we are mere spectators mere
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one in which we are mere spectators mere
customers<00:19:31.019> who<00:19:31.799> get<00:19:31.950> to<00:19:32.039> be<00:19:32.159> cranky<00:19:32.610> and<00:19:32.730> kick
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customers who get to be cranky and kick
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customers who get to be cranky and kick
that<00:19:33.059> vending<00:19:33.360> machine<00:19:33.720> or<00:19:33.960> get<00:19:34.080> to<00:19:34.169> be<00:19:34.289> grumpy
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that vending machine or get to be grumpy
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that vending machine or get to be grumpy
about<00:19:34.740> the<00:19:35.309> people<00:19:35.610> we<00:19:35.700> see<00:19:35.850> on<00:19:36.000> TV<00:19:36.389> called<00:19:36.659> our
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about the people we see on TV called our
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about the people we see on TV called our
leaders<00:19:37.370> right<00:19:38.370> that
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leaders right that
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leaders right that
citizenship<00:19:39.559> is<00:19:39.679> not<00:19:39.860> merely<00:19:40.250> that<00:19:40.400> kind<00:19:40.910> of
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citizenship is not merely that kind of
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citizenship is not merely that kind of
disengaged<00:19:42.070> consumer<00:19:43.070> hood<00:19:43.270> that
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disengaged consumer hood that
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disengaged consumer hood that
citizenship<00:19:44.809> great<00:19:45.500> citizenship<00:19:46.130> means
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citizenship great citizenship means
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citizenship great citizenship means
ownership<00:19:47.679> ownership<00:19:48.679> of<00:19:48.890> responsibility<00:19:49.790> of
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ownership ownership of responsibility of
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ownership ownership of responsibility of
every<00:19:50.660> aspect<00:19:51.200> of<00:19:51.350> how<00:19:51.530> society<00:19:52.100> works<00:19:52.130> and
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every aspect of how society works and
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every aspect of how society works and
when<00:19:53.510> you<00:19:53.630> see<00:19:53.900> the<00:19:54.080> world<00:19:54.260> through<00:19:54.470> the<00:19:54.890> kind
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when you see the world through the kind
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when you see the world through the kind
of<00:19:55.160> garden<00:19:55.460> brain<00:19:55.670> lens<00:19:55.970> and<00:19:56.240> see<00:19:56.480> it<00:19:56.630> as
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of garden brain lens and see it as
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of garden brain lens and see it as
complex<00:19:57.200> and<00:19:57.410> adaptive<00:19:57.920> and<00:19:58.070> see<00:19:58.309> us<00:19:58.490> as
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complex and adaptive and see us as
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complex and adaptive and see us as
network<00:19:59.150> and<00:19:59.420> see<00:19:59.630> us<00:19:59.780> as<00:19:59.990> incredibly
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network and see us as incredibly
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network and see us as incredibly
interdependent<00:20:01.549> it<00:20:02.179> changes<00:20:02.660> the<00:20:02.780> way<00:20:02.870> you
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interdependent it changes the way you
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interdependent it changes the way you
think<00:20:03.049> about<00:20:03.320> again<00:20:03.710> what<00:20:04.130> it<00:20:04.520> means<00:20:04.730> to<00:20:04.880> you
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think about again what it means to you
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think about again what it means to you
know<00:20:05.750> we<00:20:05.870> have<00:20:06.020> in<00:20:06.140> the<00:20:06.200> house<00:20:06.320> here<00:20:06.559> somebody
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know we have in the house here somebody
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know we have in the house here somebody
who<00:20:07.010> wrote<00:20:07.130> a<00:20:07.160> book<00:20:07.220> by<00:20:07.520> this<00:20:07.670> title<00:20:08.000> what<00:20:08.120> it
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who wrote a book by this title what it
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who wrote a book by this title what it
means<00:20:08.390> to<00:20:08.480> show<00:20:08.750> up<00:20:08.929> for<00:20:09.170> life<00:20:09.580> what<00:20:10.580> it<00:20:10.670> means
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means to show up for life what it means
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means to show up for life what it means
to<00:20:10.910> show<00:20:11.210> up<00:20:11.799> right<00:20:12.799> and<00:20:13.040> so<00:20:13.520> one<00:20:14.179> of<00:20:14.210> the
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to show up right and so one of the
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to show up right and so one of the
things<00:20:14.390> that<00:20:14.660> it<00:20:14.809> makes<00:20:14.929> you<00:20:15.080> realize<00:20:15.290> in
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things that it makes you realize in
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things that it makes you realize in
civic<00:20:16.190> life<00:20:16.400> is<00:20:17.270> that<00:20:17.720> there's<00:20:18.710> no<00:20:18.799> simple<00:20:19.309> way
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civic life is that there's no simple way
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civic life is that there's no simple way
in<00:20:19.820> this<00:20:20.240> kind<00:20:20.450> of<00:20:20.510> networked<00:20:20.929> web<00:20:21.200> to<00:20:21.860> disavow
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in this kind of networked web to disavow
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in this kind of networked web to disavow
even<00:20:22.790> the<00:20:22.850> smallest<00:20:23.120> kinds<00:20:23.480> of
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even the smallest kinds of
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even the smallest kinds of
responsibilities<00:20:24.290> some<00:20:24.470> of<00:20:24.559> you've<00:20:24.679> heard<00:20:24.830> me
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responsibilities some of you've heard me
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responsibilities some of you've heard me
say<00:20:25.190> this<00:20:25.220> but<00:20:25.549> the<00:20:25.790> other<00:20:25.910> a<00:20:26.179> month<00:20:27.110> or<00:20:27.230> two
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say this but the other a month or two
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say this but the other a month or two
ago<00:20:27.380> I<00:20:27.590> saw<00:20:27.860> this<00:20:28.010> great<00:20:28.340> great<00:20:28.700> billboard
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ago I saw this great great billboard
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ago I saw this great great billboard
someone<00:20:30.410> posted<00:20:30.830> on<00:20:30.980> Facebook<00:20:31.490> I'm<00:20:31.640> not<00:20:31.820> even
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someone posted on Facebook I'm not even
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someone posted on Facebook I'm not even
sure<00:20:32.030> it<00:20:32.210> might've<00:20:32.390> been<00:20:32.450> from<00:20:32.600> portland<00:20:33.020> OR
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sure it might've been from portland OR
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sure it might've been from portland OR
somewhere<00:20:33.340> and<00:20:34.340> it<00:20:34.460> was<00:20:34.549> a<00:20:34.580> billboard<00:20:34.790> on<00:20:35.090> the
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somewhere and it was a billboard on the
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somewhere and it was a billboard on the
side<00:20:35.299> of<00:20:35.360> some<00:20:35.630> very<00:20:35.809> congested<00:20:36.169> highway<00:20:36.650> and
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side of some very congested highway and
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side of some very congested highway and
it<00:20:37.669> reminded<00:20:38.090> folks<00:20:38.330> on<00:20:38.480> the<00:20:38.540> highway<00:20:38.840> it<00:20:39.020> said
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it reminded folks on the highway it said
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it reminded folks on the highway it said
you<00:20:40.130> are<00:20:40.220> not<00:20:40.250> stuck<00:20:40.640> in<00:20:40.820> traffic<00:20:41.210> you<00:20:41.870> are
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you are not stuck in traffic you are
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you are not stuck in traffic you are
traffic<00:20:49.030> which<00:20:50.030> is<00:20:50.179> a<00:20:50.210> pretty<00:20:50.450> good<00:20:50.720> way<00:20:50.900> of
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traffic which is a pretty good way of
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traffic which is a pretty good way of
rethinking<00:20:51.799> what<00:20:51.860> the<00:20:52.190> heck<00:20:52.309> we're<00:20:52.490> doing
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rethinking what the heck we're doing
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rethinking what the heck we're doing
right<00:20:53.240> you<00:20:54.230> don't<00:20:54.440> get<00:20:54.620> to<00:20:54.740> just<00:20:54.770> grouse<00:20:55.309> and
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right you don't get to just grouse and
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right you don't get to just grouse and
say<00:20:55.910> man<00:20:56.179> traffic<00:20:56.540> stinks<00:20:56.990> in<00:20:57.169> my<00:20:57.290> town<00:20:57.530> I'm<00:20:57.740> so
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say man traffic stinks in my town I'm so
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say man traffic stinks in my town I'm so
mad<00:20:58.220> and<00:20:58.549> that<00:20:58.940> leads<00:20:59.150> me<00:20:59.240> to<00:20:59.360> either<00:20:59.510> believe
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mad and that leads me to either believe
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mad and that leads me to either believe
we<00:21:00.110> ought<00:21:00.230> to<00:21:00.440> you<00:21:00.950> know<00:21:00.980> do<00:21:01.460> this
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we ought to you know do this
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we ought to you know do this
transportation<00:21:02.480> policy<00:21:02.870> or<00:21:02.960> that<00:21:03.140> policy<00:21:03.590> or
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transportation policy or that policy or
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transportation policy or that policy or
whatever<00:21:03.980> as<00:21:04.490> if<00:21:04.820> we<00:21:04.970> had<00:21:05.120> nothing<00:21:05.270> to<00:21:05.450> do<00:21:05.690> with
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whatever as if we had nothing to do with
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whatever as if we had nothing to do with
the<00:21:05.960> problem<00:21:06.290> as<00:21:06.440> if<00:21:07.040> we<00:21:07.190> weren't<00:21:07.460> in<00:21:07.610> fact<00:21:07.880> the
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the problem as if we weren't in fact the
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the problem as if we weren't in fact the
co-authors<00:21:08.660> of<00:21:08.870> the<00:21:09.590> problem<00:21:09.980> right<00:21:10.400> and<00:21:11.240> our
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co-authors of the problem right and our
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co-authors of the problem right and our
notion<00:21:12.049> of<00:21:12.110> citizenship<00:21:12.679> requires<00:21:13.400> that<00:21:14.240> you
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notion of citizenship requires that you
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notion of citizenship requires that you
recognize<00:21:14.870> that<00:21:14.900> society<00:21:15.770> becomes<00:21:16.130> how<00:21:16.400> you
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recognize that society becomes how you
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recognize that society becomes how you
behave<00:21:17.240> right<00:21:18.049> and<00:21:18.260> so<00:21:18.410> that<00:21:18.890> just<00:21:19.070> changes
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behave right and so that just changes
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behave right and so that just changes
the<00:21:19.460> way<00:21:19.610> you<00:21:19.640> think<00:21:19.730> about<00:21:19.880> things<00:21:20.030> on<00:21:20.270> my<00:21:20.360> way
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the way you think about things on my way
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the way you think about things on my way
over<00:21:20.510> here<00:21:20.840> you<00:21:21.440> know<00:21:21.559> it's<00:21:21.710> rush<00:21:21.890> hour<00:21:22.100> and
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over here you know it's rush hour and
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over here you know it's rush hour and
lots<00:21:22.610> of<00:21:22.700> people<00:21:22.880> are<00:21:22.940> trying<00:21:23.059> to<00:21:23.179> get<00:21:23.299> places
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lots of people are trying to get places
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lots of people are trying to get places
it's<00:21:23.840> the<00:21:23.929> holidays<00:21:24.380> and<00:21:24.710> you<00:21:25.070> know<00:21:25.160> at<00:21:25.250> one
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it's the holidays and you know at one
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it's the holidays and you know at one
intersection<00:21:25.790> people<00:21:26.480> are<00:21:26.540> trying<00:21:26.660> to<00:21:26.780> jam<00:21:27.080> in
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intersection people are trying to jam in
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intersection people are trying to jam in
a<00:21:27.320> little<00:21:27.679> bit<00:21:27.799> you<00:21:28.010> know<00:21:28.040> when<00:21:28.250> they
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a little bit you know when they
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a little bit you know when they
shouldn't<00:21:28.549> been<00:21:28.730> trying<00:21:28.940> to<00:21:29.000> jam<00:21:29.210> in<00:21:29.419> right
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shouldn't been trying to jam in right
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shouldn't been trying to jam in right
and<00:21:30.020> you<00:21:30.380> just<00:21:30.530> have<00:21:30.679> these<00:21:30.799> little<00:21:31.040> micro
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and you just have these little micro
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and you just have these little micro
choices<00:21:31.880> every<00:21:32.240> day<00:21:32.270> and<00:21:32.600> you<00:21:32.630> can<00:21:33.080> choose<00:21:33.290> in
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choices every day and you can choose in
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choices every day and you can choose in
that<00:21:33.530> moment<00:21:33.710> either<00:21:34.010> to<00:21:34.309> say<00:21:34.490> you<00:21:34.730> know<00:21:34.760> what
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that moment either to say you know what
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that moment either to say you know what
it's<00:21:35.179> a<00:21:35.270> dog-eat-dog<00:21:35.570> world<00:21:36.020> it's<00:21:36.710> 653<00:21:37.640> I'm
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it's a dog-eat-dog world it's 653 I'm
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it's a dog-eat-dog world it's 653 I'm
late<00:21:38.059> and<00:21:38.299> I'm<00:21:38.450> getting<00:21:38.750> there<00:21:38.870> right<00:21:39.230> and<00:21:39.500> I'm
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late and I'm getting there right and I'm
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late and I'm getting there right and I'm
going<00:21:39.799> to<00:21:39.830> cut<00:21:40.040> this<00:21:40.160> guy<00:21:40.340> off<00:21:40.370> and<00:21:41.049> in<00:21:42.049> machine
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going to cut this guy off and in machine
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going to cut this guy off and in machine
brain<00:21:42.919> you<00:21:43.130> think<00:21:43.370> well<00:21:43.610> hey<00:21:43.850> that's<00:21:44.360> selfish
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brain you think well hey that's selfish
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brain you think well hey that's selfish
and<00:21:45.080> rational<00:21:45.590> and<00:21:45.770> to<00:21:46.040> be<00:21:46.160> rewarded<00:21:46.640> and<00:21:46.790> be
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and rational and to be rewarded and be
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and rational and to be rewarded and be
even<00:21:48.020> if<00:21:48.140> it<00:21:48.260> kind<00:21:48.470> of<00:21:48.500> hurts<00:21:48.679> that<00:21:48.830> guy's
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even if it kind of hurts that guy's
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even if it kind of hurts that guy's
feelings<00:21:49.220> it'll<00:21:49.790> all<00:21:49.910> wash<00:21:50.120> out<00:21:50.390> right<00:21:50.720> it<00:21:50.809> all
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feelings it'll all wash out right it all
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feelings it'll all wash out right it all
come<00:21:51.050> out<00:21:51.140> and<00:21:51.260> wash
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come out and wash
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come out and wash
our<00:21:52.500> view<00:21:53.190> is<00:21:53.220> that<00:21:53.429> this<00:21:54.390> kind<00:21:54.600> of<00:21:54.690> behavior
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our view is that this kind of behavior
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our view is that this kind of behavior
is<00:21:56.250> contagious<00:21:56.760> and<00:21:57.210> so<00:21:57.900> if<00:21:58.020> you<00:21:58.140> are
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is contagious and so if you are
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is contagious and so if you are
discourteous<00:21:58.679> in<00:21:59.010> traffic<00:21:59.400> guess<00:21:59.580> what's
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discourteous in traffic guess what's
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discourteous in traffic guess what's
what<00:22:00.240> happens<00:22:00.539> that<00:22:01.320> guy<00:22:01.559> who<00:22:01.890> I've<00:22:02.010> just<00:22:02.220> cut
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what happens that guy who I've just cut
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what happens that guy who I've just cut
off<00:22:02.610> decides<00:22:03.120> he<00:22:03.929> gets<00:22:04.140> infected<00:22:04.500> he<00:22:05.490> decides
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off decides he gets infected he decides
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off decides he gets infected he decides
next<00:22:06.210> time<00:22:06.360> around<00:22:06.480> it<00:22:06.780> might<00:22:06.929> be<00:22:07.080> next<00:22:07.320> week
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next time around it might be next week
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next time around it might be next week
it<00:22:07.710> might<00:22:07.740> be<00:22:07.980> in<00:22:08.070> five<00:22:08.280> minutes<00:22:08.580> that<00:22:08.940> the
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it might be in five minutes that the
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it might be in five minutes that the
next<00:22:09.210> opportunity<00:22:09.390> he<00:22:09.809> gets<00:22:10.020> he's<00:22:10.409> going<00:22:10.590> to
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next opportunity he gets he's going to
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next opportunity he gets he's going to
pass<00:22:10.919> on<00:22:11.159> just<00:22:11.610> that<00:22:11.760> same<00:22:11.970> kind<00:22:12.210> of<00:22:12.240> behavior
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pass on just that same kind of behavior
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pass on just that same kind of behavior
he's<00:22:13.380> going<00:22:13.500> to<00:22:13.590> cut<00:22:13.770> off<00:22:13.799> the<00:22:13.919> next<00:22:14.280> guy<00:22:14.429> in
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he's going to cut off the next guy in
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he's going to cut off the next guy in
traffic<00:22:14.909> he's<00:22:15.030> going<00:22:15.179> to<00:22:15.240> be<00:22:15.330> discourteous
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traffic he's going to be discourteous
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traffic he's going to be discourteous
right<00:22:16.500> and<00:22:16.679> this<00:22:17.039> may<00:22:17.190> seem<00:22:17.250> like<00:22:17.520> a<00:22:17.700> very
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right and this may seem like a very
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right and this may seem like a very
simple<00:22:18.240> homespun<00:22:18.690> example<00:22:19.500> of<00:22:19.620> courtesy<00:22:20.190> and
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simple homespun example of courtesy and
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simple homespun example of courtesy and
civility<00:22:20.400> and<00:22:21.360> something<00:22:21.630> like<00:22:21.659> traffic<00:22:22.049> but
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civility and something like traffic but
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civility and something like traffic but
it<00:22:23.070> is<00:22:23.250> in<00:22:23.520> the<00:22:23.850> fractal<00:22:24.450> way<00:22:24.659> that<00:22:24.990> all<00:22:25.200> of
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it is in the fractal way that all of
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it is in the fractal way that all of
these<00:22:25.470> systems<00:22:25.740> interact<00:22:26.309> that<00:22:26.700> we've<00:22:26.820> been
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these systems interact that we've been
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these systems interact that we've been
describing<00:22:27.210> it<00:22:27.659> is<00:22:28.080> a<00:22:28.110> perfect<00:22:28.380> little<00:22:28.650> emblem
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describing it is a perfect little emblem
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describing it is a perfect little emblem
for<00:22:29.400> the<00:22:29.580> larger<00:22:29.880> point<00:22:30.000> we're<00:22:30.210> trying<00:22:30.240> to
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for the larger point we're trying to
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for the larger point we're trying to
make<00:22:30.630> if<00:22:30.870> you<00:22:31.409> choose<00:22:31.679> to<00:22:31.860> be<00:22:31.950> discourteous<00:22:32.280> in
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make if you choose to be discourteous in
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make if you choose to be discourteous in
traffic<00:22:32.940> society<00:22:33.720> becomes<00:22:34.049> discourteous<00:22:34.500> if
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traffic society becomes discourteous if
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traffic society becomes discourteous if
you<00:22:36.030> choose<00:22:36.299> to<00:22:36.450> be<00:22:36.570> civil<00:22:36.929> or<00:22:37.110> uncivil<00:22:37.890> in<00:22:38.220> a
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you choose to be civil or uncivil in a
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you choose to be civil or uncivil in a
public<00:22:38.940> gathering<00:22:39.080> society<00:22:40.080> becomes<00:22:40.409> civil
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public gathering society becomes civil
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public gathering society becomes civil
or<00:22:40.890> uncivil<00:22:41.610> if<00:22:42.360> you<00:22:42.539> choose<00:22:42.750> to<00:22:42.900> be
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or uncivil if you choose to be
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or uncivil if you choose to be
compassionate<00:22:43.380> as<00:22:43.770> you<00:22:44.159> walk<00:22:44.370> past<00:22:44.610> someone
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compassionate as you walk past someone
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compassionate as you walk past someone
or<00:22:45.960> walk<00:22:46.200> a<00:22:46.230> come<00:22:46.860> upon<00:22:47.100> someone<00:22:47.370> in<00:22:47.610> pain
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or walk a come upon someone in pain
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or walk a come upon someone in pain
society<00:22:48.539> becomes<00:22:49.260> compassionate<00:22:50.070> or<00:22:50.159> not
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society becomes compassionate or not
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society becomes compassionate or not
right<00:22:51.570> and<00:22:52.070> life<00:22:53.070> on<00:22:53.340> a<00:22:53.370> network<00:22:53.640> like<00:22:54.000> this<00:22:54.270> in
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right and life on a network like this in
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right and life on a network like this in
this<00:22:54.630> entwined<00:22:55.080> complex<00:22:55.620> system<00:22:56.010> on<00:22:56.880> the<00:22:57.030> one
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this entwined complex system on the one
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this entwined complex system on the one
hand<00:22:57.390> you<00:22:57.570> might<00:22:57.780> think<00:22:57.990> as<00:22:58.260> a<00:22:58.530> matter<00:22:58.890> of
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hand you might think as a matter of
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hand you might think as a matter of
citizenship<00:22:59.549> that<00:23:00.480> boy<00:23:00.750> this<00:23:01.020> is<00:23:01.049> a<00:23:01.140> very
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citizenship that boy this is a very
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citizenship that boy this is a very
disempowering<00:23:01.620> thing<00:23:02.280> right<00:23:02.549> I<00:23:02.580> mean<00:23:02.880> we're
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disempowering thing right I mean we're
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disempowering thing right I mean we're
just<00:23:03.390> little<00:23:03.750> nodes<00:23:04.080> and<00:23:04.289> a<00:23:04.380> network<00:23:04.710> and
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just little nodes and a network and
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just little nodes and a network and
we're<00:23:05.100> all<00:23:05.250> part<00:23:05.490> of<00:23:05.549> the<00:23:05.640> Borg<00:23:05.880> kind<00:23:06.299> of
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we're all part of the Borg kind of
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we're all part of the Borg kind of
collective<00:23:06.840> and<00:23:07.140> you<00:23:07.260> know<00:23:07.350> no<00:23:07.530> one<00:23:07.679> has<00:23:07.799> free
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collective and you know no one has free
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collective and you know no one has free
will<00:23:08.250> that's<00:23:09.030> not<00:23:09.270> true<00:23:09.510> at<00:23:09.539> all<00:23:09.750> our<00:23:09.990> view
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will that's not true at all our view
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will that's not true at all our view
about<00:23:11.010> the<00:23:11.280> power<00:23:11.730> of<00:23:11.909> citizenship<00:23:12.480> in<00:23:12.659> this
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about the power of citizenship in this
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about the power of citizenship in this
interdependent<00:23:13.559> networked<00:23:13.919> world<00:23:14.190> is<00:23:14.490> that
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interdependent networked world is that
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interdependent networked world is that
it<00:23:15.120> gives<00:23:15.270> incredible<00:23:15.480> power<00:23:16.470> to<00:23:17.130> each
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it gives incredible power to each
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it gives incredible power to each
individual<00:23:17.940> incredible<00:23:18.809> power<00:23:18.990> and
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individual incredible power and
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individual incredible power and
responsibility<00:23:19.950> to<00:23:20.039> each<00:23:20.190> of<00:23:20.370> us<00:23:20.490> to<00:23:20.549> set<00:23:21.360> off
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responsibility to each of us to set off
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responsibility to each of us to set off
cascades<00:23:22.260> to<00:23:22.860> set<00:23:23.130> off<00:23:23.309> contagions<00:23:24.030> of
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cascades to set off contagions of
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cascades to set off contagions of
behavior<00:23:24.750> right<00:23:25.650> and<00:23:25.890> that<00:23:26.460> civic<00:23:26.850> life<00:23:27.090> long
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behavior right and that civic life long
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behavior right and that civic life long
before<00:23:28.470> you<00:23:28.679> get<00:23:28.860> to<00:23:29.070> how<00:23:29.309> a<00:23:29.340> bill<00:23:29.640> becomes<00:23:29.760> a
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before you get to how a bill becomes a
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before you get to how a bill becomes a
law<00:23:30.150> right<00:23:31.140> long<00:23:31.409> before<00:23:31.799> you<00:23:31.950> get<00:23:32.070> to<00:23:32.190> the
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law right long before you get to the
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law right long before you get to the
machinery<00:23:32.789> of<00:23:32.909> politics<00:23:33.630> that<00:23:33.809> people<00:23:34.110> are
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machinery of politics that people are
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machinery of politics that people are
taught<00:23:34.710> or<00:23:34.919> not<00:23:35.190> even<00:23:35.429> so<00:23:35.580> much<00:23:35.610> anymore
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taught or not even so much anymore
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taught or not even so much anymore
taught<00:23:36.330> in<00:23:36.539> civics<00:23:36.900> classes<00:23:37.110> you<00:23:37.860> know<00:23:37.980> is<00:23:38.220> a
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taught in civics classes you know is a
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taught in civics classes you know is a
whole<00:23:39.210> set<00:23:39.600> of<00:23:39.870> ethical<00:23:40.400> understandings<00:23:41.400> of
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whole set of ethical understandings of
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whole set of ethical understandings of
how<00:23:41.549> to<00:23:41.789> be<00:23:42.270> and<00:23:42.570> how<00:23:42.870> to<00:23:42.929> be<00:23:43.200> together<00:23:43.440> and
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how to be and how to be together and
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how to be and how to be together and
that<00:23:45.030> understanding<00:23:45.570> in<00:23:46.080> our<00:23:46.200> view<00:23:46.440> is
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that understanding in our view is
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that understanding in our view is
completely<00:23:47.070> transformed<00:23:47.760> when<00:23:47.940> you<00:23:48.030> think
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completely transformed when you think
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completely transformed when you think
about<00:23:48.330> things<00:23:48.860> through<00:23:49.860> this<00:23:50.010> lens<00:23:50.250> and
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about things through this lens and
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about things through this lens and
because<00:23:52.049> of<00:23:52.080> that<00:23:52.230> and<00:23:52.590> in<00:23:53.400> the<00:23:53.490> same<00:23:53.700> ways<00:23:54.030> our
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because of that and in the same ways our
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because of that and in the same ways our
notions<00:23:54.900> then<00:23:55.110> of<00:23:55.350> how<00:23:55.380> we<00:23:55.559> interact<00:23:55.950> with<00:23:56.220> one
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notions then of how we interact with one
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notions then of how we interact with one
another<00:23:56.429> not<00:23:56.850> only<00:23:57.179> as<00:23:57.299> citizens<00:23:57.780> and<00:23:58.049> fellow
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another not only as citizens and fellow
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another not only as citizens and fellow
members<00:23:58.890> of<00:23:58.919> acidic<00:23:59.370> body<00:23:59.580> but<00:24:00.210> as<00:24:00.330> economic
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members of acidic body but as economic
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members of acidic body but as economic
actors<00:24:01.320> as<00:24:01.530> participants<00:24:02.340> in<00:24:02.549> a<00:24:02.610> great
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actors as participants in a great
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actors as participants in a great
economy<00:24:03.390> that<00:24:03.809> changes<00:24:04.260> as<00:24:04.380> well<00:24:04.559> and<00:24:04.770> that's
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economy that changes as well and that's
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economy that changes as well and that's
that's<00:24:06.050> the<00:24:06.860> next<00:24:07.040> oh<00:24:07.430> one<00:24:08.180> other<00:24:08.270> point<00:24:08.480> I
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that's the next oh one other point I
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that's the next oh one other point I
just<00:24:08.630> want<00:24:08.810> to<00:24:08.960> make<00:24:09.770> about<00:24:09.950> this<00:24:10.220> slide<00:24:10.400> here
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just want to make about this slide here
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just want to make about this slide here
about<00:24:11.300> traffic<00:24:13.300> this<00:24:14.300> little<00:24:14.510> graphic<00:24:14.750> here
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about traffic this little graphic here
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about traffic this little graphic here
depicts<00:24:15.500> the<00:24:16.010> simple<00:24:16.370> fact<00:24:16.640> that<00:24:16.760> there<00:24:17.000> is
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depicts the simple fact that there is
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depicts the simple fact that there is
something<00:24:17.240> counterintuitive<00:24:17.690> about<00:24:18.320> the
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something counterintuitive about the
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something counterintuitive about the
idea<00:24:18.770> that<00:24:18.860> in<00:24:19.250> order<00:24:19.490> to<00:24:19.700> advance<00:24:19.880> you<00:24:20.660> should
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idea that in order to advance you should
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idea that in order to advance you should
yield<00:24:21.340> right<00:24:22.340> that<00:24:23.330> when<00:24:23.660> you<00:24:23.930> yield<00:24:24.350> in
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yield right that when you yield in
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yield right that when you yield in
traffic<00:24:25.160> for<00:24:25.190> instance<00:24:25.640> it<00:24:25.820> may<00:24:25.910> feel<00:24:26.150> like
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traffic for instance it may feel like
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traffic for instance it may feel like
you're<00:24:26.900> a<00:24:26.930> sucker<00:24:27.350> or<00:24:27.620> you're<00:24:27.950> a<00:24:27.980> loser<00:24:28.340> right
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you're a sucker or you're a loser right
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you're a sucker or you're a loser right
but<00:24:30.080> in<00:24:30.230> fact<00:24:30.440> what<00:24:30.620> happens<00:24:31.010> in<00:24:31.220> the
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but in fact what happens in the
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but in fact what happens in the
aggregate<00:24:31.670> for<00:24:31.970> all<00:24:32.090> of<00:24:32.270> us<00:24:32.330> is<00:24:32.540> that<00:24:32.600> traffic
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aggregate for all of us is that traffic
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aggregate for all of us is that traffic
moves<00:24:33.440> along<00:24:33.680> better<00:24:33.980> and<00:24:34.160> that<00:24:34.790> we<00:24:35.000> as<00:24:35.120> a
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moves along better and that we as a
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moves along better and that we as a
society<00:24:35.360> advanced<00:24:36.170> more<00:24:36.470> quickly<00:24:36.700> right<00:24:37.700> and
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society advanced more quickly right and
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society advanced more quickly right and
it<00:24:38.390> is<00:24:38.510> the<00:24:38.660> sum<00:24:38.960> of<00:24:38.990> these<00:24:39.320> little<00:24:39.500> choices
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it is the sum of these little choices
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it is the sum of these little choices
counterintuitive<00:24:41.000> as<00:24:41.240> they<00:24:41.360> may<00:24:41.510> feel<00:24:41.750> and<00:24:42.020> as
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counterintuitive as they may feel and as
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counterintuitive as they may feel and as
unsatisfying<00:24:42.860> to<00:24:43.430> our<00:24:43.550> road<00:24:43.790> rage<00:24:44.060> hormones
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unsatisfying to our road rage hormones
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unsatisfying to our road rage hormones
and<00:24:44.990> emotions<00:24:45.670> that<00:24:46.670> yielding<00:24:47.180> leads<00:24:47.690> to
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and emotions that yielding leads to
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and emotions that yielding leads to
advance<00:24:48.230> I<00:24:48.530> think<00:24:49.040> that's<00:24:49.190> one<00:24:49.370> central
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advance I think that's one central
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advance I think that's one central
precept<00:24:50.290> I<00:24:51.290> just<00:24:52.070> wanted<00:24:52.340> to<00:24:52.370> underscore<00:24:52.760> or
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precept I just wanted to underscore or
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precept I just wanted to underscore or
emphasize<00:24:54.350> a<00:24:54.740> point<00:24:55.700> that<00:24:57.070> there<00:24:58.070> I<00:24:58.400> think
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emphasize a point that there I think
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emphasize a point that there I think
Eric<00:24:59.270> didn't<00:24:59.600> make<00:24:59.810> which<00:25:00.170> is<00:25:00.200> that<00:25:00.650> our
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Eric didn't make which is that our
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Eric didn't make which is that our
argument<00:25:02.360> our<00:25:02.590> fundamental<00:25:03.590> argument<00:25:03.710> in
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argument our fundamental argument in
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argument our fundamental argument in
this<00:25:04.130> book<00:25:04.370> is<00:25:04.400> that<00:25:04.760> these<00:25:04.910> that<00:25:05.570> the
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this book is that these that the
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this book is that these that the
assertions<00:25:06.980> that<00:25:07.100> Erika<00:25:07.550> made<00:25:07.900> aren't<00:25:09.070> aren't
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assertions that Erika made aren't aren't
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assertions that Erika made aren't aren't
matters<00:25:10.550> of<00:25:10.820> opinion<00:25:11.630> or<00:25:12.280> feeling<00:25:13.300> what<00:25:14.300> we
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matters of opinion or feeling what we
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matters of opinion or feeling what we
are<00:25:14.480> asserting<00:25:14.780> the<00:25:15.140> reason<00:25:15.440> we<00:25:15.530> wrote<00:25:15.710> the
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are asserting the reason we wrote the
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are asserting the reason we wrote the
book<00:25:16.040> is<00:25:16.220> that<00:25:16.280> we<00:25:17.060> believe<00:25:17.360> these<00:25:17.570> are
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book is that we believe these are
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book is that we believe these are
matters<00:25:17.960> of<00:25:18.170> fact<00:25:18.850> that<00:25:19.850> that<00:25:20.030> the<00:25:20.360> in<00:25:20.690> fact<00:25:21.670> we
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matters of fact that that the in fact we
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matters of fact that that the in fact we
are<00:25:22.700> networked<00:25:23.210> in<00:25:23.590> fact<00:25:24.590> our<00:25:25.040> behaviors<00:25:25.820> are
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are networked in fact our behaviors are
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are networked in fact our behaviors are
contagious<00:25:26.420> in<00:25:26.980> fact<00:25:29.140> society<00:25:30.140> becomes<00:25:30.440> how
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contagious in fact society becomes how
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contagious in fact society becomes how
you<00:25:30.650> behave<00:25:31.010> and<00:25:31.790> and<00:25:32.360> and<00:25:32.630> and<00:25:33.110> that<00:25:33.770> there<00:25:34.040> is
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you behave and and and and that there is
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you behave and and and and that there is
this<00:25:34.900> overwhelming<00:25:35.900> body<00:25:36.320> of<00:25:37.450> scientific
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this overwhelming body of scientific
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this overwhelming body of scientific
work<00:25:38.960> and<00:25:39.560> mathematical<00:25:40.280> work<00:25:40.460> over<00:25:40.730> the<00:25:40.820> last
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work and mathematical work over the last
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work and mathematical work over the last
forty<00:25:41.330> years<00:25:41.360> which<00:25:41.930> which<00:25:42.460> informs<00:25:43.840> this
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forty years which which informs this
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forty years which which informs this
view<00:25:45.200> and<00:25:45.500> that<00:25:46.250> it<00:25:46.700> is<00:25:46.760> this<00:25:47.060> tidal<00:25:47.450> wave<00:25:47.810> of
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view and that it is this tidal wave of
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view and that it is this tidal wave of
it<00:25:49.310> you<00:25:49.700> know<00:25:49.730> this<00:25:50.000> is<00:25:50.030> completely<00:25:50.630> new<00:25:51.260> way
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it you know this is completely new way
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it you know this is completely new way
of<00:25:51.470> understanding<00:25:51.920> how<00:25:52.400> the<00:25:52.460> world<00:25:52.670> works
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of understanding how the world works
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of understanding how the world works
that<00:25:53.690> that<00:25:54.080> should<00:25:54.440> jolt<00:25:54.980> us<00:25:55.190> into<00:25:55.220> these<00:25:55.760> new
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that that should jolt us into these new
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that that should jolt us into these new
ways<00:25:56.240> of<00:25:56.540> understanding<00:25:56.720> how<00:25:57.500> how<00:25:58.190> how<00:25:58.700> the
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ways of understanding how how how the
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ways of understanding how how how the
world<00:25:59.600> fits<00:25:59.810> together<00:26:01.960> you<00:26:02.960> know<00:26:03.080> the<00:26:03.380> way<00:26:03.500> in
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world fits together you know the way in
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world fits together you know the way in
which<00:26:03.770> we<00:26:03.800> sum<00:26:04.160> up<00:26:04.190> our<00:26:04.460> view<00:26:04.820> of<00:26:05.120> how<00:26:05.390> the
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which we sum up our view of how the
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which we sum up our view of how the
economy<00:26:05.780> works<00:26:06.020> is<00:26:06.920> here<00:26:07.510> it's<00:26:08.510> obviously
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economy works is here it's obviously
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economy works is here it's obviously
this<00:26:08.990> is<00:26:09.140> obviously<00:26:09.260> a<00:26:10.180> very<00:26:11.180> different<00:26:11.660> from
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this is obviously a very different from
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this is obviously a very different from
the<00:26:11.900> story<00:26:12.140> that<00:26:12.380> we<00:26:12.530> have<00:26:13.070> been<00:26:13.190> told<00:26:13.400> about
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the story that we have been told about
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the story that we have been told about
the<00:26:13.880> economy<00:26:14.120> over<00:26:14.390> the<00:26:14.450> last<00:26:14.540> 40<00:26:14.870> years<00:26:14.900> which
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the economy over the last 40 years which
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the economy over the last 40 years which
is<00:26:15.940> if<00:26:16.940> a<00:26:17.090> few<00:26:17.240> people<00:26:17.300> are<00:26:17.600> better<00:26:17.780> off
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is if a few people are better off
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is if a few people are better off
a<00:26:18.789> you<00:26:19.789> know<00:26:19.909> maybe<00:26:20.269> some<00:26:20.600> of<00:26:20.720> the<00:26:20.809> rest<00:26:21.440> of<00:26:21.559> us
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a you know maybe some of the rest of us
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a you know maybe some of the rest of us
will<00:26:21.799> be<00:26:21.860> but<00:26:22.549> I<00:26:24.909> you<00:26:25.909> know<00:26:25.940> the<00:26:26.210> the<00:26:26.600> ascent
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will be but I you know the the ascent
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will be but I you know the the ascent
the<00:26:27.139> essential<00:26:28.269> lesson<00:26:29.269> that<00:26:29.570> these<00:26:30.009> that
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the essential lesson that these that
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the essential lesson that these that
understanding<00:26:31.610> the<00:26:32.299> economy<00:26:32.720> is<00:26:32.809> an
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understanding the economy is an
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understanding the economy is an
ecosystem<00:26:33.649> teaches<00:26:34.309> you<00:26:34.460> is<00:26:34.490> that<00:26:34.940> we're<00:26:35.480> all
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ecosystem teaches you is that we're all
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ecosystem teaches you is that we're all
better<00:26:35.809> off<00:26:35.870> from<00:26:36.139> we're<00:26:36.289> all<00:26:36.409> better<00:26:36.590> off
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better off from we're all better off
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better off from we're all better off
that<00:26:37.730> that<00:26:38.419> for<00:26:38.870> a<00:26:39.230> very<00:26:39.919> long<00:26:40.190> time<00:26:40.720> economies
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that that for a very long time economies
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that that for a very long time economies
have<00:26:41.870> been<00:26:42.019> understood<00:26:42.440> mechanistically<00:26:43.370> and
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have been understood mechanistically and
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have been understood mechanistically and
linearly<00:26:44.029> and<00:26:44.480> and<00:26:45.049> in<00:26:45.500> those<00:26:46.100> metaphors
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linearly and and in those metaphors
00:26:46.490 --> 00:26:51.460 align:start position:0%
linearly and and in those metaphors
permit<00:26:47.299> you<00:26:47.899> to<00:26:47.929> believe<00:26:48.769> and<00:26:49.429> and<00:26:50.000> and<00:26:50.450> make<00:26:51.440> a
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permit you to believe and and and make a
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permit you to believe and and and make a
very<00:26:51.710> persuasive<00:26:52.720> case<00:26:53.720> for<00:26:54.649> some<00:26:55.429> turn<00:26:56.389> out
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very persuasive case for some turn out
00:26:56.509 --> 00:27:03.070 align:start position:0%
very persuasive case for some turn out
to<00:26:56.629> be<00:26:56.720> some<00:26:56.899> very<00:26:57.110> very<00:26:57.259> crazy<00:26:57.559> things<00:27:00.460> so<00:27:02.080> at
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to be some very very crazy things so at
00:27:03.080 --> 00:27:04.690 align:start position:0%
to be some very very crazy things so at
the<00:27:03.409> core<00:27:03.679> of<00:27:03.710> that<00:27:04.100> mechanistic
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the core of that mechanistic
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the core of that mechanistic
understanding<00:27:04.820> is<00:27:05.600> is<00:27:05.840> what's<00:27:06.649> called<00:27:06.830> the
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understanding is is what's called the
00:27:06.980 --> 00:27:10.060 align:start position:0%
understanding is is what's called the
efficient<00:27:07.490> market<00:27:07.850> hypothesis<00:27:08.620> the<00:27:09.620> Chicago
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efficient market hypothesis the Chicago
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efficient market hypothesis the Chicago
School<00:27:10.929> understanding<00:27:11.929> of<00:27:12.019> how<00:27:12.139> the<00:27:12.169> economy
00:27:12.580 --> 00:27:12.590 align:start position:0%
School understanding of how the economy
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School understanding of how the economy
works<00:27:12.830> and<00:27:13.250> it<00:27:13.480> literally<00:27:14.480> is<00:27:14.690> the<00:27:14.809> assertion
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works and it literally is the assertion
00:27:15.169 --> 00:27:17.169 align:start position:0%
works and it literally is the assertion
that<00:27:15.379> the<00:27:15.620> economy<00:27:15.950> is<00:27:16.159> this<00:27:16.490> perfectly
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that the economy is this perfectly
00:27:17.179 --> 00:27:19.799 align:start position:0%
that the economy is this perfectly
efficient<00:27:17.899> mechanistic<00:27:18.559> sort<00:27:19.460> of<00:27:19.549> thing
00:27:19.799 --> 00:27:19.809 align:start position:0%
efficient mechanistic sort of thing
00:27:19.809 --> 00:27:23.710 align:start position:0%
efficient mechanistic sort of thing
where<00:27:20.809> where<00:27:21.710> every<00:27:22.129> transaction<00:27:22.730> is<00:27:23.149> is<00:27:23.389> this
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where where every transaction is is this
00:27:23.720 --> 00:27:26.019 align:start position:0%
where where every transaction is is this
sort<00:27:23.960> of<00:27:24.049> perfectly<00:27:24.860> efficient<00:27:25.370> transaction
00:27:26.019 --> 00:27:26.029 align:start position:0%
sort of perfectly efficient transaction
00:27:26.029 --> 00:27:27.340 align:start position:0%
sort of perfectly efficient transaction
and<00:27:26.210> there's<00:27:26.360> all<00:27:26.629> sorts<00:27:26.929> of<00:27:26.990> ways<00:27:27.169> to
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and there's all sorts of ways to
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and there's all sorts of ways to
understand<00:27:27.710> how<00:27:27.799> crazy<00:27:28.039> that<00:27:28.220> is<00:27:28.279> but<00:27:28.610> one<00:27:28.820> of
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understand how crazy that is but one of
00:27:28.940 --> 00:27:31.119 align:start position:0%
understand how crazy that is but one of
the<00:27:29.000> ways<00:27:29.120> in<00:27:29.360> which<00:27:30.049> to<00:27:30.230> best<00:27:30.529> understand<00:27:31.009> it
00:27:31.119 --> 00:27:31.129 align:start position:0%
the ways in which to best understand it
00:27:31.129 --> 00:27:33.639 align:start position:0%
the ways in which to best understand it
is<00:27:31.279> is<00:27:31.519> to<00:27:31.879> is<00:27:32.029> is<00:27:32.509> to<00:27:32.990> reflect<00:27:33.320> on<00:27:33.409> the<00:27:33.529> fact
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is is to is is to reflect on the fact
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is is to is is to reflect on the fact
that<00:27:33.799> after<00:27:34.039> this<00:27:34.309> crash<00:27:34.789> in<00:27:35.029> two<00:27:35.149> thousand
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that after this crash in two thousand
00:27:35.509 --> 00:27:38.830 align:start position:0%
that after this crash in two thousand
seven<00:27:35.629> and<00:27:35.899> eight<00:27:35.960> the<00:27:36.950> you<00:27:37.940> know<00:27:38.059> the<00:27:38.389> the
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seven and eight the you know the the
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seven and eight the you know the the
federal<00:27:39.110> government<00:27:39.440> the<00:27:39.470> United<00:27:39.649> States<00:27:39.889> got
00:27:40.149 --> 00:27:40.159 align:start position:0%
federal government the United States got
00:27:40.159 --> 00:27:41.440 align:start position:0%
federal government the United States got
the<00:27:40.250> smartest<00:27:40.610> economist<00:27:41.029> in<00:27:41.090> the<00:27:41.149> country
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the smartest economist in the country
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the smartest economist in the country
together<00:27:41.570> in<00:27:41.899> a<00:27:41.960> room<00:27:42.139> to<00:27:42.980> try<00:27:43.100> to<00:27:43.220> figure<00:27:43.370> out
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together in a room to try to figure out
00:27:43.490 --> 00:27:45.970 align:start position:0%
together in a room to try to figure out
what<00:27:43.700> went<00:27:43.850> wrong<00:27:43.940> and<00:27:44.450> and<00:27:45.169> when<00:27:45.860> they
00:27:45.970 --> 00:27:45.980 align:start position:0%
what went wrong and and when they
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what went wrong and and when they
started<00:27:46.370> to<00:27:46.519> look<00:27:46.639> at<00:27:46.789> what's<00:27:47.000> called<00:27:47.179> the
00:27:47.350 --> 00:27:47.360 align:start position:0%
started to look at what's called the
00:27:47.360 --> 00:27:49.899 align:start position:0%
started to look at what's called the
general<00:27:47.779> stochastic<00:27:48.610> equilibrium<00:27:49.610> model
00:27:49.899 --> 00:27:49.909 align:start position:0%
general stochastic equilibrium model
00:27:49.909 --> 00:27:51.610 align:start position:0%
general stochastic equilibrium model
that<00:27:50.090> the<00:27:50.179> government<00:27:50.539> uses<00:27:50.690> to<00:27:50.929> predict<00:27:51.350> what
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that the government uses to predict what
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that the government uses to predict what
will<00:27:51.740> happen<00:27:52.720> one<00:27:53.720> of<00:27:53.750> the<00:27:53.899> shocking<00:27:54.620> things
00:27:54.909 --> 00:27:54.919 align:start position:0%
will happen one of the shocking things
00:27:54.919 --> 00:27:58.210 align:start position:0%
will happen one of the shocking things
that<00:27:56.110> people<00:27:57.110> finally<00:27:57.440> came<00:27:57.710> to<00:27:57.830> terms<00:27:57.860> with
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that people finally came to terms with
00:27:58.220 --> 00:28:02.889 align:start position:0%
that people finally came to terms with
was<00:27:58.580> that<00:28:00.070> there<00:28:01.070> were<00:28:01.250> there<00:28:02.000> were<00:28:02.179> no<00:28:02.450> banks
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was that there were there were no banks
00:28:02.899 --> 00:28:06.009 align:start position:0%
was that there were there were no banks
in<00:28:03.049> that<00:28:03.200> model<00:28:03.759> you<00:28:04.759> say<00:28:04.970> how<00:28:05.570> could<00:28:05.779> it<00:28:05.870> be
00:28:06.009 --> 00:28:06.019 align:start position:0%
in that model you say how could it be
00:28:06.019 --> 00:28:07.899 align:start position:0%
in that model you say how could it be
how<00:28:06.320> could<00:28:06.559> the<00:28:06.649> government<00:28:06.769> have<00:28:07.190> a<00:28:07.429> model<00:28:07.759> of
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how could the government have a model of
00:28:07.909 --> 00:28:09.730 align:start position:0%
how could the government have a model of
the<00:28:08.269> economy<00:28:08.509> that<00:28:08.929> didn't<00:28:09.259> include<00:28:09.470> any
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the economy that didn't include any
00:28:09.740 --> 00:28:13.210 align:start position:0%
the economy that didn't include any
banks<00:28:10.250> and<00:28:10.840> and<00:28:11.840> the<00:28:12.320> reason<00:28:12.620> for<00:28:12.649> that<00:28:12.799> is<00:28:13.039> is
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banks and and the reason for that is is
00:28:13.220 --> 00:28:15.730 align:start position:0%
banks and and the reason for that is is
that<00:28:13.370> if<00:28:13.580> you<00:28:14.059> believe<00:28:14.090> in<00:28:14.750> the<00:28:15.350> efficient
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that if you believe in the efficient
00:28:15.740 --> 00:28:17.409 align:start position:0%
that if you believe in the efficient
market<00:28:15.980> hypothesis<00:28:16.610> then<00:28:16.759> you<00:28:16.909> also<00:28:17.120> believe
00:28:17.409 --> 00:28:17.419 align:start position:0%
market hypothesis then you also believe
00:28:17.419 --> 00:28:19.509 align:start position:0%
market hypothesis then you also believe
that<00:28:17.570> thanks<00:28:18.139> are<00:28:18.289> this<00:28:18.590> this<00:28:18.919> this<00:28:19.190> sort<00:28:19.460> of
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that thanks are this this this sort of
00:28:19.519 --> 00:28:22.299 align:start position:0%
that thanks are this this this sort of
pasture<00:28:20.000> that<00:28:20.480> they<00:28:20.600> actually<00:28:21.009> in<00:28:22.009> theory
00:28:22.299 --> 00:28:22.309 align:start position:0%
pasture that they actually in theory
00:28:22.309 --> 00:28:24.580 align:start position:0%
pasture that they actually in theory
don't<00:28:22.549> exist<00:28:22.940> because<00:28:23.750> the<00:28:24.230> people<00:28:24.470> who<00:28:24.500> are
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don't exist because the people who are
00:28:24.590 --> 00:28:26.310 align:start position:0%
don't exist because the people who are
on<00:28:24.649> the<00:28:24.710> banks<00:28:25.009> are<00:28:25.129> perfectly<00:28:25.519> rational<00:28:25.759> and
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on the banks are perfectly rational and
00:28:26.320 --> 00:28:28.779 align:start position:0%
on the banks are perfectly rational and
perfectly<00:28:27.320> calculating<00:28:27.980> and<00:28:28.070> perfectly
00:28:28.779 --> 00:28:28.789 align:start position:0%
perfectly calculating and perfectly
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perfectly calculating and perfectly
selfish<00:28:29.210> and<00:28:29.710> so<00:28:30.710> what<00:28:31.309> they<00:28:31.429> do<00:28:31.490> just<00:28:31.789> sort<00:28:31.940> of
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selfish and so what they do just sort of
00:28:31.970 --> 00:28:32.230 align:start position:0%
selfish and so what they do just sort of
can
00:28:32.230 --> 00:28:32.240 align:start position:0%
can
00:28:32.240 --> 00:28:35.020 align:start position:0%
can
sout<00:28:32.920> so<00:28:33.920> there<00:28:34.100> are<00:28:34.130> 70<00:28:34.520> million<00:28:34.700> households
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sout so there are 70 million households
00:28:35.030 --> 00:28:36.910 align:start position:0%
sout so there are 70 million households
in<00:28:35.480> in<00:28:36.020> the<00:28:36.140> country<00:28:36.440> guess<00:28:36.710> how<00:28:36.860> many
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in in the country guess how many
00:28:36.920 --> 00:28:38.770 align:start position:0%
in in the country guess how many
households<00:28:37.610> were<00:28:37.730> modeled<00:28:38.090> in<00:28:38.270> the<00:28:38.390> model<00:28:38.660> the
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households were modeled in the model the
00:28:38.780 --> 00:28:40.270 align:start position:0%
households were modeled in the model the
federal<00:28:39.080> government<00:28:39.410> uses<00:28:39.710> to<00:28:39.740> predict
00:28:40.270 --> 00:28:40.280 align:start position:0%
federal government uses to predict
00:28:40.280 --> 00:28:44.890 align:start position:0%
federal government uses to predict
what's<00:28:40.460> going<00:28:40.550> to<00:28:40.610> happen<00:28:43.000> 111<00:28:44.000> perfectly
00:28:44.890 --> 00:28:44.900 align:start position:0%
what's going to happen 111 perfectly
00:28:44.900 --> 00:28:51.940 align:start position:0%
what's going to happen 111 perfectly
rational<00:28:46.510> a<00:28:47.510> a<00:28:48.280> happy<00:28:49.280> little<00:28:49.400> family<00:28:50.950> no
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rational a a happy little family no
00:28:51.950 --> 00:28:53.740 align:start position:0%
rational a a happy little family no
differences<00:28:52.429> in<00:28:52.730> circumstance<00:28:53.450> no
00:28:53.740 --> 00:28:53.750 align:start position:0%
differences in circumstance no
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differences in circumstance no
differences<00:28:54.260> in<00:28:54.530> geography<00:28:55.330> and<00:28:56.330> so<00:28:56.660> and<00:28:56.990> so
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differences in geography and so and so
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differences in geography and so and so
you<00:28:59.690> can<00:28:59.900> see<00:29:00.170> obviously<00:29:00.890> that<00:29:01.160> that<00:29:01.460> that
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you can see obviously that that that
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you can see obviously that that that
will<00:29:01.910> those<00:29:02.809> assumptions<00:29:03.230> will<00:29:03.559> take<00:29:03.740> you
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will those assumptions will take you
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will those assumptions will take you
down<00:29:04.070> a<00:29:04.240> the<00:29:05.240> road<00:29:05.420> to<00:29:05.630> despair<00:29:06.050> obviously<00:29:06.770> and
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down a the road to despair obviously and
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down a the road to despair obviously and
and<00:29:07.340> and<00:29:07.520> they<00:29:07.820> did<00:29:09.130> if<00:29:10.130> when<00:29:10.850> you<00:29:10.970> understand
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and and they did if when you understand
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and and they did if when you understand
the<00:29:11.720> economy<00:29:12.350> as<00:29:12.530> an<00:29:12.770> ecosystem<00:29:13.429> you<00:29:13.550> come<00:29:13.730> to
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the economy as an ecosystem you come to
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the economy as an ecosystem you come to
very<00:29:14.179> very<00:29:14.330> different<00:29:14.809> conclusions<00:29:15.559> about
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very very different conclusions about
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very very different conclusions about
what's<00:29:16.280> important<00:29:16.760> and<00:29:16.970> how<00:29:17.150> you<00:29:17.210> might
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what's important and how you might
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what's important and how you might
arrange<00:29:17.750> it<00:29:18.020> to<00:29:18.890> create<00:29:19.990> prosperity<00:29:20.990> and<00:29:21.890> I
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arrange it to create prosperity and I
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arrange it to create prosperity and I
just<00:29:22.340> wanted<00:29:22.490> to<00:29:22.670> hit<00:29:22.820> on<00:29:23.059> a<00:29:23.260> few<00:29:24.260> of<00:29:24.380> those<00:29:24.559> but
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just wanted to hit on a few of those but
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just wanted to hit on a few of those but
the<00:29:25.429> first<00:29:25.700> is<00:29:25.970> that<00:29:26.570> you<00:29:28.360> some<00:29:29.360> of<00:29:29.480> you<00:29:29.600> may
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the first is that you some of you may
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the first is that you some of you may
have<00:29:29.780> seen<00:29:29.900> I'll<00:29:30.500> start<00:29:31.040> by<00:29:31.160> talking<00:29:31.280> about
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have seen I'll start by talking about
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have seen I'll start by talking about
jobs<00:29:31.820> I<00:29:32.090> mean<00:29:32.240> some<00:29:32.390> of<00:29:32.480> you<00:29:32.570> may<00:29:32.660> have<00:29:32.690> seen<00:29:32.840> I
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jobs I mean some of you may have seen I
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jobs I mean some of you may have seen I
authored<00:29:33.920> a<00:29:34.660> an<00:29:35.660> op-ed<00:29:36.200> based<00:29:37.010> on<00:29:37.250> these<00:29:37.429> ideas
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authored a an op-ed based on these ideas
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authored a an op-ed based on these ideas
in<00:29:37.910> the<00:29:38.000> book<00:29:38.030> that<00:29:38.210> appeared<00:29:38.870> in<00:29:39.340> Bloomberg<00:29:40.340> a
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in the book that appeared in Bloomberg a
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in the book that appeared in Bloomberg a
week<00:29:41.300> ago<00:29:41.600> which<00:29:42.410> according<00:29:42.860> to<00:29:42.950> the<00:29:43.040> editors
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week ago which according to the editors
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week ago which according to the editors
was<00:29:43.820> unprecedented<00:29:44.360> in<00:29:44.990> their<00:29:45.170> history<00:29:45.320> in
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was unprecedented in their history in
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was unprecedented in their history in
terms<00:29:45.679> of<00:29:45.950> reaction<00:29:46.429> and<00:29:46.520> it<00:29:46.670> made<00:29:47.030> a<00:29:47.059> very
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terms of reaction and it made a very
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terms of reaction and it made a very
simple<00:29:48.110> argument<00:29:48.350> which<00:29:49.160> is<00:29:49.190> that<00:29:49.400> the<00:29:49.670> rich
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simple argument which is that the rich
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simple argument which is that the rich
are<00:29:50.059> not<00:29:50.360> job<00:29:50.750> creators<00:29:51.200> actually
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are not job creators actually
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are not job creators actually
middle-class<00:29:52.580> consumers<00:29:52.850> are<00:29:53.330> job<00:29:53.540> creators
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middle-class consumers are job creators
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middle-class consumers are job creators
and<00:29:54.230> and<00:29:54.500> the<00:29:54.590> argument<00:29:55.070> goes<00:29:55.100> like<00:29:55.580> this<00:29:55.850> that
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and and the argument goes like this that
00:29:56.150 --> 00:30:00.310 align:start position:0%
and and the argument goes like this that
for<00:29:56.900> a<00:29:57.230> very<00:29:57.470> long<00:29:57.890> time<00:29:58.990> there's<00:29:59.990> been<00:30:00.170> this
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for a very long time there's been this
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for a very long time there's been this
sort<00:30:00.500> of<00:30:00.530> generalized<00:30:01.130> assertion<00:30:02.140> in
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sort of generalized assertion in
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sort of generalized assertion in
discussions<00:30:04.850> of<00:30:04.970> political<00:30:05.390> economy<00:30:05.600> that<00:30:06.350> if
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discussions of political economy that if
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discussions of political economy that if
you<00:30:06.800> pour<00:30:07.580> money<00:30:08.300> into<00:30:08.450> rich<00:30:09.050> people<00:30:09.410> and
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you pour money into rich people and
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you pour money into rich people and
business<00:30:09.830> people<00:30:09.980> in<00:30:10.940> the<00:30:11.090> form<00:30:11.270> of<00:30:11.360> tax
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business people in the form of tax
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business people in the form of tax
breaks<00:30:11.720> and<00:30:12.140> increasing<00:30:12.860> wages<00:30:13.070> and<00:30:13.460> pour
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breaks and increasing wages and pour
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breaks and increasing wages and pour
money<00:30:14.390> into<00:30:14.540> corporations<00:30:15.260> in<00:30:15.559> the<00:30:16.010> form<00:30:16.250> of
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money into corporations in the form of
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money into corporations in the form of
increasing<00:30:17.000> profits<00:30:17.420> that<00:30:17.870> jobs<00:30:18.260> will
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increasing profits that jobs will
00:30:18.500 --> 00:30:20.230 align:start position:0%
increasing profits that jobs will
somehow<00:30:18.740> squirt<00:30:19.370> out<00:30:19.610> the<00:30:19.640> other<00:30:19.880> side<00:30:20.000> of
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somehow squirt out the other side of
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somehow squirt out the other side of
them<00:30:20.480> and<00:30:21.400> you<00:30:22.400> know<00:30:22.760> if<00:30:22.970> this<00:30:23.210> if<00:30:23.780> this<00:30:23.840> was
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them and you know if this if this was
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them and you know if this if this was
true<00:30:24.230> we<00:30:24.800> would<00:30:24.980> be<00:30:25.100> awash<00:30:25.370> in<00:30:25.429> jobs<00:30:25.970> because
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true we would be awash in jobs because
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true we would be awash in jobs because
over<00:30:26.840> the<00:30:26.870> last<00:30:26.960> 30<00:30:27.320> years<00:30:27.880> the<00:30:28.880> the<00:30:30.309> income
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over the last 30 years the the income
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over the last 30 years the the income
share<00:30:31.640> for<00:30:32.090> the<00:30:32.330> wealthiest<00:30:32.960> Americans<00:30:33.470> has
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share for the wealthiest Americans has
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share for the wealthiest Americans has
gone<00:30:33.830> up<00:30:34.010> someplace<00:30:34.490> between<00:30:34.760> 300<00:30:35.390> and<00:30:35.450> 500
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gone up someplace between 300 and 500
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gone up someplace between 300 and 500
percent<00:30:36.260> depending<00:30:36.410> on<00:30:36.710> how<00:30:37.040> you<00:30:37.100> measure<00:30:37.340> it
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percent depending on how you measure it
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percent depending on how you measure it
and<00:30:37.730> the<00:30:38.390> tax<00:30:38.750> rate<00:30:39.050> on<00:30:39.260> them<00:30:39.500> has<00:30:39.710> gone<00:30:39.950> come
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and the tax rate on them has gone come
00:30:40.280 --> 00:30:43.090 align:start position:0%
and the tax rate on them has gone come
down<00:30:40.460> someplace<00:30:41.210> between<00:30:41.630> 50<00:30:42.110> and<00:30:42.140> 75<00:30:42.559> percent
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down someplace between 50 and 75 percent
00:30:43.100 --> 00:30:44.890 align:start position:0%
down someplace between 50 and 75 percent
depending<00:30:43.340> on<00:30:43.669> how<00:30:44.000> you<00:30:44.059> measure<00:30:44.300> it<00:30:44.570> and<00:30:44.690> so
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depending on how you measure it and so
00:30:44.900 --> 00:30:45.490 align:start position:0%
depending on how you measure it and so
obvious
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obvious
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obvious
if<00:30:46.420> giving<00:30:47.420> money<00:30:47.570> to<00:30:47.660> rich<00:30:47.900> people<00:30:48.080> created
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if giving money to rich people created
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if giving money to rich people created
jobs<00:30:49.100> we<00:30:49.430> would<00:30:49.580> be<00:30:49.760> we<00:30:50.150> would<00:30:50.180> we<00:30:50.480> would<00:30:50.510> have
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jobs we would be we would we would have
00:30:50.750 --> 00:30:54.430 align:start position:0%
jobs we would be we would we would have
lots<00:30:51.140> of<00:30:51.380> jobs<00:30:51.560> and<00:30:51.890> we<00:30:52.040> don't<00:30:52.990> the<00:30:53.990> truth<00:30:54.200> is
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lots of jobs and we don't the truth is
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lots of jobs and we don't the truth is
that<00:30:54.650> that<00:30:55.220> jobs<00:30:55.760> are<00:30:57.610> consequence<00:30:58.610> of<00:30:58.700> the
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that that jobs are consequence of the
00:30:58.850 --> 00:31:01.620 align:start position:0%
that that jobs are consequence of the
feedback<00:30:59.330> loop<00:30:59.600> between<00:30:59.920> customers<00:31:00.920> and
00:31:01.620 --> 00:31:01.630 align:start position:0%
feedback loop between customers and
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feedback loop between customers and
businesses<00:31:02.800> and<00:31:03.800> and<00:31:04.660> the<00:31:05.660> way<00:31:05.810> to<00:31:05.870> create
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businesses and and the way to create
00:31:06.170 --> 00:31:09.220 align:start position:0%
businesses and and the way to create
jobs<00:31:06.740> is<00:31:07.160> to<00:31:07.190> have<00:31:07.550> more<00:31:08.480> middle<00:31:08.750> class<00:31:08.780> people
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jobs is to have more middle class people
00:31:09.230 --> 00:31:11.610 align:start position:0%
jobs is to have more middle class people
who<00:31:09.530> want<00:31:09.710> to<00:31:09.830> buy<00:31:09.950> things<00:31:10.280> from<00:31:10.520> businesses
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who want to buy things from businesses
00:31:11.620 --> 00:31:13.990 align:start position:0%
who want to buy things from businesses
Minh<00:31:12.620> otherway<00:31:12.920> to<00:31:12.980> put<00:31:13.280> a<00:31:13.310> finer<00:31:13.550> point<00:31:13.640> on
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Minh otherway to put a finer point on
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Minh otherway to put a finer point on
how<00:31:14.590> ridiculous<00:31:15.590> this<00:31:15.830> claim<00:31:16.490> is<00:31:16.520> that
00:31:16.890 --> 00:31:16.900 align:start position:0%
how ridiculous this claim is that
00:31:16.900 --> 00:31:19.210 align:start position:0%
how ridiculous this claim is that
business<00:31:17.900> people<00:31:18.140> create<00:31:18.380> jobs<00:31:18.620> which<00:31:18.890> is<00:31:19.070> to
00:31:19.210 --> 00:31:19.220 align:start position:0%
business people create jobs which is to
00:31:19.220 --> 00:31:20.590 align:start position:0%
business people create jobs which is to
which<00:31:19.520> is<00:31:19.670> to<00:31:19.820> reflect<00:31:20.120> on<00:31:20.210> the<00:31:20.330> fact<00:31:20.450> that
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which is to reflect on the fact that
00:31:20.600 --> 00:31:22.510 align:start position:0%
which is to reflect on the fact that
business<00:31:20.960> people<00:31:21.230> fundamentally<00:31:22.010> do<00:31:22.370> two
00:31:22.510 --> 00:31:22.520 align:start position:0%
business people fundamentally do two
00:31:22.520 --> 00:31:26.380 align:start position:0%
business people fundamentally do two
things<00:31:23.050> and<00:31:24.050> I<00:31:24.230> am<00:31:24.350> I'm<00:31:24.680> 1<00:31:25.610> i'm<00:31:25.760> a<00:31:25.790> quite<00:31:26.240> an
00:31:26.380 --> 00:31:26.390 align:start position:0%
things and I am I'm 1 i'm a quite an
00:31:26.390 --> 00:31:28.120 align:start position:0%
things and I am I'm 1 i'm a quite an
experience<00:31:26.660> one<00:31:27.020> you<00:31:27.140> do<00:31:27.260> two<00:31:27.410> things<00:31:27.620> for<00:31:27.890> the
00:31:28.120 --> 00:31:28.130 align:start position:0%
experience one you do two things for the
00:31:28.130 --> 00:31:29.800 align:start position:0%
experience one you do two things for the
first<00:31:28.310> thing<00:31:28.460> you<00:31:28.580> do<00:31:28.700> is<00:31:28.730> that<00:31:29.180> you<00:31:29.240> work<00:31:29.540> on
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first thing you do is that you work on
00:31:29.810 --> 00:31:33.820 align:start position:0%
first thing you do is that you work on
creating<00:31:30.080> revenue<00:31:31.060> sales<00:31:32.260> right<00:31:33.260> work<00:31:33.650> work
00:31:33.820 --> 00:31:33.830 align:start position:0%
creating revenue sales right work work
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creating revenue sales right work work
work<00:31:33.890> on<00:31:34.280> sales<00:31:35.090> sales<00:31:35.240> sales<00:31:36.250> but<00:31:37.250> you<00:31:37.400> devote
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work on sales sales sales but you devote
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work on sales sales sales but you devote
an<00:31:37.880> equal<00:31:38.270> amount<00:31:38.390> of<00:31:38.630> time<00:31:38.870> to<00:31:39.440> something
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an equal amount of time to something
00:31:39.770 --> 00:31:42.250 align:start position:0%
an equal amount of time to something
else<00:31:39.920> which<00:31:40.190> is<00:31:40.340> called<00:31:40.580> contain<00:31:41.510> costs<00:31:42.020> in
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else which is called contain costs in
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else which is called contain costs in
other<00:31:42.830> words<00:31:43.010> don't<00:31:43.760> create<00:31:44.510> jobs<00:31:45.700> so<00:31:46.720> so<00:31:47.720> most
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other words don't create jobs so so most
00:31:48.440 --> 00:31:50.980 align:start position:0%
other words don't create jobs so so most
business<00:31:48.950> people<00:31:48.980> devote<00:31:49.760> at<00:31:50.000> least<00:31:50.060> fifty
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business people devote at least fifty
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business people devote at least fifty
percent<00:31:51.290> of<00:31:51.470> their<00:31:51.560> time<00:31:52.030> to<00:31:53.030> trying<00:31:53.480> their
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percent of their time to trying their
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percent of their time to trying their
hardest<00:31:54.200> in<00:31:54.710> every<00:31:55.340> possible<00:31:55.700> way<00:31:56.090> they<00:31:56.540> can
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hardest in every possible way they can
00:31:56.840 --> 00:32:00.160 align:start position:0%
hardest in every possible way they can
to<00:31:57.800> not<00:31:57.950> create<00:31:58.250> jobs<00:31:58.640> and<00:31:59.030> the<00:31:59.780> difference
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to not create jobs and the difference
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to not create jobs and the difference
between<00:32:00.470> a<00:32:00.500> good<00:32:00.620> business<00:32:01.070> person<00:32:01.430> and<00:32:01.610> a<00:32:01.670> bad
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between a good business person and a bad
00:32:01.850 --> 00:32:04.270 align:start position:0%
between a good business person and a bad
business<00:32:02.240> person<00:32:02.570> is<00:32:02.720> largely<00:32:03.230> your<00:32:03.800> ability
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business person is largely your ability
00:32:04.280 --> 00:32:06.970 align:start position:0%
business person is largely your ability
to<00:32:04.940> not<00:32:05.150> create<00:32:05.390> jobs<00:32:05.810> because<00:32:06.710> the<00:32:06.830> more
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to not create jobs because the more
00:32:06.980 --> 00:32:10.060 align:start position:0%
to not create jobs because the more
revenue<00:32:07.340> you<00:32:07.880> create<00:32:08.360> and<00:32:08.660> the<00:32:08.770> fewer<00:32:09.770> jobs
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revenue you create and the fewer jobs
00:32:10.070 --> 00:32:14.230 align:start position:0%
revenue you create and the fewer jobs
you<00:32:10.760> have<00:32:11.000> the<00:32:11.750> more<00:32:11.930> profit<00:32:12.560> you<00:32:12.920> get<00:32:13.240> right
00:32:14.230 --> 00:32:14.240 align:start position:0%
you have the more profit you get right
00:32:14.240 --> 00:32:19.210 align:start position:0%
you have the more profit you get right
so<00:32:14.960> so<00:32:15.620> to<00:32:16.040> say<00:32:16.840> to<00:32:17.840> claim<00:32:18.140> that<00:32:18.620> business
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so so to say to claim that business
00:32:19.220 --> 00:32:22.600 align:start position:0%
so so to say to claim that business
people<00:32:19.460> create<00:32:19.700> jobs<00:32:20.000> is<00:32:20.390> like<00:32:21.610> squirrels
00:32:22.600 --> 00:32:22.610 align:start position:0%
people create jobs is like squirrels
00:32:22.610 --> 00:32:24.850 align:start position:0%
people create jobs is like squirrels
claiming<00:32:23.420> that<00:32:23.570> they<00:32:23.720> create<00:32:24.020> evolution<00:32:24.650> it's
00:32:24.850 --> 00:32:24.860 align:start position:0%
claiming that they create evolution it's
00:32:24.860 --> 00:32:26.740 align:start position:0%
claiming that they create evolution it's
it's<00:32:25.190> it's<00:32:25.490> literally<00:32:26.270> the<00:32:26.300> other<00:32:26.540> way<00:32:26.720> around
00:32:26.740 --> 00:32:26.750 align:start position:0%
it's it's literally the other way around
00:32:26.750 --> 00:32:31.390 align:start position:0%
it's it's literally the other way around
and<00:32:27.290> and<00:32:27.620> and<00:32:29.170> this<00:32:30.170> is<00:32:30.350> so<00:32:30.560> obvious<00:32:31.160> when<00:32:31.370> you
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and and and this is so obvious when you
00:32:31.400 --> 00:32:33.130 align:start position:0%
and and and this is so obvious when you
understand<00:32:31.940> it<00:32:32.060> as<00:32:32.210> a<00:32:32.240> complex<00:32:32.900> adaptive
00:32:33.130 --> 00:32:33.140 align:start position:0%
understand it as a complex adaptive
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understand it as a complex adaptive
system<00:32:33.860> it's<00:32:34.010> so<00:32:34.100> obvious<00:32:34.580> when<00:32:34.730> you
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system it's so obvious when you
00:32:35.020 --> 00:32:37.270 align:start position:0%
system it's so obvious when you
understand<00:32:36.020> it<00:32:36.080> as<00:32:36.200> an<00:32:36.320> ecosystem<00:32:36.950> but<00:32:37.100> it's
00:32:37.270 --> 00:32:37.280 align:start position:0%
understand it as an ecosystem but it's
00:32:37.280 --> 00:32:40.390 align:start position:0%
understand it as an ecosystem but it's
but<00:32:37.790> it's<00:32:37.820> opaque<00:32:38.390> if<00:32:38.750> you<00:32:39.170> have<00:32:39.350> this<00:32:39.500> you
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but it's opaque if you have this you
00:32:40.400 --> 00:32:42.160 align:start position:0%
but it's opaque if you have this you
have<00:32:40.580> this<00:32:40.700> sort<00:32:40.910> of<00:32:40.970> mechanistic<00:32:41.660> sort<00:32:42.110> of
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have this sort of mechanistic sort of
00:32:42.170 --> 00:32:44.350 align:start position:0%
have this sort of mechanistic sort of
donut<00:32:42.710> machine<00:32:42.950> metaphor<00:32:43.760> in<00:32:43.970> your<00:32:44.150> mind
00:32:44.350 --> 00:32:44.360 align:start position:0%
donut machine metaphor in your mind
00:32:44.360 --> 00:32:45.970 align:start position:0%
donut machine metaphor in your mind
where<00:32:44.630> you<00:32:44.720> pour<00:32:44.990> you<00:32:45.230> know<00:32:45.320> ingredients<00:32:45.860> in
00:32:45.970 --> 00:32:45.980 align:start position:0%
where you pour you know ingredients in
00:32:45.980 --> 00:32:49.750 align:start position:0%
where you pour you know ingredients in
and<00:32:46.250> stuff<00:32:47.180> squirts<00:32:47.780> out<00:32:47.930> another<00:32:48.860> incredibly
00:32:49.750 --> 00:32:49.760 align:start position:0%
and stuff squirts out another incredibly
00:32:49.760 --> 00:32:54.130 align:start position:0%
and stuff squirts out another incredibly
easy<00:32:50.530> another<00:32:51.530> another<00:32:51.890> very<00:32:52.190> important<00:32:53.140> way
00:32:54.130 --> 00:32:54.140 align:start position:0%
easy another another very important way
00:32:54.140 --> 00:32:57.130 align:start position:0%
easy another another very important way
in<00:32:54.290> which<00:32:54.440> this<00:32:54.830> metaphor<00:32:55.370> is<00:32:56.150> clarifying<00:32:56.870> is
00:32:57.130 --> 00:32:57.140 align:start position:0%
in which this metaphor is clarifying is
00:32:57.140 --> 00:32:58.419 align:start position:0%
in which this metaphor is clarifying is
the<00:32:57.470> way<00:32:57.590> in<00:32:57.650> which<00:32:57.740> it<00:32:57.830> allows<00:32:58.130> you<00:32:58.310> to
00:32:58.419 --> 00:32:58.429 align:start position:0%
the way in which it allows you to
00:32:58.429 --> 00:32:58.889 align:start position:0%
the way in which it allows you to
understand
00:32:58.889 --> 00:32:58.899 align:start position:0%
understand
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understand
inequality<00:32:59.799> as<00:33:00.210> as<00:33:02.039> the<00:33:03.039> enemy<00:33:03.219> of<00:33:04.019> prosperity
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inequality as as the enemy of prosperity
00:33:06.269 --> 00:33:09.539 align:start position:0%
inequality as as the enemy of prosperity
again<00:33:07.269> if<00:33:07.690> your<00:33:07.929> if<00:33:08.200> your<00:33:08.289> paradigm<00:33:08.769> if<00:33:09.219> your
00:33:09.539 --> 00:33:09.549 align:start position:0%
again if your if your paradigm if your
00:33:09.549 --> 00:33:11.339 align:start position:0%
again if your if your paradigm if your
metaphors<00:33:09.999> are<00:33:10.119> mechanistic<00:33:10.719> that<00:33:11.200> the
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metaphors are mechanistic that the
00:33:11.349 --> 00:33:12.959 align:start position:0%
metaphors are mechanistic that the
richer<00:33:11.679> the<00:33:11.710> rich<00:33:11.979> get<00:33:12.249> somehow<00:33:12.669> the<00:33:12.729> better
00:33:12.959 --> 00:33:12.969 align:start position:0%
richer the rich get somehow the better
00:33:12.969 --> 00:33:14.789 align:start position:0%
richer the rich get somehow the better
it<00:33:13.119> off<00:33:13.269> off<00:33:13.570> it<00:33:14.049> will<00:33:14.289> be<00:33:14.409> for<00:33:14.589> everybody
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it off off it will be for everybody
00:33:14.799 --> 00:33:16.259 align:start position:0%
it off off it will be for everybody
because<00:33:15.070> again<00:33:15.429> you're<00:33:15.580> pouring<00:33:15.969> money<00:33:16.059> in
00:33:16.259 --> 00:33:16.269 align:start position:0%
because again you're pouring money in
00:33:16.269 --> 00:33:17.849 align:start position:0%
because again you're pouring money in
the<00:33:16.359> rich<00:33:16.479> people<00:33:16.839> and<00:33:17.019> you<00:33:17.499> know<00:33:17.589> the<00:33:17.710> good
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the rich people and you know the good
00:33:17.859 --> 00:33:19.049 align:start position:0%
the rich people and you know the good
stuff<00:33:18.099> is<00:33:18.279> squirting<00:33:18.549> out<00:33:18.700> the<00:33:18.849> other<00:33:18.940> side
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stuff is squirting out the other side
00:33:19.059 --> 00:33:21.839 align:start position:0%
stuff is squirting out the other side
but<00:33:20.049> when<00:33:20.619> you<00:33:20.710> understand<00:33:21.249> it<00:33:21.339> is<00:33:21.489> a<00:33:21.519> feedback
00:33:21.839 --> 00:33:21.849 align:start position:0%
but when you understand it is a feedback
00:33:21.849 --> 00:33:25.320 align:start position:0%
but when you understand it is a feedback
loop<00:33:22.119> as<00:33:22.599> this<00:33:23.080> as<00:33:23.320> this<00:33:23.379> as<00:33:24.339> a<00:33:24.399> sort<00:33:24.789> of<00:33:24.820> circle
00:33:25.320 --> 00:33:25.330 align:start position:0%
loop as this as this as a sort of circle
00:33:25.330 --> 00:33:26.849 align:start position:0%
loop as this as this as a sort of circle
of<00:33:25.450> life<00:33:25.690> thing<00:33:26.109> you<00:33:26.440> know<00:33:26.529> I<00:33:26.559> mean<00:33:26.799> I
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of life thing you know I mean I
00:33:26.859 --> 00:33:28.469 align:start position:0%
of life thing you know I mean I
sometimes<00:33:27.519> think<00:33:27.729> that<00:33:27.849> all<00:33:28.119> you<00:33:28.269> need<00:33:28.419> to
00:33:28.469 --> 00:33:28.479 align:start position:0%
sometimes think that all you need to
00:33:28.479 --> 00:33:29.820 align:start position:0%
sometimes think that all you need to
know<00:33:28.599> about<00:33:28.719> economics<00:33:29.259> is<00:33:29.379> watching<00:33:29.739> The
00:33:29.820 --> 00:33:29.830 align:start position:0%
know about economics is watching The
00:33:29.830 --> 00:33:32.369 align:start position:0%
know about economics is watching The
Lion<00:33:30.039> King<00:33:30.159> you<00:33:30.489> know<00:33:30.570> it<00:33:31.570> you<00:33:31.960> know<00:33:32.049> you<00:33:32.109> learn
00:33:32.369 --> 00:33:32.379 align:start position:0%
Lion King you know it you know you learn
00:33:32.379 --> 00:33:38.430 align:start position:0%
Lion King you know it you know you learn
a<00:33:32.440> lot<00:33:32.879> and<00:33:33.879> and<00:33:35.429> you<00:33:36.429> know<00:33:37.139> great<00:33:38.139> inequality
00:33:38.430 --> 00:33:38.440 align:start position:0%
a lot and and you know great inequality
00:33:38.440 --> 00:33:41.669 align:start position:0%
a lot and and you know great inequality
is<00:33:39.009> the<00:33:39.190> enemy<00:33:39.609> of<00:33:39.639> prosperity<00:33:40.359> because<00:33:41.109> it
00:33:41.669 --> 00:33:41.679 align:start position:0%
is the enemy of prosperity because it
00:33:41.679 --> 00:33:44.579 align:start position:0%
is the enemy of prosperity because it
creates<00:33:42.159> this<00:33:42.309> unholy<00:33:43.179> feedback<00:33:43.989> loop<00:33:44.349> where
00:33:44.579 --> 00:33:44.589 align:start position:0%
creates this unholy feedback loop where
00:33:44.589 --> 00:33:46.739 align:start position:0%
creates this unholy feedback loop where
you<00:33:45.429> have<00:33:45.639> this<00:33:45.729> population<00:33:46.330> of<00:33:46.419> people<00:33:46.539> who
00:33:46.739 --> 00:33:46.749 align:start position:0%
you have this population of people who
00:33:46.749 --> 00:33:48.989 align:start position:0%
you have this population of people who
don't<00:33:46.929> care<00:33:47.109> what<00:33:47.259> prices<00:33:47.499> are<00:33:47.979> and<00:33:48.429> they<00:33:48.820> push
00:33:48.989 --> 00:33:48.999 align:start position:0%
don't care what prices are and they push
00:33:48.999 --> 00:33:50.459 align:start position:0%
don't care what prices are and they push
the<00:33:49.119> prices<00:33:49.509> up<00:33:49.659> for<00:33:49.839> everything<00:33:50.229> and<00:33:50.349> they
00:33:50.459 --> 00:33:50.469 align:start position:0%
the prices up for everything and they
00:33:50.469 --> 00:33:52.919 align:start position:0%
the prices up for everything and they
accumulate<00:33:50.799> all<00:33:51.009> the<00:33:51.369> money<00:33:51.549> and<00:33:51.639> the<00:33:52.450> vast
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accumulate all the money and the vast
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accumulate all the money and the vast
majority<00:33:53.320> of<00:33:53.950> people<00:33:54.369> are<00:33:54.690> struggling<00:33:55.690> to
00:33:55.919 --> 00:33:55.929 align:start position:0%
majority of people are struggling to
00:33:55.929 --> 00:33:57.570 align:start position:0%
majority of people are struggling to
keep<00:33:56.109> up<00:33:56.320> and<00:33:56.529> so<00:33:56.739> what<00:33:56.979> do<00:33:57.039> they<00:33:57.190> do<00:33:57.249> they
00:33:57.570 --> 00:33:57.580 align:start position:0%
keep up and so what do they do they
00:33:57.580 --> 00:34:00.959 align:start position:0%
keep up and so what do they do they
start<00:33:57.879> to<00:33:58.059> borrow<00:33:58.649> right<00:33:59.669> which<00:34:00.669> is<00:34:00.700> what<00:34:00.940> our
00:34:00.959 --> 00:34:00.969 align:start position:0%
start to borrow right which is what our
00:34:00.969 --> 00:34:02.759 align:start position:0%
start to borrow right which is what our
middle<00:34:01.509> class<00:34:01.539> is<00:34:01.869> done<00:34:01.989> is<00:34:02.200> start<00:34:02.409> to<00:34:02.529> borrow
00:34:02.759 --> 00:34:02.769 align:start position:0%
middle class is done is start to borrow
00:34:02.769 --> 00:34:04.259 align:start position:0%
middle class is done is start to borrow
to<00:34:02.950> keep<00:34:03.190> up<00:34:03.369> and<00:34:03.580> who<00:34:03.789> will<00:34:03.940> lend<00:34:04.119> them<00:34:04.239> the
00:34:04.259 --> 00:34:04.269 align:start position:0%
to keep up and who will lend them the
00:34:04.269 --> 00:34:06.389 align:start position:0%
to keep up and who will lend them the
money<00:34:04.389> the<00:34:05.289> rich<00:34:05.440> who<00:34:05.649> have<00:34:05.739> accumulated<00:34:06.009> all
00:34:06.389 --> 00:34:06.399 align:start position:0%
money the rich who have accumulated all
00:34:06.399 --> 00:34:08.159 align:start position:0%
money the rich who have accumulated all
this<00:34:06.549> and<00:34:06.729> I'll<00:34:07.149> you<00:34:07.450> know<00:34:07.479> this<00:34:07.690> huge<00:34:07.929> amount
00:34:08.159 --> 00:34:08.169 align:start position:0%
this and I'll you know this huge amount
00:34:08.169 --> 00:34:11.309 align:start position:0%
this and I'll you know this huge amount
of<00:34:08.260> capital<00:34:08.829> and<00:34:09.419> they'll<00:34:10.419> and<00:34:10.690> they'll<00:34:11.109> end
00:34:11.309 --> 00:34:11.319 align:start position:0%
of capital and they'll and they'll end
00:34:11.319 --> 00:34:12.960 align:start position:0%
of capital and they'll and they'll end
they'll<00:34:11.529> and<00:34:11.919> because<00:34:12.309> they<00:34:12.429> need<00:34:12.579> financial
00:34:12.960 --> 00:34:12.970 align:start position:0%
they'll and because they need financial
00:34:12.970 --> 00:34:14.819 align:start position:0%
they'll and because they need financial
eyes<00:34:13.210> these<00:34:13.419> assets<00:34:13.809> they<00:34:14.049> lend<00:34:14.500> them<00:34:14.619> money
00:34:14.819 --> 00:34:14.829 align:start position:0%
eyes these assets they lend them money
00:34:14.829 --> 00:34:18.210 align:start position:0%
eyes these assets they lend them money
at<00:34:15.309> you<00:34:15.879> know<00:34:16.049> on<00:34:17.049> crazy<00:34:17.349> terms<00:34:17.649> and<00:34:17.950> of<00:34:18.010> course
00:34:18.210 --> 00:34:18.220 align:start position:0%
at you know on crazy terms and of course
00:34:18.220 --> 00:34:19.710 align:start position:0%
at you know on crazy terms and of course
eventually<00:34:18.520> that<00:34:18.909> whole<00:34:19.089> house<00:34:19.450> of<00:34:19.599> cards
00:34:19.710 --> 00:34:19.720 align:start position:0%
eventually that whole house of cards
00:34:19.720 --> 00:34:23.730 align:start position:0%
eventually that whole house of cards
falls<00:34:20.500> down<00:34:20.909> this<00:34:21.909> that<00:34:22.240> this<00:34:22.809> is<00:34:23.079> exactly
00:34:23.730 --> 00:34:23.740 align:start position:0%
falls down this that this is exactly
00:34:23.740 --> 00:34:26.549 align:start position:0%
falls down this that this is exactly
what<00:34:24.099> happened<00:34:24.399> in<00:34:24.460> 2008<00:34:25.089> it's<00:34:25.299> exactly<00:34:26.200> what
00:34:26.549 --> 00:34:26.559 align:start position:0%
what happened in 2008 it's exactly what
00:34:26.559 --> 00:34:32.069 align:start position:0%
what happened in 2008 it's exactly what
happened<00:34:26.950> in<00:34:27.099> 1929<00:34:27.730> and<00:34:28.049> and<00:34:29.049> uh<00:34:29.589> and<00:34:30.929> only<00:34:31.929> by
00:34:32.069 --> 00:34:32.079 align:start position:0%
happened in 1929 and and uh and only by
00:34:32.079 --> 00:34:34.760 align:start position:0%
happened in 1929 and and uh and only by
understanding<00:34:32.109> the<00:34:33.039> world<00:34:33.220> as<00:34:33.429> this<00:34:33.639> as<00:34:33.849> this
00:34:34.760 --> 00:34:34.770 align:start position:0%
understanding the world as this as this
00:34:34.770 --> 00:34:37.649 align:start position:0%
understanding the world as this as this
series<00:34:35.770> of<00:34:35.980> feedback<00:34:36.399> loops<00:34:36.669> does<00:34:37.179> it<00:34:37.329> make<00:34:37.510> it
00:34:37.649 --> 00:34:37.659 align:start position:0%
series of feedback loops does it make it
00:34:37.659 --> 00:34:40.319 align:start position:0%
series of feedback loops does it make it
transparently<00:34:38.529> obvious<00:34:39.069> what<00:34:39.700> how
00:34:40.319 --> 00:34:40.329 align:start position:0%
transparently obvious what how
00:34:40.329 --> 00:34:44.460 align:start position:0%
transparently obvious what how
destructive<00:34:40.809> inequality<00:34:41.559> is<00:34:42.089> to<00:34:43.109> to<00:34:44.109> general
00:34:44.460 --> 00:34:44.470 align:start position:0%
destructive inequality is to to general
00:34:44.470 --> 00:34:48.869 align:start position:0%
destructive inequality is to to general
prosperity<00:34:44.940> and<00:34:46.980> with<00:34:47.980> that<00:34:48.010> I<00:34:48.460> think<00:34:48.669> it's
00:34:48.869 --> 00:34:48.879 align:start position:0%
prosperity and with that I think it's
00:34:48.879 --> 00:34:50.519 align:start position:0%
prosperity and with that I think it's
worth<00:34:49.059> talking<00:34:49.299> about<00:34:49.510> how<00:34:50.260> you<00:34:50.319> might
00:34:50.519 --> 00:34:50.529 align:start position:0%
worth talking about how you might
00:34:50.529 --> 00:34:54.149 align:start position:0%
worth talking about how you might
organize<00:34:50.950> a<00:34:51.010> government<00:34:51.579> to<00:34:51.909> to<00:34:52.869> make<00:34:53.740> some
00:34:54.149 --> 00:34:54.159 align:start position:0%
organize a government to to make some
00:34:54.159 --> 00:34:56.159 align:start position:0%
organize a government to to make some
sense<00:34:54.309> of<00:34:54.460> this<00:34:54.520> stuff<00:34:54.789> this<00:34:55.539> by<00:34:55.720> the<00:34:55.750> way<00:34:55.869> is
00:34:56.159 --> 00:34:56.169 align:start position:0%
sense of this stuff this by the way is
00:34:56.169 --> 00:34:58.380 align:start position:0%
sense of this stuff this by the way is
something<00:34:57.039> we're<00:34:57.160> quite<00:34:57.339> fond<00:34:57.579> of<00:34:57.730> a<00:34:57.789> little
00:34:58.380 --> 00:34:58.390 align:start position:0%
something we're quite fond of a little
00:34:58.390 --> 00:35:00.599 align:start position:0%
something we're quite fond of a little
visual<00:34:58.569> depiction<00:34:59.170> of<00:34:59.369> the<00:35:00.369> kind<00:35:00.549> of
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visual depiction of the kind of
00:35:00.609 --> 00:35:02.760 align:start position:0%
visual depiction of the kind of
inequality<00:35:01.240> that<00:35:01.420> Nick<00:35:02.170> was<00:35:02.200> talking<00:35:02.650> about
00:35:02.760 --> 00:35:02.770 align:start position:0%
inequality that Nick was talking about
00:35:02.770 --> 00:35:04.799 align:start position:0%
inequality that Nick was talking about
in<00:35:02.890> the<00:35:02.950> economy<00:35:03.339> in<00:35:03.490> the<00:35:03.579> way<00:35:03.700> that<00:35:03.910> yeah<00:35:04.569> and
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in the economy in the way that yeah and
00:35:04.809 --> 00:35:07.069 align:start position:0%
in the economy in the way that yeah and
it<00:35:04.900> so<00:35:05.589> this<00:35:05.710> is<00:35:05.859> another<00:35:06.099> way<00:35:06.309> to<00:35:06.339> understand
00:35:07.069 --> 00:35:07.079 align:start position:0%
it so this is another way to understand
00:35:07.079 --> 00:35:10.049 align:start position:0%
it so this is another way to understand
another<00:35:08.079> way<00:35:08.230> to<00:35:08.260> understand<00:35:08.740> how<00:35:09.339> how
00:35:10.049 --> 00:35:10.059 align:start position:0%
another way to understand how how
00:35:10.059 --> 00:35:11.820 align:start position:0%
another way to understand how how
insidious<00:35:10.900> in<00:35:11.230> clinic<00:35:11.619> while
00:35:11.820 --> 00:35:11.830 align:start position:0%
insidious in clinic while
00:35:11.830 --> 00:35:14.490 align:start position:0%
insidious in clinic while
he<00:35:11.950> is<00:35:12.070> is<00:35:12.310> it<00:35:12.520> if<00:35:13.090> you<00:35:13.270> understand<00:35:13.930> the
00:35:14.490 --> 00:35:14.500 align:start position:0%
he is is it if you understand the
00:35:14.500 --> 00:35:18.030 align:start position:0%
he is is it if you understand the
economy<00:35:15.070> as<00:35:15.220> a<00:35:15.790> circulation<00:35:16.450> system<00:35:17.080> right
00:35:18.030 --> 00:35:18.040 align:start position:0%
economy as a circulation system right
00:35:18.040 --> 00:35:21.300 align:start position:0%
economy as a circulation system right
rather<00:35:18.550> than<00:35:18.700> as<00:35:19.030> a<00:35:19.450> essentially<00:35:20.380> as<00:35:20.680> it<00:35:20.950> as<00:35:21.190> a
00:35:21.300 --> 00:35:21.310 align:start position:0%
rather than as a essentially as it as a
00:35:21.310 --> 00:35:25.110 align:start position:0%
rather than as a essentially as it as a
donut<00:35:21.820> machine<00:35:22.350> then<00:35:23.350> you<00:35:23.530> then<00:35:23.860> then<00:35:24.400> you<00:35:24.670> you
00:35:25.110 --> 00:35:25.120 align:start position:0%
donut machine then you then then you you
00:35:25.120 --> 00:35:29.970 align:start position:0%
donut machine then you then then you you
come<00:35:25.360> away<00:35:25.480> with<00:35:25.570> a<00:35:25.720> couple<00:35:26.050> of<00:35:27.630> new<00:35:28.630> ideas<00:35:28.980> one
00:35:29.970 --> 00:35:29.980 align:start position:0%
come away with a couple of new ideas one
00:35:29.980 --> 00:35:32.340 align:start position:0%
come away with a couple of new ideas one
of<00:35:30.100> them<00:35:30.250> is<00:35:30.400> is<00:35:30.700> that<00:35:30.820> if<00:35:30.940> you<00:35:31.030> allow<00:35:31.360> all<00:35:32.290> of
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of them is is that if you allow all of
00:35:32.350 --> 00:35:35.280 align:start position:0%
of them is is that if you allow all of
the<00:35:33.010> money<00:35:33.220> to<00:35:33.550> clot<00:35:33.880> in<00:35:34.150> a<00:35:34.360> tiny<00:35:34.600> little<00:35:34.840> spot
00:35:35.280 --> 00:35:35.290 align:start position:0%
the money to clot in a tiny little spot
00:35:35.290 --> 00:35:38.610 align:start position:0%
the money to clot in a tiny little spot
in<00:35:35.560> the<00:35:35.680> economy<00:35:36.220> that<00:35:36.940> can't<00:35:37.240> be<00:35:37.330> good<00:35:37.620> right
00:35:38.610 --> 00:35:38.620 align:start position:0%
in the economy that can't be good right
00:35:38.620 --> 00:35:41.100 align:start position:0%
in the economy that can't be good right
and<00:35:39.460> so<00:35:39.910> when<00:35:40.360> you<00:35:40.450> reflect<00:35:40.690> on<00:35:40.870> what's
00:35:41.100 --> 00:35:41.110 align:start position:0%
and so when you reflect on what's
00:35:41.110 --> 00:35:42.630 align:start position:0%
and so when you reflect on what's
happened<00:35:41.470> to<00:35:41.530> the<00:35:41.620> United<00:35:41.920> States<00:35:42.100> this
00:35:42.630 --> 00:35:42.640 align:start position:0%
happened to the United States this
00:35:42.640 --> 00:35:46.650 align:start position:0%
happened to the United States this
economy<00:35:43.210> so<00:35:43.390> in<00:35:43.510> 1980<00:35:43.960> the<00:35:44.680> top<00:35:44.860> 1%<00:35:45.510> got<00:35:46.510> about
00:35:46.650 --> 00:35:46.660 align:start position:0%
economy so in 1980 the top 1% got about
00:35:46.660 --> 00:35:48.480 align:start position:0%
economy so in 1980 the top 1% got about
eight<00:35:46.900> percent<00:35:47.080> of<00:35:47.500> the<00:35:47.770> national<00:35:48.190> share<00:35:48.370> of
00:35:48.480 --> 00:35:48.490 align:start position:0%
eight percent of the national share of
00:35:48.490 --> 00:35:50.430 align:start position:0%
eight percent of the national share of
income<00:35:48.700> and<00:35:49.210> the<00:35:49.480> bottom<00:35:49.780> fifty<00:35:50.140> percent
00:35:50.430 --> 00:35:50.440 align:start position:0%
income and the bottom fifty percent
00:35:50.440 --> 00:35:52.320 align:start position:0%
income and the bottom fifty percent
shared<00:35:50.860> about<00:35:51.280> eighteen<00:35:51.790> percent<00:35:52.000> of
00:35:52.320 --> 00:35:52.330 align:start position:0%
shared about eighteen percent of
00:35:52.330 --> 00:35:55.650 align:start position:0%
shared about eighteen percent of
national<00:35:52.720> income<00:35:52.840> by<00:35:53.910> basically<00:35:54.910> today<00:35:55.300> 30
00:35:55.650 --> 00:35:55.660 align:start position:0%
national income by basically today 30
00:35:55.660 --> 00:35:58.140 align:start position:0%
national income by basically today 30
years<00:35:55.870> later<00:35:55.930> the<00:35:56.230> top<00:35:56.740> 1%<00:35:56.980> shares<00:35:57.730> about
00:35:58.140 --> 00:35:58.150 align:start position:0%
years later the top 1% shares about
00:35:58.150 --> 00:36:00.450 align:start position:0%
years later the top 1% shares about
twenty-five<00:35:58.990> percent<00:35:59.350> of<00:35:59.770> income<00:36:00.100> so<00:36:00.340> up
00:36:00.450 --> 00:36:00.460 align:start position:0%
twenty-five percent of income so up
00:36:00.460 --> 00:36:02.340 align:start position:0%
twenty-five percent of income so up
three<00:36:00.670> hundred<00:36:00.910> percent<00:36:01.240> and<00:36:01.390> the<00:36:01.420> bottom
00:36:02.340 --> 00:36:02.350 align:start position:0%
three hundred percent and the bottom
00:36:02.350 --> 00:36:04.710 align:start position:0%
three hundred percent and the bottom
fifty<00:36:02.890> percent<00:36:03.160> of<00:36:03.280> Americans<00:36:03.790> now<00:36:04.300> share
00:36:04.710 --> 00:36:04.720 align:start position:0%
fifty percent of Americans now share
00:36:04.720 --> 00:36:07.170 align:start position:0%
fifty percent of Americans now share
twelve<00:36:05.260> percent<00:36:05.680> of<00:36:05.830> income<00:36:06.160> so<00:36:06.790> we<00:36:07.000> have
00:36:07.170 --> 00:36:07.180 align:start position:0%
twelve percent of income so we have
00:36:07.180 --> 00:36:09.600 align:start position:0%
twelve percent of income so we have
literally<00:36:07.600> taken<00:36:07.810> twenty<00:36:08.710> five<00:36:08.920> percent<00:36:08.950> of
00:36:09.600 --> 00:36:09.610 align:start position:0%
literally taken twenty five percent of
00:36:09.610 --> 00:36:11.910 align:start position:0%
literally taken twenty five percent of
the<00:36:09.850> lifeblood<00:36:10.420> of<00:36:10.480> our<00:36:10.870> economy<00:36:10.930> and<00:36:11.530> we<00:36:11.800> have
00:36:11.910 --> 00:36:11.920 align:start position:0%
the lifeblood of our economy and we have
00:36:11.920 --> 00:36:14.100 align:start position:0%
the lifeblood of our economy and we have
stuck<00:36:12.250> it<00:36:12.400> essentially<00:36:13.000> in<00:36:13.150> one<00:36:13.420> percent<00:36:13.930> of
00:36:14.100 --> 00:36:14.110 align:start position:0%
stuck it essentially in one percent of
00:36:14.110 --> 00:36:17.790 align:start position:0%
stuck it essentially in one percent of
our<00:36:14.730> you<00:36:15.730> know<00:36:15.760> corpus<00:36:16.330> essentially<00:36:17.050> imagine
00:36:17.790 --> 00:36:17.800 align:start position:0%
our you know corpus essentially imagine
00:36:17.800 --> 00:36:20.280 align:start position:0%
our you know corpus essentially imagine
the<00:36:17.890> big<00:36:18.040> toe<00:36:18.280> and<00:36:18.580> you<00:36:19.480> can<00:36:19.630> imagine<00:36:19.810> how
00:36:20.280 --> 00:36:20.290 align:start position:0%
the big toe and you can imagine how
00:36:20.290 --> 00:36:22.590 align:start position:0%
the big toe and you can imagine how
crappy<00:36:20.650> the<00:36:20.920> rest<00:36:21.100> of<00:36:21.190> the<00:36:21.250> body<00:36:21.400> feels<00:36:21.700> right
00:36:22.590 --> 00:36:22.600 align:start position:0%
crappy the rest of the body feels right
00:36:22.600 --> 00:36:24.720 align:start position:0%
crappy the rest of the body feels right
and<00:36:22.780> that<00:36:23.200> is<00:36:23.350> literally<00:36:23.860> what<00:36:24.100> has<00:36:24.340> happened
00:36:24.720 --> 00:36:24.730 align:start position:0%
and that is literally what has happened
00:36:24.730 --> 00:36:26.460 align:start position:0%
and that is literally what has happened
to<00:36:24.880> our<00:36:24.910> economy<00:36:25.240> we<00:36:25.630> have<00:36:25.780> sucked<00:36:26.170> the
00:36:26.460 --> 00:36:26.470 align:start position:0%
to our economy we have sucked the
00:36:26.470 --> 00:36:28.800 align:start position:0%
to our economy we have sucked the
lifeblood<00:36:26.680> out<00:36:27.160> of<00:36:27.400> most<00:36:27.670> of<00:36:27.940> it<00:36:28.060> and<00:36:28.210> stuck<00:36:28.630> it
00:36:28.800 --> 00:36:28.810 align:start position:0%
lifeblood out of most of it and stuck it
00:36:28.810 --> 00:36:30.780 align:start position:0%
lifeblood out of most of it and stuck it
in<00:36:28.930> this<00:36:29.110> little<00:36:29.290> tiny<00:36:29.590> place<00:36:30.130> there's
00:36:30.780 --> 00:36:30.790 align:start position:0%
in this little tiny place there's
00:36:30.790 --> 00:36:33.750 align:start position:0%
in this little tiny place there's
another<00:36:31.230> observation<00:36:32.230> that<00:36:32.860> actually<00:36:33.640> is
00:36:33.750 --> 00:36:33.760 align:start position:0%
another observation that actually is
00:36:33.760 --> 00:36:36.060 align:start position:0%
another observation that actually is
very<00:36:34.000> very<00:36:34.600> interesting<00:36:35.200> that<00:36:35.410> understanding
00:36:36.060 --> 00:36:36.070 align:start position:0%
very very interesting that understanding
00:36:36.070 --> 00:36:37.620 align:start position:0%
very very interesting that understanding
the<00:36:36.160> economy's<00:36:36.610> a<00:36:36.640> circulation<00:36:37.120> system
00:36:37.620 --> 00:36:37.630 align:start position:0%
the economy's a circulation system
00:36:37.630 --> 00:36:40.650 align:start position:0%
the economy's a circulation system
allows<00:36:38.260> you<00:36:38.440> to<00:36:38.740> make<00:36:39.160> and<00:36:39.430> that<00:36:39.460> is<00:36:39.910> that<00:36:40.120> the
00:36:40.650 --> 00:36:40.660 align:start position:0%
allows you to make and that is that the
00:36:40.660 --> 00:36:43.650 align:start position:0%
allows you to make and that is that the
entire<00:36:41.220> conception<00:36:42.220> that<00:36:42.850> most<00:36:43.150> Americans
00:36:43.650 --> 00:36:43.660 align:start position:0%
entire conception that most Americans
00:36:43.660 --> 00:36:47.190 align:start position:0%
entire conception that most Americans
have<00:36:43.720> of<00:36:44.020> what<00:36:44.200> government<00:36:44.710> does<00:36:44.770> is<00:36:46.200> spending
00:36:47.190 --> 00:36:47.200 align:start position:0%
have of what government does is spending
00:36:47.200 --> 00:36:50.850 align:start position:0%
have of what government does is spending
right<00:36:47.890> who<00:36:48.190> agrees<00:36:48.490> government<00:36:49.300> spends<00:36:49.960> we
00:36:50.850 --> 00:36:50.860 align:start position:0%
right who agrees government spends we
00:36:50.860 --> 00:36:53.670 align:start position:0%
right who agrees government spends we
agree<00:36:51.240> surely<00:36:52.240> you<00:36:52.360> agree<00:36:52.570> everybody<00:36:53.290> agrees
00:36:53.670 --> 00:36:53.680 align:start position:0%
agree surely you agree everybody agrees
00:36:53.680 --> 00:36:55.710 align:start position:0%
agree surely you agree everybody agrees
spending<00:36:54.370> spending<00:36:54.550> spending<00:36:54.790> it's<00:36:55.270> terrible
00:36:55.710 --> 00:36:55.720 align:start position:0%
spending spending spending it's terrible
00:36:55.720 --> 00:36:57.000 align:start position:0%
spending spending spending it's terrible
they'd<00:36:55.930> spend<00:36:56.200> too<00:36:56.350> much<00:36:56.470> blah<00:36:56.740> blah<00:36:56.860> blah
00:36:57.000 --> 00:36:57.010 align:start position:0%
they'd spend too much blah blah blah
00:36:57.010 --> 00:37:00.780 align:start position:0%
they'd spend too much blah blah blah
blah<00:36:57.040> blah<00:36:57.210> but<00:36:58.210> if<00:36:58.450> you<00:36:59.200> understand<00:36:59.770> money<00:37:00.520> is
00:37:00.780 --> 00:37:00.790 align:start position:0%
blah blah but if you understand money is
00:37:00.790 --> 00:37:02.760 align:start position:0%
blah blah but if you understand money is
the<00:37:00.940> lifeblood<00:37:01.180> of<00:37:01.450> a<00:37:01.630> circulation<00:37:02.140> system
00:37:02.760 --> 00:37:02.770 align:start position:0%
the lifeblood of a circulation system
00:37:02.770 --> 00:37:05.760 align:start position:0%
the lifeblood of a circulation system
then<00:37:03.520> you<00:37:03.880> have<00:37:04.120> to<00:37:04.300> acknowledge<00:37:04.480> all<00:37:05.200> of<00:37:05.260> a
00:37:05.760 --> 00:37:05.770 align:start position:0%
then you have to acknowledge all of a
00:37:05.770 --> 00:37:08.400 align:start position:0%
then you have to acknowledge all of a
sudden<00:37:06.100> that<00:37:06.490> the<00:37:06.670> government<00:37:07.180> doesn't<00:37:07.780> spend
00:37:08.400 --> 00:37:08.410 align:start position:0%
sudden that the government doesn't spend
00:37:08.410 --> 00:37:12.150 align:start position:0%
sudden that the government doesn't spend
a<00:37:08.740> dime<00:37:10.200> the<00:37:11.200> federal<00:37:11.590> government<00:37:11.980> the<00:37:12.040> United
00:37:12.150 --> 00:37:12.160 align:start position:0%
a dime the federal government the United
00:37:12.160 --> 00:37:15.590 align:start position:0%
a dime the federal government the United
States<00:37:12.520> of<00:37:12.700> America<00:37:13.090> does<00:37:13.300> not<00:37:13.330> spend<00:37:13.990> a<00:37:14.320> dime
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States of America does not spend a dime
00:37:15.600 --> 00:37:19.460 align:start position:0%
States of America does not spend a dime
what<00:37:16.600> they<00:37:16.780> do<00:37:16.840> is<00:37:17.140> they<00:37:17.320> circulate<00:37:18.010> money
00:37:19.460 --> 00:37:19.470 align:start position:0%
what they do is they circulate money
00:37:19.470 --> 00:37:23.700 align:start position:0%
what they do is they circulate money
right<00:37:20.470> because<00:37:21.430> even<00:37:22.030> the<00:37:22.300> lowliest
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right because even the lowliest
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right because even the lowliest
easiest<00:37:24.190> most<00:37:24.790> useful<00:37:25.480> useless<00:37:26.349> government
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easiest most useful useless government
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easiest most useful useless government
worker<00:37:27.250> is<00:37:28.210> still<00:37:28.480> some<00:37:28.780> small<00:37:29.200> business
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worker is still some small business
00:37:29.349 --> 00:37:35.700 align:start position:0%
worker is still some small business
persons<00:37:29.950> best<00:37:30.400> customer<00:37:31.410> right<00:37:32.410> no<00:37:33.660> any<00:37:34.710> so
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persons best customer right no any so
00:37:35.710 --> 00:37:37.500 align:start position:0%
persons best customer right no any so
there's<00:37:36.099> this<00:37:36.250> conception<00:37:36.760> so<00:37:36.910> spending<00:37:37.420> the
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there's this conception so spending the
00:37:37.510 --> 00:37:40.859 align:start position:0%
there's this conception so spending the
word<00:37:37.660> spending<00:37:38.109> actually<00:37:38.560> means<00:37:38.770> to<00:37:39.310> to<00:37:39.869> to
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word spending actually means to to to
00:37:40.869 --> 00:37:44.970 align:start position:0%
word spending actually means to to to
destroy<00:37:41.470> value<00:37:41.710> right<00:37:42.220> to<00:37:43.230> to<00:37:44.230> extinguish
00:37:44.970 --> 00:37:44.980 align:start position:0%
destroy value right to to extinguish
00:37:44.980 --> 00:37:46.890 align:start position:0%
destroy value right to to extinguish
value<00:37:45.609> but<00:37:46.359> the<00:37:46.450> government<00:37:46.720> doesn't
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value but the government doesn't
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value but the government doesn't
actually<00:37:48.089> push<00:37:49.089> our<00:37:49.270> money<00:37:49.480> into<00:37:49.869> tax<00:37:50.200> dollars
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actually push our money into tax dollars
00:37:50.740 --> 00:37:54.390 align:start position:0%
actually push our money into tax dollars
into<00:37:50.890> piles<00:37:51.130> and<00:37:51.369> burn<00:37:51.520> it<00:37:52.020> it<00:37:53.020> goes<00:37:53.230> in<00:37:53.470> and<00:37:53.680> it
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into piles and burn it it goes in and it
00:37:54.400 --> 00:37:56.099 align:start position:0%
into piles and burn it it goes in and it
comes<00:37:54.609> out<00:37:54.730> somewhere<00:37:55.210> else<00:37:55.240> now<00:37:55.630> we<00:37:55.930> can
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comes out somewhere else now we can
00:37:56.109 --> 00:37:59.430 align:start position:0%
comes out somewhere else now we can
argue<00:37:56.290> about<00:37:56.970> how<00:37:57.970> effective<00:37:58.660> the<00:37:58.869> places<00:37:59.260> are
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argue about how effective the places are
00:37:59.440 --> 00:38:01.650 align:start position:0%
argue about how effective the places are
that<00:37:59.650> they<00:37:59.800> you<00:38:00.430> know<00:38:00.460> they<00:38:00.760> circulate<00:38:01.359> it<00:38:01.480> to
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that they you know they circulate it to
00:38:01.660 --> 00:38:03.900 align:start position:0%
that they you know they circulate it to
and<00:38:01.869> you<00:38:01.930> can<00:38:02.050> have<00:38:02.200> a<00:38:02.230> very<00:38:02.589> robust<00:38:03.460> Civic
00:38:03.900 --> 00:38:03.910 align:start position:0%
and you can have a very robust Civic
00:38:03.910 --> 00:38:05.940 align:start position:0%
and you can have a very robust Civic
conversation<00:38:04.599> about<00:38:04.810> what<00:38:05.050> the<00:38:05.170> best<00:38:05.440> ways<00:38:05.920> to
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conversation about what the best ways to
00:38:05.950 --> 00:38:09.720 align:start position:0%
conversation about what the best ways to
circulate<00:38:06.670> money<00:38:06.910> are<00:38:07.530> but<00:38:08.530> the<00:38:09.070> money<00:38:09.310> is<00:38:09.520> not
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circulate money are but the money is not
00:38:09.730 --> 00:38:12.540 align:start position:0%
circulate money are but the money is not
destroyed<00:38:10.270> it<00:38:10.839> is<00:38:11.050> circulated<00:38:11.710> and<00:38:11.859> this<00:38:12.369> is
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destroyed it is circulated and this is
00:38:12.550 --> 00:38:15.240 align:start position:0%
destroyed it is circulated and this is
why<00:38:12.790> I<00:38:13.270> mean<00:38:14.020> this<00:38:14.140> is<00:38:14.200> a<00:38:14.320> great<00:38:14.619> conundrum<00:38:14.920> for
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why I mean this is a great conundrum for
00:38:15.250 --> 00:38:17.190 align:start position:0%
why I mean this is a great conundrum for
the<00:38:15.369> right<00:38:15.490> right<00:38:15.970> how<00:38:16.390> can<00:38:16.450> it<00:38:16.750> be<00:38:16.780> that
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the right right how can it be that
00:38:17.200 --> 00:38:19.140 align:start position:0%
the right right how can it be that
government<00:38:17.950> spending<00:38:18.280> goes<00:38:18.460> up<00:38:18.700> every<00:38:19.119> year
00:38:19.140 --> 00:38:19.150 align:start position:0%
government spending goes up every year
00:38:19.150 --> 00:38:22.349 align:start position:0%
government spending goes up every year
and<00:38:20.220> yet<00:38:21.220> the<00:38:21.460> society<00:38:21.910> becomes<00:38:22.180> more
00:38:22.349 --> 00:38:22.359 align:start position:0%
and yet the society becomes more
00:38:22.359 --> 00:38:25.320 align:start position:0%
and yet the society becomes more
prosperous<00:38:23.520> because<00:38:24.520> if<00:38:24.640> you<00:38:24.760> understand<00:38:25.210> it
00:38:25.320 --> 00:38:25.330 align:start position:0%
prosperous because if you understand it
00:38:25.330 --> 00:38:26.730 align:start position:0%
prosperous because if you understand it
is<00:38:25.450> spending<00:38:25.810> it's<00:38:26.020> like<00:38:26.230> destroying
00:38:26.730 --> 00:38:26.740 align:start position:0%
is spending it's like destroying
00:38:26.740 --> 00:38:30.180 align:start position:0%
is spending it's like destroying
destroying<00:38:27.400> the<00:38:27.490> money<00:38:27.640> right<00:38:28.950> but<00:38:29.950> it's<00:38:30.099> not
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destroying the money right but it's not
00:38:30.190 --> 00:38:33.630 align:start position:0%
destroying the money right but it's not
destroyed<00:38:30.640> it<00:38:30.880> circulated<00:38:31.650> so<00:38:32.650> that<00:38:33.520> is
00:38:33.630 --> 00:38:33.640 align:start position:0%
destroyed it circulated so that is
00:38:33.640 --> 00:38:36.900 align:start position:0%
destroyed it circulated so that is
actually<00:38:33.880> a<00:38:33.910> great<00:38:34.089> segue<00:38:34.330> into<00:38:34.630> this<00:38:35.250> last<00:38:36.250> of
00:38:36.900 --> 00:38:36.910 align:start position:0%
actually a great segue into this last of
00:38:36.910 --> 00:38:37.920 align:start position:0%
actually a great segue into this last of
the<00:38:37.060> chunks<00:38:37.359> that<00:38:37.390> we<00:38:37.540> want<00:38:37.690> to<00:38:37.750> talk<00:38:37.900> about
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the chunks that we want to talk about
00:38:37.930 --> 00:38:39.599 align:start position:0%
the chunks that we want to talk about
which<00:38:38.320> is<00:38:38.349> the<00:38:38.530> role<00:38:38.770> of<00:38:38.800> government<00:38:39.070> and<00:38:39.460> the
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which is the role of government and the
00:38:39.609 --> 00:38:41.490 align:start position:0%
which is the role of government and the
ways<00:38:39.760> in<00:38:39.940> which<00:38:39.970> this<00:38:40.330> world<00:38:41.050> view<00:38:41.349> this
00:38:41.490 --> 00:38:41.500 align:start position:0%
ways in which this world view this
00:38:41.500 --> 00:38:43.620 align:start position:0%
ways in which this world view this
garden<00:38:41.830> brain<00:38:42.040> view<00:38:42.400> makes<00:38:43.000> you<00:38:43.119> rethink<00:38:43.330> the
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garden brain view makes you rethink the
00:38:43.630 --> 00:38:47.430 align:start position:0%
garden brain view makes you rethink the
role<00:38:43.780> of<00:38:43.810> government<00:38:44.190> the<00:38:45.420> and<00:38:46.420> the<00:38:47.200> way<00:38:47.290> we
00:38:47.430 --> 00:38:47.440 align:start position:0%
role of government the and the way we
00:38:47.440 --> 00:38:51.030 align:start position:0%
role of government the and the way we
would<00:38:47.589> distill<00:38:48.040> this<00:38:49.410> is<00:38:50.410> the<00:38:50.530> following<00:38:50.920> let
00:38:51.030 --> 00:38:51.040 align:start position:0%
would distill this is the following let
00:38:51.040 --> 00:38:52.589 align:start position:0%
would distill this is the following let
me<00:38:51.099> unpack<00:38:51.400> this<00:38:51.640> statement<00:38:52.060> here<00:38:52.089> big<00:38:52.390> what
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me unpack this statement here big what
00:38:52.599 --> 00:38:56.550 align:start position:0%
me unpack this statement here big what
small<00:38:53.080> how<00:38:53.280> so<00:38:54.280> a<00:38:54.580> lot<00:38:54.880> of<00:38:54.910> what<00:38:55.119> happens<00:38:55.560> today
00:38:56.550 --> 00:38:56.560 align:start position:0%
small how so a lot of what happens today
00:38:56.560 --> 00:38:59.160 align:start position:0%
small how so a lot of what happens today
one<00:38:57.160> of<00:38:57.190> the<00:38:57.310> ways<00:38:57.550> in<00:38:57.940> which<00:38:58.000> our<00:38:58.420> politics<00:38:58.900> is
00:38:59.160 --> 00:38:59.170 align:start position:0%
one of the ways in which our politics is
00:38:59.170 --> 00:39:03.030 align:start position:0%
one of the ways in which our politics is
in<00:38:59.560> such<00:39:00.130> a<00:39:00.339> tired<00:39:01.140> Groundhog<00:39:02.140> Day<00:39:02.170> repeating
00:39:03.030 --> 00:39:03.040 align:start position:0%
in such a tired Groundhog Day repeating
00:39:03.040 --> 00:39:06.320 align:start position:0%
in such a tired Groundhog Day repeating
loop<00:39:03.220> of<00:39:03.369> the<00:39:03.520> same<00:39:03.820> old<00:39:04.230> useless<00:39:05.230> tropes<00:39:05.859> and
00:39:06.320 --> 00:39:06.330 align:start position:0%
loop of the same old useless tropes and
00:39:06.330 --> 00:39:09.540 align:start position:0%
loop of the same old useless tropes and
rhetorical<00:39:07.330> frames<00:39:07.660> is<00:39:08.589> this<00:39:09.010> argument<00:39:09.310> that
00:39:09.540 --> 00:39:09.550 align:start position:0%
rhetorical frames is this argument that
00:39:09.550 --> 00:39:12.060 align:start position:0%
rhetorical frames is this argument that
goes<00:39:09.730> on<00:39:09.910> between<00:39:10.920> Republicans<00:39:11.920> Democrats
00:39:12.060 --> 00:39:12.070 align:start position:0%
goes on between Republicans Democrats
00:39:12.070 --> 00:39:13.980 align:start position:0%
goes on between Republicans Democrats
between<00:39:12.849> small<00:39:13.300> government<00:39:13.540> and<00:39:13.869> big
00:39:13.980 --> 00:39:13.990 align:start position:0%
between small government and big
00:39:13.990 --> 00:39:16.680 align:start position:0%
between small government and big
government<00:39:14.140> right<00:39:15.099> that<00:39:15.550> our<00:39:15.640> whole<00:39:15.820> idea<00:39:16.599> of
00:39:16.680 --> 00:39:16.690 align:start position:0%
government right that our whole idea of
00:39:16.690 --> 00:39:18.870 align:start position:0%
government right that our whole idea of
the<00:39:17.500> role<00:39:17.710> of<00:39:17.740> government<00:39:17.980> is<00:39:18.339> one<00:39:18.730> to<00:39:18.820> be
00:39:18.870 --> 00:39:18.880 align:start position:0%
the role of government is one to be
00:39:18.880 --> 00:39:21.089 align:start position:0%
the role of government is one to be
evaluated<00:39:19.510> on<00:39:19.630> a<00:39:19.660> on<00:39:20.410> a<00:39:20.470> scale<00:39:20.770> of<00:39:20.800> bigness
00:39:21.089 --> 00:39:21.099 align:start position:0%
evaluated on a on a scale of bigness
00:39:21.099 --> 00:39:23.820 align:start position:0%
evaluated on a on a scale of bigness
versus<00:39:21.609> smallness<00:39:21.880> and<00:39:22.720> one<00:39:23.650> of<00:39:23.740> the
00:39:23.820 --> 00:39:23.830 align:start position:0%
versus smallness and one of the
00:39:23.830 --> 00:39:26.490 align:start position:0%
versus smallness and one of the
arguments<00:39:24.070> that<00:39:24.280> we<00:39:24.430> make<00:39:24.640> here<00:39:25.020> in<00:39:26.020> in<00:39:26.320> this
00:39:26.490 --> 00:39:26.500 align:start position:0%
arguments that we make here in in this
00:39:26.500 --> 00:39:30.089 align:start position:0%
arguments that we make here in in this
book<00:39:26.710> is<00:39:26.920> that<00:39:27.430> that<00:39:27.700> is<00:39:27.730> a<00:39:28.740> overly<00:39:29.740> simplistic
00:39:30.089 --> 00:39:30.099 align:start position:0%
book is that that is a overly simplistic
00:39:30.099 --> 00:39:32.250 align:start position:0%
book is that that is a overly simplistic
way<00:39:30.310> to<00:39:30.490> look<00:39:30.700> at<00:39:30.790> things<00:39:31.000> that<00:39:31.780> the<00:39:31.930> right<00:39:32.109> way
00:39:32.250 --> 00:39:32.260 align:start position:0%
way to look at things that the right way
00:39:32.260 --> 00:39:33.810 align:start position:0%
way to look at things that the right way
to<00:39:32.320> think<00:39:32.380> about<00:39:32.589> government<00:39:33.190> is<00:39:33.310> that<00:39:33.609> what
00:39:33.810 --> 00:39:33.820 align:start position:0%
to think about government is that what
00:39:33.820 --> 00:39:35.640 align:start position:0%
to think about government is that what
we<00:39:33.940> want<00:39:34.300> is<00:39:34.510> a<00:39:34.540> government<00:39:34.750> that<00:39:35.080> is<00:39:35.140> big<00:39:35.500> on
00:39:35.640 --> 00:39:35.650 align:start position:0%
we want is a government that is big on
00:39:35.650 --> 00:39:38.390 align:start position:0%
we want is a government that is big on
the<00:39:35.770> what<00:39:36.040> but<00:39:36.880> small<00:39:37.300> on<00:39:37.540> the<00:39:37.660> how<00:39:37.839> a
00:39:38.390 --> 00:39:38.400 align:start position:0%
the what but small on the how a
00:39:38.400 --> 00:39:40.950 align:start position:0%
the what but small on the how a
government<00:39:39.400> that<00:39:39.460> sets<00:39:39.910> great<00:39:40.180> goals<00:39:40.630> and
00:39:40.950 --> 00:39:40.960 align:start position:0%
government that sets great goals and
00:39:40.960 --> 00:39:43.290 align:start position:0%
government that sets great goals and
direction<00:39:41.080> and<00:39:41.589> has<00:39:42.339> a<00:39:42.369> sense<00:39:42.730> of<00:39:42.820> strategy
00:39:43.290 --> 00:39:43.300 align:start position:0%
direction and has a sense of strategy
00:39:43.300 --> 00:39:46.380 align:start position:0%
direction and has a sense of strategy
but<00:39:44.290> then<00:39:44.500> is<00:39:44.740> far<00:39:45.220> more<00:39:45.460> hands-off<00:39:46.119> and
00:39:46.380 --> 00:39:46.390 align:start position:0%
but then is far more hands-off and
00:39:46.390 --> 00:39:50.040 align:start position:0%
but then is far more hands-off and
agnostic<00:39:46.930> as<00:39:47.080> to<00:39:47.109> how<00:39:47.470> citizens<00:39:49.050> local
00:39:50.040 --> 00:39:50.050 align:start position:0%
agnostic as to how citizens local
00:39:50.050 --> 00:39:51.990 align:start position:0%
agnostic as to how citizens local
governments<00:39:50.500> individuals<00:39:51.190> actually<00:39:51.880> go
00:39:51.990 --> 00:39:52.000 align:start position:0%
governments individuals actually go
00:39:52.000 --> 00:39:54.300 align:start position:0%
governments individuals actually go
after<00:39:52.359> getting<00:39:52.630> those<00:39:52.750> goals<00:39:53.050> right<00:39:53.710> now<00:39:54.160> this
00:39:54.300 --> 00:39:54.310 align:start position:0%
after getting those goals right now this
00:39:54.310 --> 00:39:56.010 align:start position:0%
after getting those goals right now this
is<00:39:54.490> one<00:39:54.670> signal<00:39:55.150> example<00:39:55.630> of<00:39:55.750> what<00:39:55.869> we<00:39:55.990> were
00:39:56.010 --> 00:39:56.020 align:start position:0%
is one signal example of what we were
00:39:56.020 --> 00:39:57.540 align:start position:0%
is one signal example of what we were
describing<00:39:56.410> earlier<00:39:56.650> is<00:39:56.980> kind<00:39:57.160> of<00:39:57.220> orthogonal
00:39:57.540 --> 00:39:57.550 align:start position:0%
describing earlier is kind of orthogonal
00:39:57.550 --> 00:40:00.120 align:start position:0%
describing earlier is kind of orthogonal
thinking<00:39:58.150> because<00:39:58.480> it's<00:39:58.750> it<00:39:58.990> it<00:39:59.470> may<00:39:59.859> sound
00:40:00.120 --> 00:40:00.130 align:start position:0%
thinking because it's it it may sound
00:40:00.130 --> 00:40:01.770 align:start position:0%
thinking because it's it it may sound
you<00:40:00.760> know<00:40:00.880> there's<00:40:01.030> cognitive<00:40:01.510> dissonance
00:40:01.770 --> 00:40:01.780 align:start position:0%
you know there's cognitive dissonance
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you know there's cognitive dissonance
when<00:40:02.020> you<00:40:02.109> hear<00:40:02.260> this<00:40:02.440> right<00:40:02.830> big<00:40:03.310> goals<00:40:03.609> and
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when you hear this right big goals and
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when you hear this right big goals and
light<00:40:04.720> touch<00:40:04.930> on<00:40:05.140> the<00:40:05.230> means<00:40:05.410> the<00:40:05.710> GD<00:40:06.130> is<00:40:06.220> that
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light touch on the means the GD is that
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light touch on the means the GD is that
a<00:40:06.400> liberal<00:40:06.730> or<00:40:06.849> conservative<00:40:06.880> idea<00:40:07.690> and<00:40:08.500> the
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a liberal or conservative idea and the
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a liberal or conservative idea and the
answer<00:40:08.830> is<00:40:08.859> yes<00:40:09.180> right<00:40:10.180> the<00:40:11.140> answer<00:40:11.500> is<00:40:11.530> very
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answer is yes right the answer is very
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answer is yes right the answer is very
much<00:40:11.890> yes<00:40:12.190> and<00:40:12.460> I<00:40:12.520> think<00:40:12.730> one<00:40:12.910> of<00:40:12.940> the<00:40:13.089> things
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much yes and I think one of the things
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much yes and I think one of the things
that<00:40:13.359> you<00:40:13.869> know<00:40:13.990> listening<00:40:14.470> to<00:40:14.650> what<00:40:15.010> Nick<00:40:15.220> had
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that you know listening to what Nick had
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that you know listening to what Nick had
to<00:40:15.520> say<00:40:15.730> about<00:40:16.589> circulation<00:40:17.589> one<00:40:18.250> thing<00:40:18.369> that
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to say about circulation one thing that
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to say about circulation one thing that
we<00:40:18.580> have<00:40:18.670> to<00:40:18.760> recognize<00:40:19.180> when<00:40:19.510> you<00:40:19.690> talk<00:40:19.900> about
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we have to recognize when you talk about
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we have to recognize when you talk about
circulation<00:40:20.770> and<00:40:20.950> this<00:40:21.040> you<00:40:21.250> know<00:40:21.339> quote
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circulation and this you know quote
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circulation and this you know quote
unquote<00:40:21.670> idea<00:40:22.180> of<00:40:22.270> spending<00:40:22.680> is<00:40:23.680> that<00:40:24.070> one<00:40:24.970> of
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unquote idea of spending is that one of
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unquote idea of spending is that one of
the<00:40:25.089> foundational<00:40:25.630> jobs<00:40:25.960> of<00:40:26.800> government<00:40:27.339> is
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the foundational jobs of government is
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the foundational jobs of government is
to<00:40:28.330> make<00:40:28.690> sure<00:40:28.720> that<00:40:29.430> when<00:40:30.430> you<00:40:30.520> think<00:40:30.730> about
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to make sure that when you think about
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to make sure that when you think about
that<00:40:31.030> big<00:40:31.300> toe<00:40:31.540> clotting<00:40:32.200> up<00:40:32.320> with
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that big toe clotting up with
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that big toe clotting up with
twenty-four<00:40:32.890> percent<00:40:33.040> of<00:40:33.339> the<00:40:34.089> nation's
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twenty-four percent of the nation's
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twenty-four percent of the nation's
lifeblood<00:40:34.839> is<00:40:35.109> to<00:40:35.650> make<00:40:35.830> sure<00:40:35.859> that<00:40:36.070> you<00:40:36.310> don't
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lifeblood is to make sure that you don't
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lifeblood is to make sure that you don't
have<00:40:36.790> that<00:40:36.970> kind<00:40:37.180> of<00:40:37.240> clotting<00:40:37.690> right<00:40:38.140> is<00:40:38.320> to
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have that kind of clotting right is to
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have that kind of clotting right is to
make<00:40:38.619> sure<00:40:38.650> that<00:40:38.830> you<00:40:39.070> don't<00:40:39.250> get<00:40:39.490> monopolies
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make sure that you don't get monopolies
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make sure that you don't get monopolies
of<00:40:40.690> opportunity<00:40:41.380> and<00:40:43.980> self-reinforcing
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of opportunity and self-reinforcing
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of opportunity and self-reinforcing
concentrations<00:40:46.240> not<00:40:46.750> only<00:40:46.930> of<00:40:47.109> wealth<00:40:47.349> but<00:40:47.560> if
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concentrations not only of wealth but if
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concentrations not only of wealth but if
the<00:40:47.770> opportunity<00:40:47.800> to<00:40:48.760> gain<00:40:48.940> more<00:40:49.180> wealth
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the opportunity to gain more wealth
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the opportunity to gain more wealth
right<00:40:50.200> and<00:40:50.410> the<00:40:51.160> role<00:40:51.339> of<00:40:51.369> government<00:40:51.609> here
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right and the role of government here
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right and the role of government here
you<00:40:52.720> know<00:40:52.839> you<00:40:52.900> will<00:40:53.380> hear<00:40:53.589> arguments<00:40:54.160> in<00:40:54.550> one
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you know you will hear arguments in one
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you know you will hear arguments in one
of<00:40:54.970> the<00:40:55.089> frames<00:40:55.359> that's<00:40:55.630> out<00:40:55.750> there<00:40:55.930> is<00:40:56.050> about
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of the frames that's out there is about
00:40:56.349 --> 00:40:58.829 align:start position:0%
of the frames that's out there is about
you<00:40:56.530> know<00:40:56.650> socialist<00:40:57.190> redistribution<00:40:57.839> and
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you know socialist redistribution and
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you know socialist redistribution and
that<00:40:58.990> government<00:40:59.140> should<00:40:59.380> have<00:40:59.619> no<00:40:59.770> hand<00:41:00.070> in
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that government should have no hand in
00:41:00.190 --> 00:41:02.160 align:start position:0%
that government should have no hand in
redistributing<00:41:00.820> wealth<00:41:00.910> and<00:41:01.330> part<00:41:01.960> of<00:41:02.050> our
00:41:02.160 --> 00:41:02.170 align:start position:0%
redistributing wealth and part of our
00:41:02.170 --> 00:41:03.630 align:start position:0%
redistributing wealth and part of our
view<00:41:02.349> is<00:41:02.380> again<00:41:02.740> if<00:41:02.859> you<00:41:02.950> see<00:41:03.160> things<00:41:03.339> through
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view is again if you see things through
00:41:03.640 --> 00:41:05.579 align:start position:0%
view is again if you see things through
the<00:41:03.670> lens<00:41:03.940> that<00:41:04.180> we're<00:41:04.300> offering<00:41:04.510> here<00:41:05.020> you
00:41:05.579 --> 00:41:05.589 align:start position:0%
the lens that we're offering here you
00:41:05.589 --> 00:41:08.000 align:start position:0%
the lens that we're offering here you
realize<00:41:05.920> government<00:41:06.670> is<00:41:06.760> always
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realize government is always
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realize government is always
redistributing<00:41:09.330> government<00:41:10.330> cannot<00:41:10.720> not
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redistributing government cannot not
00:41:11.230 --> 00:41:13.950 align:start position:0%
redistributing government cannot not
redistribute<00:41:11.830> if<00:41:12.400> it's<00:41:13.119> if<00:41:13.450> it's<00:41:13.540> a<00:41:13.660> going
00:41:13.950 --> 00:41:13.960 align:start position:0%
redistribute if it's if it's a going
00:41:13.960 --> 00:41:17.400 align:start position:0%
redistribute if it's if it's a going
concern<00:41:13.990> the<00:41:14.890> only<00:41:15.430> question<00:41:15.940> is<00:41:16.200> in<00:41:17.200> which
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concern the only question is in which
00:41:17.410 --> 00:41:20.730 align:start position:0%
concern the only question is in which
direction<00:41:18.359> that's<00:41:19.359> the<00:41:19.510> only<00:41:19.900> question<00:41:20.349> right
00:41:20.730 --> 00:41:20.740 align:start position:0%
direction that's the only question right
00:41:20.740 --> 00:41:22.260 align:start position:0%
direction that's the only question right
and<00:41:20.920> for<00:41:21.070> the<00:41:21.130> last<00:41:21.280> thirty<00:41:21.580> years<00:41:21.670> we<00:41:22.089> have
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and for the last thirty years we have
00:41:22.270 --> 00:41:23.700 align:start position:0%
and for the last thirty years we have
had<00:41:22.300> a<00:41:22.510> government<00:41:23.080> that<00:41:23.380> has<00:41:23.530> been
00:41:23.700 --> 00:41:23.710 align:start position:0%
had a government that has been
00:41:23.710 --> 00:41:26.640 align:start position:0%
had a government that has been
aggressively<00:41:24.250> redistributing<00:41:24.940> wealth<00:41:25.650> from
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aggressively redistributing wealth from
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aggressively redistributing wealth from
the<00:41:26.740> middle<00:41:27.040> class<00:41:27.250> and<00:41:27.280> the<00:41:27.760> working<00:41:28.450> class
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the middle class and the working class
00:41:28.930 --> 00:41:32.130 align:start position:0%
the middle class and the working class
to<00:41:29.380> the<00:41:29.410> already<00:41:29.680> wealthy<00:41:30.099> right<00:41:31.140> those
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to the already wealthy right those
00:41:32.140 --> 00:41:33.660 align:start position:0%
to the already wealthy right those
statistics<00:41:32.380> those<00:41:32.890> trend<00:41:33.160> lines<00:41:33.339> that<00:41:33.520> Nick
00:41:33.660 --> 00:41:33.670 align:start position:0%
statistics those trend lines that Nick
00:41:33.670 --> 00:41:35.370 align:start position:0%
statistics those trend lines that Nick
described<00:41:34.089> were<00:41:34.359> not<00:41:34.540> accidents<00:41:35.050> they<00:41:35.320> were
00:41:35.370 --> 00:41:35.380 align:start position:0%
described were not accidents they were
00:41:35.380 --> 00:41:36.930 align:start position:0%
described were not accidents they were
not<00:41:35.589> just<00:41:35.859> kind<00:41:36.010> of<00:41:36.040> interesting<00:41:36.550> features<00:41:36.730> of
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not just kind of interesting features of
00:41:36.940 --> 00:41:38.790 align:start position:0%
not just kind of interesting features of
our<00:41:37.180> changing<00:41:37.630> times<00:41:37.900> they<00:41:38.470> were<00:41:38.530> the<00:41:38.650> very
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our changing times they were the very
00:41:38.800 --> 00:41:40.680 align:start position:0%
our changing times they were the very
predictable<00:41:39.339> result<00:41:39.730> of<00:41:39.970> a<00:41:40.480> set<00:41:40.660> of
00:41:40.680 --> 00:41:40.690 align:start position:0%
predictable result of a set of
00:41:40.690 --> 00:41:42.660 align:start position:0%
predictable result of a set of
government<00:41:41.319> choices<00:41:41.680> and<00:41:41.770> policies<00:41:42.250> tax
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government choices and policies tax
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government choices and policies tax
policies<00:41:43.210> to<00:41:43.390> reduce<00:41:43.510> the<00:41:43.810> tax<00:41:44.020> burden<00:41:44.140> on<00:41:44.500> the
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policies to reduce the tax burden on the
00:41:44.920 --> 00:41:46.620 align:start position:0%
policies to reduce the tax burden on the
wealthiest<00:41:45.220> Americans<00:41:45.760> policies<00:41:46.480> to
00:41:46.620 --> 00:41:46.630 align:start position:0%
wealthiest Americans policies to
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wealthiest Americans policies to
disinvest
00:41:47.380 --> 00:41:47.390 align:start position:0%
disinvest
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disinvest
the<00:41:47.420> middle<00:41:47.630> class<00:41:47.869> right<00:41:48.380> and<00:41:48.589> so<00:41:49.069> when<00:41:49.970> you
00:41:50.049 --> 00:41:50.059 align:start position:0%
the middle class right and so when you
00:41:50.059 --> 00:41:51.609 align:start position:0%
the middle class right and so when you
think<00:41:50.240> about<00:41:50.299> a<00:41:50.450> big<00:41:50.779> what<00:41:51.049> small<00:41:51.410> how
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think about a big what small how
00:41:51.619 --> 00:41:53.500 align:start position:0%
think about a big what small how
government<00:41:52.099> you<00:41:52.220> think<00:41:52.490> one<00:41:53.000> of<00:41:53.029> our<00:41:53.180> first
00:41:53.500 --> 00:41:53.510 align:start position:0%
government you think one of our first
00:41:53.510 --> 00:41:55.359 align:start position:0%
government you think one of our first
responsibilities<00:41:54.440> in<00:41:54.619> a<00:41:54.710> shared<00:41:55.099> experience
00:41:55.359 --> 00:41:55.369 align:start position:0%
responsibilities in a shared experience
00:41:55.369 --> 00:41:57.279 align:start position:0%
responsibilities in a shared experience
like<00:41:55.849> this<00:41:56.029> and<00:41:56.210> this<00:41:56.269> democratic<00:41:56.809> republic
00:41:57.279 --> 00:41:57.289 align:start position:0%
like this and this democratic republic
00:41:57.289 --> 00:41:59.950 align:start position:0%
like this and this democratic republic
in<00:41:57.529> a<00:41:58.279> country<00:41:58.670> like<00:41:58.700> this<00:41:58.970> founded<00:41:59.420> on<00:41:59.779> an
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in a country like this founded on an
00:41:59.960 --> 00:42:02.079 align:start position:0%
in a country like this founded on an
idea<00:42:00.289> and<00:42:00.650> not<00:42:00.859> on<00:42:01.039> anything<00:42:01.309> else<00:42:01.609> of<00:42:01.819> blood
00:42:02.079 --> 00:42:02.089 align:start position:0%
idea and not on anything else of blood
00:42:02.089 --> 00:42:04.210 align:start position:0%
idea and not on anything else of blood
or<00:42:02.119> territory<00:42:02.809> or<00:42:02.930> what<00:42:03.049> have<00:42:03.230> you<00:42:03.260> one<00:42:04.069> of<00:42:04.160> the
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or territory or what have you one of the
00:42:04.220 --> 00:42:05.380 align:start position:0%
or territory or what have you one of the
basic<00:42:04.609> things<00:42:04.819> that<00:42:04.880> we<00:42:05.089> should<00:42:05.240> ask
00:42:05.380 --> 00:42:05.390 align:start position:0%
basic things that we should ask
00:42:05.390 --> 00:42:07.059 align:start position:0%
basic things that we should ask
government<00:42:05.869> to<00:42:05.930> do<00:42:06.049> is<00:42:06.260> to<00:42:06.410> make<00:42:06.589> sure<00:42:06.619> that
00:42:07.059 --> 00:42:07.069 align:start position:0%
government to do is to make sure that
00:42:07.069 --> 00:42:09.750 align:start position:0%
government to do is to make sure that
opportunity<00:42:07.700> is<00:42:07.730> continuously<00:42:08.599> recirculated
00:42:09.750 --> 00:42:09.760 align:start position:0%
opportunity is continuously recirculated
00:42:09.760 --> 00:42:12.339 align:start position:0%
opportunity is continuously recirculated
right<00:42:10.760> that's<00:42:11.180> one<00:42:11.450> of<00:42:11.569> the<00:42:11.660> biggest<00:42:11.900> what's
00:42:12.339 --> 00:42:12.349 align:start position:0%
right that's one of the biggest what's
00:42:12.349 --> 00:42:14.680 align:start position:0%
right that's one of the biggest what's
in<00:42:12.559> a<00:42:12.619> big<00:42:12.829> what<00:42:13.039> list<00:42:13.369> that's<00:42:14.240> that<00:42:14.480> if<00:42:14.569> the
00:42:14.680 --> 00:42:14.690 align:start position:0%
in a big what list that's that if the
00:42:14.690 --> 00:42:15.849 align:start position:0%
in a big what list that's that if the
government<00:42:15.019> is<00:42:15.049> not<00:42:15.200> doing<00:42:15.260> that<00:42:15.559> if<00:42:15.769> the
00:42:15.849 --> 00:42:15.859 align:start position:0%
government is not doing that if the
00:42:15.859 --> 00:42:17.140 align:start position:0%
government is not doing that if the
American<00:42:16.309> government<00:42:16.400> is<00:42:16.700> not<00:42:16.819> doing<00:42:16.880> that
00:42:17.140 --> 00:42:17.150 align:start position:0%
American government is not doing that
00:42:17.150 --> 00:42:19.180 align:start position:0%
American government is not doing that
then<00:42:17.750> you<00:42:17.869> truly<00:42:18.230> can<00:42:18.470> and<00:42:18.650> should<00:42:18.740> be<00:42:18.799> asking
00:42:19.180 --> 00:42:19.190 align:start position:0%
then you truly can and should be asking
00:42:19.190 --> 00:42:21.370 align:start position:0%
then you truly can and should be asking
what<00:42:19.400> the<00:42:19.549> heck<00:42:19.700> is<00:42:19.849> it<00:42:19.970> for<00:42:20.180> right<00:42:20.990> what<00:42:21.260> is
00:42:21.370 --> 00:42:21.380 align:start position:0%
what the heck is it for right what is
00:42:21.380 --> 00:42:22.930 align:start position:0%
what the heck is it for right what is
this<00:42:21.529> game<00:42:21.740> actually<00:42:21.950> rigged<00:42:22.339> to<00:42:22.369> do<00:42:22.670> and<00:42:22.819> to
00:42:22.930 --> 00:42:22.940 align:start position:0%
this game actually rigged to do and to
00:42:22.940 --> 00:42:26.410 align:start position:0%
this game actually rigged to do and to
produce<00:42:23.230> and<00:42:24.230> our<00:42:24.890> idea<00:42:25.339> here<00:42:25.819> in<00:42:25.940> thinking
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produce and our idea here in thinking
00:42:26.420 --> 00:42:29.589 align:start position:0%
produce and our idea here in thinking
about<00:42:26.510> big<00:42:26.839> what<00:42:27.049> small<00:42:27.349> how<00:42:27.589> is<00:42:27.890> that<00:42:28.480> one<00:42:29.480> of
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about big what small how is that one of
00:42:29.599 --> 00:42:31.299 align:start position:0%
about big what small how is that one of
the<00:42:29.660> things<00:42:29.839> that<00:42:29.930> we<00:42:30.140> have<00:42:30.289> right<00:42:30.500> now<00:42:30.529> in<00:42:31.190> our
00:42:31.299 --> 00:42:31.309 align:start position:0%
the things that we have right now in our
00:42:31.309 --> 00:42:33.430 align:start position:0%
the things that we have right now in our
politics<00:42:31.760> on<00:42:32.329> the<00:42:32.450> left<00:42:32.690> we<00:42:32.900> have<00:42:32.930> a<00:42:33.049> lot<00:42:33.410> of
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politics on the left we have a lot of
00:42:33.440 --> 00:42:35.049 align:start position:0%
politics on the left we have a lot of
legacy<00:42:33.799> thinking<00:42:34.339> that<00:42:34.490> we<00:42:34.579> would<00:42:34.730> describe
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legacy thinking that we would describe
00:42:35.059 --> 00:42:38.160 align:start position:0%
legacy thinking that we would describe
shorthand<00:42:35.990> basically<00:42:36.470> as<00:42:36.619> big<00:42:37.309> what<00:42:37.579> big<00:42:37.880> Hal
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shorthand basically as big what big Hal
00:42:38.170 --> 00:42:41.559 align:start position:0%
shorthand basically as big what big Hal
right<00:42:39.170> so<00:42:39.849> liberals<00:42:40.849> from<00:42:40.970> the<00:42:41.269> New<00:42:41.420> Deal
00:42:41.559 --> 00:42:41.569 align:start position:0%
right so liberals from the New Deal
00:42:41.569 --> 00:42:43.240 align:start position:0%
right so liberals from the New Deal
through<00:42:41.900> the<00:42:41.990> Great<00:42:42.140> Society<00:42:42.289> into<00:42:42.890> our<00:42:43.039> own
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through the Great Society into our own
00:42:43.250 --> 00:42:45.759 align:start position:0%
through the Great Society into our own
time<00:42:43.490> today<00:42:43.730> do<00:42:44.390> believe<00:42:44.720> in<00:42:44.839> great<00:42:45.019> goals<00:42:45.260> but
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time today do believe in great goals but
00:42:45.769 --> 00:42:48.069 align:start position:0%
time today do believe in great goals but
also<00:42:45.799> believe<00:42:46.160> in<00:42:46.430> a<00:42:46.519> very<00:42:46.970> robust<00:42:47.539> role<00:42:47.809> for
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also believe in a very robust role for
00:42:48.079 --> 00:42:50.710 align:start position:0%
also believe in a very robust role for
the<00:42:48.170> state<00:42:48.470> and<00:42:49.210> actually<00:42:50.210> figuring<00:42:50.450> out<00:42:50.599> how
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the state and actually figuring out how
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the state and actually figuring out how
we<00:42:50.750> get<00:42:51.079> there<00:42:51.260> right<00:42:52.599> the<00:42:53.599> right<00:42:53.779> by<00:42:54.500> contrast
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we get there right the right by contrast
00:42:54.740 --> 00:42:56.589 align:start position:0%
we get there right the right by contrast
has<00:42:55.549> a<00:42:55.609> view<00:42:55.940> of<00:42:55.970> the<00:42:56.059> world<00:42:56.150> that<00:42:56.269> we<00:42:56.450> would
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has a view of the world that we would
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has a view of the world that we would
shorthand<00:42:57.049> as<00:42:57.200> small<00:42:57.589> what<00:42:57.799> small<00:42:58.369> how<00:42:58.779> right
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shorthand as small what small how right
00:42:59.779 --> 00:43:02.609 align:start position:0%
shorthand as small what small how right
in<00:43:00.710> which<00:43:00.920> they<00:43:01.190> they<00:43:01.579> don't<00:43:01.819> grant
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in which they they don't grant
00:43:02.619 --> 00:43:05.049 align:start position:0%
in which they they don't grant
government<00:43:03.619> national<00:43:03.980> government<00:43:04.369> much<00:43:04.789> role
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government national government much role
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government national government much role
responsibility<00:43:05.839> to<00:43:05.960> set<00:43:06.140> goals<00:43:06.410> for<00:43:06.619> what<00:43:06.890> we
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responsibility to set goals for what we
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responsibility to set goals for what we
want<00:43:07.009> to<00:43:07.250> be<00:43:07.369> together<00:43:07.609> what<00:43:08.029> we<00:43:08.119> want<00:43:08.359> what<00:43:08.630> we
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want to be together what we want what we
00:43:08.690 --> 00:43:10.480 align:start position:0%
want to be together what we want what we
want<00:43:08.839> to<00:43:09.049> go<00:43:09.140> as<00:43:09.289> a<00:43:09.319> country<00:43:09.529> and<00:43:09.829> we<00:43:10.279> certainly
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want to go as a country and we certainly
00:43:10.490 --> 00:43:11.829 align:start position:0%
want to go as a country and we certainly
don't<00:43:10.759> want<00:43:10.880> to<00:43:11.059> have<00:43:11.150> anything<00:43:11.420> to<00:43:11.599> say<00:43:11.750> about
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don't want to have anything to say about
00:43:11.839 --> 00:43:14.470 align:start position:0%
don't want to have anything to say about
how<00:43:12.079> people<00:43:12.349> get<00:43:12.500> there<00:43:12.740> and<00:43:13.519> then<00:43:13.849> you<00:43:14.299> have
00:43:14.470 --> 00:43:14.480 align:start position:0%
how people get there and then you have
00:43:14.480 --> 00:43:17.289 align:start position:0%
how people get there and then you have
you<00:43:14.750> know<00:43:14.839> even<00:43:15.259> farther<00:43:15.559> libertarians<00:43:16.339> who
00:43:17.289 --> 00:43:17.299 align:start position:0%
you know even farther libertarians who
00:43:17.299 --> 00:43:21.579 align:start position:0%
you know even farther libertarians who
we<00:43:17.660> shorthand<00:43:18.730> with<00:43:19.730> all<00:43:20.380> warmth<00:43:21.380> and
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we shorthand with all warmth and
00:43:21.589 --> 00:43:23.710 align:start position:0%
we shorthand with all warmth and
friendliness<00:43:21.890> as<00:43:22.190> a<00:43:22.430> note<00:43:22.759> know<00:43:23.029> what<00:43:23.299> know
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friendliness as a note know what know
00:43:23.720 --> 00:43:28.359 align:start position:0%
friendliness as a note know what know
how<00:43:25.359> view<00:43:26.359> of<00:43:26.450> the<00:43:26.539> world<00:43:26.630> and<00:43:27.250> view<00:43:28.250> of
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how view of the world and view of
00:43:28.369 --> 00:43:31.690 align:start position:0%
how view of the world and view of
government<00:43:28.759> and<00:43:29.509> you<00:43:30.109> know<00:43:30.230> the<00:43:31.039> idea<00:43:31.069> of<00:43:31.490> big
00:43:31.690 --> 00:43:31.700 align:start position:0%
government and you know the idea of big
00:43:31.700 --> 00:43:33.160 align:start position:0%
government and you know the idea of big
what<00:43:31.880> small<00:43:32.119> he'll<00:43:32.359> let<00:43:32.809> me<00:43:32.900> just<00:43:33.049> make<00:43:33.109> it
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what small he'll let me just make it
00:43:33.170 --> 00:43:35.049 align:start position:0%
what small he'll let me just make it
somewhat<00:43:33.500> more<00:43:33.650> concrete<00:43:34.099> and<00:43:34.759> give<00:43:34.970> an
00:43:35.049 --> 00:43:35.059 align:start position:0%
somewhat more concrete and give an
00:43:35.059 --> 00:43:39.099 align:start position:0%
somewhat more concrete and give an
example<00:43:35.329> or<00:43:35.599> two<00:43:35.660> so<00:43:36.609> one<00:43:37.609> example<00:43:37.730> is<00:43:38.240> nick
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example or two so one example is nick
00:43:39.109 --> 00:43:40.509 align:start position:0%
example or two so one example is nick
and<00:43:39.230> i<00:43:39.259> both<00:43:39.319> spent<00:43:39.650> a<00:43:39.680> lot<00:43:39.829> of<00:43:39.859> time<00:43:39.950> on<00:43:40.220> public
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and i both spent a lot of time on public
00:43:40.519 --> 00:43:43.210 align:start position:0%
and i both spent a lot of time on public
education<00:43:40.609> issues<00:43:41.740> and<00:43:42.740> one<00:43:42.950> example
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education issues and one example
00:43:43.220 --> 00:43:45.370 align:start position:0%
education issues and one example
actually<00:43:43.490> comes<00:43:43.880> from<00:43:44.109> the<00:43:45.109> Obama
00:43:45.370 --> 00:43:45.380 align:start position:0%
actually comes from the Obama
00:43:45.380 --> 00:43:48.130 align:start position:0%
actually comes from the Obama
administration's<00:43:46.220> initiative<00:43:46.670> a<00:43:47.299> year<00:43:47.720> or
00:43:48.130 --> 00:43:48.140 align:start position:0%
administration's initiative a year or
00:43:48.140 --> 00:43:51.609 align:start position:0%
administration's initiative a year or
two<00:43:48.289> ago<00:43:48.579> called<00:43:49.579> race<00:43:49.789> to<00:43:49.970> the<00:43:50.000> top<00:43:50.240> now<00:43:51.140> those
00:43:51.609 --> 00:43:51.619 align:start position:0%
two ago called race to the top now those
00:43:51.619 --> 00:43:52.960 align:start position:0%
two ago called race to the top now those
of<00:43:51.650> you<00:43:51.859> familiar<00:43:52.069> with<00:43:52.400> race<00:43:52.549> to<00:43:52.730> the<00:43:52.789> top
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of you familiar with race to the top
00:43:52.970 --> 00:43:54.309 align:start position:0%
of you familiar with race to the top
there<00:43:53.359> are<00:43:53.420> plenty<00:43:53.599> of<00:43:53.750> things<00:43:53.779> to<00:43:53.960> quarrel
00:43:54.309 --> 00:43:54.319 align:start position:0%
there are plenty of things to quarrel
00:43:54.319 --> 00:43:55.900 align:start position:0%
there are plenty of things to quarrel
about<00:43:54.440> in<00:43:54.769> terms<00:43:54.950> of<00:43:55.190> you<00:43:55.400> know<00:43:55.460> how<00:43:55.700> they<00:43:55.849> did
00:43:55.900 --> 00:43:55.910 align:start position:0%
about in terms of you know how they did
00:43:55.910 --> 00:43:57.490 align:start position:0%
about in terms of you know how they did
it<00:43:56.029> what<00:43:56.240> their<00:43:56.359> goals<00:43:56.539> were<00:43:56.660> you<00:43:57.230> know<00:43:57.319> how<00:43:57.440> it
00:43:57.490 --> 00:43:57.500 align:start position:0%
it what their goals were you know how it
00:43:57.500 --> 00:43:58.990 align:start position:0%
it what their goals were you know how it
worked<00:43:57.680> but<00:43:57.950> what<00:43:58.099> this<00:43:58.220> was<00:43:58.400> was<00:43:58.640> an<00:43:58.759> Obama
00:43:58.990 --> 00:43:59.000 align:start position:0%
worked but what this was was an Obama
00:43:59.000 --> 00:44:01.680 align:start position:0%
worked but what this was was an Obama
education<00:43:59.569> initiative<00:44:00.019> that<00:44:00.170> basically<00:44:00.529> said
00:44:01.680 --> 00:44:01.690 align:start position:0%
education initiative that basically said
00:44:01.690 --> 00:44:04.480 align:start position:0%
education initiative that basically said
we<00:44:02.690> as<00:44:02.809> a<00:44:02.839> country<00:44:03.020> are<00:44:03.740> going<00:44:04.010> to<00:44:04.069> set<00:44:04.220> a<00:44:04.250> few
00:44:04.480 --> 00:44:04.490 align:start position:0%
we as a country are going to set a few
00:44:04.490 --> 00:44:06.819 align:start position:0%
we as a country are going to set a few
great<00:44:04.730> goals<00:44:04.940> in<00:44:05.150> education<00:44:05.660> what<00:44:06.170> we<00:44:06.380> in<00:44:06.710> the
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great goals in education what we in the
00:44:06.829 --> 00:44:09.370 align:start position:0%
great goals in education what we in the
administration<00:44:07.280> define<00:44:07.730> is<00:44:07.940> reform<00:44:08.390> right
00:44:09.370 --> 00:44:09.380 align:start position:0%
administration define is reform right
00:44:09.380 --> 00:44:11.410 align:start position:0%
administration define is reform right
we're<00:44:10.099> going<00:44:10.220> to<00:44:10.280> have<00:44:10.400> much<00:44:10.670> more<00:44:10.730> use<00:44:11.390> of
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we're going to have much more use of
00:44:11.420 --> 00:44:13.750 align:start position:0%
we're going to have much more use of
data<00:44:11.690> to<00:44:12.410> evaluate<00:44:12.500> student<00:44:13.400> and<00:44:13.579> teacher
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data to evaluate student and teacher
00:44:13.760 --> 00:44:16.120 align:start position:0%
data to evaluate student and teacher
performance<00:44:14.020> we're<00:44:15.020> going<00:44:15.230> to<00:44:15.380> encourage<00:44:15.799> the
00:44:16.120 --> 00:44:16.130 align:start position:0%
performance we're going to encourage the
00:44:16.130 --> 00:44:17.410 align:start position:0%
performance we're going to encourage the
creation<00:44:16.250> of<00:44:16.520> charter<00:44:16.819> school<00:44:17.059> so<00:44:17.270> they're
00:44:17.410 --> 00:44:17.420 align:start position:0%
creation of charter school so they're
00:44:17.420 --> 00:44:19.390 align:start position:0%
creation of charter school so they're
more<00:44:17.720> models<00:44:18.170> for<00:44:18.589> how<00:44:18.619> we<00:44:18.710> teach<00:44:18.980> students
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more models for how we teach students
00:44:19.400 --> 00:44:21.279 align:start position:0%
more models for how we teach students
we're<00:44:20.089> going<00:44:20.210> to<00:44:20.270> have<00:44:20.390> much<00:44:20.630> more<00:44:20.869> emphasis
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we're going to have much more emphasis
00:44:21.289 --> 00:44:22.839 align:start position:0%
we're going to have much more emphasis
on<00:44:21.440> teacher<00:44:21.650> training<00:44:22.069> a<00:44:22.220> few<00:44:22.549> categories
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on teacher training a few categories
00:44:22.849 --> 00:44:24.549 align:start position:0%
on teacher training a few categories
like<00:44:23.180> this<00:44:23.390> that<00:44:23.660> the<00:44:24.020> administration
00:44:24.549 --> 00:44:24.559 align:start position:0%
like this that the administration
00:44:24.559 --> 00:44:26.650 align:start position:0%
like this that the administration
decided<00:44:24.859> we're<00:44:25.130> great<00:44:25.339> goals<00:44:25.609> and<00:44:25.910> then<00:44:26.510> what
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decided we're great goals and then what
00:44:26.660 --> 00:44:28.630 align:start position:0%
decided we're great goals and then what
they<00:44:26.780> did<00:44:27.020> instead<00:44:27.200> of<00:44:27.470> setting<00:44:27.829> up<00:44:27.920> you<00:44:28.520> know
00:44:28.630 --> 00:44:28.640 align:start position:0%
they did instead of setting up you know
00:44:28.640 --> 00:44:31.000 align:start position:0%
they did instead of setting up you know
a<00:44:28.670> few<00:44:29.089> huge<00:44:29.750> federal<00:44:30.049> programs<00:44:30.589> to<00:44:30.740> actually
00:44:31.000 --> 00:44:31.010 align:start position:0%
a few huge federal programs to actually
00:44:31.010 --> 00:44:33.490 align:start position:0%
a few huge federal programs to actually
actually<00:44:31.490> execute<00:44:32.089> against<00:44:32.329> those<00:44:32.450> goals<00:44:32.750> was
00:44:33.490 --> 00:44:33.500 align:start position:0%
actually execute against those goals was
00:44:33.500 --> 00:44:35.500 align:start position:0%
actually execute against those goals was
they<00:44:33.650> created<00:44:33.859> a<00:44:34.250> pot<00:44:34.460> of<00:44:34.490> money<00:44:34.700> and<00:44:35.000> then
00:44:35.500 --> 00:44:35.510 align:start position:0%
they created a pot of money and then
00:44:35.510 --> 00:44:37.420 align:start position:0%
they created a pot of money and then
said<00:44:35.720> to<00:44:35.750> the<00:44:35.930> States<00:44:36.230> come<00:44:36.980> up<00:44:37.130> with<00:44:37.280> your
00:44:37.420 --> 00:44:37.430 align:start position:0%
said to the States come up with your
00:44:37.430 --> 00:44:39.779 align:start position:0%
said to the States come up with your
best<00:44:37.730> plans<00:44:38.059> for<00:44:38.750> how<00:44:38.809> to<00:44:38.869> get<00:44:39.049> at<00:44:39.200> these<00:44:39.289> goals
00:44:39.779 --> 00:44:39.789 align:start position:0%
best plans for how to get at these goals
00:44:39.789 --> 00:44:44.020 align:start position:0%
best plans for how to get at these goals
give<00:44:40.789> it<00:44:40.910> your<00:44:41.000> best<00:44:41.059> shot<00:44:42.549> get<00:44:43.549> a<00:44:43.579> competition
00:44:44.020 --> 00:44:44.030 align:start position:0%
give it your best shot get a competition
00:44:44.030 --> 00:44:45.670 align:start position:0%
give it your best shot get a competition
going<00:44:44.329> among<00:44:44.599> the<00:44:44.720> states<00:44:44.930> to<00:44:45.109> figure<00:44:45.319> out<00:44:45.470> how
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going among the states to figure out how
00:44:45.680 --> 00:44:48.279 align:start position:0%
going among the states to figure out how
in<00:44:46.069> Washington<00:44:46.970> or<00:44:47.150> how<00:44:47.299> in<00:44:47.510> Delaware<00:44:47.990> and<00:44:48.140> how
00:44:48.279 --> 00:44:48.289 align:start position:0%
in Washington or how in Delaware and how
00:44:48.289 --> 00:44:50.859 align:start position:0%
in Washington or how in Delaware and how
in<00:44:48.410> Texas<00:44:48.859> how<00:44:49.520> in<00:44:49.670> Wyoming<00:44:50.210> people<00:44:50.750> can
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in Texas how in Wyoming people can
00:44:50.869 --> 00:44:52.539 align:start position:0%
in Texas how in Wyoming people can
figure<00:44:51.109> out<00:44:51.170> how<00:44:51.440> they<00:44:51.589> get<00:44:51.799> business<00:44:52.160> leaders
00:44:52.539 --> 00:44:52.549 align:start position:0%
figure out how they get business leaders
00:44:52.549 --> 00:44:54.670 align:start position:0%
figure out how they get business leaders
and<00:44:52.579> teachers<00:44:53.150> unions<00:44:53.750> and<00:44:53.960> parents<00:44:54.559> and
00:44:54.670 --> 00:44:54.680 align:start position:0%
and teachers unions and parents and
00:44:54.680 --> 00:44:56.740 align:start position:0%
and teachers unions and parents and
students<00:44:55.160> and<00:44:55.430> people<00:44:56.119> in<00:44:56.270> the<00:44:56.299> community<00:44:56.690> to
00:44:56.740 --> 00:44:56.750 align:start position:0%
students and people in the community to
00:44:56.750 --> 00:44:58.569 align:start position:0%
students and people in the community to
come<00:44:56.869> together<00:44:56.990> and<00:44:57.230> figure<00:44:57.500> out<00:44:57.530> how<00:44:57.950> you
00:44:58.569 --> 00:44:58.579 align:start position:0%
come together and figure out how you
00:44:58.579 --> 00:45:00.279 align:start position:0%
come together and figure out how you
would<00:44:58.700> reform<00:44:59.450> things<00:44:59.809> in<00:44:59.960> your<00:45:00.079> state
00:45:00.279 --> 00:45:00.289 align:start position:0%
would reform things in your state
00:45:00.289 --> 00:45:01.900 align:start position:0%
would reform things in your state
education<00:45:00.770> system<00:45:01.099> to<00:45:01.190> go<00:45:01.280> after<00:45:01.520> these<00:45:01.640> goals
00:45:01.900 --> 00:45:01.910 align:start position:0%
education system to go after these goals
00:45:01.910 --> 00:45:05.410 align:start position:0%
education system to go after these goals
and<00:45:02.589> what<00:45:03.589> was<00:45:03.740> what<00:45:04.280> ensued<00:45:04.700> was<00:45:04.730> one<00:45:05.210> of<00:45:05.299> the
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and what was what ensued was one of the
00:45:05.420 --> 00:45:07.599 align:start position:0%
and what was what ensued was one of the
most<00:45:05.630> incredibly<00:45:06.319> effective<00:45:06.680> leveraged<00:45:07.339> use
00:45:07.599 --> 00:45:07.609 align:start position:0%
most incredibly effective leveraged use
00:45:07.609 --> 00:45:10.120 align:start position:0%
most incredibly effective leveraged use
of<00:45:07.880> federal<00:45:08.119> dollars<00:45:08.359> to<00:45:09.140> be<00:45:09.260> seen<00:45:09.529> in<00:45:09.829> the
00:45:10.120 --> 00:45:10.130 align:start position:0%
of federal dollars to be seen in the
00:45:10.130 --> 00:45:13.210 align:start position:0%
of federal dollars to be seen in the
education<00:45:10.609> arena<00:45:10.789> in<00:45:11.359> our<00:45:11.599> time<00:45:11.869> right<00:45:12.859> again
00:45:13.210 --> 00:45:13.220 align:start position:0%
education arena in our time right again
00:45:13.220 --> 00:45:14.500 align:start position:0%
education arena in our time right again
you<00:45:13.339> can<00:45:13.369> quarrel<00:45:13.789> with<00:45:13.970> whether<00:45:14.150> you<00:45:14.329> like
00:45:14.500 --> 00:45:14.510 align:start position:0%
you can quarrel with whether you like
00:45:14.510 --> 00:45:16.000 align:start position:0%
you can quarrel with whether you like
charter<00:45:14.839> schools<00:45:15.079> is<00:45:15.230> one<00:45:15.380> of<00:45:15.440> their<00:45:15.559> goals<00:45:15.740> or
00:45:16.000 --> 00:45:16.010 align:start position:0%
charter schools is one of their goals or
00:45:16.010 --> 00:45:17.710 align:start position:0%
charter schools is one of their goals or
whether<00:45:16.160> you<00:45:16.339> like<00:45:16.520> this<00:45:17.059> particular<00:45:17.539> thing
00:45:17.710 --> 00:45:17.720 align:start position:0%
whether you like this particular thing
00:45:17.720 --> 00:45:19.210 align:start position:0%
whether you like this particular thing
or<00:45:17.809> that<00:45:17.930> thing<00:45:18.200> but<00:45:18.380> the<00:45:18.470> strategy<00:45:18.799> the
00:45:19.210 --> 00:45:19.220 align:start position:0%
or that thing but the strategy the
00:45:19.220 --> 00:45:22.390 align:start position:0%
or that thing but the strategy the
methodology<00:45:20.000> of<00:45:20.210> saying<00:45:20.869> big<00:45:21.349> goals<00:45:21.650> and<00:45:21.920> then
00:45:22.390 --> 00:45:22.400 align:start position:0%
methodology of saying big goals and then
00:45:22.400 --> 00:45:23.650 align:start position:0%
methodology of saying big goals and then
setting<00:45:22.730> forth<00:45:23.029> a<00:45:23.119> challenge<00:45:23.510> in<00:45:23.599> a
00:45:23.650 --> 00:45:23.660 align:start position:0%
setting forth a challenge in a
00:45:23.660 --> 00:45:26.170 align:start position:0%
setting forth a challenge in a
competition<00:45:23.990> among<00:45:24.829> people<00:45:25.190> and<00:45:25.339> States<00:45:25.670> to
00:45:26.170 --> 00:45:26.180 align:start position:0%
competition among people and States to
00:45:26.180 --> 00:45:27.880 align:start position:0%
competition among people and States to
go<00:45:26.270> after<00:45:26.539> those<00:45:26.660> goals<00:45:26.960> is<00:45:27.170> one<00:45:27.680> that<00:45:27.799> we
00:45:27.880 --> 00:45:27.890 align:start position:0%
go after those goals is one that we
00:45:27.890 --> 00:45:29.319 align:start position:0%
go after those goals is one that we
think<00:45:28.130> is<00:45:28.220> really<00:45:28.670> important<00:45:29.029> and<00:45:29.089> there<00:45:29.240> are
00:45:29.319 --> 00:45:29.329 align:start position:0%
think is really important and there are
00:45:29.329 --> 00:45:31.569 align:start position:0%
think is really important and there are
other<00:45:29.510> examples<00:45:29.690> of<00:45:30.109> this<00:45:30.289> in<00:45:30.529> pockets<00:45:31.039> of<00:45:31.220> how
00:45:31.569 --> 00:45:31.579 align:start position:0%
other examples of this in pockets of how
00:45:31.579 --> 00:45:34.930 align:start position:0%
other examples of this in pockets of how
government<00:45:32.029> works<00:45:32.260> right<00:45:33.260> in<00:45:33.760> in<00:45:34.760> the
00:45:34.930 --> 00:45:34.940 align:start position:0%
government works right in in the
00:45:34.940 --> 00:45:37.150 align:start position:0%
government works right in in the
sciences<00:45:35.450> and<00:45:35.660> in<00:45:35.779> NASA<00:45:36.020> there's<00:45:36.440> a<00:45:36.529> set<00:45:37.039> of
00:45:37.150 --> 00:45:37.160 align:start position:0%
sciences and in NASA there's a set of
00:45:37.160 --> 00:45:39.609 align:start position:0%
sciences and in NASA there's a set of
Grand<00:45:37.400> Challenges<00:45:38.000> a<00:45:38.210> foot<00:45:38.720> right<00:45:38.900> now<00:45:39.079> where
00:45:39.609 --> 00:45:39.619 align:start position:0%
Grand Challenges a foot right now where
00:45:39.619 --> 00:45:41.319 align:start position:0%
Grand Challenges a foot right now where
NASA<00:45:39.859> even<00:45:40.160> in<00:45:40.400> a<00:45:40.460> time<00:45:40.609> of<00:45:40.670> declining<00:45:41.089> budgets
00:45:41.319 --> 00:45:41.329 align:start position:0%
NASA even in a time of declining budgets
00:45:41.329 --> 00:45:42.970 align:start position:0%
NASA even in a time of declining budgets
in<00:45:41.569> fact<00:45:41.809> especially<00:45:42.289> in<00:45:42.680> a<00:45:42.740> time<00:45:42.920> of
00:45:42.970 --> 00:45:42.980 align:start position:0%
in fact especially in a time of
00:45:42.980 --> 00:45:45.190 align:start position:0%
in fact especially in a time of
declining<00:45:43.460> budgets<00:45:43.700> as<00:45:44.059> recognize<00:45:44.869> that<00:45:45.049> one
00:45:45.190 --> 00:45:45.200 align:start position:0%
declining budgets as recognize that one
00:45:45.200 --> 00:45:47.289 align:start position:0%
declining budgets as recognize that one
of<00:45:45.260> the<00:45:45.319> most<00:45:45.440> effective<00:45:45.890> ways<00:45:46.130> to<00:45:46.520> make<00:45:47.029> use
00:45:47.289 --> 00:45:47.299 align:start position:0%
of the most effective ways to make use
00:45:47.299 --> 00:45:48.549 align:start position:0%
of the most effective ways to make use
of<00:45:47.329> the<00:45:47.569> dollars<00:45:47.930> that<00:45:47.960> they<00:45:48.109> do<00:45:48.260> have<00:45:48.529> their
00:45:48.549 --> 00:45:48.559 align:start position:0%
of the dollars that they do have their
00:45:48.559 --> 00:45:50.920 align:start position:0%
of the dollars that they do have their
disposal<00:45:49.220> is<00:45:49.369> to<00:45:49.970> follow<00:45:50.210> this<00:45:50.390> kind<00:45:50.630> of<00:45:50.690> big
00:45:50.920 --> 00:45:50.930 align:start position:0%
disposal is to follow this kind of big
00:45:50.930 --> 00:45:54.430 align:start position:0%
disposal is to follow this kind of big
what<00:45:51.140> small<00:45:51.500> how<00:45:51.740> issue<00:45:52.099> challenge<00:45:53.440> approach
00:45:54.430 --> 00:45:54.440 align:start position:0%
what small how issue challenge approach
00:45:54.440 --> 00:45:56.620 align:start position:0%
what small how issue challenge approach
to<00:45:55.160> how<00:45:55.279> they<00:45:55.460> govern<00:45:55.760> yeah<00:45:56.000> there's<00:45:56.390> another
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to how they govern yeah there's another
00:45:56.630 --> 00:45:58.750 align:start position:0%
to how they govern yeah there's another
way<00:45:56.809> to<00:45:56.950> understand<00:45:57.950> big<00:45:58.190> what<00:45:58.339> small<00:45:58.549> hell
00:45:58.750 --> 00:45:58.760 align:start position:0%
way to understand big what small hell
00:45:58.760 --> 00:46:01.750 align:start position:0%
way to understand big what small hell
which<00:45:58.940> is<00:45:59.119> evolution<00:46:00.579> literally<00:46:01.579> in
00:46:01.750 --> 00:46:01.760 align:start position:0%
which is evolution literally in
00:46:01.760 --> 00:46:03.819 align:start position:0%
which is evolution literally in
evolutionary<00:46:02.390> process<00:46:02.809> and<00:46:03.020> one<00:46:03.650> of<00:46:03.770> the
00:46:03.819 --> 00:46:03.829 align:start position:0%
evolutionary process and one of the
00:46:03.829 --> 00:46:05.380 align:start position:0%
evolutionary process and one of the
things<00:46:03.859> when<00:46:04.430> you<00:46:04.520> think<00:46:04.760> about<00:46:04.819> this<00:46:05.119> what
00:46:05.380 --> 00:46:05.390 align:start position:0%
things when you think about this what
00:46:05.390 --> 00:46:07.390 align:start position:0%
things when you think about this what
what<00:46:05.990> that<00:46:06.140> means<00:46:06.440> is<00:46:06.740> when<00:46:06.920> you<00:46:07.010> set<00:46:07.279> in
00:46:07.390 --> 00:46:07.400 align:start position:0%
what that means is when you set in
00:46:07.400 --> 00:46:08.799 align:start position:0%
what that means is when you set in
motion<00:46:07.549> that<00:46:07.849> when<00:46:08.240> you<00:46:08.299> issue<00:46:08.450> a<00:46:08.569> challenge
00:46:08.799 --> 00:46:08.809 align:start position:0%
motion that when you issue a challenge
00:46:08.809 --> 00:46:10.569 align:start position:0%
motion that when you issue a challenge
and<00:46:09.140> set<00:46:09.349> in<00:46:09.440> motion<00:46:09.559> that<00:46:09.799> kind<00:46:10.039> of<00:46:10.130> challenge
00:46:10.569 --> 00:46:10.579 align:start position:0%
and set in motion that kind of challenge
00:46:10.579 --> 00:46:13.870 align:start position:0%
and set in motion that kind of challenge
and<00:46:10.730> cut<00:46:11.510> competition<00:46:12.279> what<00:46:13.279> you're<00:46:13.430> doing<00:46:13.760> is
00:46:13.870 --> 00:46:13.880 align:start position:0%
and cut competition what you're doing is
00:46:13.880 --> 00:46:14.920 align:start position:0%
and cut competition what you're doing is
setting<00:46:14.089> in<00:46:14.270> motion<00:46:14.420> for
00:46:14.920 --> 00:46:14.930 align:start position:0%
setting in motion for
00:46:14.930 --> 00:46:17.859 align:start position:0%
setting in motion for
forces<00:46:15.170> of<00:46:15.410> evolution<00:46:15.849> right<00:46:16.849> and<00:46:17.059> our<00:46:17.510> view
00:46:17.859 --> 00:46:17.869 align:start position:0%
forces of evolution right and our view
00:46:17.869 --> 00:46:20.200 align:start position:0%
forces of evolution right and our view
here<00:46:18.170> is<00:46:18.200> that<00:46:18.650> one<00:46:19.490> of<00:46:19.609> the<00:46:19.670> things<00:46:19.730> that<00:46:19.970> we
00:46:20.200 --> 00:46:20.210 align:start position:0%
here is that one of the things that we
00:46:20.210 --> 00:46:22.839 align:start position:0%
here is that one of the things that we
have<00:46:20.720> to<00:46:21.109> take<00:46:21.290> care<00:46:21.349> to<00:46:21.920> do<00:46:22.099> is<00:46:22.339> to<00:46:22.460> make<00:46:22.579> sure
00:46:22.839 --> 00:46:22.849 align:start position:0%
have to take care to do is to make sure
00:46:22.849 --> 00:46:25.450 align:start position:0%
have to take care to do is to make sure
that<00:46:23.540> in<00:46:23.780> governing<00:46:24.470> ourselves<00:46:24.589> we<00:46:25.309> are
00:46:25.450 --> 00:46:25.460 align:start position:0%
that in governing ourselves we are
00:46:25.460 --> 00:46:28.089 align:start position:0%
that in governing ourselves we are
continuously<00:46:26.200> asking<00:46:27.200> ourselves<00:46:27.349> is<00:46:27.740> this
00:46:28.089 --> 00:46:28.099 align:start position:0%
continuously asking ourselves is this
00:46:28.099 --> 00:46:31.210 align:start position:0%
continuously asking ourselves is this
adaptive<00:46:28.730> or<00:46:28.910> not<00:46:29.150> is<00:46:29.589> the<00:46:30.589> way<00:46:30.710> government<00:46:30.920> is
00:46:31.210 --> 00:46:31.220 align:start position:0%
adaptive or not is the way government is
00:46:31.220 --> 00:46:33.460 align:start position:0%
adaptive or not is the way government is
working<00:46:31.400> working<00:46:32.089> for<00:46:32.450> us<00:46:32.540> or<00:46:32.750> is<00:46:32.869> this<00:46:33.050> just<00:46:33.109> a
00:46:33.460 --> 00:46:33.470 align:start position:0%
working working for us or is this just a
00:46:33.470 --> 00:46:36.160 align:start position:0%
working working for us or is this just a
legacy<00:46:34.010> holdover<00:46:34.700> of<00:46:34.880> some<00:46:35.420> other<00:46:35.599> good<00:46:35.839> idea
00:46:36.160 --> 00:46:36.170 align:start position:0%
legacy holdover of some other good idea
00:46:36.170 --> 00:46:39.160 align:start position:0%
legacy holdover of some other good idea
some<00:46:36.470> other<00:46:36.680> time<00:46:37.010> right<00:46:37.790> and<00:46:38.000> the<00:46:38.510> ability<00:46:38.930> to
00:46:39.160 --> 00:46:39.170 align:start position:0%
some other time right and the ability to
00:46:39.170 --> 00:46:41.079 align:start position:0%
some other time right and the ability to
continuously<00:46:39.950> adapt<00:46:40.339> to<00:46:40.550> continuously
00:46:41.079 --> 00:46:41.089 align:start position:0%
continuously adapt to continuously
00:46:41.089 --> 00:46:43.420 align:start position:0%
continuously adapt to continuously
evolve<00:46:41.450> and<00:46:41.660> frankly<00:46:42.349> to<00:46:42.500> prune<00:46:42.829> and<00:46:43.069> to<00:46:43.220> weed
00:46:43.420 --> 00:46:43.430 align:start position:0%
evolve and frankly to prune and to weed
00:46:43.430 --> 00:46:46.599 align:start position:0%
evolve and frankly to prune and to weed
and<00:46:44.470> to<00:46:45.470> end<00:46:45.619> things<00:46:45.890> when<00:46:46.190> they're<00:46:46.280> no<00:46:46.460> longer
00:46:46.599 --> 00:46:46.609 align:start position:0%
and to end things when they're no longer
00:46:46.609 --> 00:46:47.920 align:start position:0%
and to end things when they're no longer
working<00:46:46.940> or<00:46:47.180> no<00:46:47.270> longer<00:46:47.420> serving<00:46:47.839> their
00:46:47.920 --> 00:46:47.930 align:start position:0%
working or no longer serving their
00:46:47.930 --> 00:46:51.339 align:start position:0%
working or no longer serving their
purpose<00:46:48.190> is<00:46:49.190> a<00:46:49.250> mindset<00:46:49.640> that<00:46:49.790> is<00:46:50.150> too<00:46:50.720> rare<00:46:50.990> in
00:46:51.339 --> 00:46:51.349 align:start position:0%
purpose is a mindset that is too rare in
00:46:51.349 --> 00:46:52.780 align:start position:0%
purpose is a mindset that is too rare in
government<00:46:51.800> at<00:46:51.890> every<00:46:51.980> level<00:46:52.220> but<00:46:52.520> it's<00:46:52.640> one
00:46:52.780 --> 00:46:52.790 align:start position:0%
government at every level but it's one
00:46:52.790 --> 00:46:54.579 align:start position:0%
government at every level but it's one
of<00:46:52.819> the<00:46:52.970> things<00:46:53.119> that<00:46:53.180> we<00:46:53.329> believe<00:46:53.660> is<00:46:53.869> an
00:46:54.579 --> 00:46:54.589 align:start position:0%
of the things that we believe is an
00:46:54.589 --> 00:46:57.839 align:start position:0%
of the things that we believe is an
essential<00:46:54.829> aspect<00:46:55.099> of<00:46:56.089> a<00:46:56.210> big<00:46:56.359> what<00:46:56.569> small<00:46:57.470> how
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essential aspect of a big what small how
00:46:57.849 --> 00:47:00.339 align:start position:0%
essential aspect of a big what small how
view<00:46:58.849> of<00:46:58.910> the<00:46:58.970> world<00:46:59.059> one<00:46:59.750> last<00:46:59.960> thing<00:47:00.140> that<00:47:00.200> I
00:47:00.339 --> 00:47:00.349 align:start position:0%
view of the world one last thing that I
00:47:00.349 --> 00:47:03.160 align:start position:0%
view of the world one last thing that I
would<00:47:00.410> say<00:47:00.500> about<00:47:00.859> big<00:47:01.099> what's<00:47:01.309> small<00:47:01.550> how<00:47:02.170> as
00:47:03.160 --> 00:47:03.170 align:start position:0%
would say about big what's small how as
00:47:03.170 --> 00:47:04.990 align:start position:0%
would say about big what's small how as
it<00:47:03.230> pertains<00:47:03.710> to<00:47:04.040> some<00:47:04.550> of<00:47:04.640> the<00:47:04.700> points<00:47:04.819> that
00:47:04.990 --> 00:47:05.000 align:start position:0%
it pertains to some of the points that
00:47:05.000 --> 00:47:07.000 align:start position:0%
it pertains to some of the points that
we<00:47:05.150> were<00:47:05.270> making<00:47:05.660> about<00:47:05.839> the<00:47:06.440> economy<00:47:06.680> and
00:47:07.000 --> 00:47:07.010 align:start position:0%
we were making about the economy and
00:47:07.010 --> 00:47:11.079 align:start position:0%
we were making about the economy and
this<00:47:07.520> goes<00:47:07.760> to<00:47:07.910> the<00:47:07.970> idea<00:47:08.240> of<00:47:08.450> regulation<00:47:10.089> so
00:47:11.079 --> 00:47:11.089 align:start position:0%
this goes to the idea of regulation so
00:47:11.089 --> 00:47:12.940 align:start position:0%
this goes to the idea of regulation so
again<00:47:11.660> one<00:47:11.960> of<00:47:12.079> the<00:47:12.140> tropes<00:47:12.440> that<00:47:12.559> we<00:47:12.740> labor
00:47:12.940 --> 00:47:12.950 align:start position:0%
again one of the tropes that we labor
00:47:12.950 --> 00:47:16.390 align:start position:0%
again one of the tropes that we labor
against<00:47:13.460> as<00:47:14.390> progressives<00:47:15.050> in<00:47:15.559> the<00:47:16.220> political
00:47:16.390 --> 00:47:16.400 align:start position:0%
against as progressives in the political
00:47:16.400 --> 00:47:18.670 align:start position:0%
against as progressives in the political
conversation<00:47:17.119> right<00:47:17.210> now<00:47:17.270> is<00:47:17.720> generally
00:47:18.670 --> 00:47:18.680 align:start position:0%
conversation right now is generally
00:47:18.680 --> 00:47:22.059 align:start position:0%
conversation right now is generally
people<00:47:18.829> understand<00:47:19.660> regulation<00:47:20.660> bad<00:47:21.069> right
00:47:22.059 --> 00:47:22.069 align:start position:0%
people understand regulation bad right
00:47:22.069 --> 00:47:25.059 align:start position:0%
people understand regulation bad right
regulation<00:47:22.700> equals<00:47:23.059> evil<00:47:23.319> right<00:47:24.319> and<00:47:24.530> the
00:47:25.059 --> 00:47:25.069 align:start position:0%
regulation equals evil right and the
00:47:25.069 --> 00:47:27.430 align:start position:0%
regulation equals evil right and the
less<00:47:25.280> regulation<00:47:25.880> the<00:47:26.000> better<00:47:26.180> and<00:47:26.420> that<00:47:27.230> is<00:47:27.410> a
00:47:27.430 --> 00:47:27.440 align:start position:0%
less regulation the better and that is a
00:47:27.440 --> 00:47:29.559 align:start position:0%
less regulation the better and that is a
very<00:47:27.710> simple<00:47:28.040> kind<00:47:28.460> of<00:47:28.579> linear<00:47:29.210> formula
00:47:29.559 --> 00:47:29.569 align:start position:0%
very simple kind of linear formula
00:47:29.569 --> 00:47:31.059 align:start position:0%
very simple kind of linear formula
people<00:47:30.020> have<00:47:30.200> there<00:47:30.440> is<00:47:30.530> just<00:47:30.680> a<00:47:30.770> straight
00:47:31.059 --> 00:47:31.069 align:start position:0%
people have there is just a straight
00:47:31.069 --> 00:47:32.500 align:start position:0%
people have there is just a straight
line<00:47:31.220> graph<00:47:31.609> that<00:47:31.849> people<00:47:32.119> have<00:47:32.329> in<00:47:32.480> their
00:47:32.500 --> 00:47:32.510 align:start position:0%
line graph that people have in their
00:47:32.510 --> 00:47:35.140 align:start position:0%
line graph that people have in their
heads<00:47:32.809> that<00:47:33.109> the<00:47:34.099> more<00:47:34.339> regulation<00:47:34.880> you<00:47:34.970> have
00:47:35.140 --> 00:47:35.150 align:start position:0%
heads that the more regulation you have
00:47:35.150 --> 00:47:37.120 align:start position:0%
heads that the more regulation you have
the<00:47:35.390> more<00:47:35.569> it<00:47:35.690> stifles<00:47:36.290> business<00:47:36.680> the<00:47:36.859> more<00:47:36.890> it
00:47:37.120 --> 00:47:37.130 align:start position:0%
the more it stifles business the more it
00:47:37.130 --> 00:47:38.650 align:start position:0%
the more it stifles business the more it
chokes<00:47:37.460> the<00:47:37.640> economy<00:47:38.059> and<00:47:38.240> the<00:47:38.480> less
00:47:38.650 --> 00:47:38.660 align:start position:0%
chokes the economy and the less
00:47:38.660 --> 00:47:40.900 align:start position:0%
chokes the economy and the less
regulation<00:47:39.230> you<00:47:39.319> have<00:47:39.500> the<00:47:39.799> more<00:47:40.010> the<00:47:40.430> economy
00:47:40.900 --> 00:47:40.910 align:start position:0%
regulation you have the more the economy
00:47:40.910 --> 00:47:42.069 align:start position:0%
regulation you have the more the economy
is<00:47:41.000> able<00:47:41.180> to<00:47:41.270> flourish<00:47:41.480> and<00:47:41.660> people<00:47:41.900> are<00:47:41.990> able
00:47:42.069 --> 00:47:42.079 align:start position:0%
is able to flourish and people are able
00:47:42.079 --> 00:47:45.160 align:start position:0%
is able to flourish and people are able
to<00:47:42.230> thrive<00:47:42.470> right<00:47:43.099> and<00:47:43.339> I<00:47:44.240> guess<00:47:44.660> one<00:47:44.960> of<00:47:45.109> the
00:47:45.160 --> 00:47:45.170 align:start position:0%
to thrive right and I guess one of the
00:47:45.170 --> 00:47:48.220 align:start position:0%
to thrive right and I guess one of the
ways<00:47:45.349> to<00:47:45.710> give<00:47:46.160> lie<00:47:46.400> to<00:47:46.460> that<00:47:46.790> notion<00:47:47.000> is<00:47:47.900> to
00:47:48.220 --> 00:47:48.230 align:start position:0%
ways to give lie to that notion is to
00:47:48.230 --> 00:47:50.109 align:start position:0%
ways to give lie to that notion is to
consider<00:47:48.859> how<00:47:49.040> many<00:47:49.220> of<00:47:49.339> us<00:47:49.430> were<00:47:49.579> seatbelts
00:47:50.109 --> 00:47:50.119 align:start position:0%
consider how many of us were seatbelts
00:47:50.119 --> 00:47:51.630 align:start position:0%
consider how many of us were seatbelts
on<00:47:50.240> the<00:47:50.329> way<00:47:50.420> over<00:47:50.450> here<00:47:50.839> if<00:47:50.930> we<00:47:51.020> were<00:47:51.140> driving
00:47:51.630 --> 00:47:51.640 align:start position:0%
on the way over here if we were driving
00:47:51.640 --> 00:47:54.520 align:start position:0%
on the way over here if we were driving
right<00:47:52.640> not<00:47:53.630> only<00:47:53.660> because<00:47:54.049> those<00:47:54.230> seatbelts
00:47:54.520 --> 00:47:54.530 align:start position:0%
right not only because those seatbelts
00:47:54.530 --> 00:47:56.620 align:start position:0%
right not only because those seatbelts
might<00:47:55.309> have<00:47:55.400> saved<00:47:55.549> our<00:47:55.760> lives<00:47:55.910> in<00:47:56.299> an
00:47:56.620 --> 00:47:56.630 align:start position:0%
might have saved our lives in an
00:47:56.630 --> 00:47:58.240 align:start position:0%
might have saved our lives in an
accident<00:47:56.930> or<00:47:57.109> crash<00:47:57.380> but<00:47:57.980> what<00:47:58.099> those
00:47:58.240 --> 00:47:58.250 align:start position:0%
accident or crash but what those
00:47:58.250 --> 00:48:00.520 align:start position:0%
accident or crash but what those
seatbelts<00:47:58.549> did<00:47:59.000> far<00:47:59.450> from<00:47:59.750> actually<00:48:00.170> choking
00:48:00.520 --> 00:48:00.530 align:start position:0%
seatbelts did far from actually choking
00:48:00.530 --> 00:48:02.620 align:start position:0%
seatbelts did far from actually choking
and<00:48:00.799> killing<00:48:01.160> the<00:48:01.250> auto<00:48:01.400> industry<00:48:02.000> was<00:48:02.150> to
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and killing the auto industry was to
00:48:02.630 --> 00:48:04.900 align:start position:0%
and killing the auto industry was to
give<00:48:02.780> rise<00:48:03.079> to<00:48:03.109> an<00:48:03.859> auto<00:48:04.309> industry<00:48:04.760> in<00:48:04.880> which
00:48:04.900 --> 00:48:04.910 align:start position:0%
give rise to an auto industry in which
00:48:04.910 --> 00:48:06.940 align:start position:0%
give rise to an auto industry in which
there<00:48:05.180> was<00:48:05.299> greater<00:48:05.510> value<00:48:06.020> because<00:48:06.500> cars
00:48:06.940 --> 00:48:06.950 align:start position:0%
there was greater value because cars
00:48:06.950 --> 00:48:08.920 align:start position:0%
there was greater value because cars
were<00:48:07.130> understood<00:48:07.520> to<00:48:07.579> be<00:48:07.670> safer<00:48:08.180> right<00:48:08.780> in
00:48:08.920 --> 00:48:08.930 align:start position:0%
were understood to be safer right in
00:48:08.930 --> 00:48:11.079 align:start position:0%
were understood to be safer right in
which<00:48:09.260> safety<00:48:09.829> and<00:48:09.980> safe<00:48:10.280> pneus<00:48:10.549> of<00:48:10.730> a<00:48:10.940> vehicle
00:48:11.079 --> 00:48:11.089 align:start position:0%
which safety and safe pneus of a vehicle
00:48:11.089 --> 00:48:13.690 align:start position:0%
which safety and safe pneus of a vehicle
became<00:48:11.930> itself<00:48:12.349> a<00:48:12.500> driver<00:48:12.950> of<00:48:13.280> economic
00:48:13.690 --> 00:48:13.700 align:start position:0%
became itself a driver of economic
00:48:13.700 --> 00:48:15.520 align:start position:0%
became itself a driver of economic
creation<00:48:14.510> in<00:48:14.660> which<00:48:14.809> cars<00:48:15.140> and<00:48:15.410> auto
00:48:15.520 --> 00:48:15.530 align:start position:0%
creation in which cars and auto
00:48:15.530 --> 00:48:17.829 align:start position:0%
creation in which cars and auto
manufacturers<00:48:16.099> decided<00:48:16.549> this<00:48:16.849> is<00:48:16.910> a<00:48:17.059> way<00:48:17.270> to
00:48:17.829 --> 00:48:17.839 align:start position:0%
manufacturers decided this is a way to
00:48:17.839 --> 00:48:19.660 align:start position:0%
manufacturers decided this is a way to
sell<00:48:18.049> cars<00:48:18.589> this<00:48:18.799> is<00:48:18.920> a<00:48:18.950> way<00:48:19.130> to<00:48:19.190> make<00:48:19.460> better
00:48:19.660 --> 00:48:19.670 align:start position:0%
sell cars this is a way to make better
00:48:19.670 --> 00:48:22.270 align:start position:0%
sell cars this is a way to make better
cars<00:48:20.000> right<00:48:20.690> the<00:48:21.200> idea<00:48:21.500> is<00:48:21.589> true<00:48:22.040> not<00:48:22.220> only
00:48:22.270 --> 00:48:22.280 align:start position:0%
cars right the idea is true not only
00:48:22.280 --> 00:48:23.980 align:start position:0%
cars right the idea is true not only
something<00:48:22.549> like<00:48:22.790> seat<00:48:23.030> belts<00:48:23.059> but<00:48:23.450> again
00:48:23.980 --> 00:48:23.990 align:start position:0%
something like seat belts but again
00:48:23.990 --> 00:48:26.109 align:start position:0%
something like seat belts but again
something<00:48:24.650> is<00:48:24.770> simple<00:48:25.130> and<00:48:25.280> that<00:48:25.549> we<00:48:25.880> take<00:48:26.089> for
00:48:26.109 --> 00:48:26.119 align:start position:0%
something is simple and that we take for
00:48:26.119 --> 00:48:28.329 align:start position:0%
something is simple and that we take for
granted
00:48:28.329 --> 00:48:28.339 align:start position:0%
granted
00:48:28.339 --> 00:48:31.289 align:start position:0%
granted
is<00:48:28.400> clean<00:48:28.940> air<00:48:29.089> and<00:48:29.210> clean<00:48:29.269> water<00:48:29.859> right<00:48:30.859> in
00:48:31.289 --> 00:48:31.299 align:start position:0%
is clean air and clean water right in
00:48:31.299 --> 00:48:34.329 align:start position:0%
is clean air and clean water right in
Beijing<00:48:32.299> right<00:48:32.509> now<00:48:32.710> where<00:48:33.710> the<00:48:33.829> smog<00:48:34.130> levels
00:48:34.329 --> 00:48:34.339 align:start position:0%
Beijing right now where the smog levels
00:48:34.339 --> 00:48:36.640 align:start position:0%
Beijing right now where the smog levels
on<00:48:34.670> a<00:48:34.700> daily<00:48:34.910> basis<00:48:35.390> are<00:48:35.599> beyond<00:48:36.079> kind<00:48:36.529> of
00:48:36.640 --> 00:48:36.650 align:start position:0%
on a daily basis are beyond kind of
00:48:36.650 --> 00:48:38.469 align:start position:0%
on a daily basis are beyond kind of
human<00:48:36.979> capacity<00:48:37.099> to<00:48:37.609> tolerate<00:48:37.999> for<00:48:38.210> any<00:48:38.329> long
00:48:38.469 --> 00:48:38.479 align:start position:0%
human capacity to tolerate for any long
00:48:38.479 --> 00:48:41.680 align:start position:0%
human capacity to tolerate for any long
stretch<00:48:38.779> of<00:48:38.809> time<00:48:39.609> you<00:48:40.609> know<00:48:40.700> I<00:48:40.759> can<00:48:41.029> tell<00:48:41.420> you
00:48:41.680 --> 00:48:41.690 align:start position:0%
stretch of time you know I can tell you
00:48:41.690 --> 00:48:43.749 align:start position:0%
stretch of time you know I can tell you
that<00:48:41.930> everyday<00:48:42.259> citizens<00:48:42.769> do<00:48:43.009> not<00:48:43.039> think<00:48:43.519> that
00:48:43.749 --> 00:48:43.759 align:start position:0%
that everyday citizens do not think that
00:48:43.759 --> 00:48:46.180 align:start position:0%
that everyday citizens do not think that
less<00:48:44.359> regulation<00:48:44.989> equals<00:48:45.349> more<00:48:45.589> thriving<00:48:46.099> and
00:48:46.180 --> 00:48:46.190 align:start position:0%
less regulation equals more thriving and
00:48:46.190 --> 00:48:49.180 align:start position:0%
less regulation equals more thriving and
more<00:48:46.369> health<00:48:46.839> right<00:48:47.839> that<00:48:48.289> less<00:48:48.499> regulation
00:48:49.180 --> 00:48:49.190 align:start position:0%
more health right that less regulation
00:48:49.190 --> 00:48:52.029 align:start position:0%
more health right that less regulation
is<00:48:49.369> bad<00:48:49.999> for<00:48:50.420> the<00:48:50.569> body<00:48:51.079> politic<00:48:51.619> and<00:48:51.769> for<00:48:51.950> the
00:48:52.029 --> 00:48:52.039 align:start position:0%
is bad for the body politic and for the
00:48:52.039 --> 00:48:54.400 align:start position:0%
is bad for the body politic and for the
economy<00:48:52.460> over<00:48:52.700> their<00:48:53.170> regular<00:48:54.170> there<00:48:54.289> is<00:48:54.380> a
00:48:54.400 --> 00:48:54.410 align:start position:0%
economy over their regular there is a
00:48:54.410 --> 00:48:56.739 align:start position:0%
economy over their regular there is a
sweet<00:48:54.769> spot<00:48:54.950> in<00:48:55.279> which<00:48:55.430> regulation<00:48:56.180> actually
00:48:56.739 --> 00:48:56.749 align:start position:0%
sweet spot in which regulation actually
00:48:56.749 --> 00:48:58.809 align:start position:0%
sweet spot in which regulation actually
enhances<00:48:57.589> economic<00:48:58.130> activity<00:48:58.609> in<00:48:58.759> which
00:48:58.809 --> 00:48:58.819 align:start position:0%
enhances economic activity in which
00:48:58.819 --> 00:49:02.019 align:start position:0%
enhances economic activity in which
regulation<00:48:59.779> actually<00:49:00.229> enhances<00:49:01.069> our<00:49:01.219> freedom
00:49:02.019 --> 00:49:02.029 align:start position:0%
regulation actually enhances our freedom
00:49:02.029 --> 00:49:03.670 align:start position:0%
regulation actually enhances our freedom
and<00:49:02.210> this<00:49:02.930> again<00:49:03.200> is<00:49:03.259> one<00:49:03.499> of<00:49:03.619> the
00:49:03.670 --> 00:49:03.680 align:start position:0%
and this again is one of the
00:49:03.680 --> 00:49:04.930 align:start position:0%
and this again is one of the
counterintuitive<00:49:04.130> points<00:49:04.640> in<00:49:04.729> thinking
00:49:04.930 --> 00:49:04.940 align:start position:0%
counterintuitive points in thinking
00:49:04.940 --> 00:49:06.430 align:start position:0%
counterintuitive points in thinking
about<00:49:04.999> the<00:49:05.239> role<00:49:05.420> of<00:49:05.450> government<00:49:05.719> that<00:49:06.229> in
00:49:06.430 --> 00:49:06.440 align:start position:0%
about the role of government that in
00:49:06.440 --> 00:49:09.670 align:start position:0%
about the role of government that in
order<00:49:06.950> to<00:49:07.190> get<00:49:07.460> true<00:49:08.029> freedom<00:49:08.329> in<00:49:09.319> order<00:49:09.589> to
00:49:09.670 --> 00:49:09.680 align:start position:0%
order to get true freedom in order to
00:49:09.680 --> 00:49:11.799 align:start position:0%
order to get true freedom in order to
get<00:49:09.799> more<00:49:10.009> freedom<00:49:10.460> we<00:49:10.940> have<00:49:11.150> to<00:49:11.299> yield<00:49:11.630> a
00:49:11.799 --> 00:49:11.809 align:start position:0%
get more freedom we have to yield a
00:49:11.809 --> 00:49:14.859 align:start position:0%
get more freedom we have to yield a
little<00:49:12.079> bit<00:49:12.170> of<00:49:12.259> freedom<00:49:12.469> right<00:49:13.369> so<00:49:14.089> accepting
00:49:14.859 --> 00:49:14.869 align:start position:0%
little bit of freedom right so accepting
00:49:14.869 --> 00:49:16.779 align:start position:0%
little bit of freedom right so accepting
seatbelts<00:49:15.529> accepting<00:49:16.099> clean<00:49:16.369> air<00:49:16.579> and<00:49:16.729> clean
00:49:16.779 --> 00:49:16.789 align:start position:0%
seatbelts accepting clean air and clean
00:49:16.789 --> 00:49:19.390 align:start position:0%
seatbelts accepting clean air and clean
water<00:49:17.119> laws<00:49:17.450> accepting<00:49:18.109> some<00:49:18.710> regulation<00:49:19.279> of
00:49:19.390 --> 00:49:19.400 align:start position:0%
water laws accepting some regulation of
00:49:19.400 --> 00:49:21.160 align:start position:0%
water laws accepting some regulation of
the<00:49:19.430> securitization<00:49:19.819> of<00:49:20.299> financial<00:49:20.749> assets
00:49:21.160 --> 00:49:21.170 align:start position:0%
the securitization of financial assets
00:49:21.170 --> 00:49:23.739 align:start position:0%
the securitization of financial assets
yes<00:49:22.130> it<00:49:22.400> is<00:49:22.789> a<00:49:22.819> little<00:49:23.119> bit<00:49:23.239> of<00:49:23.269> a<00:49:23.390> don't<00:49:23.569> tread
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yes it is a little bit of a don't tread
00:49:23.749 --> 00:49:25.539 align:start position:0%
yes it is a little bit of a don't tread
on<00:49:23.809> me<00:49:23.900> moment<00:49:24.380> right<00:49:24.710> it's<00:49:25.009> a<00:49:25.130> little<00:49:25.369> bit<00:49:25.460> of
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on me moment right it's a little bit of
00:49:25.549 --> 00:49:27.430 align:start position:0%
on me moment right it's a little bit of
an<00:49:25.640> infringement<00:49:26.029> upon<00:49:26.210> my<00:49:26.509> liberty<00:49:26.930> to
00:49:27.430 --> 00:49:27.440 align:start position:0%
an infringement upon my liberty to
00:49:27.440 --> 00:49:29.739 align:start position:0%
an infringement upon my liberty to
pollute<00:49:28.279> however<00:49:28.579> I<00:49:28.640> want<00:49:28.849> to<00:49:29.269> sell<00:49:29.599> you
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pollute however I want to sell you
00:49:29.749 --> 00:49:31.779 align:start position:0%
pollute however I want to sell you
whatever<00:49:30.049> I<00:49:30.140> want<00:49:30.229> to<00:49:30.890> build<00:49:31.160> cars<00:49:31.460> with
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whatever I want to build cars with
00:49:31.789 --> 00:49:33.759 align:start position:0%
whatever I want to build cars with
whatever<00:49:31.969> I<00:49:32.150> want<00:49:32.479> yes<00:49:32.930> my<00:49:33.140> liberty<00:49:33.559> to<00:49:33.650> do
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whatever I want yes my liberty to do
00:49:33.769 --> 00:49:35.229 align:start position:0%
whatever I want yes my liberty to do
those<00:49:33.920> things<00:49:33.950> is<00:49:34.369> being<00:49:34.640> infringed<00:49:35.119> by
00:49:35.229 --> 00:49:35.239 align:start position:0%
those things is being infringed by
00:49:35.239 --> 00:49:38.229 align:start position:0%
those things is being infringed by
regulation<00:49:35.989> but<00:49:36.950> that<00:49:37.249> little<00:49:37.489> concession<00:49:37.999> we
00:49:38.229 --> 00:49:38.239 align:start position:0%
regulation but that little concession we
00:49:38.239 --> 00:49:40.299 align:start position:0%
regulation but that little concession we
make<00:49:38.450> to<00:49:38.630> Liberty<00:49:38.960> there<00:49:39.170> gives<00:49:39.859> us<00:49:40.039> all
00:49:40.299 --> 00:49:40.309 align:start position:0%
make to Liberty there gives us all
00:49:40.309 --> 00:49:42.940 align:start position:0%
make to Liberty there gives us all
collectively<00:49:40.910> and<00:49:41.180> in<00:49:41.329> the<00:49:41.450> longer<00:49:42.079> term<00:49:42.109> far
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collectively and in the longer term far
00:49:42.950 --> 00:49:45.969 align:start position:0%
collectively and in the longer term far
far<00:49:43.219> more<00:49:43.279> Liberty<00:49:43.910> far<00:49:44.660> far<00:49:44.960> more<00:49:44.989> freedom<00:49:45.469> to
00:49:45.969 --> 00:49:45.979 align:start position:0%
far more Liberty far far more freedom to
00:49:45.979 --> 00:49:47.589 align:start position:0%
far more Liberty far far more freedom to
live<00:49:46.130> lives<00:49:46.489> that<00:49:46.700> are<00:49:46.789> actually<00:49:47.029> successful
00:49:47.589 --> 00:49:47.599 align:start position:0%
live lives that are actually successful
00:49:47.599 --> 00:49:49.229 align:start position:0%
live lives that are actually successful
in<00:49:47.900> thriving<00:49:48.319> in<00:49:48.440> which<00:49:48.589> we<00:49:48.769> as<00:49:48.920> a<00:49:48.950> collective
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in thriving in which we as a collective
00:49:49.239 --> 00:49:51.459 align:start position:0%
in thriving in which we as a collective
can<00:49:50.239> be<00:49:50.359> all<00:49:50.509> that<00:49:50.660> we<00:49:50.719> were<00:49:50.809> meant<00:49:50.989> to<00:49:51.049> be<00:49:51.140> and
00:49:51.459 --> 00:49:51.469 align:start position:0%
can be all that we were meant to be and
00:49:51.469 --> 00:49:54.160 align:start position:0%
can be all that we were meant to be and
so<00:49:51.890> this<00:49:52.039> idea<00:49:52.249> here<00:49:52.819> is<00:49:52.849> central<00:49:53.359> again<00:49:53.630> to<00:49:54.140> a
00:49:54.160 --> 00:49:54.170 align:start position:0%
so this idea here is central again to a
00:49:54.170 --> 00:49:56.410 align:start position:0%
so this idea here is central again to a
big<00:49:54.440> what's<00:49:54.680> small<00:49:54.979> how<00:49:55.219> understanding<00:49:56.029> that
00:49:56.410 --> 00:49:56.420 align:start position:0%
big what's small how understanding that
00:49:56.420 --> 00:49:58.209 align:start position:0%
big what's small how understanding that
if<00:49:56.539> you<00:49:56.630> want<00:49:56.930> government<00:49:57.380> itself<00:49:57.680> to<00:49:57.890> adapt
00:49:58.209 --> 00:49:58.219 align:start position:0%
if you want government itself to adapt
00:49:58.219 --> 00:50:00.160 align:start position:0%
if you want government itself to adapt
you<00:49:58.789> have<00:49:58.969> to<00:49:59.089> set<00:49:59.329> it<00:49:59.359> in<00:49:59.539> the<00:49:59.599> context<00:50:00.049> of<00:50:00.079> a
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you have to set it in the context of a
00:50:00.170 --> 00:50:03.099 align:start position:0%
you have to set it in the context of a
society<00:50:00.529> that<00:50:00.950> adapts<00:50:01.880> and<00:50:01.999> a<00:50:02.539> society<00:50:03.079> that
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society that adapts and a society that
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society that adapts and a society that
adapts<00:50:03.769> is<00:50:03.920> one<00:50:04.460> that<00:50:04.640> recognizes<00:50:04.940> all<00:50:05.420> the
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adapts is one that recognizes all the
00:50:05.779 --> 00:50:07.269 align:start position:0%
adapts is one that recognizes all the
ways<00:50:05.960> in<00:50:06.259> which<00:50:06.289> these<00:50:06.589> ideas<00:50:07.009> that<00:50:07.160> we've
00:50:07.269 --> 00:50:07.279 align:start position:0%
ways in which these ideas that we've
00:50:07.279 --> 00:50:08.380 align:start position:0%
ways in which these ideas that we've
been<00:50:07.400> talking<00:50:07.700> about<00:50:07.729> here<00:50:08.119> are
00:50:08.380 --> 00:50:08.390 align:start position:0%
been talking about here are
00:50:08.390 --> 00:50:14.829 align:start position:0%
been talking about here are
interconnected<00:50:09.019> yeah<00:50:09.979> so<00:50:13.420> we<00:50:14.420> are<00:50:14.630> not
00:50:14.829 --> 00:50:14.839 align:start position:0%
interconnected yeah so we are not
00:50:14.839 --> 00:50:19.989 align:start position:0%
interconnected yeah so we are not
certain<00:50:15.229> that<00:50:17.739> the<00:50:18.739> ideas<00:50:19.160> in<00:50:19.190> this<00:50:19.549> book<00:50:19.789> are
00:50:19.989 --> 00:50:19.999 align:start position:0%
certain that the ideas in this book are
00:50:19.999 --> 00:50:23.380 align:start position:0%
certain that the ideas in this book are
correct<00:50:21.339> it<00:50:22.339> is<00:50:22.400> it<00:50:22.729> will<00:50:22.849> be<00:50:22.969> a<00:50:22.999> matter<00:50:23.269> of
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correct it is it will be a matter of
00:50:23.390 --> 00:50:25.749 align:start position:0%
correct it is it will be a matter of
some<00:50:23.660> debate<00:50:23.749> whether<00:50:24.200> true<00:50:25.190> self<00:50:25.430> interest
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some debate whether true self interest
00:50:25.759 --> 00:50:27.489 align:start position:0%
some debate whether true self interest
is<00:50:25.910> mutual<00:50:25.940> interest<00:50:26.630> whether<00:50:26.930> we're<00:50:27.380> all
00:50:27.489 --> 00:50:27.499 align:start position:0%
is mutual interest whether we're all
00:50:27.499 --> 00:50:29.579 align:start position:0%
is mutual interest whether we're all
better<00:50:27.680> off<00:50:27.769> we're<00:50:28.309> all<00:50:28.369> that<00:50:28.579> are<00:50:28.670> off<00:50:28.789> if
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better off we're all that are off if
00:50:29.589 --> 00:50:33.609 align:start position:0%
better off we're all that are off if
it's<00:50:30.589> true<00:50:30.979> that<00:50:31.690> big<00:50:32.690> what's<00:50:32.960> small<00:50:33.319> how
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it's true that big what's small how
00:50:33.619 --> 00:50:36.070 align:start position:0%
it's true that big what's small how
approach<00:50:34.219> to<00:50:34.999> government
00:50:36.070 --> 00:50:36.080 align:start position:0%
approach to government
00:50:36.080 --> 00:50:38.800 align:start position:0%
approach to government
will<00:50:36.230> work<00:50:36.440> but<00:50:37.130> what<00:50:37.310> we<00:50:37.430> are<00:50:37.460> certain<00:50:38.180> of<00:50:38.330> is
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will work but what we are certain of is
00:50:38.810 --> 00:50:43.480 align:start position:0%
will work but what we are certain of is
that<00:50:39.040> the<00:50:40.960> extraordinarily<00:50:42.490> one-dimensional
00:50:43.480 --> 00:50:43.490 align:start position:0%
that the extraordinarily one-dimensional
00:50:43.490 --> 00:50:47.800 align:start position:0%
that the extraordinarily one-dimensional
way<00:50:43.820> in<00:50:44.030> which<00:50:44.210> we<00:50:45.070> seem<00:50:46.070> to<00:50:46.250> be<00:50:46.810> litigating
00:50:47.800 --> 00:50:47.810 align:start position:0%
way in which we seem to be litigating
00:50:47.810 --> 00:50:50.800 align:start position:0%
way in which we seem to be litigating
our<00:50:47.930> politics<00:50:48.410> today<00:50:49.480> will<00:50:50.480> get<00:50:50.660> us<00:50:50.780> nowhere
00:50:50.800 --> 00:50:50.810 align:start position:0%
our politics today will get us nowhere
00:50:50.810 --> 00:50:56.380 align:start position:0%
our politics today will get us nowhere
and<00:50:51.350> that<00:50:52.310> and<00:50:52.550> that<00:50:52.580> the<00:50:54.850> polarization<00:50:55.850> and
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and that and that the polarization and
00:50:56.390 --> 00:50:59.170 align:start position:0%
and that and that the polarization and
the<00:50:56.660> approach<00:50:56.990> that<00:50:57.470> we've<00:50:57.920> taken<00:50:58.090> over<00:50:59.090> the
00:50:59.170 --> 00:50:59.180 align:start position:0%
the approach that we've taken over the
00:50:59.180 --> 00:51:02.560 align:start position:0%
the approach that we've taken over the
last<00:50:59.330> 10<00:51:00.050> to<00:51:00.170> 20<00:51:00.410> years<00:51:00.440> is<00:51:00.860> it<00:51:01.580> dooms<00:51:02.060> us<00:51:02.390> to
00:51:02.560 --> 00:51:02.570 align:start position:0%
last 10 to 20 years is it dooms us to
00:51:02.570 --> 00:51:08.800 align:start position:0%
last 10 to 20 years is it dooms us to
failure<00:51:02.930> the<00:51:03.200> as<00:51:03.890> Eric<00:51:04.250> said<00:51:06.550> no<00:51:07.550> organism<00:51:08.270> no
00:51:08.800 --> 00:51:08.810 align:start position:0%
failure the as Eric said no organism no
00:51:08.810 --> 00:51:13.630 align:start position:0%
failure the as Eric said no organism no
no<00:51:09.340> institution<00:51:10.900> can<00:51:11.900> survive<00:51:12.290> unless<00:51:12.920> it
00:51:13.630 --> 00:51:13.640 align:start position:0%
no institution can survive unless it
00:51:13.640 --> 00:51:17.800 align:start position:0%
no institution can survive unless it
adapts<00:51:14.150> and<00:51:14.410> we<00:51:15.410> must<00:51:15.680> find<00:51:16.130> ways<00:51:16.600> to<00:51:17.600> think
00:51:17.800 --> 00:51:17.810 align:start position:0%
adapts and we must find ways to think
00:51:17.810 --> 00:51:20.560 align:start position:0%
adapts and we must find ways to think
orthogonal<00:51:18.650> II<00:51:18.740> and<00:51:19.040> to<00:51:19.340> manage<00:51:20.180> our<00:51:20.510> affairs
00:51:20.560 --> 00:51:20.570 align:start position:0%
orthogonal II and to manage our affairs
00:51:20.570 --> 00:51:24.280 align:start position:0%
orthogonal II and to manage our affairs
in<00:51:21.020> ways<00:51:21.230> which<00:51:22.100> allow<00:51:22.610> us<00:51:22.640> to<00:51:23.290> both
00:51:24.280 --> 00:51:24.290 align:start position:0%
in ways which allow us to both
00:51:24.290 --> 00:51:26.950 align:start position:0%
in ways which allow us to both
anticipate<00:51:25.070> and<00:51:25.310> deal<00:51:25.640> with<00:51:25.910> the<00:51:26.660> fact<00:51:26.840> that
00:51:26.950 --> 00:51:26.960 align:start position:0%
anticipate and deal with the fact that
00:51:26.960 --> 00:51:28.540 align:start position:0%
anticipate and deal with the fact that
the<00:51:27.140> world<00:51:27.320> is<00:51:27.530> changing<00:51:27.560> around<00:51:28.070> us<00:51:28.340> and
00:51:28.540 --> 00:51:28.550 align:start position:0%
the world is changing around us and
00:51:28.550 --> 00:51:31.420 align:start position:0%
the world is changing around us and
changing<00:51:29.000> faster<00:51:29.900> and<00:51:30.050> faster<00:51:30.200> and<00:51:30.650> it<00:51:30.860> is<00:51:31.250> our
00:51:31.420 --> 00:51:31.430 align:start position:0%
changing faster and faster and it is our
00:51:31.430 --> 00:51:34.000 align:start position:0%
changing faster and faster and it is our
view<00:51:31.700> that<00:51:32.320> the<00:51:33.320> approaches<00:51:33.740> that<00:51:33.830> we've
00:51:34.000 --> 00:51:34.010 align:start position:0%
view that the approaches that we've
00:51:34.010 --> 00:51:37.570 align:start position:0%
view that the approaches that we've
outlined<00:51:34.370> in<00:51:34.910> this<00:51:35.120> small<00:51:35.270> book<00:51:36.370> what<00:51:37.370> well
00:51:37.570 --> 00:51:37.580 align:start position:0%
outlined in this small book what well
00:51:37.580 --> 00:51:40.030 align:start position:0%
outlined in this small book what well
not<00:51:37.760> perfect<00:51:38.180> certainly<00:51:39.020> offer<00:51:39.260> us<00:51:39.620> a<00:51:39.800> better
00:51:40.030 --> 00:51:40.040 align:start position:0%
not perfect certainly offer us a better
00:51:40.040 --> 00:51:44.320 align:start position:0%
not perfect certainly offer us a better
shot<00:51:40.400> at<00:51:41.980> facilitating<00:51:42.980> that<00:51:43.400> adoption<00:51:43.820> then
00:51:44.320 --> 00:51:44.330 align:start position:0%
shot at facilitating that adoption then
00:51:44.330 --> 00:51:47.410 align:start position:0%
shot at facilitating that adoption then
then<00:51:44.720> current<00:51:45.140> course<00:51:45.500> and<00:51:45.560> speed<00:51:45.770> and<00:51:46.420> you
00:51:47.410 --> 00:51:47.420 align:start position:0%
then current course and speed and you
00:51:47.420 --> 00:51:49.000 align:start position:0%
then current course and speed and you
know<00:51:47.510> just<00:51:47.540> a<00:51:47.780> note<00:51:47.960> to<00:51:47.990> close<00:51:48.380> here<00:51:48.620> before<00:51:48.920> we
00:51:49.000 --> 00:51:49.010 align:start position:0%
know just a note to close here before we
00:51:49.010 --> 00:51:51.940 align:start position:0%
know just a note to close here before we
open<00:51:49.220> it<00:51:49.310> up<00:51:49.400> to<00:51:49.580> a<00:51:49.610> conversation<00:51:50.330> here<00:51:50.950> the
00:51:51.940 --> 00:51:51.950 align:start position:0%
open it up to a conversation here the
00:51:51.950 --> 00:51:54.340 align:start position:0%
open it up to a conversation here the
title<00:51:52.520> slide<00:51:52.730> here<00:51:53.090> which<00:51:53.450> is<00:51:53.660> what<00:51:53.930> we<00:51:54.050> you
00:51:54.340 --> 00:51:54.350 align:start position:0%
title slide here which is what we you
00:51:54.350 --> 00:51:55.900 align:start position:0%
title slide here which is what we you
know<00:51:54.440> conclude<00:51:54.800> the<00:51:54.920> book<00:51:55.100> with<00:51:55.280> is<00:51:55.520> this<00:51:55.700> idea
00:51:55.900 --> 00:51:55.910 align:start position:0%
know conclude the book with is this idea
00:51:55.910 --> 00:51:59.500 align:start position:0%
know conclude the book with is this idea
that<00:51:56.120> we<00:51:56.390> reap<00:51:56.660> what<00:51:56.690> we<00:51:56.870> sow<00:51:57.140> and<00:51:58.270> again<00:51:59.270> a
00:51:59.500 --> 00:51:59.510 align:start position:0%
that we reap what we sow and again a
00:51:59.510 --> 00:52:03.040 align:start position:0%
that we reap what we sow and again a
very<00:52:00.140> simple<00:52:00.530> very<00:52:01.120> old<00:52:02.120> concept<00:52:02.360> and<00:52:02.870> one
00:52:03.040 --> 00:52:03.050 align:start position:0%
very simple very old concept and one
00:52:03.050 --> 00:52:05.950 align:start position:0%
very simple very old concept and one
which<00:52:03.460> Americans<00:52:04.460> over<00:52:05.000> the<00:52:05.060> last<00:52:05.300> certainly
00:52:05.950 --> 00:52:05.960 align:start position:0%
which Americans over the last certainly
00:52:05.960 --> 00:52:08.640 align:start position:0%
which Americans over the last certainly
couple<00:52:06.170> of<00:52:06.230> decades<00:52:06.500> have<00:52:06.770> sort<00:52:07.040> of<00:52:07.130> forgotten
00:52:08.640 --> 00:52:08.650 align:start position:0%
couple of decades have sort of forgotten
00:52:08.650 --> 00:52:11.890 align:start position:0%
couple of decades have sort of forgotten
right<00:52:09.670> part<00:52:10.670> of<00:52:10.790> the<00:52:11.000> idea<00:52:11.030> of<00:52:11.330> us<00:52:11.540> taking
00:52:11.890 --> 00:52:11.900 align:start position:0%
right part of the idea of us taking
00:52:11.900 --> 00:52:13.090 align:start position:0%
right part of the idea of us taking
responsibility<00:52:12.530> as<00:52:12.620> citizens<00:52:12.770> is
00:52:13.090 --> 00:52:13.100 align:start position:0%
responsibility as citizens is
00:52:13.100 --> 00:52:14.470 align:start position:0%
responsibility as citizens is
recognizing<00:52:13.700> that<00:52:13.790> the<00:52:13.910> financial<00:52:14.330> collapse
00:52:14.470 --> 00:52:14.480 align:start position:0%
recognizing that the financial collapse
00:52:14.480 --> 00:52:15.970 align:start position:0%
recognizing that the financial collapse
and<00:52:14.840> the<00:52:14.930> Great<00:52:14.960> Recession<00:52:15.200> weren't<00:52:15.800> just
00:52:15.970 --> 00:52:15.980 align:start position:0%
and the Great Recession weren't just
00:52:15.980 --> 00:52:18.310 align:start position:0%
and the Great Recession weren't just
things<00:52:16.220> perpetrated<00:52:16.940> against<00:52:17.300> us<00:52:17.510> right
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things perpetrated against us right
00:52:18.320 --> 00:52:21.190 align:start position:0%
things perpetrated against us right
there<00:52:18.530> are<00:52:18.590> things<00:52:18.890> you<00:52:19.100> know<00:52:19.910> we<00:52:20.600> are<00:52:20.750> traffic
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there are things you know we are traffic
00:52:21.200 --> 00:52:23.620 align:start position:0%
there are things you know we are traffic
right<00:52:22.130> there<00:52:22.640> are<00:52:22.700> things<00:52:22.940> we<00:52:23.060> participated
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right there are things we participated
00:52:23.630 --> 00:52:26.110 align:start position:0%
right there are things we participated
in<00:52:23.870> right<00:52:24.770> and<00:52:24.980> we<00:52:25.370> participated<00:52:25.880> in<00:52:26.030> them
00:52:26.110 --> 00:52:26.120 align:start position:0%
in right and we participated in them
00:52:26.120 --> 00:52:28.300 align:start position:0%
in right and we participated in them
sometimes<00:52:26.480> very<00:52:26.720> actively<00:52:27.170> by<00:52:27.890> getting
00:52:28.300 --> 00:52:28.310 align:start position:0%
sometimes very actively by getting
00:52:28.310 --> 00:52:30.010 align:start position:0%
sometimes very actively by getting
involved<00:52:28.610> in<00:52:29.030> the<00:52:29.420> chase<00:52:29.600> to<00:52:29.630> keep<00:52:29.870> up<00:52:29.990> with
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involved in the chase to keep up with
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involved in the chase to keep up with
the<00:52:30.170> Joneses<00:52:30.560> and<00:52:30.770> buy<00:52:30.860> more<00:52:31.100> house<00:52:31.310> and<00:52:31.520> you
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the Joneses and buy more house and you
00:52:31.580 --> 00:52:33.610 align:start position:0%
the Joneses and buy more house and you
could<00:52:31.700> afford<00:52:31.940> or<00:52:32.780> they<00:52:33.110> were<00:52:33.170> things<00:52:33.440> that<00:52:33.500> we
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could afford or they were things that we
00:52:33.620 --> 00:52:35.380 align:start position:0%
could afford or they were things that we
participated<00:52:34.070> in<00:52:34.220> passively<00:52:34.640> by<00:52:34.760> not<00:52:35.090> calling
00:52:35.380 --> 00:52:35.390 align:start position:0%
participated in passively by not calling
00:52:35.390 --> 00:52:36.760 align:start position:0%
participated in passively by not calling
out<00:52:35.750> the<00:52:35.900> insanity<00:52:36.440> of<00:52:36.470> our<00:52:36.620> collective
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out the insanity of our collective
00:52:36.770 --> 00:52:39.310 align:start position:0%
out the insanity of our collective
behavior<00:52:37.430> as<00:52:37.610> things<00:52:38.240> unfolded<00:52:38.780> and<00:52:38.870> unspool
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behavior as things unfolded and unspool
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behavior as things unfolded and unspool
though<00:52:39.530> in<00:52:39.680> recent<00:52:39.890> years<00:52:40.100> right<00:52:40.850> we<00:52:41.060> all<00:52:41.090> own
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though in recent years right we all own
00:52:41.660 --> 00:52:43.960 align:start position:0%
though in recent years right we all own
that<00:52:41.960> together<00:52:42.200> and<00:52:42.590> that<00:52:43.490> notion<00:52:43.790> of
00:52:43.960 --> 00:52:43.970 align:start position:0%
that together and that notion of
00:52:43.970 --> 00:52:46.000 align:start position:0%
that together and that notion of
responsibility<00:52:44.780> at<00:52:44.900> the<00:52:45.020> smallest<00:52:45.380> level<00:52:45.710> and
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responsibility at the smallest level and
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responsibility at the smallest level and
the<00:52:46.370> idea<00:52:46.520> that<00:52:46.730> indeed<00:52:47.180> as<00:52:47.360> I<00:52:47.450> said<00:52:47.630> a<00:52:47.660> moment
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the idea that indeed as I said a moment
00:52:47.780 --> 00:52:49.329 align:start position:0%
the idea that indeed as I said a moment
ago<00:52:47.990> freedom
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ago freedom
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ago freedom
is<00:52:49.400> not<00:52:49.640> contrary<00:52:50.089> to<00:52:50.390> responsibility
00:52:51.039 --> 00:52:51.049 align:start position:0%
is not contrary to responsibility
00:52:51.049 --> 00:52:53.950 align:start position:0%
is not contrary to responsibility
freedom<00:52:51.380> is<00:52:51.529> responsibility<00:52:52.779> freedom<00:52:53.779> is
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freedom is responsibility freedom is
00:52:53.960 --> 00:52:55.690 align:start position:0%
freedom is responsibility freedom is
responsibility<00:52:54.799> for<00:52:54.979> any<00:52:55.190> freedom<00:52:55.460> that
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responsibility for any freedom that
00:52:55.700 --> 00:52:58.469 align:start position:0%
responsibility for any freedom that
matters<00:52:56.059> right<00:52:56.680> one<00:52:57.680> of<00:52:57.769> the<00:52:57.859> things<00:52:57.979> that<00:52:58.069> we
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matters right one of the things that we
00:52:58.479 --> 00:53:00.549 align:start position:0%
matters right one of the things that we
conclude<00:52:59.479> the<00:52:59.630> book<00:52:59.809> with<00:52:59.989> and<00:53:00.229> will<00:53:00.349> conclude
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conclude the book with and will conclude
00:53:00.559 --> 00:53:03.009 align:start position:0%
conclude the book with and will conclude
our<00:53:00.739> talk<00:53:01.069> with<00:53:01.279> here<00:53:01.489> today<00:53:01.759> is<00:53:02.630> a<00:53:02.690> reflection
00:53:03.009 --> 00:53:03.019 align:start position:0%
our talk with here today is a reflection
00:53:03.019 --> 00:53:06.849 align:start position:0%
our talk with here today is a reflection
on<00:53:03.880> the<00:53:04.880> second<00:53:05.269> generation<00:53:05.390> of<00:53:05.989> Americans
00:53:06.849 --> 00:53:06.859 align:start position:0%
on the second generation of Americans
00:53:06.859 --> 00:53:09.579 align:start position:0%
on the second generation of Americans
the<00:53:07.819> first<00:53:08.059> generation<00:53:08.569> were<00:53:09.140> the<00:53:09.259> founders
00:53:09.579 --> 00:53:09.589 align:start position:0%
the first generation were the founders
00:53:09.589 --> 00:53:11.019 align:start position:0%
the first generation were the founders
of<00:53:09.650> course<00:53:09.979> the<00:53:10.130> people<00:53:10.369> who<00:53:10.460> gave<00:53:10.700> us<00:53:10.880> the
00:53:11.019 --> 00:53:11.029 align:start position:0%
of course the people who gave us the
00:53:11.029 --> 00:53:12.370 align:start position:0%
of course the people who gave us the
charter<00:53:11.329> of<00:53:11.359> our<00:53:11.509> Constitution<00:53:11.960> to<00:53:12.140> people
00:53:12.370 --> 00:53:12.380 align:start position:0%
charter of our Constitution to people
00:53:12.380 --> 00:53:14.349 align:start position:0%
charter of our Constitution to people
who<00:53:12.469> gave<00:53:12.650> us<00:53:12.829> the<00:53:12.920> revolution<00:53:13.489> and<00:53:13.640> forum
00:53:14.349 --> 00:53:14.359 align:start position:0%
who gave us the revolution and forum
00:53:14.359 --> 00:53:16.180 align:start position:0%
who gave us the revolution and forum
this<00:53:14.509> nation<00:53:14.900> and<00:53:15.019> gave<00:53:15.529> us<00:53:15.650> the<00:53:15.769> framework
00:53:16.180 --> 00:53:16.190 align:start position:0%
this nation and gave us the framework
00:53:16.190 --> 00:53:18.339 align:start position:0%
this nation and gave us the framework
that<00:53:16.369> has<00:53:16.789> ever<00:53:16.999> since<00:53:17.269> contained<00:53:18.109> our
00:53:18.339 --> 00:53:18.349 align:start position:0%
that has ever since contained our
00:53:18.349 --> 00:53:20.950 align:start position:0%
that has ever since contained our
notions<00:53:18.680> of<00:53:18.769> evolution<00:53:19.309> but<00:53:20.269> it<00:53:20.660> was<00:53:20.809> that
00:53:20.950 --> 00:53:20.960 align:start position:0%
notions of evolution but it was that
00:53:20.960 --> 00:53:23.319 align:start position:0%
notions of evolution but it was that
second<00:53:21.440> generation<00:53:21.950> the<00:53:22.579> one<00:53:22.609> that<00:53:22.880> was<00:53:22.999> born
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second generation the one that was born
00:53:23.329 --> 00:53:25.599 align:start position:0%
second generation the one that was born
into<00:53:23.930> the<00:53:24.380> American<00:53:24.739> Republic<00:53:24.890> not<00:53:25.339> the<00:53:25.460> one
00:53:25.599 --> 00:53:25.609 align:start position:0%
into the American Republic not the one
00:53:25.609 --> 00:53:27.789 align:start position:0%
into the American Republic not the one
that<00:53:25.759> made<00:53:25.969> it<00:53:26.150> that's<00:53:27.140> the<00:53:27.289> generation<00:53:27.769> of
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that made it that's the generation of
00:53:27.799 --> 00:53:30.430 align:start position:0%
that made it that's the generation of
Daniel<00:53:28.160> Webster<00:53:28.579> it<00:53:29.390> turns<00:53:29.690> out<00:53:29.869> that<00:53:29.930> for<00:53:30.109> all
00:53:30.430 --> 00:53:30.440 align:start position:0%
Daniel Webster it turns out that for all
00:53:30.440 --> 00:53:32.529 align:start position:0%
Daniel Webster it turns out that for all
of<00:53:30.769> our<00:53:30.859> founder<00:53:31.309> worship<00:53:31.729> and<00:53:31.910> for<00:53:32.180> all<00:53:32.359> the
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of our founder worship and for all the
00:53:32.539 --> 00:53:34.209 align:start position:0%
of our founder worship and for all the
ways<00:53:32.690> in<00:53:32.869> which<00:53:32.900> we<00:53:33.019> lyin<00:53:33.499> eyes<00:53:33.650> and<00:53:33.920> want<00:53:34.099> to
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ways in which we lyin eyes and want to
00:53:34.219 --> 00:53:36.700 align:start position:0%
ways in which we lyin eyes and want to
emulate<00:53:34.460> the<00:53:34.819> founding<00:53:35.239> generation<00:53:35.710> every
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emulate the founding generation every
00:53:36.710 --> 00:53:38.319 align:start position:0%
emulate the founding generation every
one<00:53:36.859> of<00:53:36.979> us<00:53:37.069> indeed<00:53:37.430> every<00:53:37.910> successive
00:53:38.319 --> 00:53:38.329 align:start position:0%
one of us indeed every successive
00:53:38.329 --> 00:53:40.660 align:start position:0%
one of us indeed every successive
generation<00:53:38.989> of<00:53:39.079> Americans<00:53:39.529> since<00:53:39.799> has<00:53:40.400> borne
00:53:40.660 --> 00:53:40.670 align:start position:0%
generation of Americans since has borne
00:53:40.670 --> 00:53:42.430 align:start position:0%
generation of Americans since has borne
far<00:53:40.969> more<00:53:41.150> relation<00:53:41.630> to<00:53:41.749> Daniel<00:53:42.049> Webster's
00:53:42.430 --> 00:53:42.440 align:start position:0%
far more relation to Daniel Webster's
00:53:42.440 --> 00:53:45.069 align:start position:0%
far more relation to Daniel Webster's
generation<00:53:43.039> we<00:53:43.759> are<00:53:43.910> all<00:53:44.089> second<00:53:44.660> generation
00:53:45.069 --> 00:53:45.079 align:start position:0%
generation we are all second generation
00:53:45.079 --> 00:53:47.200 align:start position:0%
generation we are all second generation
Americans<00:53:45.589> we<00:53:46.279> are<00:53:46.400> all<00:53:46.579> people<00:53:46.880> who<00:53:46.999> have
00:53:47.200 --> 00:53:47.210 align:start position:0%
Americans we are all people who have
00:53:47.210 --> 00:53:49.089 align:start position:0%
Americans we are all people who have
been<00:53:47.390> handed<00:53:47.809> by<00:53:48.289> showing<00:53:48.710> up<00:53:48.829> here<00:53:48.979> as
00:53:49.089 --> 00:53:49.099 align:start position:0%
been handed by showing up here as
00:53:49.099 --> 00:53:50.890 align:start position:0%
been handed by showing up here as
immigrants<00:53:49.460> or<00:53:49.609> by<00:53:49.729> being<00:53:49.940> born<00:53:50.180> here<00:53:50.539> we've
00:53:50.890 --> 00:53:50.900 align:start position:0%
immigrants or by being born here we've
00:53:50.900 --> 00:53:53.680 align:start position:0%
immigrants or by being born here we've
all<00:53:51.140> been<00:53:51.170> entrusted<00:53:52.099> with<00:53:52.279> an<00:53:52.789> experiment
00:53:53.680 --> 00:53:53.690 align:start position:0%
all been entrusted with an experiment
00:53:53.690 --> 00:53:56.019 align:start position:0%
all been entrusted with an experiment
and<00:53:53.839> the<00:53:54.739> previous<00:53:55.130> generation<00:53:55.160> says<00:53:55.789> to<00:53:55.999> us
00:53:56.019 --> 00:53:56.029 align:start position:0%
and the previous generation says to us
00:53:56.029 --> 00:53:58.809 align:start position:0%
and the previous generation says to us
here<00:53:56.869> hold<00:53:57.469> this<00:53:57.650> experiment<00:53:58.279> it's<00:53:58.549> called
00:53:58.809 --> 00:53:58.819 align:start position:0%
here hold this experiment it's called
00:53:58.819 --> 00:54:02.709 align:start position:0%
here hold this experiment it's called
America<00:53:59.920> hold<00:54:00.920> this<00:54:01.069> experiment<00:54:01.670> you'll<00:54:02.450> see
00:54:02.709 --> 00:54:02.719 align:start position:0%
America hold this experiment you'll see
00:54:02.719 --> 00:54:03.759 align:start position:0%
America hold this experiment you'll see
in<00:54:02.839> this<00:54:02.930> little<00:54:03.170> thing<00:54:03.319> that<00:54:03.499> are<00:54:03.589> some
00:54:03.759 --> 00:54:03.769 align:start position:0%
in this little thing that are some
00:54:03.769 --> 00:54:06.099 align:start position:0%
in this little thing that are some
things<00:54:04.009> grown<00:54:04.309> over<00:54:04.579> here<00:54:04.969> there's<00:54:05.960> some
00:54:06.099 --> 00:54:06.109 align:start position:0%
things grown over here there's some
00:54:06.109 --> 00:54:07.809 align:start position:0%
things grown over here there's some
weeds<00:54:06.380> cropping<00:54:06.829> up<00:54:06.920> over<00:54:07.160> here<00:54:07.339> this<00:54:07.609> patch
00:54:07.809 --> 00:54:07.819 align:start position:0%
weeds cropping up over here this patch
00:54:07.819 --> 00:54:08.979 align:start position:0%
weeds cropping up over here this patch
over<00:54:08.059> here<00:54:08.150> is<00:54:08.210> just<00:54:08.329> dead<00:54:08.630> I<00:54:08.660> don't<00:54:08.930> know
00:54:08.979 --> 00:54:08.989 align:start position:0%
over here is just dead I don't know
00:54:08.989 --> 00:54:11.170 align:start position:0%
over here is just dead I don't know
what's<00:54:09.170> going<00:54:09.380> on<00:54:09.529> here<00:54:09.769> right<00:54:10.249> but<00:54:10.670> but<00:54:10.849> here
00:54:11.170 --> 00:54:11.180 align:start position:0%
what's going on here right but but here
00:54:11.180 --> 00:54:12.609 align:start position:0%
what's going on here right but but here
we've<00:54:11.569> been<00:54:11.719> doing<00:54:11.930> our<00:54:12.049> best<00:54:12.200> way<00:54:12.410> that<00:54:12.469> this
00:54:12.609 --> 00:54:12.619 align:start position:0%
we've been doing our best way that this
00:54:12.619 --> 00:54:15.789 align:start position:0%
we've been doing our best way that this
generation<00:54:12.859> it's<00:54:13.579> your<00:54:13.880> turn<00:54:14.089> right<00:54:15.079> and<00:54:15.289> our
00:54:15.789 --> 00:54:15.799 align:start position:0%
generation it's your turn right and our
00:54:15.799 --> 00:54:17.799 align:start position:0%
generation it's your turn right and our
job<00:54:16.069> as<00:54:16.279> Americans<00:54:16.789> here<00:54:17.029> as<00:54:17.210> second
00:54:17.799 --> 00:54:17.809 align:start position:0%
job as Americans here as second
00:54:17.809 --> 00:54:20.319 align:start position:0%
job as Americans here as second
generation<00:54:18.289> Americans<00:54:18.769> perpetually<00:54:19.400> is<00:54:19.579> to
00:54:20.319 --> 00:54:20.329 align:start position:0%
generation Americans perpetually is to
00:54:20.329 --> 00:54:22.959 align:start position:0%
generation Americans perpetually is to
make<00:54:20.569> sure<00:54:20.599> that<00:54:21.019> we<00:54:21.140> sustain<00:54:21.640> the<00:54:22.640> health<00:54:22.880> of
00:54:22.959 --> 00:54:22.969 align:start position:0%
make sure that we sustain the health of
00:54:22.969 --> 00:54:25.029 align:start position:0%
make sure that we sustain the health of
that<00:54:23.119> garden<00:54:23.450> that<00:54:23.960> we<00:54:24.109> make<00:54:24.289> sure<00:54:24.319> that<00:54:24.499> we<00:54:24.710> do
00:54:25.029 --> 00:54:25.039 align:start position:0%
that garden that we make sure that we do
00:54:25.039 --> 00:54:27.279 align:start position:0%
that garden that we make sure that we do
the<00:54:25.279> seeding<00:54:25.910> the<00:54:25.940> weeding<00:54:26.599> the<00:54:26.749> feeding<00:54:27.140> the
00:54:27.279 --> 00:54:27.289 align:start position:0%
the seeding the weeding the feeding the
00:54:27.289 --> 00:54:29.229 align:start position:0%
the seeding the weeding the feeding the
tending<00:54:27.890> of<00:54:28.069> the<00:54:28.549> garden<00:54:28.880> of<00:54:28.969> our<00:54:29.089> democracy
00:54:29.229 --> 00:54:29.239 align:start position:0%
tending of the garden of our democracy
00:54:29.239 --> 00:54:32.049 align:start position:0%
tending of the garden of our democracy
and<00:54:29.869> that<00:54:30.319> our<00:54:30.440> job<00:54:30.769> is<00:54:30.950> to<00:54:31.069> ensure<00:54:31.190> not
00:54:32.049 --> 00:54:32.059 align:start position:0%
and that our job is to ensure not
00:54:32.059 --> 00:54:33.940 align:start position:0%
and that our job is to ensure not
necessarily<00:54:32.539> that<00:54:32.630> we<00:54:32.839> in<00:54:33.049> our<00:54:33.140> own<00:54:33.319> time<00:54:33.619> get
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necessarily that we in our own time get
00:54:33.950 --> 00:54:35.529 align:start position:0%
necessarily that we in our own time get
all<00:54:34.160> the<00:54:34.519> happiness<00:54:34.819> and<00:54:35.059> wealth<00:54:35.269> that<00:54:35.420> we
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all the happiness and wealth that we
00:54:35.539 --> 00:54:37.479 align:start position:0%
all the happiness and wealth that we
might<00:54:35.749> want<00:54:35.960> to<00:54:36.049> seek<00:54:36.289> but<00:54:36.829> that<00:54:37.039> we<00:54:37.190> are<00:54:37.309> able
00:54:37.479 --> 00:54:37.489 align:start position:0%
might want to seek but that we are able
00:54:37.489 --> 00:54:39.759 align:start position:0%
might want to seek but that we are able
to<00:54:37.729> pass<00:54:37.910> on<00:54:38.150> to<00:54:38.180> the<00:54:38.420> next<00:54:38.599> generation<00:54:38.779> the
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to pass on to the next generation the
00:54:39.769 --> 00:54:41.799 align:start position:0%
to pass on to the next generation the
next<00:54:40.130> second<00:54:40.549> generation<00:54:40.999> of<00:54:41.089> Americans<00:54:41.569> a
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next second generation of Americans a
00:54:41.809 --> 00:54:44.319 align:start position:0%
next second generation of Americans a
garden<00:54:42.559> that<00:54:42.680> can<00:54:42.920> thrive<00:54:43.249> a<00:54:43.549> garden<00:54:44.119> in<00:54:44.180> which
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garden that can thrive a garden in which
00:54:44.329 --> 00:54:46.809 align:start position:0%
garden that can thrive a garden in which
all<00:54:44.690> of<00:54:45.319> the<00:54:45.380> fruits<00:54:45.619> that<00:54:45.680> are<00:54:45.769> labor<00:54:46.009> but
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all of the fruits that are labor but
00:54:46.819 --> 00:54:48.039 align:start position:0%
all of the fruits that are labor but
their<00:54:46.999> labor<00:54:47.210> in<00:54:47.390> their<00:54:47.509> wishes<00:54:47.690> in<00:54:47.809> their
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their labor in their wishes in their
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their labor in their wishes in their
hopes<00:54:48.289> for<00:54:48.589> opportunity<00:54:49.099> can<00:54:49.640> in<00:54:49.759> fact<00:54:49.789> be
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hopes for opportunity can in fact be
00:54:50.029 --> 00:54:53.349 align:start position:0%
hopes for opportunity can in fact be
borne<00:54:50.329> out<00:54:50.539> our<00:54:51.170> belief<00:54:51.890> and<00:54:52.130> hope<00:54:52.729> in<00:54:52.999> our
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borne out our belief and hope in our
00:54:53.359 --> 00:54:56.319 align:start position:0%
borne out our belief and hope in our
invitation<00:54:54.019> to<00:54:54.170> you<00:54:54.380> is<00:54:54.589> that<00:54:55.249> though<00:54:56.150> we've
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invitation to you is that though we've
00:54:56.329 --> 00:54:57.969 align:start position:0%
invitation to you is that though we've
talked<00:54:56.569> a<00:54:56.660> lot<00:54:56.749> about<00:54:56.809> policy<00:54:57.499> and<00:54:57.529> we've
00:54:57.969 --> 00:54:57.979 align:start position:0%
talked a lot about policy and we've
00:54:57.979 --> 00:54:59.529 align:start position:0%
talked a lot about policy and we've
talked<00:54:58.219> a<00:54:58.309> lot<00:54:58.400> about<00:54:58.460> you<00:54:58.910> know<00:54:58.999> conceptual
00:54:59.529 --> 00:54:59.539 align:start position:0%
talked a lot about you know conceptual
00:54:59.539 --> 00:55:02.049 align:start position:0%
talked a lot about you know conceptual
ideas<00:54:59.900> that<00:55:00.529> really<00:55:00.950> all<00:55:01.130> this<00:55:01.339> boils<00:55:01.640> down<00:55:01.700> to
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ideas that really all this boils down to
00:55:02.059 --> 00:55:02.800 align:start position:0%
ideas that really all this boils down to
is<00:55:02.239> a<00:55:02.269> simple
00:55:02.800 --> 00:55:02.810 align:start position:0%
is a simple
00:55:02.810 --> 00:55:05.170 align:start position:0%
is a simple
spiritual<00:55:03.230> choice<00:55:03.440> and<00:55:03.770> as<00:55:04.490> we<00:55:04.640> leave<00:55:04.880> here
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spiritual choice and as we leave here
00:55:05.180 --> 00:55:08.050 align:start position:0%
spiritual choice and as we leave here
tonight<00:55:05.390> the<00:55:06.020> choice<00:55:06.260> is<00:55:06.400> how<00:55:07.400> are<00:55:07.730> we<00:55:07.880> going
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tonight the choice is how are we going
00:55:08.060 --> 00:55:11.620 align:start position:0%
tonight the choice is how are we going
to<00:55:08.330> see<00:55:09.370> are<00:55:10.370> we<00:55:10.490> going<00:55:10.610> to<00:55:10.760> see<00:55:11.000> each<00:55:11.030> other<00:55:11.390> as
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to see are we going to see each other as
00:55:11.630 --> 00:55:14.620 align:start position:0%
to see are we going to see each other as
if<00:55:12.140> we<00:55:12.320> were<00:55:12.700> cogs<00:55:13.700> in<00:55:13.880> a<00:55:13.970> machine<00:55:14.000> to<00:55:14.510> have
00:55:14.620 --> 00:55:14.630 align:start position:0%
if we were cogs in a machine to have
00:55:14.630 --> 00:55:15.880 align:start position:0%
if we were cogs in a machine to have
little<00:55:14.810> to<00:55:14.960> do<00:55:15.050> with<00:55:15.080> one<00:55:15.320> another<00:55:15.530> and<00:55:15.800> we
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little to do with one another and we
00:55:15.890 --> 00:55:17.560 align:start position:0%
little to do with one another and we
will<00:55:16.010> all<00:55:16.100> disperse<00:55:16.610> here<00:55:16.880> and<00:55:17.060> go<00:55:17.180> back<00:55:17.390> to
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will all disperse here and go back to
00:55:17.570 --> 00:55:20.320 align:start position:0%
will all disperse here and go back to
our<00:55:17.690> particular<00:55:18.020> other<00:55:18.320> machines<00:55:19.000> or<00:55:20.000> shall
00:55:20.320 --> 00:55:20.330 align:start position:0%
our particular other machines or shall
00:55:20.330 --> 00:55:21.730 align:start position:0%
our particular other machines or shall
we<00:55:20.360> leave<00:55:20.570> here<00:55:20.840> tonight<00:55:20.990> and<00:55:21.260> see<00:55:21.440> each<00:55:21.530> other
00:55:21.730 --> 00:55:21.740 align:start position:0%
we leave here tonight and see each other
00:55:21.740 --> 00:55:24.850 align:start position:0%
we leave here tonight and see each other
as<00:55:22.150> intertwined<00:55:23.150> in<00:55:23.330> our<00:55:23.450> fates<00:55:23.860> intertwined
00:55:24.850 --> 00:55:24.860 align:start position:0%
as intertwined in our fates intertwined
00:55:24.860 --> 00:55:27.130 align:start position:0%
as intertwined in our fates intertwined
in<00:55:25.040> our<00:55:25.160> hopes<00:55:25.370> inter<00:55:26.210> tyent<00:55:26.570> intertwined<00:55:26.990> in
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in our hopes inter tyent intertwined in
00:55:27.140 --> 00:55:30.550 align:start position:0%
in our hopes inter tyent intertwined in
our<00:55:27.230> dreams<00:55:27.590> and<00:55:27.860> all<00:55:28.460> together<00:55:28.960> tenders<00:55:29.960> of<00:55:30.170> a
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our dreams and all together tenders of a
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our dreams and all together tenders of a
great<00:55:30.740> garden<00:55:31.070> called<00:55:31.250> America<00:55:31.760> thank<00:55:32.510> you
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great garden called America thank you
00:55:32.600 --> 00:55:45.220 align:start position:0%
great garden called America thank you
very<00:55:32.630> much
00:55:45.220 --> 00:55:45.230 align:start position:0%
00:55:45.230 --> 00:55:48.350 align:start position:0%
if<00:55:46.230> you've<00:55:46.440> got<00:55:46.620> any<00:55:46.800> questions<00:55:47.070> or<00:55:47.730> comments
00:55:48.350 --> 00:55:48.360 align:start position:0%
if you've got any questions or comments
00:55:48.360 --> 00:55:50.210 align:start position:0%
if you've got any questions or comments
you'd<00:55:48.450> like<00:55:48.480> to<00:55:48.630> make<00:55:48.770> our<00:55:49.770> friends<00:55:50.130> we
00:55:50.210 --> 00:55:50.220 align:start position:0%
you'd like to make our friends we
00:55:50.220 --> 00:55:52.250 align:start position:0%
you'd like to make our friends we
neglected<00:55:50.820> to<00:55:50.910> mention<00:55:50.940> both<00:55:51.390> at<00:55:51.510> kuow<00:55:52.170> and
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neglected to mention both at kuow and
00:55:52.260 --> 00:55:53.570 align:start position:0%
neglected to mention both at kuow and
the<00:55:52.320> seattle<00:55:52.650> channel<00:55:52.950> are<00:55:53.070> here<00:55:53.280> so<00:55:53.460> please
00:55:53.570 --> 00:55:53.580 align:start position:0%
the seattle channel are here so please
00:55:53.580 --> 00:55:55.730 align:start position:0%
the seattle channel are here so please
go<00:55:53.820> to<00:55:53.880> one<00:55:54.030> of<00:55:54.090> the<00:55:54.180> microphones<00:55:54.660> either<00:55:55.440> side
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go to one of the microphones either side
00:55:55.740 --> 00:55:58.960 align:start position:0%
go to one of the microphones either side
of<00:55:55.770> the<00:55:55.950> stage<00:55:56.190> to<00:55:56.720> to<00:55:57.720> ask<00:55:57.840> your<00:55:58.020> question<00:55:58.380> and
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of the stage to to ask your question and
00:55:58.970 --> 00:56:02.690 align:start position:0%
of the stage to to ask your question and
be<00:55:59.970> happy<00:56:00.390> to<00:56:00.660> start<00:56:01.170> a<00:56:01.230> conversation<00:56:01.400> so<00:56:02.400> you
00:56:02.690 --> 00:56:02.700 align:start position:0%
be happy to start a conversation so you
00:56:02.700 --> 00:56:10.610 align:start position:0%
be happy to start a conversation so you
be<00:56:02.850> in<00:56:02.940> charge<00:56:02.970> okay<00:56:03.540> Carl<00:56:06.740> it<00:56:07.740> seems<00:56:08.220> like<00:56:09.620> you
00:56:10.610 --> 00:56:10.620 align:start position:0%
be in charge okay Carl it seems like you
00:56:10.620 --> 00:56:14.000 align:start position:0%
be in charge okay Carl it seems like you
know<00:56:11.150> we're<00:56:12.150> very<00:56:12.360> much<00:56:12.630> in<00:56:12.900> like<00:56:13.500> company
00:56:14.000 --> 00:56:14.010 align:start position:0%
know we're very much in like company
00:56:14.010 --> 00:56:23.480 align:start position:0%
know we're very much in like company
here<00:56:18.500> that<00:56:19.500> our<00:56:20.630> current<00:56:21.630> president<00:56:22.160> came<00:56:23.160> in
00:56:23.480 --> 00:56:23.490 align:start position:0%
here that our current president came in
00:56:23.490 --> 00:56:25.430 align:start position:0%
here that our current president came in
with<00:56:23.700> a<00:56:23.730> lot<00:56:24.000> of<00:56:24.030> the<00:56:24.360> values<00:56:25.110> that<00:56:25.140> you're
00:56:25.430 --> 00:56:25.440 align:start position:0%
with a lot of the values that you're
00:56:25.440 --> 00:56:29.570 align:start position:0%
with a lot of the values that you're
talking<00:56:25.950> about<00:56:26.220> and<00:56:27.350> keeps<00:56:28.350> getting<00:56:28.890> his<00:56:29.220> ass
00:56:29.570 --> 00:56:29.580 align:start position:0%
talking about and keeps getting his ass
00:56:29.580 --> 00:56:35.030 align:start position:0%
talking about and keeps getting his ass
handed<00:56:29.610> to<00:56:30.180> him<00:56:30.330> on<00:56:30.660> a<00:56:30.780> platter<00:56:31.850> when<00:56:32.850> he<00:56:34.040> tries
00:56:35.030 --> 00:56:35.040 align:start position:0%
handed to him on a platter when he tries
00:56:35.040 --> 00:56:37.850 align:start position:0%
handed to him on a platter when he tries
to<00:56:35.070> do<00:56:35.550> the<00:56:35.580> right<00:56:35.760> thing<00:56:36.270> and<00:56:36.540> tries<00:56:37.350> to<00:56:37.380> act
00:56:37.850 --> 00:56:37.860 align:start position:0%
to do the right thing and tries to act
00:56:37.860 --> 00:56:42.820 align:start position:0%
to do the right thing and tries to act
in<00:56:38.220> a<00:56:38.730> civil<00:56:39.180> manner<00:56:39.380> to<00:56:40.380> the<00:56:40.500> opposition<00:56:40.970> and
00:56:42.820 --> 00:56:42.830 align:start position:0%
in a civil manner to the opposition and
00:56:42.830 --> 00:56:47.960 align:start position:0%
in a civil manner to the opposition and
I<00:56:44.510> not<00:56:45.510> and<00:56:45.750> I<00:56:45.900> I<00:56:46.200> see<00:56:46.710> him<00:56:46.890> struggle<00:56:47.490> with
00:56:47.960 --> 00:56:47.970 align:start position:0%
I not and I I see him struggle with
00:56:47.970 --> 00:56:52.610 align:start position:0%
I not and I I see him struggle with
various<00:56:48.630> ways<00:56:48.960> of<00:56:50.870> engagement<00:56:51.870> and<00:56:52.020> then
00:56:52.610 --> 00:56:52.620 align:start position:0%
various ways of engagement and then
00:56:52.620 --> 00:56:56.330 align:start position:0%
various ways of engagement and then
retreat<00:56:53.130> and<00:56:53.370> then<00:56:53.940> coming<00:56:54.330> back<00:56:54.450> again<00:56:54.900> and<00:56:55.340> I
00:56:56.330 --> 00:56:56.340 align:start position:0%
retreat and then coming back again and I
00:56:56.340 --> 00:57:00.020 align:start position:0%
retreat and then coming back again and I
wonder<00:56:57.180> if<00:56:57.480> you<00:56:57.810> have<00:56:58.110> in<00:56:58.680> the<00:56:59.340> in<00:56:59.580> the<00:56:59.640> macro
00:57:00.020 --> 00:57:00.030 align:start position:0%
wonder if you have in the in the macro
00:57:00.030 --> 00:57:03.440 align:start position:0%
wonder if you have in the in the macro
sense<00:57:00.510> and<00:57:00.810> i'm<00:57:00.900> i<00:57:01.380> i'm<00:57:02.220> not<00:57:02.790> sure<00:57:03.030> that<00:57:03.240> there
00:57:03.440 --> 00:57:03.450 align:start position:0%
sense and i'm i i'm not sure that there
00:57:03.450 --> 00:57:05.300 align:start position:0%
sense and i'm i i'm not sure that there
is<00:57:03.600> a<00:57:03.630> solution<00:57:04.020> to<00:57:04.470> this<00:57:04.590> because<00:57:05.130> i<00:57:05.160> think
00:57:05.300 --> 00:57:05.310 align:start position:0%
is a solution to this because i think
00:57:05.310 --> 00:57:08.600 align:start position:0%
is a solution to this because i think
that<00:57:05.640> the<00:57:06.050> solution<00:57:07.050> is<00:57:07.230> really<00:57:07.710> with<00:57:07.980> us<00:57:08.220> in
00:57:08.600 --> 00:57:08.610 align:start position:0%
that the solution is really with us in
00:57:08.610 --> 00:57:10.490 align:start position:0%
that the solution is really with us in
our<00:57:08.910> individual<00:57:09.480> choices<00:57:09.840> that<00:57:10.230> are<00:57:10.290> going<00:57:10.440> to
00:57:10.490 --> 00:57:10.500 align:start position:0%
our individual choices that are going to
00:57:10.500 --> 00:57:12.830 align:start position:0%
our individual choices that are going to
be<00:57:10.620> driven<00:57:10.860> by<00:57:11.190> the<00:57:11.880> information<00:57:12.540> that<00:57:12.570> we're
00:57:12.830 --> 00:57:12.840 align:start position:0%
be driven by the information that we're
00:57:12.840 --> 00:57:16.880 align:start position:0%
be driven by the information that we're
going<00:57:12.960> to<00:57:13.020> get<00:57:13.850> about<00:57:14.850> our<00:57:15.320> how<00:57:16.320> we<00:57:16.380> spend<00:57:16.770> our
00:57:16.880 --> 00:57:16.890 align:start position:0%
going to get about our how we spend our
00:57:16.890 --> 00:57:19.910 align:start position:0%
going to get about our how we spend our
money<00:57:16.950> and<00:57:17.460> how<00:57:18.000> we<00:57:18.060> make<00:57:19.050> these<00:57:19.260> choices<00:57:19.560> in
00:57:19.910 --> 00:57:19.920 align:start position:0%
money and how we make these choices in
00:57:19.920 --> 00:57:21.800 align:start position:0%
money and how we make these choices in
our<00:57:19.980> lives<00:57:20.280> and<00:57:20.550> live<00:57:20.730> them<00:57:20.940> but<00:57:21.480> in<00:57:21.630> that
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our lives and live them but in that
00:57:21.810 --> 00:57:24.470 align:start position:0%
our lives and live them but in that
macro<00:57:22.380> sense<00:57:22.650> in<00:57:22.950> that<00:57:23.100> big<00:57:23.550> government<00:57:24.150> thing
00:57:24.470 --> 00:57:24.480 align:start position:0%
macro sense in that big government thing
00:57:24.480 --> 00:57:27.530 align:start position:0%
macro sense in that big government thing
is<00:57:24.720> there<00:57:24.930> a<00:57:24.960> way<00:57:25.760> how<00:57:26.760> do<00:57:26.820> you<00:57:26.940> respond<00:57:27.450> to
00:57:27.530 --> 00:57:27.540 align:start position:0%
is there a way how do you respond to
00:57:27.540 --> 00:57:28.610 align:start position:0%
is there a way how do you respond to
that<00:57:27.630> do<00:57:27.870> you<00:57:27.930> think<00:57:27.990> there's<00:57:28.380> a<00:57:28.440> better
00:57:28.610 --> 00:57:28.620 align:start position:0%
that do you think there's a better
00:57:28.620 --> 00:57:30.170 align:start position:0%
that do you think there's a better
choice<00:57:29.010> do<00:57:29.400> you<00:57:29.460> think<00:57:29.700> that<00:57:29.940> there's
00:57:30.170 --> 00:57:30.180 align:start position:0%
choice do you think that there's
00:57:30.180 --> 00:57:32.510 align:start position:0%
choice do you think that there's
something<00:57:30.420> can<00:57:30.780> I<00:57:30.990> mean<00:57:31.860> there's<00:57:32.010> also<00:57:32.190> ways
00:57:32.510 --> 00:57:32.520 align:start position:0%
something can I mean there's also ways
00:57:32.520 --> 00:57:34.550 align:start position:0%
something can I mean there's also ways
of<00:57:32.790> thinking<00:57:33.330> about<00:57:33.690> the<00:57:33.870> question<00:57:34.020> you<00:57:34.260> pose
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of thinking about the question you pose
00:57:34.560 --> 00:57:40.520 align:start position:0%
of thinking about the question you pose
but<00:57:35.150> in<00:57:36.150> from<00:57:37.050> my<00:57:37.200> point<00:57:37.470> of<00:57:37.590> view<00:57:39.380> we<00:57:40.380> are
00:57:40.520 --> 00:57:40.530 align:start position:0%
but in from my point of view we are
00:57:40.530 --> 00:57:44.630 align:start position:0%
but in from my point of view we are
engaged<00:57:40.890> in<00:57:40.890> a<00:57:41.160> war<00:57:41.190> of<00:57:41.490> ideas<00:57:42.060> and<00:57:43.100> a<00:57:44.100> war<00:57:44.610> of
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engaged in a war of ideas and a war of
00:57:44.640 --> 00:57:50.030 align:start position:0%
engaged in a war of ideas and a war of
metaphors<00:57:45.390> and<00:57:48.200> the<00:57:49.200> thing<00:57:49.410> about<00:57:49.440> metaphors
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metaphors and the thing about metaphors
00:57:50.040 --> 00:57:52.850 align:start position:0%
metaphors and the thing about metaphors
is<00:57:50.310> that<00:57:50.460> they<00:57:50.580> frame<00:57:51.090> both<00:57:52.020> the<00:57:52.230> way<00:57:52.440> you<00:57:52.500> see
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is that they frame both the way you see
00:57:52.860 --> 00:57:55.670 align:start position:0%
is that they frame both the way you see
the<00:57:52.890> world<00:57:53.040> and<00:57:53.550> the<00:57:53.700> information<00:57:54.630> and<00:57:55.440> and
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the world and the information and and
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the world and the information and and
the<00:57:55.830> evidence<00:57:56.160> around
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the evidence around
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the evidence around
you<00:57:57.060> right<00:57:57.900> so<00:58:00.560> you<00:58:01.560> have<00:58:01.800> to<00:58:01.980> reflect<00:58:02.220> on<00:58:02.550> how
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you right so you have to reflect on how
00:58:02.790 --> 00:58:07.160 align:start position:0%
you right so you have to reflect on how
odd<00:58:03.270> it<00:58:03.599> is<00:58:03.630> that<00:58:04.589> you<00:58:04.740> can<00:58:04.980> make<00:58:05.220> the<00:58:06.210> rich<00:58:06.480> so
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odd it is that you can make the rich so
00:58:07.170 --> 00:58:11.089 align:start position:0%
odd it is that you can make the rich so
much<00:58:07.440> richer<00:58:07.800> over<00:58:08.099> 30<00:58:08.339> years<00:58:08.430> and<00:58:09.920> have<00:58:10.920> this
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much richer over 30 years and have this
00:58:11.099 --> 00:58:13.069 align:start position:0%
much richer over 30 years and have this
thesis<00:58:11.579> that<00:58:11.819> if<00:58:11.940> the<00:58:12.030> rich<00:58:12.180> get<00:58:12.420> richer<00:58:12.450> we're
00:58:13.069 --> 00:58:13.079 align:start position:0%
thesis that if the rich get richer we're
00:58:13.079 --> 00:58:16.309 align:start position:0%
thesis that if the rich get richer we're
all<00:58:13.170> going<00:58:13.319> to<00:58:13.410> be<00:58:13.470> better<00:58:13.619> off<00:58:13.829> and<00:58:14.180> have<00:58:15.319> such
00:58:16.309 --> 00:58:16.319 align:start position:0%
all going to be better off and have such
00:58:16.319 --> 00:58:19.609 align:start position:0%
all going to be better off and have such
a<00:58:16.349> such<00:58:17.339> trouble<00:58:17.849> and<00:58:18.089> nobody's<00:58:18.720> like<00:58:18.900> what's
00:58:19.609 --> 00:58:19.619 align:start position:0%
a such trouble and nobody's like what's
00:58:19.619 --> 00:58:21.500 align:start position:0%
a such trouble and nobody's like what's
the<00:58:19.740> problem<00:58:20.099> right<00:58:20.790> like<00:58:21.000> like<00:58:21.300> you
00:58:21.500 --> 00:58:21.510 align:start position:0%
the problem right like like you
00:58:21.510 --> 00:58:24.530 align:start position:0%
the problem right like like you
literally<00:58:21.839> have<00:58:22.170> you<00:58:22.890> have<00:58:23.040> john<00:58:23.910> boehner<00:58:24.180> and
00:58:24.530 --> 00:58:24.540 align:start position:0%
literally have you have john boehner and
00:58:24.540 --> 00:58:28.130 align:start position:0%
literally have you have john boehner and
paul<00:58:25.470> ryan<00:58:25.710> and<00:58:26.130> and<00:58:26.460> eric<00:58:26.819> cantor<00:58:27.140> standing
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paul ryan and and eric cantor standing
00:58:28.140 --> 00:58:29.690 align:start position:0%
paul ryan and and eric cantor standing
in<00:58:28.200> front<00:58:28.319> of<00:58:28.410> television<00:58:28.560> cameras<00:58:29.160> literally
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in front of television cameras literally
00:58:29.700 --> 00:58:32.569 align:start position:0%
in front of television cameras literally
saying<00:58:30.290> the<00:58:31.290> rich<00:58:31.500> are<00:58:31.650> job<00:58:31.859> creators<00:58:32.040> and<00:58:32.490> if
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saying the rich are job creators and if
00:58:32.579 --> 00:58:34.329 align:start position:0%
saying the rich are job creators and if
we<00:58:32.670> tax<00:58:32.940> the<00:58:33.089> more<00:58:33.359> we'll<00:58:33.510> have<00:58:33.660> less<00:58:33.900> jobs
00:58:34.329 --> 00:58:34.339 align:start position:0%
we tax the more we'll have less jobs
00:58:34.339 --> 00:58:37.250 align:start position:0%
we tax the more we'll have less jobs
right<00:58:35.339> like<00:58:35.670> like<00:58:36.000> literally<00:58:36.660> using<00:58:37.020> those
00:58:37.250 --> 00:58:37.260 align:start position:0%
right like like literally using those
00:58:37.260 --> 00:58:42.020 align:start position:0%
right like like literally using those
words<00:58:37.319> and<00:58:38.690> it<00:58:39.690> exactly<00:58:40.619> okay<00:58:41.280> right<00:58:41.760> that
00:58:42.020 --> 00:58:42.030 align:start position:0%
words and it exactly okay right that
00:58:42.030 --> 00:58:43.730 align:start position:0%
words and it exactly okay right that
this<00:58:42.210> is<00:58:42.359> the<00:58:42.510> astonishing<00:58:43.109> thing<00:58:43.290> right<00:58:43.560> and
00:58:43.730 --> 00:58:43.740 align:start position:0%
this is the astonishing thing right and
00:58:43.740 --> 00:58:49.069 align:start position:0%
this is the astonishing thing right and
so<00:58:44.339> and<00:58:44.640> so<00:58:45.290> what<00:58:46.290> we<00:58:46.500> believe<00:58:46.859> is<00:58:47.280> that<00:58:48.079> that
00:58:49.069 --> 00:58:49.079 align:start position:0%
so and so what we believe is that that
00:58:49.079 --> 00:58:52.910 align:start position:0%
so and so what we believe is that that
works<00:58:49.579> because<00:58:50.579> most<00:58:51.030> Americans<00:58:51.920> literally
00:58:52.910 --> 00:58:52.920 align:start position:0%
works because most Americans literally
00:58:52.920 --> 00:58:56.300 align:start position:0%
works because most Americans literally
have<00:58:53.250> a<00:58:53.670> donut<00:58:54.569> machine<00:58:54.720> in<00:58:55.170> their<00:58:55.349> head<00:58:55.650> when
00:58:56.300 --> 00:58:56.310 align:start position:0%
have a donut machine in their head when
00:58:56.310 --> 00:58:58.970 align:start position:0%
have a donut machine in their head when
they<00:58:56.490> think<00:58:56.790> about<00:58:56.910> the<00:58:57.240> economy<00:58:57.569> right<00:58:58.470> look
00:58:58.970 --> 00:58:58.980 align:start position:0%
they think about the economy right look
00:58:58.980 --> 00:59:01.569 align:start position:0%
they think about the economy right look
just<00:58:59.520> think<00:58:59.849> about<00:58:59.940> for<00:59:00.329> a<00:59:00.359> moment<00:59:00.660> the<00:59:00.960> word
00:59:01.569 --> 00:59:01.579 align:start position:0%
just think about for a moment the word
00:59:01.579 --> 00:59:06.530 align:start position:0%
just think about for a moment the word
regulation<00:59:03.470> which<00:59:04.470> is<00:59:04.619> how<00:59:05.010> we<00:59:05.040> describe<00:59:05.540> what
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regulation which is how we describe what
00:59:06.540 --> 00:59:09.920 align:start position:0%
regulation which is how we describe what
we<00:59:06.690> do<00:59:06.960> to<00:59:07.200> the<00:59:07.319> economy<00:59:07.700> it<00:59:08.700> is<00:59:09.089> it<00:59:09.270> is<00:59:09.480> it<00:59:09.660> is<00:59:09.720> a
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we do to the economy it is it is it is a
00:59:09.930 --> 00:59:15.010 align:start position:0%
we do to the economy it is it is it is a
mechanical<00:59:10.680> metaphor<00:59:11.160> right<00:59:11.690> it
00:59:15.010 --> 00:59:15.020 align:start position:0%
00:59:15.020 --> 00:59:18.470 align:start position:0%
representation<00:59:16.020> and<00:59:16.730> sort<00:59:17.730> of<00:59:17.790> pejorative
00:59:18.470 --> 00:59:18.480 align:start position:0%
representation and sort of pejorative
00:59:18.480 --> 00:59:22.069 align:start position:0%
representation and sort of pejorative
and<00:59:18.630> meaning<00:59:19.550> regulation<00:59:20.550> is<00:59:20.730> what<00:59:20.910> you<00:59:21.060> do<00:59:21.420> to
00:59:22.069 --> 00:59:22.079 align:start position:0%
and meaning regulation is what you do to
00:59:22.079 --> 00:59:25.640 align:start position:0%
and meaning regulation is what you do to
a<00:59:22.109> donut<00:59:22.500> machine<00:59:23.720> when<00:59:24.720> it's<00:59:24.900> broken<00:59:25.260> right
00:59:25.640 --> 00:59:25.650 align:start position:0%
a donut machine when it's broken right
00:59:25.650 --> 00:59:28.339 align:start position:0%
a donut machine when it's broken right
like<00:59:26.240> the<00:59:27.240> end<00:59:27.420> regulations<00:59:28.109> sort<00:59:28.290> of
00:59:28.339 --> 00:59:28.349 align:start position:0%
like the end regulations sort of
00:59:28.349 --> 00:59:30.800 align:start position:0%
like the end regulations sort of
constricts<00:59:28.890> it<00:59:29.010> if<00:59:29.130> you<00:59:29.310> reimagine<00:59:29.910> the
00:59:30.800 --> 00:59:30.810 align:start position:0%
constricts it if you reimagine the
00:59:30.810 --> 00:59:33.980 align:start position:0%
constricts it if you reimagine the
economy<00:59:31.410> as<00:59:31.560> as<00:59:32.280> an<00:59:32.670> ecosystem<00:59:33.329> none<00:59:33.869> of<00:59:33.960> that
00:59:33.980 --> 00:59:33.990 align:start position:0%
economy as as an ecosystem none of that
00:59:33.990 --> 00:59:36.140 align:start position:0%
economy as as an ecosystem none of that
makes<00:59:34.230> any<00:59:34.380> sense<00:59:34.530> anymore<00:59:34.980> so<00:59:35.460> the<00:59:35.910> thing<00:59:36.119> is
00:59:36.140 --> 00:59:36.150 align:start position:0%
makes any sense anymore so the thing is
00:59:36.150 --> 00:59:38.240 align:start position:0%
makes any sense anymore so the thing is
is<00:59:36.480> that<00:59:36.599> we<00:59:36.750> have<00:59:36.930> a<00:59:37.170> population<00:59:37.680> of<00:59:38.130> people
00:59:38.240 --> 00:59:38.250 align:start position:0%
is that we have a population of people
00:59:38.250 --> 00:59:40.280 align:start position:0%
is that we have a population of people
who<00:59:38.550> have<00:59:38.579> bought<00:59:39.060> this<00:59:39.359> metaphor<00:59:39.900> and<00:59:40.079> so
00:59:40.280 --> 00:59:40.290 align:start position:0%
who have bought this metaphor and so
00:59:40.290 --> 00:59:42.170 align:start position:0%
who have bought this metaphor and so
when<00:59:40.440> somebody<00:59:40.680> says<00:59:41.010> if<00:59:41.280> you<00:59:41.760> make<00:59:41.910> the<00:59:42.030> rich
00:59:42.170 --> 00:59:42.180 align:start position:0%
when somebody says if you make the rich
00:59:42.180 --> 00:59:44.630 align:start position:0%
when somebody says if you make the rich
richer<00:59:42.210> we'll<00:59:42.780> have<00:59:42.930> more<00:59:43.140> jobs<00:59:43.380> it<00:59:44.010> that
00:59:44.630 --> 00:59:44.640 align:start position:0%
richer we'll have more jobs it that
00:59:44.640 --> 00:59:47.870 align:start position:0%
richer we'll have more jobs it that
makes<00:59:45.000> sense<00:59:45.990> like<00:59:46.710> it<00:59:46.920> because<00:59:47.069> it's<00:59:47.579> it's
00:59:47.870 --> 00:59:47.880 align:start position:0%
makes sense like it because it's it's
00:59:47.880 --> 00:59:50.780 align:start position:0%
makes sense like it because it's it's
actually<00:59:48.359> a<00:59:48.390> fairly<00:59:48.660> consistent<00:59:49.790> internally
00:59:50.780 --> 00:59:50.790 align:start position:0%
actually a fairly consistent internally
00:59:50.790 --> 00:59:52.760 align:start position:0%
actually a fairly consistent internally
consistent<00:59:51.000> worldview<00:59:51.810> just<00:59:52.319> happens<00:59:52.619> to<00:59:52.740> be
00:59:52.760 --> 00:59:52.770 align:start position:0%
consistent worldview just happens to be
00:59:52.770 --> 00:59:56.059 align:start position:0%
consistent worldview just happens to be
false<00:59:53.160> and<00:59:53.520> so<00:59:54.180> you<00:59:54.480> know<00:59:54.599> I<00:59:54.630> you<00:59:55.230> know<00:59:55.349> it's<00:59:55.560> my
00:59:56.059 --> 00:59:56.069 align:start position:0%
false and so you know I you know it's my
00:59:56.069 --> 00:59:58.460 align:start position:0%
false and so you know I you know it's my
belief<00:59:56.280> that<00:59:56.700> if<00:59:57.089> you<00:59:57.750> can<00:59:57.930> push<00:59:58.200> those
00:59:58.460 --> 00:59:58.470 align:start position:0%
belief that if you can push those
00:59:58.470 --> 01:00:00.079 align:start position:0%
belief that if you can push those
metaphors<00:59:58.829> out<00:59:59.190> of<00:59:59.310> people's<00:59:59.550> head<00:59:59.760> and<00:59:59.940> say
01:00:00.079 --> 01:00:00.089 align:start position:0%
metaphors out of people's head and say
01:00:00.089 --> 01:00:02.450 align:start position:0%
metaphors out of people's head and say
it's<01:00:00.510> actually<01:00:01.020> not<01:00:01.260> a<01:00:01.319> machine<01:00:01.560> it's<01:00:02.099> like<01:00:02.430> a
01:00:02.450 --> 01:00:02.460 align:start position:0%
it's actually not a machine it's like a
01:00:02.460 --> 01:00:05.510 align:start position:0%
it's actually not a machine it's like a
garden<01:00:02.970> it's<01:00:03.510> like<01:00:03.660> a<01:00:03.869> feedback<01:00:04.500> loop<01:00:04.530> right
01:00:05.510 --> 01:00:05.520 align:start position:0%
garden it's like a feedback loop right
01:00:05.520 --> 01:00:08.270 align:start position:0%
garden it's like a feedback loop right
and<01:00:05.819> that's<01:00:06.480> why<01:00:06.720> that's<01:00:07.619> why<01:00:07.740> middle-class
01:00:08.270 --> 01:00:08.280 align:start position:0%
and that's why that's why middle-class
01:00:08.280 --> 01:00:10.280 align:start position:0%
and that's why that's why middle-class
consumers<01:00:08.579> are<01:00:09.180> the<01:00:09.300> job<01:00:09.510> creators<01:00:09.540> not<01:00:10.140> the
01:00:10.280 --> 01:00:10.290 align:start position:0%
consumers are the job creators not the
01:00:10.290 --> 01:00:10.620 align:start position:0%
consumers are the job creators not the
business
01:00:10.620 --> 01:00:10.630 align:start position:0%
business
01:00:10.630 --> 01:00:12.779 align:start position:0%
business
people<01:00:10.930> then<01:00:11.680> all<01:00:12.009> of<01:00:12.069> a<01:00:12.220> sudden<01:00:12.250> that<01:00:12.460> stuff
01:00:12.779 --> 01:00:12.789 align:start position:0%
people then all of a sudden that stuff
01:00:12.789 --> 01:00:14.819 align:start position:0%
people then all of a sudden that stuff
starts<01:00:13.089> to<01:00:13.210> sound<01:00:13.390> crazy<01:00:13.750> and<01:00:14.109> you<01:00:14.259> can<01:00:14.440> be<01:00:14.650> in
01:00:14.819 --> 01:00:14.829 align:start position:0%
starts to sound crazy and you can be in
01:00:14.829 --> 01:00:16.349 align:start position:0%
starts to sound crazy and you can be in
a<01:00:14.920> different<01:00:15.039> kind<01:00:15.430> of<01:00:15.549> conversation<01:00:16.240> about
01:00:16.349 --> 01:00:16.359 align:start position:0%
a different kind of conversation about
01:00:16.359 --> 01:00:18.269 align:start position:0%
a different kind of conversation about
taxation<01:00:16.930> you<01:00:17.259> can<01:00:17.410> be<01:00:17.650> in<01:00:17.799> a<01:00:17.859> different<01:00:17.980> kind
01:00:18.269 --> 01:00:18.279 align:start position:0%
taxation you can be in a different kind
01:00:18.279 --> 01:00:20.789 align:start position:0%
taxation you can be in a different kind
of<01:00:18.339> conversation<01:00:19.119> about<01:00:19.529> inequality<01:00:20.529> you<01:00:20.650> can
01:00:20.789 --> 01:00:20.799 align:start position:0%
of conversation about inequality you can
01:00:20.799 --> 01:00:23.370 align:start position:0%
of conversation about inequality you can
be<01:00:21.069> in<01:00:21.309> a<01:00:21.369> different<01:00:21.490> conversation<01:00:22.000> about<01:00:22.779> the
01:00:23.370 --> 01:00:23.380 align:start position:0%
be in a different conversation about the
01:00:23.380 --> 01:00:25.980 align:start position:0%
be in a different conversation about the
role<01:00:23.589> of<01:00:23.619> government<01:00:24.450> one<01:00:25.450> quick<01:00:25.599> thing<01:00:25.660> that
01:00:25.980 --> 01:00:25.990 align:start position:0%
role of government one quick thing that
01:00:25.990 --> 01:00:27.539 align:start position:0%
role of government one quick thing that
I<01:00:26.019> want<01:00:26.650> to<01:00:26.680> make<01:00:26.799> sure<01:00:26.829> we<01:00:27.039> get<01:00:27.130> a<01:00:27.190> chance<01:00:27.400> to
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I want to make sure we get a chance to
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I want to make sure we get a chance to
go<01:00:27.640> to<01:00:27.700> some<01:00:27.849> other<01:00:27.910> questions<01:00:28.390> but<01:00:29.200> one<01:00:29.349> just
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go to some other questions but one just
01:00:29.559 --> 01:00:32.640 align:start position:0%
go to some other questions but one just
quick<01:00:29.740> note<01:00:29.920> to<01:00:29.950> add<01:00:30.160> to<01:00:30.369> that<01:00:31.259> you<01:00:32.259> know<01:00:32.349> it's
01:00:32.640 --> 01:00:32.650 align:start position:0%
quick note to add to that you know it's
01:00:32.650 --> 01:00:34.470 align:start position:0%
quick note to add to that you know it's
not<01:00:32.769> just<01:00:32.829> about<01:00:33.190> metaphor<01:00:33.819> at<01:00:34.089> a<01:00:34.119> conceptual
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not just about metaphor at a conceptual
01:00:34.480 --> 01:00:37.470 align:start position:0%
not just about metaphor at a conceptual
level<01:00:34.779> what<01:00:35.049> we're<01:00:35.200> talking<01:00:35.500> about<01:00:35.589> here<01:00:36.480> over
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level what we're talking about here over
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level what we're talking about here over
a<01:00:37.509> medium<01:00:38.109> and<01:00:38.259> long<01:00:38.380> term<01:00:38.410> over<01:00:38.890> the<01:00:39.009> rest<01:00:39.160> of
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a medium and long term over the rest of
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a medium and long term over the rest of
our<01:00:39.369> lives<01:00:39.579> say<01:00:40.029> is<01:00:40.619> changing<01:00:41.619> culture<01:00:42.299> right
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our lives say is changing culture right
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our lives say is changing culture right
but<01:00:43.630> we're<01:00:43.779> talking<01:00:44.049> about<01:00:44.140> our<01:00:44.319> norms<01:00:44.769> right
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but we're talking about our norms right
01:00:45.730 --> 01:00:48.359 align:start position:0%
but we're talking about our norms right
and<01:00:45.940> norms<01:00:46.299> are<01:00:46.420> contagious<01:00:46.829> change<01:00:47.829> in<01:00:48.069> norms
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and norms are contagious change in norms
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and norms are contagious change in norms
is<01:00:48.549> slow<01:00:49.119> and<01:00:49.450> gradual<01:00:50.019> for<01:00:50.259> a<01:00:50.289> real<01:00:50.440> long<01:00:50.650> time
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is slow and gradual for a real long time
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is slow and gradual for a real long time
and<01:00:51.190> then<01:00:51.759> cascades<01:00:52.269> suddenly<01:00:52.750> right<01:00:53.680> witness
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and then cascades suddenly right witness
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and then cascades suddenly right witness
the<01:00:54.609> Arab<01:00:55.000> Spring<01:00:55.119> right<01:00:55.990> norms<01:00:56.829> about<01:00:56.950> what
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the Arab Spring right norms about what
01:00:57.250 --> 01:00:58.710 align:start position:0%
the Arab Spring right norms about what
is<01:00:57.369> permissible<01:00:57.759> there<01:00:58.150> are<01:00:58.299> norms<01:00:58.450> about
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is permissible there are norms about
01:00:58.720 --> 01:01:00.900 align:start position:0%
is permissible there are norms about
what<01:00:59.019> notions<01:00:59.529> of<01:00:59.710> what<01:00:59.920> human<01:01:00.400> agency<01:01:00.700> ought
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what notions of what human agency ought
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what notions of what human agency ought
to<01:01:01.059> be<01:01:01.210> in<01:01:02.079> different<01:01:02.470> parts<01:01:02.559> of<01:01:02.650> the<01:01:02.710> Arab
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to be in different parts of the Arab
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to be in different parts of the Arab
world<01:01:02.950> have<01:01:03.309> cascaded<01:01:04.000> suddenly<01:01:04.420> and<01:01:04.599> you
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world have cascaded suddenly and you
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world have cascaded suddenly and you
know<01:01:05.019> the<01:01:05.109> outcome<01:01:05.230> remains<01:01:05.500> to<01:01:05.710> be<01:01:05.740> seen<01:01:06.009> but
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know the outcome remains to be seen but
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know the outcome remains to be seen but
there's<01:01:06.400> no<01:01:06.519> question<01:01:06.880> that<01:01:06.910> norms<01:01:07.690> are
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there's no question that norms are
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there's no question that norms are
shifting<01:01:08.319> right<01:01:08.710> and<01:01:08.980> for<01:01:09.940> us<01:01:09.970> it's<01:01:10.690> not<01:01:10.930> just
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shifting right and for us it's not just
01:01:11.259 --> 01:01:12.990 align:start position:0%
shifting right and for us it's not just
about<01:01:11.410> in<01:01:11.680> fact<01:01:11.890> it's<01:01:12.039> hardly<01:01:12.309> at<01:01:12.490> all<01:01:12.609> about
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about in fact it's hardly at all about
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about in fact it's hardly at all about
who<01:01:13.269> our<01:01:13.299> president<01:01:13.869> is<01:01:13.990> and<01:01:14.259> what<01:01:14.380> our
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who our president is and what our
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who our president is and what our
president<01:01:14.859> says<01:01:15.099> right<01:01:15.789> this<01:01:15.940> is<01:01:16.089> a
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president says right this is a
01:01:16.119 --> 01:01:18.839 align:start position:0%
president says right this is a
distributed<01:01:16.930> responsibility<01:01:17.769> for<01:01:18.400> all<01:01:18.519> of<01:01:18.759> us
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distributed responsibility for all of us
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distributed responsibility for all of us
and<01:01:19.089> for<01:01:19.720> all<01:01:19.869> of<01:01:20.049> us<01:01:20.109> to<01:01:20.170> be<01:01:20.380> setting<01:01:20.859> a
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and for all of us to be setting a
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and for all of us to be setting a
different<01:01:21.190> set<01:01:21.369> of<01:01:21.460> norms<01:01:21.670> and<01:01:22.089> changing<01:01:22.569> a
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different set of norms and changing a
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different set of norms and changing a
culture<01:01:22.660> you<01:01:23.140> know<01:01:23.170> I<01:01:23.259> use<01:01:23.529> the<01:01:23.680> a<01:01:23.920> site<01:01:24.609> of<01:01:24.730> the
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culture you know I use the a site of the
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culture you know I use the a site of the
name<01:01:24.970> race<01:01:25.180> to<01:01:25.329> the<01:01:25.359> top<01:01:25.599> earlier<01:01:25.990> and<01:01:26.200> in
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name race to the top earlier and in
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name race to the top earlier and in
terms<01:01:26.500> of<01:01:26.619> the<01:01:26.710> education<01:01:27.670> agenda<01:01:27.730> but<01:01:28.119> what
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terms of the education agenda but what
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terms of the education agenda but what
happens<01:01:29.079> when<01:01:29.200> you<01:01:29.470> have<01:01:29.710> in<01:01:30.009> civility<01:01:30.460> and
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happens when you have in civility and
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happens when you have in civility and
you<01:01:31.599> know<01:01:32.250> turn<01:01:33.250> the<01:01:33.369> other<01:01:33.460> cheek<01:01:33.549> and<01:01:33.849> the<01:01:33.940> in
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you know turn the other cheek and the in
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you know turn the other cheek and the in
and<01:01:34.569> you<01:01:34.750> know<01:01:34.839> get<01:01:35.710> slapped<01:01:36.009> again<01:01:36.190> is<01:01:37.150> you
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and you know get slapped again is you
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and you know get slapped again is you
have<01:01:37.390> a<01:01:37.420> race<01:01:37.599> to<01:01:37.750> the<01:01:37.779> bottom<01:01:37.869> in<01:01:38.589> norms<01:01:39.579> right
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have a race to the bottom in norms right
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have a race to the bottom in norms right
and<01:01:40.210> we<01:01:40.690> have<01:01:40.839> a<01:01:40.869> choice<01:01:41.079> every<01:01:41.470> day<01:01:41.619> whether
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and we have a choice every day whether
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and we have a choice every day whether
or<01:01:42.160> not<01:01:42.279> to<01:01:42.519> engage<01:01:42.670> in<01:01:43.059> that<01:01:43.180> normative<01:01:43.660> race
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or not to engage in that normative race
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or not to engage in that normative race
to<01:01:44.170> the<01:01:44.200> bottom<01:01:44.380> right<01:01:45.369> and<01:01:45.839> again<01:01:46.839> it's<01:01:47.140> true
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to the bottom right and again it's true
01:01:47.319 --> 01:01:49.529 align:start position:0%
to the bottom right and again it's true
we<01:01:47.470> are<01:01:47.589> of<01:01:47.710> like<01:01:47.740> mind<01:01:48.130> here<01:01:48.430> and<01:01:48.609> this<01:01:48.700> is<01:01:48.759> you
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we are of like mind here and this is you
01:01:49.539 --> 01:01:52.859 align:start position:0%
we are of like mind here and this is you
know<01:01:49.569> a<01:01:50.500> choir<01:01:51.220> of<01:01:51.250> the<01:01:52.210> perhaps<01:01:52.660> already
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know a choir of the perhaps already
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know a choir of the perhaps already
converted<01:01:53.490> but<01:01:55.019> we<01:01:56.019> all<01:01:56.289> go<01:01:56.529> out<01:01:56.650> in<01:01:56.769> the<01:01:56.829> world
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converted but we all go out in the world
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converted but we all go out in the world
we<01:01:57.700> all<01:01:57.819> got<01:01:58.000> an<01:01:58.150> encounter<01:01:58.359> people<01:01:58.690> we<01:01:59.349> don't
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we all got an encounter people we don't
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we all got an encounter people we don't
know<01:01:59.740> we<01:01:59.920> all<01:02:00.039> go<01:02:00.160> out<01:02:00.279> and<01:02:00.339> encounter<01:02:00.670> people
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know we all go out and encounter people
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know we all go out and encounter people
we<01:02:01.059> don't<01:02:01.299> agree<01:02:01.930> with<01:02:02.019> or<01:02:02.200> don't<01:02:02.470> know<01:02:02.849> agree
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we don't agree with or don't know agree
01:02:03.849 --> 01:02:06.480 align:start position:0%
we don't agree with or don't know agree
with<01:02:04.000> us<01:02:04.150> right<01:02:04.509> and<01:02:04.750> the<01:02:05.200> the<01:02:05.740> model<01:02:06.130> we<01:02:06.220> set
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with us right and the the model we set
01:02:06.490 --> 01:02:08.839 align:start position:0%
with us right and the the model we set
the<01:02:06.579> example<01:02:06.670> we<01:02:07.119> set<01:02:07.150> as<01:02:07.559> citizens<01:02:08.559> as
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the example we set as citizens as
01:02:08.849 --> 01:02:11.759 align:start position:0%
the example we set as citizens as
everyday<01:02:09.849> members<01:02:10.359> as<01:02:11.049> people<01:02:11.440> who<01:02:11.529> live<01:02:11.740> in
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everyday members as people who live in
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everyday members as people who live in
public<01:02:12.509> is<01:02:13.859> is<01:02:14.859> central<01:02:15.339> to<01:02:15.369> this<01:02:15.640> and<01:02:16.269> I<01:02:16.660> think
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public is is central to this and I think
01:02:16.930 --> 01:02:18.660 align:start position:0%
public is is central to this and I think
you<01:02:17.319> know<01:02:17.410> the<01:02:17.559> president<01:02:17.950> meant<01:02:18.130> it<01:02:18.279> when<01:02:18.609> he
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you know the president meant it when he
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you know the president meant it when he
was<01:02:18.819> a<01:02:18.880> candidate<01:02:19.240> and<01:02:19.390> said<01:02:19.599> we<01:02:20.019> are<01:02:20.200> the
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was a candidate and said we are the
01:02:20.319 --> 01:02:22.640 align:start position:0%
was a candidate and said we are the
change<01:02:20.529> we've<01:02:20.710> been<01:02:20.829> waiting<01:02:21.099> for<01:02:21.309> right
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change we've been waiting for right
01:02:22.650 --> 01:02:24.390 align:start position:0%
change we've been waiting for right
voters<01:02:23.650> didn't<01:02:23.799> want<01:02:23.920> to<01:02:23.980> believe
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voters didn't want to believe
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voters didn't want to believe
they<01:02:24.640> wanted<01:02:24.880> to<01:02:24.940> kind<01:02:25.150> of<01:02:25.210> believe<01:02:25.480> he<01:02:25.690> is<01:02:25.839> the
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they wanted to kind of believe he is the
01:02:25.960 --> 01:02:27.269 align:start position:0%
they wanted to kind of believe he is the
change<01:02:26.200> they've<01:02:26.440> been<01:02:26.529> waiting<01:02:26.680> for<01:02:26.980> he<01:02:27.190> is
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change they've been waiting for he is
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change they've been waiting for he is
the<01:02:27.430> change<01:02:27.640> you<01:02:27.970> know<01:02:28.089> no<01:02:28.569> no<01:02:28.690> no<01:02:28.990> we<01:02:29.230> are<01:02:29.380> the
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the change you know no no no we are the
01:02:29.529 --> 01:02:32.430 align:start position:0%
the change you know no no no we are the
change<01:02:29.740> right<01:02:30.309> and<01:02:30.940> either<01:02:31.119> we<01:02:31.359> you<01:02:31.690> know<01:02:31.809> we
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change right and either we you know we
01:02:32.440 --> 01:02:35.130 align:start position:0%
change right and either we you know we
have<01:02:32.680> and<01:02:32.980> we<01:02:33.010> get<01:02:33.279> exactly<01:02:34.029> the<01:02:34.539> politics<01:02:34.990> we
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have and we get exactly the politics we
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have and we get exactly the politics we
deserve<01:02:35.670> right<01:02:36.670> so<01:02:36.910> what<01:02:37.240> we<01:02:37.359> have<01:02:37.510> right<01:02:37.690> now
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deserve right so what we have right now
01:02:37.869 --> 01:02:40.200 align:start position:0%
deserve right so what we have right now
dysfunction<01:02:38.619> polarization<01:02:39.520> you<01:02:40.089> know
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dysfunction polarization you know
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dysfunction polarization you know
stupidity<01:02:40.990> bad<01:02:41.410> metaphors<01:02:41.950> that's<01:02:42.700> exactly
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stupidity bad metaphors that's exactly
01:02:43.210 --> 01:02:45.420 align:start position:0%
stupidity bad metaphors that's exactly
what<01:02:43.390> we<01:02:43.480> deserve<01:02:43.779> why<01:02:44.349> because<01:02:44.740> people<01:02:45.039> like
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what we deserve why because people like
01:02:45.430 --> 01:02:47.700 align:start position:0%
what we deserve why because people like
us<01:02:45.670> who<01:02:46.000> are<01:02:46.119> thinking<01:02:46.510> in<01:02:46.750> new<01:02:46.779> ways<01:02:46.960> aren't
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us who are thinking in new ways aren't
01:02:47.710 --> 01:02:49.859 align:start position:0%
us who are thinking in new ways aren't
doing<01:02:47.920> enough<01:02:48.069> yet<01:02:48.490> to<01:02:48.670> make<01:02:49.089> contagious<01:02:49.660> our
01:02:49.859 --> 01:02:49.869 align:start position:0%
doing enough yet to make contagious our
01:02:49.869 --> 01:02:52.519 align:start position:0%
doing enough yet to make contagious our
new<01:02:50.020> way<01:02:50.140> of<01:02:50.170> thinking<01:02:50.289> right<01:02:51.099> so<01:02:51.549> sorry<01:02:51.789> good
01:02:52.519 --> 01:02:52.529 align:start position:0%
new way of thinking right so sorry good
01:02:52.529 --> 01:02:56.760 align:start position:0%
new way of thinking right so sorry good
so<01:02:53.529> let's<01:02:54.220> think<01:02:54.339> about<01:02:54.579> corporations<01:02:55.710> we<01:02:56.710> are
01:02:56.760 --> 01:02:56.770 align:start position:0%
so let's think about corporations we are
01:02:56.770 --> 01:02:59.789 align:start position:0%
so let's think about corporations we are
I<01:02:57.130> agree<01:02:57.700> it's<01:02:58.059> an<01:02:58.240> ecosystem<01:02:58.809> trickle-down
01:02:59.789 --> 01:02:59.799 align:start position:0%
I agree it's an ecosystem trickle-down
01:02:59.799 --> 01:03:03.440 align:start position:0%
I agree it's an ecosystem trickle-down
is<01:03:00.510> not<01:03:01.510> working<01:03:01.869> bubble<01:03:02.200> up<01:03:02.289> is<01:03:02.440> what<01:03:02.589> we<01:03:02.740> need
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is not working bubble up is what we need
01:03:03.450 --> 01:03:06.200 align:start position:0%
is not working bubble up is what we need
corporations<01:03:04.450> are<01:03:04.599> not<01:03:04.630> democratic<01:03:05.319> and
01:03:06.200 --> 01:03:06.210 align:start position:0%
corporations are not democratic and
01:03:06.210 --> 01:03:08.190 align:start position:0%
corporations are not democratic and
corporations<01:03:07.210> have<01:03:07.329> come<01:03:07.450> to<01:03:07.569> dominate<01:03:07.809> not
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corporations have come to dominate not
01:03:08.200 --> 01:03:10.500 align:start position:0%
corporations have come to dominate not
only<01:03:08.410> the<01:03:08.529> economy<01:03:09.039> but<01:03:10.029> the<01:03:10.119> political
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only the economy but the political
01:03:10.510 --> 01:03:13.769 align:start position:0%
only the economy but the political
system<01:03:10.690> as<01:03:10.960> well<01:03:11.140> is<01:03:12.010> it<01:03:12.279> possible<01:03:12.400> in<01:03:13.150> your
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system as well is it possible in your
01:03:13.779 --> 01:03:16.410 align:start position:0%
system as well is it possible in your
estimation<01:03:14.279> to<01:03:15.279> democratize<01:03:15.880> these
01:03:16.410 --> 01:03:16.420 align:start position:0%
estimation to democratize these
01:03:16.420 --> 01:03:18.180 align:start position:0%
estimation to democratize these
institutions<01:03:17.289> which<01:03:17.500> if<01:03:17.799> you<01:03:18.039> look
01:03:18.180 --> 01:03:18.190 align:start position:0%
institutions which if you look
01:03:18.190 --> 01:03:22.049 align:start position:0%
institutions which if you look
historically<01:03:18.720> have<01:03:19.720> been<01:03:19.799> incubated<01:03:20.799> in<01:03:21.309> the
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historically have been incubated in the
01:03:22.059 --> 01:03:25.049 align:start position:0%
historically have been incubated in the
bourgeois<01:03:22.450> democracy<01:03:22.690> that<01:03:23.440> we<01:03:23.559> live<01:03:23.799> in<01:03:24.059> they
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bourgeois democracy that we live in they
01:03:25.059 --> 01:03:27.870 align:start position:0%
bourgeois democracy that we live in they
began<01:03:25.299> in<01:03:25.510> the<01:03:25.539> 16th<01:03:25.960> century<01:03:26.049> there<01:03:26.880> they've
01:03:27.870 --> 01:03:27.880 align:start position:0%
began in the 16th century there they've
01:03:27.880 --> 01:03:30.390 align:start position:0%
began in the 16th century there they've
been<01:03:28.029> brought<01:03:28.480> to<01:03:28.869> fruition<01:03:29.109> as<01:03:29.559> it<01:03:29.710> were<01:03:29.859> now
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been brought to fruition as it were now
01:03:30.400 --> 01:03:33.870 align:start position:0%
been brought to fruition as it were now
they<01:03:30.789> are<01:03:30.819> mature<01:03:31.359> and<01:03:31.779> they're<01:03:32.470> eating<01:03:32.799> us<01:03:32.950> is
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they are mature and they're eating us is
01:03:33.880 --> 01:03:35.490 align:start position:0%
they are mature and they're eating us is
it<01:03:34.180> possible<01:03:34.420> that<01:03:34.779> we<01:03:35.049> could<01:03:35.200> take
01:03:35.490 --> 01:03:35.500 align:start position:0%
it possible that we could take
01:03:35.500 --> 01:03:37.079 align:start position:0%
it possible that we could take
possession<01:03:35.890> of<01:03:36.190> them<01:03:36.430> if<01:03:36.730> you<01:03:36.819> have<01:03:36.880> some
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possession of them if you have some
01:03:37.089 --> 01:03:39.660 align:start position:0%
possession of them if you have some
thoughts<01:03:37.240> on<01:03:37.420> that<01:03:37.480> let's<01:03:38.349> start<01:03:38.410> well<01:03:38.710> I<01:03:39.010> mean
01:03:39.660 --> 01:03:39.670 align:start position:0%
thoughts on that let's start well I mean
01:03:39.670 --> 01:03:43.140 align:start position:0%
thoughts on that let's start well I mean
I<01:03:39.819> think<01:03:39.849> that<01:03:40.150> there's<01:03:40.359> no<01:03:40.569> doubt<01:03:40.960> that<01:03:42.150> so
01:03:43.140 --> 01:03:43.150 align:start position:0%
I think that there's no doubt that so
01:03:43.150 --> 01:03:45.900 align:start position:0%
I think that there's no doubt that so
okay<01:03:44.109> so<01:03:44.440> we<01:03:44.619> are<01:03:44.650> huge<01:03:45.250> believers<01:03:45.760> in
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okay so we are huge believers in
01:03:45.910 --> 01:03:51.089 align:start position:0%
okay so we are huge believers in
capitalism<01:03:46.390> and<01:03:48.029> and<01:03:49.029> having<01:03:49.869> spent<01:03:50.079> four<01:03:51.069> and
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capitalism and and having spent four and
01:03:51.099 --> 01:03:54.599 align:start position:0%
capitalism and and having spent four and
a<01:03:51.220> half<01:03:51.279> five<01:03:51.549> years<01:03:52.890> digging<01:03:53.890> into<01:03:54.339> the
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a half five years digging into the
01:03:54.609 --> 01:03:57.870 align:start position:0%
a half five years digging into the
science<01:03:55.059> of<01:03:55.270> complex<01:03:55.809> adaptive<01:03:55.930> systems<01:03:56.880> it
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science of complex adaptive systems it
01:03:57.880 --> 01:04:00.750 align:start position:0%
science of complex adaptive systems it
becomes<01:03:58.839> clearer<01:03:59.200> and<01:03:59.500> clearer<01:04:00.039> why
01:04:00.750 --> 01:04:00.760 align:start position:0%
becomes clearer and clearer why
01:04:00.760 --> 01:04:03.210 align:start position:0%
becomes clearer and clearer why
capitalism<01:04:01.270> is<01:04:01.750> awesome<01:04:02.529> because<01:04:03.010> it
01:04:03.210 --> 01:04:03.220 align:start position:0%
capitalism is awesome because it
01:04:03.220 --> 01:04:05.309 align:start position:0%
capitalism is awesome because it
unleashes<01:04:04.089> evolutionary<01:04:04.720> forces<01:04:05.020> but
01:04:05.309 --> 01:04:05.319 align:start position:0%
unleashes evolutionary forces but
01:04:05.319 --> 01:04:09.109 align:start position:0%
unleashes evolutionary forces but
capitalism<01:04:05.950> is<01:04:06.069> like<01:04:06.250> pie<01:04:07.230> there's<01:04:08.230> dirt<01:04:08.650> pie
01:04:09.109 --> 01:04:09.119 align:start position:0%
capitalism is like pie there's dirt pie
01:04:09.119 --> 01:04:12.660 align:start position:0%
capitalism is like pie there's dirt pie
which<01:04:10.119> tastes<01:04:10.480> a<01:04:10.539> lousy<01:04:10.720> and<01:04:11.400> cherry<01:04:12.400> pie
01:04:12.660 --> 01:04:12.670 align:start position:0%
which tastes a lousy and cherry pie
01:04:12.670 --> 01:04:16.799 align:start position:0%
which tastes a lousy and cherry pie
which<01:04:13.270> is<01:04:13.450> yummy<01:04:13.779> and<01:04:14.880> we<01:04:15.880> have<01:04:16.089> choices<01:04:16.450> to
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which is yummy and we have choices to
01:04:16.809 --> 01:04:18.930 align:start position:0%
which is yummy and we have choices to
make<01:04:16.839> about<01:04:17.170> what<01:04:17.650> kind<01:04:17.950> of<01:04:18.160> pie<01:04:18.549> or
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make about what kind of pie or
01:04:18.940 --> 01:04:23.130 align:start position:0%
make about what kind of pie or
capitalism<01:04:19.720> we<01:04:20.680> have<01:04:20.950> right<01:04:21.760> we<01:04:22.299> can<01:04:22.510> have<01:04:22.809> a
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capitalism we have right we can have a
01:04:23.140 --> 01:04:26.190 align:start position:0%
capitalism we have right we can have a
yummy<01:04:23.559> capitalism<01:04:24.460> where<01:04:25.240> corporations<01:04:25.809> are
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yummy capitalism where corporations are
01:04:26.200 --> 01:04:29.309 align:start position:0%
yummy capitalism where corporations are
constrained<01:04:26.740> in<01:04:26.980> reasonable<01:04:27.579> ways<01:04:27.760> and<01:04:28.319> have
01:04:29.309 --> 01:04:29.319 align:start position:0%
constrained in reasonable ways and have
01:04:29.319 --> 01:04:31.859 align:start position:0%
constrained in reasonable ways and have
a<01:04:29.619> fiduciary<01:04:29.890> duty<01:04:30.670> to<01:04:30.970> people<01:04:31.390> other<01:04:31.599> than
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a fiduciary duty to people other than
01:04:31.869 --> 01:04:34.529 align:start position:0%
a fiduciary duty to people other than
just<01:04:32.289> their<01:04:32.500> shareholders<01:04:33.220> and<01:04:33.460> who<01:04:34.119> aren't
01:04:34.529 --> 01:04:34.539 align:start position:0%
just their shareholders and who aren't
01:04:34.539 --> 01:04:36.980 align:start position:0%
just their shareholders and who aren't
treated<01:04:34.960> by<01:04:35.140> the<01:04:35.170> law<01:04:35.559> as<01:04:35.859> citizens<01:04:36.520> and<01:04:36.819> how
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treated by the law as citizens and how
01:04:36.990 --> 01:04:39.560 align:start position:0%
treated by the law as citizens and how
the<01:04:37.140> same<01:04:37.350> rights<01:04:38.060> speech<01:04:39.060> rights<01:04:39.360> as
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the same rights speech rights as
01:04:39.570 --> 01:04:41.990 align:start position:0%
the same rights speech rights as
citizens<01:04:39.600> and<01:04:40.380> and<01:04:40.619> there<01:04:41.040> is<01:04:41.160> a<01:04:41.190> ton<01:04:41.610> of<01:04:41.640> stuff
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citizens and and there is a ton of stuff
01:04:42.000 --> 01:04:43.609 align:start position:0%
citizens and and there is a ton of stuff
we<01:04:42.150> need<01:04:42.300> to<01:04:42.330> do<01:04:42.540> to<01:04:42.780> get<01:04:42.900> that<01:04:43.080> back<01:04:43.290> under
01:04:43.609 --> 01:04:43.619 align:start position:0%
we need to do to get that back under
01:04:43.619 --> 01:04:45.260 align:start position:0%
we need to do to get that back under
control<01:04:43.740> because<01:04:44.130> there<01:04:44.460> is<01:04:44.580> simply<01:04:44.790> no<01:04:45.060> doubt
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control because there is simply no doubt
01:04:45.270 --> 01:04:47.930 align:start position:0%
control because there is simply no doubt
it<01:04:45.510> has<01:04:45.930> gotten<01:04:46.140> wildly<01:04:46.830> out<01:04:46.950> of<01:04:46.980> balance<01:04:47.400> yeah
01:04:47.930 --> 01:04:47.940 align:start position:0%
it has gotten wildly out of balance yeah
01:04:47.940 --> 01:04:50.150 align:start position:0%
it has gotten wildly out of balance yeah
I<01:04:48.180> would<01:04:48.869> underscore<01:04:49.140> one<01:04:49.650> thing<01:04:49.950> which<01:04:50.130> is
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I would underscore one thing which is
01:04:50.160 --> 01:04:52.460 align:start position:0%
I would underscore one thing which is
some<01:04:50.760> of<01:04:50.850> you<01:04:50.940> were<01:04:51.240> here<01:04:51.630> when<01:04:51.810> about<01:04:52.200> a<01:04:52.230> month
01:04:52.460 --> 01:04:52.470 align:start position:0%
some of you were here when about a month
01:04:52.470 --> 01:04:56.240 align:start position:0%
some of you were here when about a month
ago<01:04:52.590> Larry<01:04:53.250> Lessig<01:04:53.670> was<01:04:53.970> on<01:04:54.690> this<01:04:54.930> stage<01:04:55.250> who
01:04:56.240 --> 01:04:56.250 align:start position:0%
ago Larry Lessig was on this stage who
01:04:56.250 --> 01:04:57.770 align:start position:0%
ago Larry Lessig was on this stage who
is<01:04:56.400> a<01:04:56.430> law<01:04:56.850> professor<01:04:57.060> at<01:04:57.300> Harvard<01:04:57.630> who's
01:04:57.770 --> 01:04:57.780 align:start position:0%
is a law professor at Harvard who's
01:04:57.780 --> 01:05:00.109 align:start position:0%
is a law professor at Harvard who's
catalyzed<01:04:58.770> incredible<01:04:59.369> change<01:04:59.610> in<01:04:59.850> effort
01:05:00.109 --> 01:05:00.119 align:start position:0%
catalyzed incredible change in effort
01:05:00.119 --> 01:05:02.150 align:start position:0%
catalyzed incredible change in effort
right<01:05:00.270> now<01:05:00.450> in<01:05:00.780> rethinking<01:05:01.560> how<01:05:01.860> we<01:05:01.890> do
01:05:02.150 --> 01:05:02.160 align:start position:0%
right now in rethinking how we do
01:05:02.160 --> 01:05:04.880 align:start position:0%
right now in rethinking how we do
campaign<01:05:02.369> finance<01:05:02.910> in<01:05:03.090> this<01:05:03.210> country<01:05:03.570> and<01:05:04.110> in
01:05:04.880 --> 01:05:04.890 align:start position:0%
campaign finance in this country and in
01:05:04.890 --> 01:05:07.340 align:start position:0%
campaign finance in this country and in
particular<01:05:05.340> trying<01:05:05.580> to<01:05:05.730> restrain<01:05:06.150> and<01:05:07.020> curb
01:05:07.340 --> 01:05:07.350 align:start position:0%
particular trying to restrain and curb
01:05:07.350 --> 01:05:10.970 align:start position:0%
particular trying to restrain and curb
the<01:05:08.190> outsize<01:05:08.610> voice<01:05:09.300> and<01:05:09.600> influence<01:05:10.020> of<01:05:10.260> big
01:05:10.970 --> 01:05:10.980 align:start position:0%
the outsize voice and influence of big
01:05:10.980 --> 01:05:13.220 align:start position:0%
the outsize voice and influence of big
money<01:05:11.280> and<01:05:11.730> you<01:05:12.330> know<01:05:12.420> organized<01:05:12.810> money<01:05:13.050> and
01:05:13.220 --> 01:05:13.230 align:start position:0%
money and you know organized money and
01:05:13.230 --> 01:05:16.820 align:start position:0%
money and you know organized money and
corporate<01:05:13.560> power<01:05:14.340> in<01:05:14.610> politics<01:05:15.090> and<01:05:15.360> the<01:05:16.020> one
01:05:16.820 --> 01:05:16.830 align:start position:0%
corporate power in politics and the one
01:05:16.830 --> 01:05:17.660 align:start position:0%
corporate power in politics and the one
thing<01:05:16.950> that<01:05:16.980> I<01:05:17.130> would<01:05:17.220> say<01:05:17.280> apart<01:05:17.610> from
01:05:17.660 --> 01:05:17.670 align:start position:0%
thing that I would say apart from
01:05:17.670 --> 01:05:20.930 align:start position:0%
thing that I would say apart from
campaign<01:05:18.210> finance<01:05:18.540> reform<01:05:18.720> is<01:05:19.760> one<01:05:20.760> of<01:05:20.850> the
01:05:20.930 --> 01:05:20.940 align:start position:0%
campaign finance reform is one of the
01:05:20.940 --> 01:05:22.840 align:start position:0%
campaign finance reform is one of the
opportunities<01:05:21.180> we<01:05:21.540> have<01:05:21.690> right<01:05:22.170> now<01:05:22.350> is
01:05:22.840 --> 01:05:22.850 align:start position:0%
opportunities we have right now is
01:05:22.850 --> 01:05:24.859 align:start position:0%
opportunities we have right now is
changing<01:05:23.850> what<01:05:24.000> we<01:05:24.119> think<01:05:24.420> of<01:05:24.630> as
01:05:24.859 --> 01:05:24.869 align:start position:0%
changing what we think of as
01:05:24.869 --> 01:05:28.820 align:start position:0%
changing what we think of as
shareholders<01:05:25.880> right<01:05:26.880> so<01:05:27.560> companies<01:05:28.560> right
01:05:28.820 --> 01:05:28.830 align:start position:0%
shareholders right so companies right
01:05:28.830 --> 01:05:32.359 align:start position:0%
shareholders right so companies right
now<01:05:28.890> CEOs<01:05:29.700> are<01:05:30.260> encouraged<01:05:31.260> public<01:05:32.010> companies
01:05:32.359 --> 01:05:32.369 align:start position:0%
now CEOs are encouraged public companies
01:05:32.369 --> 01:05:34.310 align:start position:0%
now CEOs are encouraged public companies
are<01:05:32.580> encouraged<01:05:32.970> to<01:05:33.030> think<01:05:33.210> of<01:05:33.480> their<01:05:33.810> job<01:05:34.080> as
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are encouraged to think of their job as
01:05:34.320 --> 01:05:36.920 align:start position:0%
are encouraged to think of their job as
maximizing<01:05:34.800> shareholder<01:05:35.010> value<01:05:35.630> and<01:05:36.630> we<01:05:36.780> have
01:05:36.920 --> 01:05:36.930 align:start position:0%
maximizing shareholder value and we have
01:05:36.930 --> 01:05:39.170 align:start position:0%
maximizing shareholder value and we have
an<01:05:37.050> associate<01:05:37.560> guy<01:05:38.550> named<01:05:38.730> Bill<01:05:38.820> Budinger
01:05:39.170 --> 01:05:39.180 align:start position:0%
an associate guy named Bill Budinger
01:05:39.180 --> 01:05:40.850 align:start position:0%
an associate guy named Bill Budinger
who's<01:05:39.360> a<01:05:39.390> successful<01:05:40.110> business<01:05:40.380> person<01:05:40.560> in
01:05:40.850 --> 01:05:40.860 align:start position:0%
who's a successful business person in
01:05:40.860 --> 01:05:43.130 align:start position:0%
who's a successful business person in
Colorado<01:05:41.609> who<01:05:42.330> has<01:05:42.450> started<01:05:42.840> this<01:05:42.930> new
01:05:43.130 --> 01:05:43.140 align:start position:0%
Colorado who has started this new
01:05:43.140 --> 01:05:45.310 align:start position:0%
Colorado who has started this new
project<01:05:43.410> out<01:05:44.070> of<01:05:44.130> the<01:05:44.190> brookings<01:05:44.490> institution
01:05:45.310 --> 01:05:45.320 align:start position:0%
project out of the brookings institution
01:05:45.320 --> 01:05:47.599 align:start position:0%
project out of the brookings institution
which<01:05:46.320> has<01:05:46.470> a<01:05:46.500> very<01:05:46.740> simple<01:05:47.010> premise<01:05:47.220> it's<01:05:47.520> a
01:05:47.599 --> 01:05:47.609 align:start position:0%
which has a very simple premise it's a
01:05:47.609 --> 01:05:50.000 align:start position:0%
which has a very simple premise it's a
project<01:05:47.820> to<01:05:48.480> explore<01:05:48.930> on<01:05:49.260> both<01:05:49.440> an<01:05:49.590> ethical
01:05:50.000 --> 01:05:50.010 align:start position:0%
project to explore on both an ethical
01:05:50.010 --> 01:05:52.490 align:start position:0%
project to explore on both an ethical
level<01:05:50.310> and<01:05:50.520> a<01:05:50.790> legal<01:05:51.210> level<01:05:51.420> what<01:05:52.290> it<01:05:52.380> would
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level and a legal level what it would
01:05:52.500 --> 01:05:54.470 align:start position:0%
level and a legal level what it would
mean<01:05:52.530> for<01:05:52.740> society<01:05:53.130> to<01:05:53.520> be<01:05:53.760> considered<01:05:54.300> a
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mean for society to be considered a
01:05:54.480 --> 01:05:57.920 align:start position:0%
mean for society to be considered a
shareholder<01:05:55.850> right<01:05:56.850> not<01:05:57.240> just<01:05:57.390> as<01:05:57.510> a<01:05:57.540> kind<01:05:57.869> of
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shareholder right not just as a kind of
01:05:57.930 --> 01:05:59.210 align:start position:0%
shareholder right not just as a kind of
a<01:05:57.960> rhetorical<01:05:58.410> turn<01:05:58.590> of<01:05:58.740> phrase<01:05:58.980> but
01:05:59.210 --> 01:05:59.220 align:start position:0%
a rhetorical turn of phrase but
01:05:59.220 --> 01:06:00.920 align:start position:0%
a rhetorical turn of phrase but
literally<01:05:59.609> to<01:05:59.820> kind<01:05:59.970> of<01:06:00.000> think<01:06:00.210> about<01:06:00.330> how<01:06:00.869> you
01:06:00.920 --> 01:06:00.930 align:start position:0%
literally to kind of think about how you
01:06:00.930 --> 01:06:02.630 align:start position:0%
literally to kind of think about how you
account<01:06:01.410> for<01:06:01.530> the<01:06:01.740> ways<01:06:01.890> in<01:06:02.190> which<01:06:02.220> any
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account for the ways in which any
01:06:02.640 --> 01:06:05.870 align:start position:0%
account for the ways in which any
corporation<01:06:03.980> incorporated<01:06:04.980> in<01:06:05.490> the<01:06:05.550> United
01:06:05.870 --> 01:06:05.880 align:start position:0%
corporation incorporated in the United
01:06:05.880 --> 01:06:08.720 align:start position:0%
corporation incorporated in the United
States<01:06:05.910> has<01:06:06.470> benefits<01:06:07.470> that<01:06:07.859> corporations
01:06:08.720 --> 01:06:08.730 align:start position:0%
States has benefits that corporations
01:06:08.730 --> 01:06:10.940 align:start position:0%
States has benefits that corporations
incorporated<01:06:09.450> say<01:06:09.690> in<01:06:09.900> Somalia<01:06:10.380> do<01:06:10.590> not<01:06:10.740> have
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incorporated say in Somalia do not have
01:06:10.950 --> 01:06:14.300 align:start position:0%
incorporated say in Somalia do not have
right<01:06:11.850> the<01:06:12.240> rule<01:06:12.420> of<01:06:12.450> law<01:06:12.859> the<01:06:13.859> ability<01:06:14.220> to
01:06:14.300 --> 01:06:14.310 align:start position:0%
right the rule of law the ability to
01:06:14.310 --> 01:06:16.310 align:start position:0%
right the rule of law the ability to
have<01:06:14.490> a<01:06:14.520> functioning<01:06:15.030> market<01:06:15.320> infrastructure
01:06:16.310 --> 01:06:16.320 align:start position:0%
have a functioning market infrastructure
01:06:16.320 --> 01:06:18.710 align:start position:0%
have a functioning market infrastructure
an<01:06:16.590> educated<01:06:17.250> workforce<01:06:17.430> the<01:06:18.119> absence<01:06:18.600> of
01:06:18.710 --> 01:06:18.720 align:start position:0%
an educated workforce the absence of
01:06:18.720 --> 01:06:21.200 align:start position:0%
an educated workforce the absence of
random<01:06:19.170> gang<01:06:19.440> violence<01:06:19.740> to<01:06:20.460> disrupt<01:06:20.820> markets
01:06:21.200 --> 01:06:21.210 align:start position:0%
random gang violence to disrupt markets
01:06:21.210 --> 01:06:24.140 align:start position:0%
random gang violence to disrupt markets
right<01:06:21.660> this<01:06:21.990> incredible<01:06:22.550> set<01:06:23.550> of<01:06:23.580> investments
01:06:24.140 --> 01:06:24.150 align:start position:0%
right this incredible set of investments
01:06:24.150 --> 01:06:25.609 align:start position:0%
right this incredible set of investments
that<01:06:24.270> is<01:06:24.420> essentially<01:06:24.900> the<01:06:24.930> Commonwealth
01:06:25.609 --> 01:06:25.619 align:start position:0%
that is essentially the Commonwealth
01:06:25.619 --> 01:06:28.190 align:start position:0%
that is essentially the Commonwealth
right<01:06:26.580> and<01:06:26.790> it<01:06:27.150> has<01:06:27.300> to<01:06:27.390> be<01:06:27.480> accounted<01:06:27.660> for<01:06:27.869> in
01:06:28.190 --> 01:06:28.200 align:start position:0%
right and it has to be accounted for in
01:06:28.200 --> 01:06:30.890 align:start position:0%
right and it has to be accounted for in
the<01:06:28.619> share<01:06:28.890> price<01:06:29.160> in<01:06:29.430> the<01:06:29.940> market<01:06:30.270> cap<01:06:30.480> of<01:06:30.510> any
01:06:30.890 --> 01:06:30.900 align:start position:0%
the share price in the market cap of any
01:06:30.900 --> 01:06:32.660 align:start position:0%
the share price in the market cap of any
public<01:06:31.230> company<01:06:31.770> any<01:06:31.920> private<01:06:32.250> company<01:06:32.520> for
01:06:32.660 --> 01:06:32.670 align:start position:0%
public company any private company for
01:06:32.670 --> 01:06:35.450 align:start position:0%
public company any private company for
that<01:06:32.730> matter<01:06:32.790> right<01:06:33.359> this<01:06:34.109> that's<01:06:35.070> a<01:06:35.190> somewhat
01:06:35.450 --> 01:06:35.460 align:start position:0%
that matter right this that's a somewhat
01:06:35.460 --> 01:06:36.950 align:start position:0%
that matter right this that's a somewhat
technical<01:06:35.670> matter<01:06:36.090> but<01:06:36.300> again<01:06:36.540> it's<01:06:36.720> a<01:06:36.780> matter
01:06:36.950 --> 01:06:36.960 align:start position:0%
technical matter but again it's a matter
01:06:36.960 --> 01:06:39.230 align:start position:0%
technical matter but again it's a matter
of<01:06:37.109> I<01:06:37.590> keep<01:06:37.950> using<01:06:38.100> this<01:06:38.280> word<01:06:38.460> imagination
01:06:39.230 --> 01:06:39.240 align:start position:0%
of I keep using this word imagination
01:06:39.240 --> 01:06:43.790 align:start position:0%
of I keep using this word imagination
how<01:06:39.840> do<01:06:39.900> we<01:06:40.260> see<01:06:40.560> corporations<01:06:41.369> right<01:06:41.930> and<01:06:42.930> our
01:06:43.790 --> 01:06:43.800 align:start position:0%
how do we see corporations right and our
01:06:43.800 --> 01:06:45.830 align:start position:0%
how do we see corporations right and our
view<01:06:44.100> is<01:06:44.130> that<01:06:44.280> there's<01:06:45.180> both<01:06:45.420> a<01:06:45.510> lot<01:06:45.630> of<01:06:45.720> work
01:06:45.830 --> 01:06:45.840 align:start position:0%
view is that there's both a lot of work
01:06:45.840 --> 01:06:47.540 align:start position:0%
view is that there's both a lot of work
to<01:06:45.960> be<01:06:45.990> done<01:06:46.109> on<01:06:46.560> the<01:06:46.619> kind<01:06:47.010> of<01:06:47.070> legal<01:06:47.250> front
01:06:47.540 --> 01:06:47.550 align:start position:0%
to be done on the kind of legal front
01:06:47.550 --> 01:06:50.000 align:start position:0%
to be done on the kind of legal front
and<01:06:48.300> a<01:06:48.540> lot<01:06:48.690> of<01:06:48.810> work<01:06:48.960> to<01:06:49.109> be<01:06:49.140> done<01:06:49.350> on
01:06:50.000 --> 01:06:50.010 align:start position:0%
and a lot of work to be done on
01:06:50.010 --> 01:06:51.500 align:start position:0%
and a lot of work to be done on
and<01:06:50.070> this<01:06:50.190> normative<01:06:50.520> front<01:06:50.820> of<01:06:50.940> how<01:06:51.030> we<01:06:51.090> see
01:06:51.500 --> 01:06:51.510 align:start position:0%
and this normative front of how we see
01:06:51.510 --> 01:06:56.930 align:start position:0%
and this normative front of how we see
and<01:06:51.660> understand<01:06:52.460> corporations<01:06:53.960> yes<01:06:54.960> sir<01:06:55.940> yes
01:06:56.930 --> 01:06:56.940 align:start position:0%
and understand corporations yes sir yes
01:06:56.940 --> 01:07:00.320 align:start position:0%
and understand corporations yes sir yes
I<01:06:57.390> I<01:06:57.960> really<01:06:58.500> enjoyed<01:06:58.920> your<01:06:59.100> talk<01:06:59.370> you<01:06:59.760> you<01:07:00.030> got
01:07:00.320 --> 01:07:00.330 align:start position:0%
I I really enjoyed your talk you you got
01:07:00.330 --> 01:07:03.500 align:start position:0%
I I really enjoyed your talk you you got
me<01:07:00.360> thinking<01:07:00.990> about<01:07:01.560> a<01:07:01.770> number<01:07:02.220> of<01:07:02.430> notions<01:07:03.330> I
01:07:03.500 --> 01:07:03.510 align:start position:0%
me thinking about a number of notions I
01:07:03.510 --> 01:07:05.930 align:start position:0%
me thinking about a number of notions I
like<01:07:03.750> the<01:07:03.990> big<01:07:04.290> government<01:07:04.800> idea<01:07:05.190> but
01:07:05.930 --> 01:07:05.940 align:start position:0%
like the big government idea but
01:07:05.940 --> 01:07:09.080 align:start position:0%
like the big government idea but
executed<01:07:06.660> locally<01:07:07.380> or<01:07:07.500> whatever<01:07:07.770> but<01:07:08.070> I<01:07:08.310> think
01:07:09.080 --> 01:07:09.090 align:start position:0%
executed locally or whatever but I think
01:07:09.090 --> 01:07:14.810 align:start position:0%
executed locally or whatever but I think
back<01:07:09.300> to<01:07:10.310> ross<01:07:11.310> perot<01:07:11.780> and<01:07:12.780> what<01:07:13.260> he<01:07:13.350> did<01:07:13.620> is<01:07:14.010> he
01:07:14.810 --> 01:07:14.820 align:start position:0%
back to ross perot and what he did is he
01:07:14.820 --> 01:07:17.720 align:start position:0%
back to ross perot and what he did is he
tried<01:07:15.600> he<01:07:16.230> came<01:07:16.500> up<01:07:16.650> with<01:07:16.800> these<01:07:16.890> graphs<01:07:17.340> you
01:07:17.720 --> 01:07:17.730 align:start position:0%
tried he came up with these graphs you
01:07:17.730 --> 01:07:21.080 align:start position:0%
tried he came up with these graphs you
know<01:07:17.850> we<01:07:17.970> tried<01:07:18.300> to<01:07:18.600> explain<01:07:19.020> now<01:07:19.860> a<01:07:20.310> couple<01:07:20.820> of
01:07:21.080 --> 01:07:21.090 align:start position:0%
know we tried to explain now a couple of
01:07:21.090 --> 01:07:24.440 align:start position:0%
know we tried to explain now a couple of
the<01:07:21.270> examples<01:07:21.390> that<01:07:22.020> you<01:07:22.380> used<01:07:23.030> the<01:07:24.030> example
01:07:24.440 --> 01:07:24.450 align:start position:0%
the examples that you used the example
01:07:24.450 --> 01:07:26.660 align:start position:0%
the examples that you used the example
of<01:07:24.810> the<01:07:25.020> education<01:07:25.680> system<01:07:25.920> the<01:07:26.280> wave<01:07:26.430> out
01:07:26.660 --> 01:07:26.670 align:start position:0%
of the education system the wave out
01:07:26.670 --> 01:07:31.460 align:start position:0%
of the education system the wave out
part<01:07:28.580> we<01:07:29.580> know<01:07:29.790> about<01:07:29.820> the<01:07:30.150> local<01:07:30.900> banks<01:07:31.290> and
01:07:31.460 --> 01:07:31.470 align:start position:0%
part we know about the local banks and
01:07:31.470 --> 01:07:34.820 align:start position:0%
part we know about the local banks and
so<01:07:31.680> forth<01:07:32.070> so<01:07:32.340> so<01:07:33.210> right<01:07:33.450> now<01:07:33.480> out<01:07:34.200> there<01:07:34.620> we've
01:07:34.820 --> 01:07:34.830 align:start position:0%
so forth so so right now out there we've
01:07:34.830 --> 01:07:38.330 align:start position:0%
so forth so so right now out there we've
got<01:07:35.120> occupy<01:07:36.380> you<01:07:37.380> know<01:07:37.500> going<01:07:37.890> about<01:07:38.100> who
01:07:38.330 --> 01:07:38.340 align:start position:0%
got occupy you know going about who
01:07:38.340 --> 01:07:41.600 align:start position:0%
got occupy you know going about who
knows<01:07:38.550> what<01:07:38.910> but<01:07:39.390> but<01:07:39.420> for<01:07:40.170> good<01:07:40.320> reasons<01:07:40.800> we
01:07:41.600 --> 01:07:41.610 align:start position:0%
knows what but but for good reasons we
01:07:41.610 --> 01:07:44.000 align:start position:0%
knows what but but for good reasons we
have<01:07:41.820> the<01:07:41.970> politicians<01:07:42.780> that<01:07:43.590> are<01:07:43.650> going<01:07:43.920> to
01:07:44.000 --> 01:07:44.010 align:start position:0%
have the politicians that are going to
01:07:44.010 --> 01:07:45.140 align:start position:0%
have the politicians that are going to
go<01:07:44.160> and<01:07:44.370> they're<01:07:44.490> going<01:07:44.610> to<01:07:44.670> say<01:07:44.910> that
01:07:45.140 --> 01:07:45.150 align:start position:0%
go and they're going to say that
01:07:45.150 --> 01:07:49.100 align:start position:0%
go and they're going to say that
statement<01:07:45.720> about<01:07:45.980> don't<01:07:46.980> tax<01:07:47.250> the<01:07:47.400> rich<01:07:47.840> so<01:07:48.840> in
01:07:49.100 --> 01:07:49.110 align:start position:0%
statement about don't tax the rich so in
01:07:49.110 --> 01:07:51.590 align:start position:0%
statement about don't tax the rich so in
other<01:07:49.230> words<01:07:49.530> what<01:07:49.920> what<01:07:50.160> I<01:07:50.190> think<01:07:50.580> we<01:07:50.880> need<01:07:50.910> is
01:07:51.590 --> 01:07:51.600 align:start position:0%
other words what what I think we need is
01:07:51.600 --> 01:07:55.400 align:start position:0%
other words what what I think we need is
is<01:07:52.110> we<01:07:52.950> need<01:07:53.190> to<01:07:53.550> be<01:07:53.820> able<01:07:53.970> to<01:07:54.450> somehow<01:07:54.810> tell
01:07:55.400 --> 01:07:55.410 align:start position:0%
is we need to be able to somehow tell
01:07:55.410 --> 01:07:58.400 align:start position:0%
is we need to be able to somehow tell
that<01:07:55.680> story<01:07:55.950> in<01:07:56.700> more<01:07:57.450> detail<01:07:57.990> and<01:07:58.200> more
01:07:58.400 --> 01:07:58.410 align:start position:0%
that story in more detail and more
01:07:58.410 --> 01:08:01.220 align:start position:0%
that story in more detail and more
graphically<01:07:59.250> that<01:08:00.000> if<01:08:00.210> we<01:08:00.390> do<01:08:00.630> some<01:08:01.020> of<01:08:01.140> the
01:08:01.220 --> 01:08:01.230 align:start position:0%
graphically that if we do some of the
01:08:01.230 --> 01:08:04.460 align:start position:0%
graphically that if we do some of the
things<01:08:01.260> that<01:08:01.830> you<01:08:02.130> spoke<01:08:02.820> of<01:08:03.230> what's<01:08:04.230> the
01:08:04.460 --> 01:08:04.470 align:start position:0%
things that you spoke of what's the
01:08:04.470 --> 01:08:07.430 align:start position:0%
things that you spoke of what's the
impact<01:08:05.010> if<01:08:05.310> you<01:08:05.430> did<01:08:05.730> this<01:08:06.030> and<01:08:06.360> and<01:08:06.900> did<01:08:07.200> this
01:08:07.430 --> 01:08:07.440 align:start position:0%
impact if you did this and and did this
01:08:07.440 --> 01:08:11.300 align:start position:0%
impact if you did this and and did this
all<01:08:07.830> of<01:08:08.010> a<01:08:08.100> sudden<01:08:08.550> you'll<01:08:08.700> see<01:08:08.970> that<01:08:09.630> the<01:08:10.310> that
01:08:11.300 --> 01:08:11.310 align:start position:0%
all of a sudden you'll see that the that
01:08:11.310 --> 01:08:13.160 align:start position:0%
all of a sudden you'll see that the that
the<01:08:11.340> number<01:08:11.910> of<01:08:12.060> people<01:08:12.300> that<01:08:12.630> can<01:08:12.810> be<01:08:12.840> put
01:08:13.160 --> 01:08:13.170 align:start position:0%
the number of people that can be put
01:08:13.170 --> 01:08:16.670 align:start position:0%
the number of people that can be put
back<01:08:13.380> to<01:08:13.650> work<01:08:13.680> I<01:08:14.160> mean<01:08:14.310> why<01:08:14.550> is<01:08:14.580> it<01:08:15.000> that<01:08:15.680> that
01:08:16.670 --> 01:08:16.680 align:start position:0%
back to work I mean why is it that that
01:08:16.680 --> 01:08:20.809 align:start position:0%
back to work I mean why is it that that
Barack<01:08:17.220> Obama<01:08:17.670> cannot<01:08:19.310> articulate<01:08:20.310> well
01:08:20.809 --> 01:08:20.819 align:start position:0%
Barack Obama cannot articulate well
01:08:20.819 --> 01:08:23.059 align:start position:0%
Barack Obama cannot articulate well
enough<01:08:21.210> that<01:08:21.450> if<01:08:21.990> we<01:08:22.140> create<01:08:22.500> these<01:08:22.710> job
01:08:23.059 --> 01:08:23.069 align:start position:0%
enough that if we create these job
01:08:23.069 --> 01:08:25.519 align:start position:0%
enough that if we create these job
programs<01:08:23.700> you<01:08:24.390> know<01:08:24.509> that<01:08:24.750> things<01:08:25.109> will<01:08:25.290> start
01:08:25.519 --> 01:08:25.529 align:start position:0%
programs you know that things will start
01:08:25.529 --> 01:08:28.970 align:start position:0%
programs you know that things will start
to<01:08:25.650> get<01:08:25.920> better<01:08:26.100> so<01:08:26.460> what<01:08:26.700> we<01:08:26.850> need<01:08:27.150> is<01:08:27.480> I<01:08:28.410> like
01:08:28.970 --> 01:08:28.980 align:start position:0%
to get better so what we need is I like
01:08:28.980 --> 01:08:32.390 align:start position:0%
to get better so what we need is I like
your<01:08:29.190> paradigms<01:08:29.790> but<01:08:30.600> but<01:08:30.930> you<01:08:31.109> you<01:08:31.410> we<01:08:31.799> must
01:08:32.390 --> 01:08:32.400 align:start position:0%
your paradigms but but you you we must
01:08:32.400 --> 01:08:34.430 align:start position:0%
your paradigms but but you you we must
create<01:08:32.790> these<01:08:33.089> examples<01:08:33.720> so<01:08:34.080> we<01:08:34.230> can
01:08:34.430 --> 01:08:34.440 align:start position:0%
create these examples so we can
01:08:34.440 --> 01:08:37.220 align:start position:0%
create these examples so we can
demonstrate<01:08:34.740> that<01:08:35.520> to<01:08:35.880> people<01:08:36.810> and<01:08:37.020> give
01:08:37.220 --> 01:08:37.230 align:start position:0%
demonstrate that to people and give
01:08:37.230 --> 01:08:39.070 align:start position:0%
demonstrate that to people and give
people<01:08:37.650> information<01:08:37.830> that<01:08:38.580> they<01:08:38.759> can<01:08:38.940> use
01:08:39.070 --> 01:08:39.080 align:start position:0%
people information that they can use
01:08:39.080 --> 01:08:44.320 align:start position:0%
people information that they can use
yeah<01:08:40.190> totally<01:08:41.190> agree<01:08:41.430> totally<01:08:41.759> agree<01:08:42.150> and
01:08:44.320 --> 01:08:44.330 align:start position:0%
yeah totally agree totally agree and
01:08:44.330 --> 01:08:47.180 align:start position:0%
yeah totally agree totally agree and
we've<01:08:45.330> started<01:08:45.600> a<01:08:45.779> little<01:08:45.990> bit<01:08:46.140> on<01:08:46.259> that<01:08:46.290> but
01:08:47.180 --> 01:08:47.190 align:start position:0%
we've started a little bit on that but
01:08:47.190 --> 01:08:48.620 align:start position:0%
we've started a little bit on that but
but<01:08:47.430> I<01:08:47.490> would<01:08:47.670> again<01:08:47.850> say<01:08:48.150> that<01:08:48.299> this<01:08:48.390> is<01:08:48.540> a
01:08:48.620 --> 01:08:48.630 align:start position:0%
but I would again say that this is a
01:08:48.630 --> 01:08:50.680 align:start position:0%
but I would again say that this is a
distributed<01:08:49.170> shared<01:08:49.310> responsibility<01:08:50.310> right
01:08:50.680 --> 01:08:50.690 align:start position:0%
distributed shared responsibility right
01:08:50.690 --> 01:08:53.329 align:start position:0%
distributed shared responsibility right
what<01:08:51.690> we've<01:08:51.839> started<01:08:51.960> on<01:08:52.350> as<01:08:52.710> we<01:08:52.859> watch<01:08:53.069> the
01:08:53.329 --> 01:08:53.339 align:start position:0%
what we've started on as we watch the
01:08:53.339 --> 01:08:54.530 align:start position:0%
what we've started on as we watch the
Occupy<01:08:53.759> and<01:08:54.000> a<01:08:54.029> ninety-nine<01:08:54.390> percent
01:08:54.530 --> 01:08:54.540 align:start position:0%
Occupy and a ninety-nine percent
01:08:54.540 --> 01:08:59.090 align:start position:0%
Occupy and a ninety-nine percent
movement<01:08:55.640> catch<01:08:56.640> fire<01:08:57.020> is<01:08:58.020> to<01:08:58.259> try<01:08:58.470> to<01:08:58.500> provide
01:08:59.090 --> 01:08:59.100 align:start position:0%
movement catch fire is to try to provide
01:08:59.100 --> 01:09:02.670 align:start position:0%
movement catch fire is to try to provide
for<01:08:59.910> public<01:09:00.750> conversation
01:09:02.670 --> 01:09:02.680 align:start position:0%
for public conversation
01:09:02.680 --> 01:09:05.760 align:start position:0%
for public conversation
facts<01:09:03.670> statistics<01:09:04.290> arguments<01:09:05.290> visual
01:09:05.760 --> 01:09:05.770 align:start position:0%
facts statistics arguments visual
01:09:05.770 --> 01:09:07.110 align:start position:0%
facts statistics arguments visual
depictions<01:09:06.310> of<01:09:06.550> some<01:09:06.700> of<01:09:06.820> what<01:09:06.910> we've<01:09:07.030> been
01:09:07.110 --> 01:09:07.120 align:start position:0%
depictions of some of what we've been
01:09:07.120 --> 01:09:08.340 align:start position:0%
depictions of some of what we've been
talking<01:09:07.300> about<01:09:07.510> here<01:09:07.720> these<01:09:07.840> trends<01:09:08.290> of
01:09:08.340 --> 01:09:08.350 align:start position:0%
talking about here these trends of
01:09:08.350 --> 01:09:10.380 align:start position:0%
talking about here these trends of
inequality<01:09:08.950> the<01:09:09.070> ways<01:09:09.250> in<01:09:09.460> which<01:09:09.490> the
01:09:10.380 --> 01:09:10.390 align:start position:0%
inequality the ways in which the
01:09:10.390 --> 01:09:12.150 align:start position:0%
inequality the ways in which the
wealthiest<01:09:10.720> Americans<01:09:11.230> have<01:09:11.470> used<01:09:11.950> their
01:09:12.150 --> 01:09:12.160 align:start position:0%
wealthiest Americans have used their
01:09:12.160 --> 01:09:15.330 align:start position:0%
wealthiest Americans have used their
wealth<01:09:12.370> to<01:09:12.850> become<01:09:13.150> wealthier<01:09:13.510> right<01:09:14.100> and<01:09:15.100> to
01:09:15.330 --> 01:09:15.340 align:start position:0%
wealth to become wealthier right and to
01:09:15.340 --> 01:09:18.600 align:start position:0%
wealth to become wealthier right and to
and<01:09:15.580> to<01:09:15.610> create<01:09:15.850> materials<01:09:16.390> that<01:09:17.070> help<01:09:18.070> the<01:09:18.280> 99
01:09:18.600 --> 01:09:18.610 align:start position:0%
and to create materials that help the 99
01:09:18.610 --> 01:09:20.430 align:start position:0%
and to create materials that help the 99
percent<01:09:18.910> movement<01:09:19.240> convert<01:09:19.630> make<01:09:20.290> that
01:09:20.430 --> 01:09:20.440 align:start position:0%
percent movement convert make that
01:09:20.440 --> 01:09:21.960 align:start position:0%
percent movement convert make that
transition<01:09:20.650> from<01:09:21.100> the<01:09:21.160> raw<01:09:21.400> expression<01:09:21.880> of
01:09:21.960 --> 01:09:21.970 align:start position:0%
transition from the raw expression of
01:09:21.970 --> 01:09:24.240 align:start position:0%
transition from the raw expression of
anger<01:09:22.180> to<01:09:23.140> the<01:09:23.230> making<01:09:23.380> of<01:09:23.560> arguments<01:09:24.100> that
01:09:24.240 --> 01:09:24.250 align:start position:0%
anger to the making of arguments that
01:09:24.250 --> 01:09:27.030 align:start position:0%
anger to the making of arguments that
can<01:09:24.400> persuade<01:09:24.760> other<01:09:24.940> people<01:09:25.740> but<01:09:26.740> I<01:09:26.800> think
01:09:27.030 --> 01:09:27.040 align:start position:0%
can persuade other people but I think
01:09:27.040 --> 01:09:28.350 align:start position:0%
can persuade other people but I think
you're<01:09:27.190> right<01:09:27.310> that<01:09:27.580> this<01:09:27.700> is<01:09:27.880> something<01:09:28.120> that
01:09:28.350 --> 01:09:28.360 align:start position:0%
you're right that this is something that
01:09:28.360 --> 01:09:30.240 align:start position:0%
you're right that this is something that
you<01:09:28.780> know<01:09:28.900> this<01:09:29.170> is<01:09:29.320> a<01:09:29.350> big<01:09:29.560> story<01:09:29.770> that<01:09:30.010> we<01:09:30.100> all
01:09:30.240 --> 01:09:30.250 align:start position:0%
you know this is a big story that we all
01:09:30.250 --> 01:09:32.220 align:start position:0%
you know this is a big story that we all
have<01:09:30.280> to<01:09:30.430> tell<01:09:30.670> and<01:09:31.510> we<01:09:31.630> off<01:09:31.750> to<01:09:31.780> figure<01:09:32.020> out
01:09:32.220 --> 01:09:32.230 align:start position:0%
have to tell and we off to figure out
01:09:32.230 --> 01:09:34.200 align:start position:0%
have to tell and we off to figure out
way<01:09:32.350> some<01:09:32.650> of<01:09:32.740> you<01:09:32.830> people<01:09:33.010> are<01:09:33.370> here<01:09:33.970> as
01:09:34.200 --> 01:09:34.210 align:start position:0%
way some of you people are here as
01:09:34.210 --> 01:09:35.760 align:start position:0%
way some of you people are here as
business<01:09:34.540> people<01:09:34.720> some<01:09:35.080> of<01:09:35.110> you<01:09:35.290> are<01:09:35.410> here<01:09:35.440> as
01:09:35.760 --> 01:09:35.770 align:start position:0%
business people some of you are here as
01:09:35.770 --> 01:09:37.080 align:start position:0%
business people some of you are here as
members<01:09:36.040> of<01:09:36.070> unions<01:09:36.310> some<01:09:36.610> of<01:09:36.700> you<01:09:36.790> here<01:09:37.060> are
01:09:37.080 --> 01:09:37.090 align:start position:0%
members of unions some of you here are
01:09:37.090 --> 01:09:39.540 align:start position:0%
members of unions some of you here are
our<01:09:37.660> good<01:09:38.140> neighbors<01:09:38.470> in<01:09:38.680> neighborhoods<01:09:39.340> some
01:09:39.540 --> 01:09:39.550 align:start position:0%
our good neighbors in neighborhoods some
01:09:39.550 --> 01:09:41.250 align:start position:0%
our good neighbors in neighborhoods some
of<01:09:39.670> you<01:09:39.790> are<01:09:39.970> parents<01:09:40.510> and<01:09:40.690> grandparents
01:09:41.250 --> 01:09:41.260 align:start position:0%
of you are parents and grandparents
01:09:41.260 --> 01:09:43.740 align:start position:0%
of you are parents and grandparents
right<01:09:41.530> whatever<01:09:42.040> the<01:09:42.190> domain<01:09:42.520> is<01:09:42.720> finding<01:09:43.720> the
01:09:43.740 --> 01:09:43.750 align:start position:0%
right whatever the domain is finding the
01:09:43.750 --> 01:09:45.390 align:start position:0%
right whatever the domain is finding the
way<01:09:43.960> to<01:09:44.020> translate<01:09:44.650> what<01:09:44.920> we're<01:09:45.070> talking
01:09:45.390 --> 01:09:45.400 align:start position:0%
way to translate what we're talking
01:09:45.400 --> 01:09:47.520 align:start position:0%
way to translate what we're talking
about<01:09:45.430> so<01:09:46.420> that<01:09:46.570> it<01:09:46.660> can<01:09:46.750> be<01:09:46.870> heard<01:09:47.260> in<01:09:47.470> that
01:09:47.520 --> 01:09:47.530 align:start position:0%
about so that it can be heard in that
01:09:47.530 --> 01:09:51.390 align:start position:0%
about so that it can be heard in that
domain<01:09:48.810> and<01:09:49.810> that's<01:09:50.410> not<01:09:50.620> a<01:09:50.680> job<01:09:50.980> necessarily
01:09:51.390 --> 01:09:51.400 align:start position:0%
domain and that's not a job necessarily
01:09:51.400 --> 01:09:53.400 align:start position:0%
domain and that's not a job necessarily
for<01:09:51.610> us<01:09:51.760> to<01:09:51.970> do<01:09:52.120> it's<01:09:52.540> a<01:09:52.630> job<01:09:52.840> for<01:09:53.110> you<01:09:53.140> to<01:09:53.290> think
01:09:53.400 --> 01:09:53.410 align:start position:0%
for us to do it's a job for you to think
01:09:53.410 --> 01:09:54.750 align:start position:0%
for us to do it's a job for you to think
about<01:09:53.650> how<01:09:53.860> would<01:09:54.040> I<01:09:54.070> translate<01:09:54.580> some<01:09:54.730> of
01:09:54.750 --> 01:09:54.760 align:start position:0%
about how would I translate some of
01:09:54.760 --> 01:09:56.490 align:start position:0%
about how would I translate some of
these<01:09:54.880> things<01:09:55.120> so<01:09:55.390> that<01:09:55.510> folks<01:09:55.990> at<01:09:56.200> my<01:09:56.290> kitchen
01:09:56.490 --> 01:09:56.500 align:start position:0%
these things so that folks at my kitchen
01:09:56.500 --> 01:10:00.030 align:start position:0%
these things so that folks at my kitchen
table<01:09:56.680> or<01:09:57.100> my<01:09:57.250> work<01:09:57.760> table<01:09:58.060> or<01:09:58.450> my<01:09:58.800> Bible<01:09:59.800> study
01:10:00.030 --> 01:10:00.040 align:start position:0%
table or my work table or my Bible study
01:10:00.040 --> 01:10:01.740 align:start position:0%
table or my work table or my Bible study
circle<01:10:00.490> can<01:10:00.880> understand<01:10:01.330> what<01:10:01.510> we're<01:10:01.630> talking
01:10:01.740 --> 01:10:01.750 align:start position:0%
circle can understand what we're talking
01:10:01.750 --> 01:10:05.700 align:start position:0%
circle can understand what we're talking
about<01:10:02.010> in<01:10:03.010> ways<01:10:03.460> that<01:10:03.490> that<01:10:03.970> that<01:10:04.180> stick<01:10:04.710> the
01:10:05.700 --> 01:10:05.710 align:start position:0%
about in ways that that that stick the
01:10:05.710 --> 01:10:07.500 align:start position:0%
about in ways that that that stick the
the<01:10:06.100> and<01:10:06.730> I<01:10:06.820> think<01:10:07.000> that<01:10:07.180> you're<01:10:07.300> right
01:10:07.500 --> 01:10:07.510 align:start position:0%
the and I think that you're right
01:10:07.510 --> 01:10:09.870 align:start position:0%
the and I think that you're right
visually<01:10:08.470> it's<01:10:09.130> why<01:10:09.250> we<01:10:09.430> started<01:10:09.700> playing
01:10:09.870 --> 01:10:09.880 align:start position:0%
visually it's why we started playing
01:10:09.880 --> 01:10:13.080 align:start position:0%
visually it's why we started playing
with<01:10:10.090> this<01:10:10.300> first<01:10:11.020> draft<01:10:11.350> of<01:10:11.500> a<01:10:11.620> of<01:10:12.520> a<01:10:12.850> slide
01:10:13.080 --> 01:10:13.090 align:start position:0%
with this first draft of a of a slide
01:10:13.090 --> 01:10:14.670 align:start position:0%
with this first draft of a of a slide
deck<01:10:13.300> here<01:10:13.570> and<01:10:13.810> I<01:10:13.870> think<01:10:14.050> there's<01:10:14.200> more<01:10:14.260> to<01:10:14.440> be
01:10:14.670 --> 01:10:14.680 align:start position:0%
deck here and I think there's more to be
01:10:14.680 --> 01:10:20.730 align:start position:0%
deck here and I think there's more to be
done<01:10:14.850> visually<01:10:15.850> thank<01:10:16.780> you<01:10:16.870> Bill<01:10:19.500> let<01:10:20.500> me<01:10:20.590> say
01:10:20.730 --> 01:10:20.740 align:start position:0%
done visually thank you Bill let me say
01:10:20.740 --> 01:10:23.370 align:start position:0%
done visually thank you Bill let me say
first<01:10:20.770> of<01:10:21.100> all<01:10:21.540> enjoyed<01:10:22.540> your<01:10:22.720> first<01:10:22.870> book<01:10:23.140> and
01:10:23.370 --> 01:10:23.380 align:start position:0%
first of all enjoyed your first book and
01:10:23.380 --> 01:10:24.360 align:start position:0%
first of all enjoyed your first book and
I<01:10:23.440> enjoyed<01:10:23.680> your<01:10:23.710> second<01:10:24.220> book
01:10:24.360 --> 01:10:24.370 align:start position:0%
I enjoyed your second book
01:10:24.370 --> 01:10:26.730 align:start position:0%
I enjoyed your second book
congratulations<01:10:25.330> makes<01:10:25.690> you<01:10:25.870> feel<01:10:26.050> very
01:10:26.730 --> 01:10:26.740 align:start position:0%
congratulations makes you feel very
01:10:26.740 --> 01:10:31.980 align:start position:0%
congratulations makes you feel very
engaging<01:10:27.280> job<01:10:27.700> in<01:10:28.000> both<01:10:28.150> cases<01:10:30.720> seems<01:10:31.720> to<01:10:31.870> me
01:10:31.980 --> 01:10:31.990 align:start position:0%
engaging job in both cases seems to me
01:10:31.990 --> 01:10:33.630 align:start position:0%
engaging job in both cases seems to me
there's<01:10:32.200> a<01:10:32.260> serious<01:10:32.740> omission<01:10:32.950> on<01:10:33.430> this
01:10:33.630 --> 01:10:33.640 align:start position:0%
there's a serious omission on this
01:10:33.640 --> 01:10:38.310 align:start position:0%
there's a serious omission on this
discussion<01:10:34.270> of<01:10:36.120> moderating<01:10:37.120> people's<01:10:37.990> wealth
01:10:38.310 --> 01:10:38.320 align:start position:0%
discussion of moderating people's wealth
01:10:38.320 --> 01:10:41.250 align:start position:0%
discussion of moderating people's wealth
and<01:10:38.650> that<01:10:38.770> is<01:10:39.060> it<01:10:40.060> an<01:10:40.150> absolutely<01:10:40.810> essential
01:10:41.250 --> 01:10:41.260 align:start position:0%
and that is it an absolutely essential
01:10:41.260 --> 01:10:44.790 align:start position:0%
and that is it an absolutely essential
ingredient<01:10:42.160> of<01:10:42.370> our<01:10:43.270> economy<01:10:43.870> of<01:10:44.080> our
01:10:44.790 --> 01:10:44.800 align:start position:0%
ingredient of our economy of our
01:10:44.800 --> 01:10:48.120 align:start position:0%
ingredient of our economy of our
prosperity<01:10:45.600> is<01:10:46.600> the<01:10:46.840> thing<01:10:47.050> called<01:10:47.380> risk
01:10:48.120 --> 01:10:48.130 align:start position:0%
prosperity is the thing called risk
01:10:48.130 --> 01:10:52.380 align:start position:0%
prosperity is the thing called risk
capital<01:10:49.080> and<01:10:50.520> you're<01:10:51.520> not<01:10:51.670> going<01:10:51.880> to<01:10:51.940> get<01:10:52.060> risk
01:10:52.380 --> 01:10:52.390 align:start position:0%
capital and you're not going to get risk
01:10:52.390 --> 01:10:55.710 align:start position:0%
capital and you're not going to get risk
capital<01:10:52.840> from<01:10:53.320> the<01:10:53.500> middle<01:10:53.710> class<01:10:54.450> the<01:10:55.450> thing
01:10:55.710 --> 01:10:55.720 align:start position:0%
capital from the middle class the thing
01:10:55.720 --> 01:10:59.550 align:start position:0%
capital from the middle class the thing
that<01:10:56.020> makes<01:10:56.950> new<01:10:57.460> business<01:10:57.910> is<01:10:58.060> possible<01:10:58.690> that
01:10:59.550 --> 01:10:59.560 align:start position:0%
that makes new business is possible that
01:10:59.560 --> 01:11:02.880 align:start position:0%
that makes new business is possible that
makes<01:11:00.150> all<01:11:01.150> kinds<01:11:01.180> of<01:11:01.660> research<01:11:02.020> possible<01:11:02.650> a
01:11:02.880 --> 01:11:02.890 align:start position:0%
makes all kinds of research possible a
01:11:02.890 --> 01:11:06.450 align:start position:0%
makes all kinds of research possible a
whole<01:11:03.610> array<01:11:03.850> of<01:11:04.090> things<01:11:04.570> by<01:11:05.500> the<01:11:05.560> investment
01:11:06.450 --> 01:11:06.460 align:start position:0%
whole array of things by the investment
01:11:06.460 --> 01:11:10.230 align:start position:0%
whole array of things by the investment
of<01:11:06.640> those<01:11:06.880> who<01:11:07.120> have<01:11:07.410> enough<01:11:08.410> funding<01:11:09.220> to<01:11:09.280> be
01:11:10.230 --> 01:11:10.240 align:start position:0%
of those who have enough funding to be
01:11:10.240 --> 01:11:12.430 align:start position:0%
of those who have enough funding to be
comfortable<01:11:10.900> and<01:11:11.050> at<01:11:11.170> the<01:11:11.320> same<01:11:11.500> time
01:11:12.430 --> 01:11:12.440 align:start position:0%
comfortable and at the same time
01:11:12.440 --> 01:11:15.580 align:start position:0%
comfortable and at the same time
to<01:11:12.820> generate<01:11:13.820> and<01:11:14.060> make<01:11:14.210> available<01:11:14.590> risk
01:11:15.580 --> 01:11:15.590 align:start position:0%
to generate and make available risk
01:11:15.590 --> 01:11:19.620 align:start position:0%
to generate and make available risk
capital<01:11:15.920> I<01:11:16.310> would<01:11:16.969> love<01:11:17.090> to<01:11:17.150> address<01:11:17.750> that<01:11:18.190> so
01:11:19.620 --> 01:11:19.630 align:start position:0%
capital I would love to address that so
01:11:19.630 --> 01:11:24.160 align:start position:0%
capital I would love to address that so
of<01:11:20.630> course<01:11:20.719> you're<01:11:21.140> right<01:11:22.360> risk<01:11:23.360> capital<01:11:23.810> is
01:11:24.160 --> 01:11:24.170 align:start position:0%
of course you're right risk capital is
01:11:24.170 --> 01:11:31.470 align:start position:0%
of course you're right risk capital is
it<01:11:25.180> Bill<01:11:26.180> Gates<01:11:26.390> he's<01:11:26.690> always<01:11:26.989> right<01:11:27.170> right
01:11:31.470 --> 01:11:31.480 align:start position:0%
01:11:31.480 --> 01:11:34.439 align:start position:0%
risk<01:11:32.480> capital<01:11:32.690> is<01:11:32.900> an<01:11:32.960> incredibly<01:11:33.380> important
01:11:34.439 --> 01:11:34.449 align:start position:0%
risk capital is an incredibly important
01:11:34.449 --> 01:11:38.979 align:start position:0%
risk capital is an incredibly important
and<01:11:37.000> relatively<01:11:38.000> unique<01:11:38.360> feature<01:11:38.630> of<01:11:38.780> the
01:11:38.979 --> 01:11:38.989 align:start position:0%
and relatively unique feature of the
01:11:38.989 --> 01:11:40.780 align:start position:0%
and relatively unique feature of the
American<01:11:39.380> economy<01:11:39.560> I<01:11:39.830> mean<01:11:40.040> let's<01:11:40.190> you<01:11:40.760> know
01:11:40.780 --> 01:11:40.790 align:start position:0%
American economy I mean let's you know
01:11:40.790 --> 01:11:43.560 align:start position:0%
American economy I mean let's you know
let's<01:11:40.880> be<01:11:41.300> clear<01:11:41.650> as<01:11:42.650> the<01:11:42.980> most
01:11:43.560 --> 01:11:43.570 align:start position:0%
let's be clear as the most
01:11:43.570 --> 01:11:46.090 align:start position:0%
let's be clear as the most
entrepreneurial<01:11:44.570> and<01:11:44.840> dynamic<01:11:45.320> economy<01:11:45.830> in
01:11:46.090 --> 01:11:46.100 align:start position:0%
entrepreneurial and dynamic economy in
01:11:46.100 --> 01:11:48.220 align:start position:0%
entrepreneurial and dynamic economy in
the<01:11:46.219> history<01:11:46.550> of<01:11:46.580> the<01:11:46.730> world<01:11:46.900> we<01:11:47.900> have
01:11:48.220 --> 01:11:48.230 align:start position:0%
the history of the world we have
01:11:48.230 --> 01:11:51.820 align:start position:0%
the history of the world we have
benefited<01:11:48.680> greatly<01:11:48.710> from<01:11:49.040> that<01:11:50.680> but<01:11:51.680> all
01:11:51.820 --> 01:11:51.830 align:start position:0%
benefited greatly from that but all
01:11:51.830 --> 01:11:54.910 align:start position:0%
benefited greatly from that but all
things<01:11:52.040> in<01:11:52.280> moderation<01:11:52.310> right<01:11:53.030> the<01:11:53.989> first<01:11:54.739> of
01:11:54.910 --> 01:11:54.920 align:start position:0%
things in moderation right the first of
01:11:54.920 --> 01:11:57.820 align:start position:0%
things in moderation right the first of
all<01:11:55.040> bill<01:11:55.730> I<01:11:56.050> would<01:11:57.050> take<01:11:57.230> issue<01:11:57.380> with<01:11:57.560> your
01:11:57.820 --> 01:11:57.830 align:start position:0%
all bill I would take issue with your
01:11:57.830 --> 01:11:59.680 align:start position:0%
all bill I would take issue with your
first<01:11:58.070> claim<01:11:58.370> that<01:11:58.670> the<01:11:58.880> risk<01:11:59.120> capital<01:11:59.360> will
01:11:59.680 --> 01:11:59.690 align:start position:0%
first claim that the risk capital will
01:11:59.690 --> 01:12:01.479 align:start position:0%
first claim that the risk capital will
not<01:11:59.870> come<01:12:00.140> from<01:12:00.350> the<01:12:00.500> from<01:12:00.980> the<01:12:01.010> middle<01:12:01.280> class
01:12:01.479 --> 01:12:01.489 align:start position:0%
not come from the from the middle class
01:12:01.489 --> 01:12:04.150 align:start position:0%
not come from the from the middle class
the<01:12:02.210> overwhelming<01:12:02.780> majority<01:12:03.320> of<01:12:03.860> risk
01:12:04.150 --> 01:12:04.160 align:start position:0%
the overwhelming majority of risk
01:12:04.160 --> 01:12:07.150 align:start position:0%
the overwhelming majority of risk
capital<01:12:04.489> available<01:12:05.239> to<01:12:06.140> venture<01:12:06.530> capitalists
01:12:07.150 --> 01:12:07.160 align:start position:0%
capital available to venture capitalists
01:12:07.160 --> 01:12:10.180 align:start position:0%
capital available to venture capitalists
comes<01:12:07.730> from<01:12:08.060> pension<01:12:08.540> funds<01:12:08.930> which<01:12:09.860> are<01:12:09.980> from
01:12:10.180 --> 01:12:10.190 align:start position:0%
comes from pension funds which are from
01:12:10.190 --> 01:12:15.430 align:start position:0%
comes from pension funds which are from
the<01:12:10.310> middle<01:12:10.550> class<01:12:10.760> right<01:12:11.600> so<01:12:12.050> a<01:12:14.260> middle<01:12:15.260> class
01:12:15.430 --> 01:12:15.440 align:start position:0%
the middle class right so a middle class
01:12:15.440 --> 01:12:19.120 align:start position:0%
the middle class right so a middle class
which<01:12:16.219> is<01:12:16.430> more<01:12:16.880> prosperous<01:12:17.710> which<01:12:18.710> is<01:12:18.860> able
01:12:19.120 --> 01:12:19.130 align:start position:0%
which is more prosperous which is able
01:12:19.130 --> 01:12:24.700 align:start position:0%
which is more prosperous which is able
to<01:12:19.600> have<01:12:20.600> 401ks<01:12:21.190> to<01:12:22.330> to<01:12:23.330> have<01:12:23.540> pensions<01:12:24.140> to<01:12:24.380> put
01:12:24.700 --> 01:12:24.710 align:start position:0%
to have 401ks to to have pensions to put
01:12:24.710 --> 01:12:27.700 align:start position:0%
to have 401ks to to have pensions to put
money<01:12:24.860> away<01:12:25.300> creates<01:12:26.300> the<01:12:26.780> same<01:12:26.989> kind<01:12:27.260> of<01:12:27.380> pool
01:12:27.700 --> 01:12:27.710 align:start position:0%
money away creates the same kind of pool
01:12:27.710 --> 01:12:29.979 align:start position:0%
money away creates the same kind of pool
of<01:12:27.920> capital<01:12:28.130> that<01:12:28.400> wealthy<01:12:29.120> individuals<01:12:29.690> can
01:12:29.979 --> 01:12:29.989 align:start position:0%
of capital that wealthy individuals can
01:12:29.989 --> 01:12:32.410 align:start position:0%
of capital that wealthy individuals can
all<01:12:30.380> be<01:12:30.530> it<01:12:30.620> a<01:12:30.890> wealthy<01:12:31.580> individual<01:12:32.000> has<01:12:32.180> more
01:12:32.410 --> 01:12:32.420 align:start position:0%
all be it a wealthy individual has more
01:12:32.420 --> 01:12:34.090 align:start position:0%
all be it a wealthy individual has more
degrees<01:12:32.690> of<01:12:32.719> freedom<01:12:33.110> with<01:12:33.260> what<01:12:33.440> with<01:12:34.070> what
01:12:34.090 --> 01:12:34.100 align:start position:0%
degrees of freedom with what with what
01:12:34.100 --> 01:12:40.090 align:start position:0%
degrees of freedom with what with what
they<01:12:34.699> can<01:12:34.850> do<01:12:34.969> with<01:12:35.000> their<01:12:35.300> was<01:12:35.420> capital<01:12:35.870> but<01:12:39.100> I
01:12:40.090 --> 01:12:40.100 align:start position:0%
they can do with their was capital but I
01:12:40.100 --> 01:12:43.780 align:start position:0%
they can do with their was capital but I
think<01:12:40.930> I've<01:12:41.930> been<01:12:42.140> on<01:12:42.230> TV<01:12:43.070> shows<01:12:43.340> and<01:12:43.550> radio
01:12:43.780 --> 01:12:43.790 align:start position:0%
think I've been on TV shows and radio
01:12:43.790 --> 01:12:45.520 align:start position:0%
think I've been on TV shows and radio
stations<01:12:43.880> a<01:12:44.420> lot<01:12:44.600> lately<01:12:44.870> talking<01:12:45.290> about
01:12:45.520 --> 01:12:45.530 align:start position:0%
stations a lot lately talking about
01:12:45.530 --> 01:12:47.020 align:start position:0%
stations a lot lately talking about
taxes<01:12:46.010> and<01:12:46.190> the<01:12:46.250> rich<01:12:46.400> and<01:12:46.580> stuff<01:12:46.820> like<01:12:46.969> that
01:12:47.020 --> 01:12:47.030 align:start position:0%
taxes and the rich and stuff like that
01:12:47.030 --> 01:12:51.580 align:start position:0%
taxes and the rich and stuff like that
and<01:12:47.239> i<01:12:47.480> think<01:12:47.660> that<01:12:47.810> people<01:12:48.940> think<01:12:50.410> because<01:12:51.410> i
01:12:51.580 --> 01:12:51.590 align:start position:0%
and i think that people think because i
01:12:51.590 --> 01:12:53.320 align:start position:0%
and i think that people think because i
think<01:12:51.920> the<01:12:52.100> rate<01:12:52.460> should<01:12:52.670> be<01:12:52.730> raised<01:12:53.030> that<01:12:53.270> I
01:12:53.320 --> 01:12:53.330 align:start position:0%
think the rate should be raised that I
01:12:53.330 --> 01:12:55.420 align:start position:0%
think the rate should be raised that I
think<01:12:53.630> that<01:12:53.690> we<01:12:54.199> should<01:12:54.230> try<01:12:54.650> to<01:12:54.710> squish<01:12:55.219> out
01:12:55.420 --> 01:12:55.430 align:start position:0%
think that we should try to squish out
01:12:55.430 --> 01:12:59.500 align:start position:0%
think that we should try to squish out
rich<01:12:55.940> people<01:12:56.170> believe<01:12:57.170> me<01:12:57.350> I'm<01:12:57.560> rich<01:12:58.550> I<01:12:58.730> i'm
01:12:59.500 --> 01:12:59.510 align:start position:0%
rich people believe me I'm rich I i'm
01:12:59.510 --> 01:13:02.979 align:start position:0%
rich people believe me I'm rich I i'm
all<01:12:59.810> about<01:12:59.960> more<01:13:00.620> rich<01:13:00.860> people<01:13:01.160> but<01:13:01.370> i<01:13:01.989> think
01:13:02.979 --> 01:13:02.989 align:start position:0%
all about more rich people but i think
01:13:02.989 --> 01:13:08.860 align:start position:0%
all about more rich people but i think
it's<01:13:03.080> awesome<01:13:03.760> but<01:13:04.760> but<01:13:05.540> but<01:13:07.330> all<01:13:08.330> things<01:13:08.690> in
01:13:08.860 --> 01:13:08.870 align:start position:0%
it's awesome but but but all things in
01:13:08.870 --> 01:13:13.120 align:start position:0%
it's awesome but but but all things in
moderation<01:13:08.900> right<01:13:09.500> so<01:13:10.070> so<01:13:11.590> you<01:13:12.590> know<01:13:12.710> since
01:13:13.120 --> 01:13:13.130 align:start position:0%
moderation right so so you know since
01:13:13.130 --> 01:13:16.030 align:start position:0%
moderation right so so you know since
the<01:13:13.940> peak<01:13:14.150> of<01:13:14.330> American<01:13:14.840> productivity<01:13:15.620> the
01:13:16.030 --> 01:13:16.040 align:start position:0%
the peak of American productivity the
01:13:16.040 --> 01:13:18.490 align:start position:0%
the peak of American productivity the
tax<01:13:16.460> rates<01:13:16.699> on<01:13:16.880> rich<01:13:17.270> people<01:13:17.300> have<01:13:17.750> fallen
01:13:18.490 --> 01:13:18.500 align:start position:0%
tax rates on rich people have fallen
01:13:18.500 --> 01:13:22.570 align:start position:0%
tax rates on rich people have fallen
from<01:13:19.390> around<01:13:20.390> forty<01:13:20.750> two<01:13:20.900> percent<01:13:21.080> to<01:13:21.620> in<01:13:22.310> the
01:13:22.570 --> 01:13:22.580 align:start position:0%
from around forty two percent to in the
01:13:22.580 --> 01:13:24.870 align:start position:0%
from around forty two percent to in the
sixteen<01:13:23.179> seventeen<01:13:23.750> percent<01:13:23.960> range
01:13:24.870 --> 01:13:24.880 align:start position:0%
sixteen seventeen percent range
01:13:24.880 --> 01:13:28.560 align:start position:0%
sixteen seventeen percent range
um<01:13:25.739> you<01:13:26.739> know<01:13:26.770> I<01:13:26.889> I<01:13:27.280> simply<01:13:27.820> do<01:13:28.000> not<01:13:28.030> believe
01:13:28.560 --> 01:13:28.570 align:start position:0%
um you know I I simply do not believe
01:13:28.570 --> 01:13:30.870 align:start position:0%
um you know I I simply do not believe
that<01:13:28.960> we<01:13:29.080> would<01:13:29.230> eliminate<01:13:29.530> risk<01:13:29.980> capital<01:13:30.460> if
01:13:30.870 --> 01:13:30.880 align:start position:0%
that we would eliminate risk capital if
01:13:30.880 --> 01:13:33.149 align:start position:0%
that we would eliminate risk capital if
we<01:13:31.060> taxed<01:13:31.600> rich<01:13:31.840> people<01:13:32.230> at<01:13:32.380> historic<01:13:32.830> levels
01:13:33.149 --> 01:13:33.159 align:start position:0%
we taxed rich people at historic levels
01:13:33.159 --> 01:13:35.310 align:start position:0%
we taxed rich people at historic levels
again<01:13:33.310> I<01:13:33.670> don't<01:13:34.120> think<01:13:34.150> that<01:13:34.480> we<01:13:34.630> need<01:13:34.659> tax<01:13:35.110> be
01:13:35.310 --> 01:13:35.320 align:start position:0%
again I don't think that we need tax be
01:13:35.320 --> 01:13:39.510 align:start position:0%
again I don't think that we need tax be
the<01:13:36.010> wealthier<01:13:36.960> 95%<01:13:37.960> although<01:13:38.260> it<01:13:38.679> it's<01:13:39.280> worth
01:13:39.510 --> 01:13:39.520 align:start position:0%
the wealthier 95% although it it's worth
01:13:39.520 --> 01:13:43.470 align:start position:0%
the wealthier 95% although it it's worth
noting<01:13:39.820> that<01:13:40.889> America's<01:13:41.889> economy<01:13:42.480> was
01:13:43.470 --> 01:13:43.480 align:start position:0%
noting that America's economy was
01:13:43.480 --> 01:13:47.669 align:start position:0%
noting that America's economy was
growing<01:13:43.710> fastest<01:13:44.710> when<01:13:45.070> when<01:13:45.489> when<01:13:46.290> when<01:13:47.290> tax
01:13:47.669 --> 01:13:47.679 align:start position:0%
growing fastest when when when when tax
01:13:47.679 --> 01:13:49.979 align:start position:0%
growing fastest when when when when tax
rates<01:13:47.949> were<01:13:48.190> that<01:13:48.429> high<01:13:48.639> I<01:13:48.909> mean<01:13:49.090> just<01:13:49.300> it<01:13:49.780> is<01:13:49.960> a
01:13:49.979 --> 01:13:49.989 align:start position:0%
rates were that high I mean just it is a
01:13:49.989 --> 01:13:53.070 align:start position:0%
rates were that high I mean just it is a
matter<01:13:50.290> of<01:13:50.440> fact<01:13:50.860> that<01:13:51.310> that<01:13:51.880> that<01:13:52.179> it<01:13:52.810> was
01:13:53.070 --> 01:13:53.080 align:start position:0%
matter of fact that that that it was
01:13:53.080 --> 01:13:55.530 align:start position:0%
matter of fact that that that it was
somehow<01:13:53.409> possible<01:13:54.100> to<01:13:54.219> grow<01:13:54.400> like<01:13:54.610> crazy<01:13:54.850> and
01:13:55.530 --> 01:13:55.540 align:start position:0%
somehow possible to grow like crazy and
01:13:55.540 --> 01:13:59.220 align:start position:0%
somehow possible to grow like crazy and
have<01:13:55.929> tax<01:13:56.889> rates<01:13:57.130> that<01:13:57.340> high<01:13:57.520> but<01:13:58.080> you<01:13:59.080> know<01:13:59.199> I
01:13:59.220 --> 01:13:59.230 align:start position:0%
have tax rates that high but you know I
01:13:59.230 --> 01:14:02.340 align:start position:0%
have tax rates that high but you know I
I<01:13:59.440> simply<01:14:00.280> do<01:14:00.460> not<01:14:00.489> understand<01:14:01.300> why<01:14:01.480> it<01:14:01.960> makes
01:14:02.340 --> 01:14:02.350 align:start position:0%
I simply do not understand why it makes
01:14:02.350 --> 01:14:05.850 align:start position:0%
I simply do not understand why it makes
sense<01:14:02.530> to<01:14:03.040> let<01:14:03.699> somebody<01:14:04.030> who<01:14:04.540> is<01:14:05.350> in<01:14:05.650> the
01:14:05.850 --> 01:14:05.860 align:start position:0%
sense to let somebody who is in the
01:14:05.860 --> 01:14:07.530 align:start position:0%
sense to let somebody who is in the
private<01:14:06.280> equity<01:14:06.610> business<01:14:06.760> and<01:14:07.300> deploys
01:14:07.530 --> 01:14:07.540 align:start position:0%
private equity business and deploys
01:14:07.540 --> 01:14:09.240 align:start position:0%
private equity business and deploys
other<01:14:07.810> people's<01:14:08.170> capital<01:14:08.650> and<01:14:08.830> makes<01:14:08.949> a<01:14:09.100> half
01:14:09.240 --> 01:14:09.250 align:start position:0%
other people's capital and makes a half
01:14:09.250 --> 01:14:11.040 align:start position:0%
other people's capital and makes a half
a<01:14:09.400> billion<01:14:09.610> or<01:14:09.909> a<01:14:09.940> billion<01:14:10.389> or<01:14:10.540> three<01:14:10.810> billion
01:14:11.040 --> 01:14:11.050 align:start position:0%
a billion or a billion or three billion
01:14:11.050 --> 01:14:15.270 align:start position:0%
a billion or a billion or three billion
dollars<01:14:11.650> a<01:14:11.679> year<01:14:12.600> what<01:14:13.600> why<01:14:14.080> how<01:14:14.440> it<01:14:14.980> makes
01:14:15.270 --> 01:14:15.280 align:start position:0%
dollars a year what why how it makes
01:14:15.280 --> 01:14:16.890 align:start position:0%
dollars a year what why how it makes
sense<01:14:15.520> that<01:14:15.670> that<01:14:15.880> person<01:14:16.330> should<01:14:16.360> pay<01:14:16.690> only
01:14:16.890 --> 01:14:16.900 align:start position:0%
sense that that person should pay only
01:14:16.900 --> 01:14:20.700 align:start position:0%
sense that that person should pay only
fifteen<01:14:17.530> percent<01:14:18.010> tax<01:14:18.489> on<01:14:18.909> that<01:14:19.600> money<01:14:19.900> and<01:14:20.020> a
01:14:20.700 --> 01:14:20.710 align:start position:0%
fifteen percent tax on that money and a
01:14:20.710 --> 01:14:24.209 align:start position:0%
fifteen percent tax on that money and a
couple<01:14:21.310> of<01:14:21.580> teachers<01:14:22.360> who<01:14:22.949> work<01:14:23.949> hard
01:14:24.209 --> 01:14:24.219 align:start position:0%
couple of teachers who work hard
01:14:24.219 --> 01:14:26.010 align:start position:0%
couple of teachers who work hard
together<01:14:24.460> are<01:14:24.850> in<01:14:25.300> the<01:14:25.389> thirty-five<01:14:25.840> percent
01:14:26.010 --> 01:14:26.020 align:start position:0%
together are in the thirty-five percent
01:14:26.020 --> 01:14:30.080 align:start position:0%
together are in the thirty-five percent
tax<01:14:26.770> rate<01:14:27.100> so<01:14:27.429> you<01:14:28.179> know<01:14:28.300> I<01:14:28.330> think<01:14:28.540> I<01:14:29.170> think
01:14:30.080 --> 01:14:30.090 align:start position:0%
tax rate so you know I think I think
01:14:30.090 --> 01:14:32.879 align:start position:0%
tax rate so you know I think I think
good<01:14:31.090> yeah<01:14:31.570> the<01:14:32.230> other<01:14:32.530> thing<01:14:32.679> I<01:14:32.739> would<01:14:32.800> say
01:14:32.879 --> 01:14:32.889 align:start position:0%
good yeah the other thing I would say
01:14:32.889 --> 01:14:35.729 align:start position:0%
good yeah the other thing I would say
about<01:14:33.070> this<01:14:33.580> question<01:14:34.000> of<01:14:34.060> risk<01:14:34.270> capital<01:14:34.739> is
01:14:35.729 --> 01:14:35.739 align:start position:0%
about this question of risk capital is
01:14:35.739 --> 01:14:37.470 align:start position:0%
about this question of risk capital is
it's<01:14:35.980> a<01:14:36.070> great<01:14:36.340> reminder<01:14:36.699> of<01:14:37.120> one<01:14:37.300> of<01:14:37.389> these
01:14:37.470 --> 01:14:37.480 align:start position:0%
it's a great reminder of one of these
01:14:37.480 --> 01:14:39.990 align:start position:0%
it's a great reminder of one of these
first<01:14:37.750> principle<01:14:38.139> questions<01:14:38.560> of<01:14:38.909> and<01:14:39.909> the
01:14:39.990 --> 01:14:40.000 align:start position:0%
first principle questions of and the
01:14:40.000 --> 01:14:41.550 align:start position:0%
first principle questions of and the
question<01:14:40.270> here<01:14:40.420> is<01:14:40.480> what's<01:14:40.810> Wall<01:14:41.020> Street<01:14:41.320> for
01:14:41.550 --> 01:14:41.560 align:start position:0%
question here is what's Wall Street for
01:14:41.560 --> 01:14:44.580 align:start position:0%
question here is what's Wall Street for
it<01:14:41.820> right<01:14:42.820> so<01:14:43.360> part<01:14:43.630> of<01:14:43.690> the<01:14:43.810> idea<01:14:43.929> of<01:14:44.170> why<01:14:44.530> you
01:14:44.580 --> 01:14:44.590 align:start position:0%
it right so part of the idea of why you
01:14:44.590 --> 01:14:47.669 align:start position:0%
it right so part of the idea of why you
have<01:14:44.949> Wall<01:14:45.280> Street<01:14:45.719> is<01:14:46.719> so<01:14:47.230> that<01:14:47.409> you<01:14:47.500> can<01:14:47.650> have
01:14:47.669 --> 01:14:47.679 align:start position:0%
have Wall Street is so that you can have
01:14:47.679 --> 01:14:49.680 align:start position:0%
have Wall Street is so that you can have
efficient<01:14:48.159> capital<01:14:48.310> formation<01:14:48.699> so<01:14:49.540> that
01:14:49.680 --> 01:14:49.690 align:start position:0%
efficient capital formation so that
01:14:49.690 --> 01:14:51.629 align:start position:0%
efficient capital formation so that
enterprises<01:14:50.320> can<01:14:50.500> thrive<01:14:50.800> and<01:14:51.070> so<01:14:51.190> that<01:14:51.310> risk
01:14:51.629 --> 01:14:51.639 align:start position:0%
enterprises can thrive and so that risk
01:14:51.639 --> 01:14:53.129 align:start position:0%
enterprises can thrive and so that risk
capital<01:14:51.850> can<01:14:52.150> be<01:14:52.239> deployed<01:14:52.449> for<01:14:52.810> ventures
01:14:53.129 --> 01:14:53.139 align:start position:0%
capital can be deployed for ventures
01:14:53.139 --> 01:14:55.080 align:start position:0%
capital can be deployed for ventures
that<01:14:53.170> might<01:14:54.130> not<01:14:54.250> otherwise<01:14:54.310> get<01:14:54.820> off<01:14:54.940> the
01:14:55.080 --> 01:14:55.090 align:start position:0%
that might not otherwise get off the
01:14:55.090 --> 01:14:56.640 align:start position:0%
that might not otherwise get off the
ground<01:14:55.239> right<01:14:55.449> that<01:14:55.870> is<01:14:55.989> that<01:14:56.320> is<01:14:56.440> a<01:14:56.469> great
01:14:56.640 --> 01:14:56.650 align:start position:0%
ground right that is that is a great
01:14:56.650 --> 01:14:59.040 align:start position:0%
ground right that is that is a great
theory<01:14:56.980> of<01:14:57.159> what<01:14:57.310> Wall<01:14:57.550> Street<01:14:57.820> is<01:14:57.969> for<01:14:58.210> and
01:14:59.040 --> 01:14:59.050 align:start position:0%
theory of what Wall Street is for and
01:14:59.050 --> 01:15:01.020 align:start position:0%
theory of what Wall Street is for and
yet<01:14:59.290> we<01:14:59.560> are<01:14:59.710> brought<01:15:00.100> to<01:15:00.370> the<01:15:00.489> crisis<01:15:00.880> that
01:15:01.020 --> 01:15:01.030 align:start position:0%
yet we are brought to the crisis that
01:15:01.030 --> 01:15:02.729 align:start position:0%
yet we are brought to the crisis that
we're<01:15:01.210> in<01:15:01.389> this<01:15:01.690> long<01:15:02.110> dragging<01:15:02.650> out
01:15:02.729 --> 01:15:02.739 align:start position:0%
we're in this long dragging out
01:15:02.739 --> 01:15:05.580 align:start position:0%
we're in this long dragging out
recession<01:15:03.389> precisely<01:15:04.389> because<01:15:04.719> Wall<01:15:05.260> Street
01:15:05.580 --> 01:15:05.590 align:start position:0%
recession precisely because Wall Street
01:15:05.590 --> 01:15:08.459 align:start position:0%
recession precisely because Wall Street
became<01:15:06.070> something<01:15:06.429> else<01:15:06.699> right<01:15:07.690> when<01:15:08.380> you
01:15:08.459 --> 01:15:08.469 align:start position:0%
became something else right when you
01:15:08.469 --> 01:15:10.439 align:start position:0%
became something else right when you
talk<01:15:08.679> about<01:15:08.710> the<01:15:09.130> securitization<01:15:09.520> of<01:15:10.179> the
01:15:10.439 --> 01:15:10.449 align:start position:0%
talk about the securitization of the
01:15:10.449 --> 01:15:12.570 align:start position:0%
talk about the securitization of the
securitization<01:15:10.780> of<01:15:11.290> mortgages<01:15:11.350> and<01:15:12.280> you<01:15:12.340> talk
01:15:12.570 --> 01:15:12.580 align:start position:0%
securitization of mortgages and you talk
01:15:12.580 --> 01:15:14.490 align:start position:0%
securitization of mortgages and you talk
about<01:15:12.610> kind<01:15:13.389> of<01:15:13.420> trading<01:15:13.840> credit<01:15:14.199> default
01:15:14.490 --> 01:15:14.500 align:start position:0%
about kind of trading credit default
01:15:14.500 --> 01:15:16.140 align:start position:0%
about kind of trading credit default
swaps<01:15:14.830> against<01:15:15.489> those<01:15:15.610> securitized
01:15:16.140 --> 01:15:16.150 align:start position:0%
swaps against those securitized
01:15:16.150 --> 01:15:18.240 align:start position:0%
swaps against those securitized
mortgages<01:15:16.719> you're<01:15:17.230> talking<01:15:17.620> about<01:15:17.800> this<01:15:18.040> in
01:15:18.240 --> 01:15:18.250 align:start position:0%
mortgages you're talking about this in
01:15:18.250 --> 01:15:20.340 align:start position:0%
mortgages you're talking about this in
to<01:15:19.030> say<01:15:19.150> nothing<01:15:19.449> of<01:15:19.540> when<01:15:19.690> you<01:15:19.780> talk<01:15:19.929> about<01:15:19.960> an
01:15:20.340 --> 01:15:20.350 align:start position:0%
to say nothing of when you talk about an
01:15:20.350 --> 01:15:22.350 align:start position:0%
to say nothing of when you talk about an
arena<01:15:20.650> as<01:15:20.830> you<01:15:20.949> have<01:15:21.100> today<01:15:21.280> where<01:15:21.639> the<01:15:22.030> great
01:15:22.350 --> 01:15:22.360 align:start position:0%
arena as you have today where the great
01:15:22.360 --> 01:15:24.570 align:start position:0%
arena as you have today where the great
proportion<01:15:22.929> of<01:15:22.989> trades<01:15:23.320> executed<01:15:23.650> on<01:15:24.159> any
01:15:24.570 --> 01:15:24.580 align:start position:0%
proportion of trades executed on any
01:15:24.580 --> 01:15:26.700 align:start position:0%
proportion of trades executed on any
given<01:15:24.730> day<01:15:24.909> on<01:15:25.179> Wall<01:15:25.360> Street<01:15:25.420> are<01:15:25.840> executed<01:15:26.530> by
01:15:26.700 --> 01:15:26.710 align:start position:0%
given day on Wall Street are executed by
01:15:26.710 --> 01:15:29.399 align:start position:0%
given day on Wall Street are executed by
machine<01:15:27.159> and<01:15:27.600> all<01:15:28.600> they're<01:15:28.810> doing<01:15:28.840> is<01:15:29.170> trying
01:15:29.399 --> 01:15:29.409 align:start position:0%
machine and all they're doing is trying
01:15:29.409 --> 01:15:31.500 align:start position:0%
machine and all they're doing is trying
to<01:15:29.500> find<01:15:29.739> milliseconds<01:15:30.610> of<01:15:30.670> arbitrage<01:15:31.179> in
01:15:31.500 --> 01:15:31.510 align:start position:0%
to find milliseconds of arbitrage in
01:15:31.510 --> 01:15:33.330 align:start position:0%
to find milliseconds of arbitrage in
tiny<01:15:31.840> little<01:15:32.020> moments<01:15:32.620> fluctuations<01:15:33.250> of
01:15:33.330 --> 01:15:33.340 align:start position:0%
tiny little moments fluctuations of
01:15:33.340 --> 01:15:35.820 align:start position:0%
tiny little moments fluctuations of
price<01:15:33.580> right<01:15:34.420> all<01:15:34.600> we<01:15:34.929> have<01:15:35.170> right<01:15:35.409> now<01:15:35.469> when
01:15:35.820 --> 01:15:35.830 align:start position:0%
price right all we have right now when
01:15:35.830 --> 01:15:37.630 align:start position:0%
price right all we have right now when
you<01:15:35.920> have<01:15:36.070> that<01:15:36.340> kind<01:15:36.670> of<01:15:36.850> capital
01:15:37.630 --> 01:15:37.640 align:start position:0%
you have that kind of capital
01:15:37.640 --> 01:15:40.270 align:start position:0%
you have that kind of capital
Wall<01:15:37.940> Street<01:15:38.240> is<01:15:38.500> really<01:15:39.500> really<01:15:39.860> high-tech
01:15:40.270 --> 01:15:40.280 align:start position:0%
Wall Street is really really high-tech
01:15:40.280 --> 01:15:42.880 align:start position:0%
Wall Street is really really high-tech
really<01:15:41.240> really<01:15:41.600> well<01:15:41.810> done<01:15:42.080> casino
01:15:42.880 --> 01:15:42.890 align:start position:0%
really really well done casino
01:15:42.890 --> 01:15:46.270 align:start position:0%
really really well done casino
capitalism<01:15:43.370> right<01:15:44.330> and<01:15:44.680> if<01:15:45.680> you<01:15:45.800> add<01:15:46.010> to<01:15:46.250> that
01:15:46.270 --> 01:15:46.280 align:start position:0%
capitalism right and if you add to that
01:15:46.280 --> 01:15:48.570 align:start position:0%
capitalism right and if you add to that
a<01:15:46.430> dose<01:15:46.670> of<01:15:46.820> crony<01:15:47.060> capitalism<01:15:47.570> as<01:15:47.900> you<01:15:48.230> have
01:15:48.570 --> 01:15:48.580 align:start position:0%
a dose of crony capitalism as you have
01:15:48.580 --> 01:15:50.800 align:start position:0%
a dose of crony capitalism as you have
you<01:15:49.580> certainly<01:15:49.940> get<01:15:50.150> that<01:15:50.450> much<01:15:50.630> further
01:15:50.800 --> 01:15:50.810 align:start position:0%
you certainly get that much further
01:15:50.810 --> 01:15:52.480 align:start position:0%
you certainly get that much further
afield<01:15:51.050> from<01:15:51.440> the<01:15:51.590> original<01:15:51.950> purpose<01:15:52.160> which
01:15:52.480 --> 01:15:52.490 align:start position:0%
afield from the original purpose which
01:15:52.490 --> 01:15:55.000 align:start position:0%
afield from the original purpose which
was<01:15:52.730> hey<01:15:53.330> how<01:15:53.570> can<01:15:53.630> we<01:15:53.870> make<01:15:54.050> you<01:15:54.470> know<01:15:54.590> part<01:15:54.950> of
01:15:55.000 --> 01:15:55.010 align:start position:0%
was hey how can we make you know part of
01:15:55.010 --> 01:15:56.950 align:start position:0%
was hey how can we make you know part of
the<01:15:55.100> goal<01:15:55.220> i<01:15:55.280> think<01:15:55.730> here<01:15:55.940> of<01:15:55.970> the<01:15:56.630> all<01:15:56.750> things
01:15:56.950 --> 01:15:56.960 align:start position:0%
the goal i think here of the all things
01:15:56.960 --> 01:15:58.720 align:start position:0%
the goal i think here of the all things
in<01:15:57.050> moderation<01:15:57.080> is<01:15:57.680> to<01:15:57.830> make<01:15:57.950> banking<01:15:58.340> boring
01:15:58.720 --> 01:15:58.730 align:start position:0%
in moderation is to make banking boring
01:15:58.730 --> 01:16:01.810 align:start position:0%
in moderation is to make banking boring
again<01:15:59.290> right<01:16:00.290> banking<01:16:01.160> shouldn't<01:16:01.520> be<01:16:01.610> as
01:16:01.810 --> 01:16:01.820 align:start position:0%
again right banking shouldn't be as
01:16:01.820 --> 01:16:03.190 align:start position:0%
again right banking shouldn't be as
exciting<01:16:02.330> as<01:16:02.420> it<01:16:02.450> is<01:16:02.690> for<01:16:02.900> a<01:16:02.960> lot<01:16:03.080> of<01:16:03.140> these
01:16:03.190 --> 01:16:03.200 align:start position:0%
exciting as it is for a lot of these
01:16:03.200 --> 01:16:07.090 align:start position:0%
exciting as it is for a lot of these
hedge<01:16:03.380> fund<01:16:03.590> guys<01:16:03.770> right<01:16:05.650> but<01:16:06.650> that's<01:16:06.830> not<01:16:06.980> to
01:16:07.090 --> 01:16:07.100 align:start position:0%
hedge fund guys right but that's not to
01:16:07.100 --> 01:16:08.800 align:start position:0%
hedge fund guys right but that's not to
say<01:16:07.250> that<01:16:07.370> banking<01:16:07.730> is<01:16:07.880> bad<01:16:08.090> nor<01:16:08.420> is<01:16:08.510> it<01:16:08.570> to<01:16:08.690> say
01:16:08.800 --> 01:16:08.810 align:start position:0%
say that banking is bad nor is it to say
01:16:08.810 --> 01:16:10.830 align:start position:0%
say that banking is bad nor is it to say
that<01:16:08.840> business<01:16:09.320> is<01:16:09.440> bad<01:16:09.650> right<01:16:09.980> i<01:16:10.040> mean<01:16:10.130> again
01:16:10.830 --> 01:16:10.840 align:start position:0%
that business is bad right i mean again
01:16:10.840 --> 01:16:13.120 align:start position:0%
that business is bad right i mean again
you<01:16:11.840> don't<01:16:11.990> have<01:16:12.140> to<01:16:12.380> be<01:16:12.470> super<01:16:12.680> rich<01:16:12.920> to
01:16:13.120 --> 01:16:13.130 align:start position:0%
you don't have to be super rich to
01:16:13.130 --> 01:16:15.040 align:start position:0%
you don't have to be super rich to
believe<01:16:13.430> that<01:16:13.760> capitalism<01:16:14.360> is<01:16:14.570> important
01:16:15.040 --> 01:16:15.050 align:start position:0%
believe that capitalism is important
01:16:15.050 --> 01:16:17.710 align:start position:0%
believe that capitalism is important
right<01:16:15.350> capitalism<01:16:16.070> is<01:16:16.220> is<01:16:17.090> important<01:16:17.540> as<01:16:17.660> an
01:16:17.710 --> 01:16:17.720 align:start position:0%
right capitalism is is important as an
01:16:17.720 --> 01:16:19.390 align:start position:0%
right capitalism is is important as an
evolutionary<01:16:18.230> matter<01:16:18.440> and<01:16:18.800> it's<01:16:18.950> what<01:16:19.100> brings
01:16:19.390 --> 01:16:19.400 align:start position:0%
evolutionary matter and it's what brings
01:16:19.400 --> 01:16:22.120 align:start position:0%
evolutionary matter and it's what brings
us<01:16:19.550> here<01:16:19.610> today<01:16:19.820> but<01:16:20.690> i<01:16:20.720> think<01:16:21.020> the<01:16:21.650> idea<01:16:22.010> that
01:16:22.120 --> 01:16:22.130 align:start position:0%
us here today but i think the idea that
01:16:22.130 --> 01:16:27.250 align:start position:0%
us here today but i think the idea that
you<01:16:22.430> should<01:16:23.140> that<01:16:24.140> any<01:16:24.470> curb<01:16:25.220> on<01:16:25.690> banks<01:16:26.690> casino
01:16:27.250 --> 01:16:27.260 align:start position:0%
you should that any curb on banks casino
01:16:27.260 --> 01:16:30.130 align:start position:0%
you should that any curb on banks casino
behavior<01:16:27.770> is<01:16:27.950> somehow<01:16:28.460> some<01:16:29.450> squirrel
01:16:30.130 --> 01:16:30.140 align:start position:0%
behavior is somehow some squirrel
01:16:30.140 --> 01:16:31.870 align:start position:0%
behavior is somehow some squirrel
chewing<01:16:30.350> of<01:16:30.500> entrepreneurial<01:16:31.100> animal
01:16:31.870 --> 01:16:31.880 align:start position:0%
chewing of entrepreneurial animal
01:16:31.880 --> 01:16:35.580 align:start position:0%
chewing of entrepreneurial animal
spirits<01:16:32.300> some<01:16:32.510> squelchy<01:16:33.520> this<01:16:34.520> ability<01:16:34.760> for
01:16:35.580 --> 01:16:35.590 align:start position:0%
spirits some squelchy this ability for
01:16:35.590 --> 01:16:38.110 align:start position:0%
spirits some squelchy this ability for
venture<01:16:36.590> capitalist<01:16:37.040> employee<01:16:37.370> capital<01:16:37.970> and
01:16:38.110 --> 01:16:38.120 align:start position:0%
venture capitalist employee capital and
01:16:38.120 --> 01:16:40.240 align:start position:0%
venture capitalist employee capital and
for<01:16:38.240> entrepreneurs<01:16:38.780> to<01:16:38.900> dream<01:16:39.620> up<01:16:39.740> big<01:16:39.920> dreams
01:16:40.240 --> 01:16:40.250 align:start position:0%
for entrepreneurs to dream up big dreams
01:16:40.250 --> 01:16:42.250 align:start position:0%
for entrepreneurs to dream up big dreams
i<01:16:40.490> think<01:16:41.090> is<01:16:41.180> misplaced<01:16:41.510> i<01:16:41.810> think<01:16:41.990> we<01:16:42.110> have<01:16:42.200> a
01:16:42.250 --> 01:16:42.260 align:start position:0%
i think is misplaced i think we have a
01:16:42.260 --> 01:16:44.590 align:start position:0%
i think is misplaced i think we have a
lot<01:16:42.290> more<01:16:42.710> work<01:16:43.040> in<01:16:43.220> the<01:16:43.310> first<01:16:43.520> place<01:16:43.700> just<01:16:44.450> to
01:16:44.590 --> 01:16:44.600 align:start position:0%
lot more work in the first place just to
01:16:44.600 --> 01:16:47.620 align:start position:0%
lot more work in the first place just to
make<01:16:44.630> Wall<01:16:45.020> Street<01:16:45.350> do<01:16:45.650> well<01:16:46.040> what<01:16:46.940> it<01:16:47.060> was
01:16:47.620 --> 01:16:47.630 align:start position:0%
make Wall Street do well what it was
01:16:47.630 --> 01:16:49.930 align:start position:0%
make Wall Street do well what it was
intended<01:16:47.780> to<01:16:48.110> do<01:16:48.380> for<01:16:49.220> the<01:16:49.370> economy<01:16:49.460> and<01:16:49.790> for
01:16:49.930 --> 01:16:49.940 align:start position:0%
intended to do for the economy and for
01:16:49.940 --> 01:17:02.470 align:start position:0%
intended to do for the economy and for
the<01:16:50.000> country<01:16:51.010> yes<01:16:52.010> sir<01:17:00.820> one<01:17:01.820> comment<01:17:02.210> on<01:17:02.270> that
01:17:02.470 --> 01:17:02.480 align:start position:0%
the country yes sir one comment on that
01:17:02.480 --> 01:17:04.090 align:start position:0%
the country yes sir one comment on that
one<01:17:02.510> percent<01:17:03.140> is<01:17:03.290> that<01:17:03.440> right<01:17:03.590> now<01:17:03.770> we<01:17:03.830> have
01:17:04.090 --> 01:17:04.100 align:start position:0%
one percent is that right now we have
01:17:04.100 --> 01:17:05.980 align:start position:0%
one percent is that right now we have
one<01:17:04.130> percent<01:17:04.730> that<01:17:04.790> whose<01:17:05.120> risk<01:17:05.420> perceptions
01:17:05.980 --> 01:17:05.990 align:start position:0%
one percent that whose risk perceptions
01:17:05.990 --> 01:17:07.480 align:start position:0%
one percent that whose risk perceptions
are<01:17:06.110> driving<01:17:06.440> investment<01:17:06.920> right<01:17:07.010> now<01:17:07.190> instead
01:17:07.480 --> 01:17:07.490 align:start position:0%
are driving investment right now instead
01:17:07.490 --> 01:17:10.240 align:start position:0%
are driving investment right now instead
of<01:17:07.550> a<01:17:07.640> larger<01:17:07.970> percent<01:17:08.420> and<01:17:08.660> so<01:17:09.560> I<01:17:09.890> don't<01:17:10.130> know
01:17:10.240 --> 01:17:10.250 align:start position:0%
of a larger percent and so I don't know
01:17:10.250 --> 01:17:13.120 align:start position:0%
of a larger percent and so I don't know
if<01:17:10.430> the<01:17:11.030> one<01:17:11.210> percent<01:17:11.570> risk<01:17:12.530> perceptions<01:17:13.010> are
01:17:13.120 --> 01:17:13.130 align:start position:0%
if the one percent risk perceptions are
01:17:13.130 --> 01:17:15.700 align:start position:0%
if the one percent risk perceptions are
any<01:17:13.250> more<01:17:13.340> rational<01:17:13.850> and<01:17:13.970> some<01:17:14.150> sort<01:17:14.420> of<01:17:14.710> left
01:17:15.700 --> 01:17:15.710 align:start position:0%
any more rational and some sort of left
01:17:15.710 --> 01:17:17.710 align:start position:0%
any more rational and some sort of left
brain<01:17:15.920> right<01:17:15.950> brain<01:17:16.160> sense<01:17:17.030> than<01:17:17.240> ours<01:17:17.450> are
01:17:17.710 --> 01:17:17.720 align:start position:0%
brain right brain sense than ours are
01:17:17.720 --> 01:17:19.090 align:start position:0%
brain right brain sense than ours are
but<01:17:17.840> we<01:17:17.930> know<01:17:18.080> that<01:17:18.260> it's<01:17:18.350> a<01:17:18.410> narrow<01:17:18.620> sector<01:17:19.040> of
01:17:19.090 --> 01:17:19.100 align:start position:0%
but we know that it's a narrow sector of
01:17:19.100 --> 01:17:21.490 align:start position:0%
but we know that it's a narrow sector of
the<01:17:19.160> economy<01:17:19.220> and<01:17:19.820> so<01:17:20.390> that<01:17:20.720> being<01:17:20.990> a<01:17:21.080> segue<01:17:21.440> to
01:17:21.490 --> 01:17:21.500 align:start position:0%
the economy and so that being a segue to
01:17:21.500 --> 01:17:25.300 align:start position:0%
the economy and so that being a segue to
my<01:17:22.070> question<01:17:22.880> I'm<01:17:23.620> asking<01:17:24.620> you<01:17:24.680> if<01:17:24.800> I'm<01:17:24.980> being
01:17:25.300 --> 01:17:25.310 align:start position:0%
my question I'm asking you if I'm being
01:17:25.310 --> 01:17:29.110 align:start position:0%
my question I'm asking you if I'm being
rational<01:17:25.850> or<01:17:26.290> an<01:17:27.580> enormous<01:17:28.580> risk<01:17:28.760> I'm<01:17:29.060> taking
01:17:29.110 --> 01:17:29.120 align:start position:0%
rational or an enormous risk I'm taking
01:17:29.120 --> 01:17:32.350 align:start position:0%
rational or an enormous risk I'm taking
so<01:17:30.110> I'm<01:17:30.230> in<01:17:30.440> the<01:17:30.740> 99<01:17:31.130> percent<01:17:31.550> and<01:17:31.760> I've
01:17:32.350 --> 01:17:32.360 align:start position:0%
so I'm in the 99 percent and I've
01:17:32.360 --> 01:17:34.300 align:start position:0%
so I'm in the 99 percent and I've
decided<01:17:32.690> to<01:17:32.870> spend<01:17:33.080> this<01:17:33.230> year<01:17:33.290> investing<01:17:34.100> all
01:17:34.300 --> 01:17:34.310 align:start position:0%
decided to spend this year investing all
01:17:34.310 --> 01:17:35.650 align:start position:0%
decided to spend this year investing all
the<01:17:34.790> money<01:17:34.940> I<01:17:35.000> was<01:17:35.150> going<01:17:35.270> to<01:17:35.330> spend<01:17:35.480> on<01:17:35.600> a
01:17:35.650 --> 01:17:35.660 align:start position:0%
the money I was going to spend on a
01:17:35.660 --> 01:17:37.390 align:start position:0%
the money I was going to spend on a
house<01:17:35.810> and<01:17:36.110> I'm<01:17:36.500> getting<01:17:36.770> really<01:17:36.920> down<01:17:37.130> there
01:17:37.390 --> 01:17:37.400 align:start position:0%
house and I'm getting really down there
01:17:37.400 --> 01:17:41.050 align:start position:0%
house and I'm getting really down there
on<01:17:37.580> a<01:17:38.110> project<01:17:39.110> that<01:17:39.200> is<01:17:39.440> that<01:17:39.980> I<01:17:40.220> want<01:17:40.850> to<01:17:40.910> try
01:17:41.050 --> 01:17:41.060 align:start position:0%
on a project that is that I want to try
01:17:41.060 --> 01:17:44.290 align:start position:0%
on a project that is that I want to try
to<01:17:41.120> change<01:17:41.420> the<01:17:41.630> brains<01:17:41.870> of<01:17:42.520> young<01:17:43.520> adults<01:17:43.640> to
01:17:44.290 --> 01:17:44.300 align:start position:0%
to change the brains of young adults to
01:17:44.300 --> 01:17:46.240 align:start position:0%
to change the brains of young adults to
try<01:17:44.510> to<01:17:44.570> pursue<01:17:45.110> ideas<01:17:45.710> about<01:17:45.920> civic
01:17:46.240 --> 01:17:46.250 align:start position:0%
try to pursue ideas about civic
01:17:46.250 --> 01:17:47.620 align:start position:0%
try to pursue ideas about civic
engagement<01:17:46.370> very<01:17:46.910> aligned<01:17:47.210> with<01:17:47.360> what<01:17:47.510> you're
01:17:47.620 --> 01:17:47.630 align:start position:0%
engagement very aligned with what you're
01:17:47.630 --> 01:17:49.840 align:start position:0%
engagement very aligned with what you're
describing<01:17:47.870> so<01:17:48.680> my<01:17:48.800> question<01:17:48.830> is<01:17:49.310> this<01:17:49.370> purely
01:17:49.840 --> 01:17:49.850 align:start position:0%
describing so my question is this purely
01:17:49.850 --> 01:17:50.979 align:start position:0%
describing so my question is this purely
quixotic
01:17:50.979 --> 01:17:50.989 align:start position:0%
quixotic
01:17:50.989 --> 01:17:53.680 align:start position:0%
quixotic
so<01:17:51.320> let's<01:17:51.619> start<01:17:51.949> from<01:17:52.309> let<01:17:53.210> me<01:17:53.300> just<01:17:53.420> ask<01:17:53.539> you
01:17:53.680 --> 01:17:53.690 align:start position:0%
so let's start from let me just ask you
01:17:53.690 --> 01:17:55.899 align:start position:0%
so let's start from let me just ask you
if<01:17:53.840> you<01:17:53.989> we<01:17:54.230> share<01:17:54.530> i<01:17:54.559> think<01:17:55.249> i<01:17:55.400> know<01:17:55.519> we<01:17:55.760> share
01:17:55.899 --> 01:17:55.909 align:start position:0%
if you we share i think i know we share
01:17:55.909 --> 01:17:58.270 align:start position:0%
if you we share i think i know we share
a<01:17:55.969> lot<01:17:56.150> have<01:17:56.840> you<01:17:56.960> read<01:17:57.170> master<01:17:58.130> in<01:17:58.190> the
01:17:58.270 --> 01:17:58.280 align:start position:0%
a lot have you read master in the
01:17:58.280 --> 01:18:01.899 align:start position:0%
a lot have you read master in the
emissary<01:17:58.670> Ian<01:17:59.179> McGill<01:17:59.420> crest<01:17:59.739> okay<01:18:00.739> must<01:18:01.249> so
01:18:01.899 --> 01:18:01.909 align:start position:0%
emissary Ian McGill crest okay must so
01:18:01.909 --> 01:18:04.239 align:start position:0%
emissary Ian McGill crest okay must so
he<01:18:02.119> makes<01:18:02.389> the<01:18:02.539> argument<01:18:02.980> I'll<01:18:03.980> give<01:18:04.130> you<01:18:04.219> a
01:18:04.239 --> 01:18:04.249 align:start position:0%
he makes the argument I'll give you a
01:18:04.249 --> 01:18:06.279 align:start position:0%
he makes the argument I'll give you a
card<01:18:04.550> with<01:18:04.699> it<01:18:04.849> he<01:18:05.300> makes<01:18:05.510> a<01:18:05.630> most<01:18:06.079> amazing
01:18:06.279 --> 01:18:06.289 align:start position:0%
card with it he makes a most amazing
01:18:06.289 --> 01:18:07.930 align:start position:0%
card with it he makes a most amazing
book<01:18:06.530> I've<01:18:06.650> read<01:18:06.769> in<01:18:06.920> a<01:18:06.980> long<01:18:07.070> time<01:18:07.280> it's<01:18:07.519> thick
01:18:07.930 --> 01:18:07.940 align:start position:0%
book I've read in a long time it's thick
01:18:07.940 --> 01:18:10.959 align:start position:0%
book I've read in a long time it's thick
the<01:18:08.360> idea<01:18:08.690> is<01:18:08.749> he<01:18:09.409> makes<01:18:09.619> the<01:18:09.739> argument<01:18:09.969> very
01:18:10.959 --> 01:18:10.969 align:start position:0%
the idea is he makes the argument very
01:18:10.969 --> 01:18:12.669 align:start position:0%
the idea is he makes the argument very
much<01:18:11.210> Calanthe<01:18:11.630> years<01:18:11.869> that<01:18:12.110> over<01:18:12.409> the<01:18:12.530> course
01:18:12.669 --> 01:18:12.679 align:start position:0%
much Calanthe years that over the course
01:18:12.679 --> 01:18:15.609 align:start position:0%
much Calanthe years that over the course
the<01:18:12.800> last<01:18:13.070> 300<01:18:13.400> years<01:18:13.610> or<01:18:13.880> so<01:18:14.199> social<01:18:15.199> changes
01:18:15.609 --> 01:18:15.619 align:start position:0%
the last 300 years or so social changes
01:18:15.619 --> 01:18:17.890 align:start position:0%
the last 300 years or so social changes
produced<01:18:15.920> a<01:18:16.460> change<01:18:17.150> in<01:18:17.389> the<01:18:17.449> structure<01:18:17.749> of
01:18:17.890 --> 01:18:17.900 align:start position:0%
produced a change in the structure of
01:18:17.900 --> 01:18:20.890 align:start position:0%
produced a change in the structure of
our<01:18:18.019> brains<01:18:18.079> right<01:18:18.710> it's<01:18:19.190> producing<01:18:20.030> the<01:18:20.510> pigs
01:18:20.890 --> 01:18:20.900 align:start position:0%
our brains right it's producing the pigs
01:18:20.900 --> 01:18:23.049 align:start position:0%
our brains right it's producing the pigs
that<01:18:21.170> we<01:18:21.289> are<01:18:21.409> now<01:18:21.559> living<01:18:21.739> with<01:18:21.889> right<01:18:22.159> now<01:18:22.309> so
01:18:23.049 --> 01:18:23.059 align:start position:0%
that we are now living with right now so
01:18:23.059 --> 01:18:24.759 align:start position:0%
that we are now living with right now so
we're<01:18:23.300> dealing<01:18:23.809> with<01:18:23.840> a<01:18:24.199> multiple
01:18:24.759 --> 01:18:24.769 align:start position:0%
we're dealing with a multiple
01:18:24.769 --> 01:18:27.549 align:start position:0%
we're dealing with a multiple
generational<01:18:25.730> legacy<01:18:26.210> that<01:18:26.809> is<01:18:26.989> culture<01:18:27.440> on
01:18:27.549 --> 01:18:27.559 align:start position:0%
generational legacy that is culture on
01:18:27.559 --> 01:18:28.779 align:start position:0%
generational legacy that is culture on
your<01:18:27.619> definition<01:18:27.860> but<01:18:28.280> we<01:18:28.400> have<01:18:28.519> to<01:18:28.639> also
01:18:28.779 --> 01:18:28.789 align:start position:0%
your definition but we have to also
01:18:28.789 --> 01:18:30.850 align:start position:0%
your definition but we have to also
understand<01:18:29.300> that<01:18:29.420> has<01:18:29.840> manifested<01:18:30.320> in<01:18:30.800> the
01:18:30.850 --> 01:18:30.860 align:start position:0%
understand that has manifested in the
01:18:30.860 --> 01:18:33.459 align:start position:0%
understand that has manifested in the
very<01:18:31.099> structures<01:18:31.579> of<01:18:31.639> our<01:18:31.789> brains<01:18:32.030> ok<01:18:32.869> so<01:18:33.349> we
01:18:33.459 --> 01:18:33.469 align:start position:0%
very structures of our brains ok so we
01:18:33.469 --> 01:18:35.229 align:start position:0%
very structures of our brains ok so we
accept<01:18:33.829> that<01:18:33.889> I<01:18:33.980> see<01:18:34.280> you<01:18:34.400> have<01:18:34.579> the<01:18:34.699> brain
01:18:35.229 --> 01:18:35.239 align:start position:0%
accept that I see you have the brain
01:18:35.239 --> 01:18:38.200 align:start position:0%
accept that I see you have the brain
background<01:18:36.199> for<01:18:36.349> this<01:18:36.469> so<01:18:37.039> if<01:18:37.670> you<01:18:37.880> take<01:18:38.059> the
01:18:38.200 --> 01:18:38.210 align:start position:0%
background for this so if you take the
01:18:38.210 --> 01:18:39.850 align:start position:0%
background for this so if you take the
developmental<01:18:38.749> psychology<01:18:39.260> stuff<01:18:39.469> right<01:18:39.679> we
01:18:39.850 --> 01:18:39.860 align:start position:0%
developmental psychology stuff right we
01:18:39.860 --> 01:18:43.120 align:start position:0%
developmental psychology stuff right we
know<01:18:40.070> that<01:18:40.940> my<01:18:41.239> brain<01:18:41.539> is<01:18:41.599> not<01:18:41.989> very<01:18:42.289> likely<01:18:42.920> to
01:18:43.120 --> 01:18:43.130 align:start position:0%
know that my brain is not very likely to
01:18:43.130 --> 01:18:47.080 align:start position:0%
know that my brain is not very likely to
change<01:18:43.429> much<01:18:44.179> yours<01:18:44.809> not<01:18:45.139> yours<01:18:45.499> not<01:18:46.010> you<01:18:46.999> know
01:18:47.080 --> 01:18:47.090 align:start position:0%
change much yours not yours not you know
01:18:47.090 --> 01:18:48.759 align:start position:0%
change much yours not yours not you know
I<01:18:47.150> saw<01:18:47.360> Ian<01:18:47.659> one<01:18:47.840> of<01:18:47.929> my<01:18:47.989> students<01:18:48.409> back<01:18:48.530> there
01:18:48.759 --> 01:18:48.769 align:start position:0%
I saw Ian one of my students back there
01:18:48.769 --> 01:18:50.680 align:start position:0%
I saw Ian one of my students back there
somewhere<01:18:49.039> he<01:18:49.280> is<01:18:49.340> in<01:18:49.460> his<01:18:49.489> 20s<01:18:49.909> his<01:18:50.300> brain<01:18:50.659> is
01:18:50.680 --> 01:18:50.690 align:start position:0%
somewhere he is in his 20s his brain is
01:18:50.690 --> 01:18:55.089 align:start position:0%
somewhere he is in his 20s his brain is
still<01:18:51.050> pretty<01:18:51.199> malleable<01:18:52.329> he's<01:18:53.329> so<01:18:53.929> he<01:18:54.499> he<01:18:54.980> is
01:18:55.089 --> 01:18:55.099 align:start position:0%
still pretty malleable he's so he he is
01:18:55.099 --> 01:18:57.100 align:start position:0%
still pretty malleable he's so he he is
the<01:18:55.249> one<01:18:55.429> that<01:18:55.579> we<01:18:55.639> have<01:18:55.940> to<01:18:56.090> risk<01:18:56.300> our<01:18:56.539> capital
01:18:57.100 --> 01:18:57.110 align:start position:0%
the one that we have to risk our capital
01:18:57.110 --> 01:19:00.879 align:start position:0%
the one that we have to risk our capital
on<01:18:57.260> is<01:18:57.829> to<01:18:58.219> restructure<01:18:58.999> his<01:18:59.510> brain<01:18:59.929> between
01:19:00.879 --> 01:19:00.889 align:start position:0%
on is to restructure his brain between
01:19:00.889 --> 01:19:03.069 align:start position:0%
on is to restructure his brain between
about<01:19:01.070> 16<01:19:01.699> and<01:19:01.820> 26<01:19:02.090> is<01:19:02.480> one<01:19:02.630> we<01:19:02.780> have<01:19:02.929> that
01:19:03.069 --> 01:19:03.079 align:start position:0%
about 16 and 26 is one we have that
01:19:03.079 --> 01:19:05.169 align:start position:0%
about 16 and 26 is one we have that
opportunity<01:19:03.349> I<01:19:03.860> think<01:19:04.550> that's<01:19:04.760> the<01:19:04.849> reason
01:19:05.169 --> 01:19:05.179 align:start position:0%
opportunity I think that's the reason
01:19:05.179 --> 01:19:07.180 align:start position:0%
opportunity I think that's the reason
why<01:19:05.210> you're<01:19:05.659> on<01:19:05.869> that<01:19:06.079> education<01:19:06.650> board<01:19:06.889> so
01:19:07.180 --> 01:19:07.190 align:start position:0%
why you're on that education board so
01:19:07.190 --> 01:19:10.330 align:start position:0%
why you're on that education board so
the<01:19:07.999> question<01:19:08.449> I<01:19:08.539> have<01:19:08.719> for<01:19:08.749> you<01:19:08.960> then<01:19:09.320> is<01:19:09.590> to
01:19:10.330 --> 01:19:10.340 align:start position:0%
the question I have for you then is to
01:19:10.340 --> 01:19:12.489 align:start position:0%
the question I have for you then is to
in<01:19:11.059> a<01:19:11.210> sense<01:19:11.420> who<01:19:11.630> are<01:19:11.749> you<01:19:11.869> speaking<01:19:12.199> to<01:19:12.260> right
01:19:12.489 --> 01:19:12.499 align:start position:0%
in a sense who are you speaking to right
01:19:12.499 --> 01:19:14.890 align:start position:0%
in a sense who are you speaking to right
now<01:19:12.679> are<01:19:13.429> you<01:19:13.610> speaking<01:19:13.760> to<01:19:14.059> all<01:19:14.480> of<01:19:14.780> us<01:19:14.840> that
01:19:14.890 --> 01:19:14.900 align:start position:0%
now are you speaking to all of us that
01:19:14.900 --> 01:19:17.229 align:start position:0%
now are you speaking to all of us that
have<01:19:15.139> gray<01:19:15.349> hair<01:19:15.380> or<01:19:15.800> grading<01:19:16.070> gray<01:19:16.219> hair<01:19:16.460> not
01:19:17.229 --> 01:19:17.239 align:start position:0%
have gray hair or grading gray hair not
01:19:17.239 --> 01:19:18.790 align:start position:0%
have gray hair or grading gray hair not
likely<01:19:17.570> to<01:19:17.749> help<01:19:17.989> it's<01:19:18.170> not<01:19:18.289> holding<01:19:18.440> me
01:19:18.790 --> 01:19:18.800 align:start position:0%
likely to help it's not holding me
01:19:18.800 --> 01:19:21.220 align:start position:0%
likely to help it's not holding me
talking<01:19:19.190> to<01:19:19.249> my<01:19:19.340> dad<01:19:19.550> about<01:19:19.730> his<01:19:19.999> thing<01:19:20.300> right
01:19:21.220 --> 01:19:21.230 align:start position:0%
talking to my dad about his thing right
01:19:21.230 --> 01:19:23.109 align:start position:0%
talking to my dad about his thing right
we<01:19:21.679> disagree<01:19:21.860> he's<01:19:22.489> not<01:19:22.670> going<01:19:22.820> to<01:19:22.849> change<01:19:23.030> his
01:19:23.109 --> 01:19:23.119 align:start position:0%
we disagree he's not going to change his
01:19:23.119 --> 01:19:25.029 align:start position:0%
we disagree he's not going to change his
mind<01:19:23.360> I'm<01:19:23.630> decreasing<01:19:24.440> Lee<01:19:24.530> able<01:19:24.769> to<01:19:24.860> change
01:19:25.029 --> 01:19:25.039 align:start position:0%
mind I'm decreasing Lee able to change
01:19:25.039 --> 01:19:28.120 align:start position:0%
mind I'm decreasing Lee able to change
mine<01:19:25.340> but<01:19:26.030> he<01:19:26.269> had<01:19:26.420> another<01:19:26.719> one<01:19:27.019> like<01:19:27.769> some<01:19:28.039> of
01:19:28.120 --> 01:19:28.130 align:start position:0%
mine but he had another one like some of
01:19:28.130 --> 01:19:31.209 align:start position:0%
mine but he had another one like some of
these<01:19:28.219> guys<01:19:28.489> they<01:19:29.739> actually<01:19:30.739> have<01:19:30.949> about
01:19:31.209 --> 01:19:31.219 align:start position:0%
these guys they actually have about
01:19:31.219 --> 01:19:33.430 align:start position:0%
these guys they actually have about
twice<01:19:31.730> as<01:19:31.940> many<01:19:32.059> neural<01:19:32.539> connections<01:19:33.139> that<01:19:33.289> we
01:19:33.430 --> 01:19:33.440 align:start position:0%
twice as many neural connections that we
01:19:33.440 --> 01:19:36.790 align:start position:0%
twice as many neural connections that we
do<01:19:33.650> and<01:19:33.920> we<01:19:34.340> can<01:19:34.519> still<01:19:34.730> shape<01:19:34.969> them<01:19:35.349> so<01:19:36.349> is
01:19:36.790 --> 01:19:36.800 align:start position:0%
do and we can still shape them so is
01:19:36.800 --> 01:19:38.680 align:start position:0%
do and we can still shape them so is
that<01:19:36.980> where<01:19:37.400> we<01:19:37.489> should<01:19:37.670> invest<01:19:38.210> our<01:19:38.389> money<01:19:38.420> is
01:19:38.680 --> 01:19:38.690 align:start position:0%
that where we should invest our money is
01:19:38.690 --> 01:19:40.089 align:start position:0%
that where we should invest our money is
that<01:19:38.809> what<01:19:38.989> bill<01:19:39.230> should<01:19:39.409> be<01:19:39.530> investing<01:19:39.949> and
01:19:40.089 --> 01:19:40.099 align:start position:0%
that what bill should be investing and
01:19:40.099 --> 01:19:47.100 align:start position:0%
that what bill should be investing and
we'll<01:19:40.190> talk<01:19:40.340> to<01:19:40.519> anybody<01:19:40.699> will<01:19:40.999> listen<01:19:41.179> to<01:19:41.389> us
01:19:47.100 --> 01:19:47.110 align:start position:0%
01:19:47.110 --> 01:19:49.390 align:start position:0%
we<01:19:48.110> will<01:19:48.289> talk<01:19:48.499> to<01:19:48.650> anybody<01:19:48.800> who's<01:19:49.070> listening
01:19:49.390 --> 01:19:49.400 align:start position:0%
we will talk to anybody who's listening
01:19:49.400 --> 01:19:51.250 align:start position:0%
we will talk to anybody who's listening
to<01:19:49.460> us<01:19:49.699> but<01:19:49.880> you<01:19:50.090> know<01:19:50.210> I<01:19:50.239> guess<01:19:50.869> I'd<01:19:51.050> say<01:19:51.079> a
01:19:51.250 --> 01:19:51.260 align:start position:0%
to us but you know I guess I'd say a
01:19:51.260 --> 01:19:55.930 align:start position:0%
to us but you know I guess I'd say a
couple<01:19:51.320> things<01:19:51.559> you<01:19:51.920> know<01:19:52.039> look<01:19:52.280> we<01:19:54.550> it's<01:19:55.550> true
01:19:55.930 --> 01:19:55.940 align:start position:0%
couple things you know look we it's true
01:19:55.940 --> 01:19:59.439 align:start position:0%
couple things you know look we it's true
i<01:19:56.150> mean<01:19:56.559> the<01:19:57.559> work<01:19:57.769> that<01:19:58.070> Nick<01:19:58.760> and<01:19:58.880> I<01:19:58.999> do<01:19:59.059> in
01:19:59.439 --> 01:19:59.449 align:start position:0%
i mean the work that Nick and I do in
01:19:59.449 --> 01:20:00.939 align:start position:0%
i mean the work that Nick and I do in
other<01:19:59.570> parts<01:19:59.809> of<01:19:59.929> our<01:20:00.079> lives<01:20:00.110> around
01:20:00.939 --> 01:20:00.949 align:start position:0%
other parts of our lives around
01:20:00.949 --> 01:20:03.090 align:start position:0%
other parts of our lives around
education
01:20:03.090 --> 01:20:03.100 align:start position:0%
education
01:20:03.100 --> 01:20:04.950 align:start position:0%
education
is<01:20:03.190> fueled<01:20:03.640> by<01:20:03.670> this<01:20:03.940> very<01:20:04.180> same<01:20:04.540> insight
01:20:04.950 --> 01:20:04.960 align:start position:0%
is fueled by this very same insight
01:20:04.960 --> 01:20:09.390 align:start position:0%
is fueled by this very same insight
right<01:20:05.260> and<01:20:06.240> some<01:20:07.240> of<01:20:07.360> you<01:20:07.480> know<01:20:07.690> and<01:20:07.960> have<01:20:08.710> been
01:20:09.390 --> 01:20:09.400 align:start position:0%
right and some of you know and have been
01:20:09.400 --> 01:20:12.360 align:start position:0%
right and some of you know and have been
part<01:20:09.640> of<01:20:09.760> a<01:20:10.120> gathering<01:20:10.750> that<01:20:10.900> I<01:20:11.740> and<01:20:12.310> others
01:20:12.360 --> 01:20:12.370 align:start position:0%
part of a gathering that I and others
01:20:12.370 --> 01:20:13.560 align:start position:0%
part of a gathering that I and others
organized<01:20:12.910> called<01:20:13.090> the<01:20:13.150> guiding<01:20:13.390> lights
01:20:13.560 --> 01:20:13.570 align:start position:0%
organized called the guiding lights
01:20:13.570 --> 01:20:15.750 align:start position:0%
organized called the guiding lights
weekend<01:20:13.990> a<01:20:14.110> big<01:20:14.500> national<01:20:14.770> conference<01:20:15.430> on<01:20:15.550> the
01:20:15.750 --> 01:20:15.760 align:start position:0%
weekend a big national conference on the
01:20:15.760 --> 01:20:18.360 align:start position:0%
weekend a big national conference on the
art<01:20:15.940> of<01:20:16.180> civic<01:20:16.750> mentorship<01:20:17.290> of<01:20:17.470> how<01:20:17.710> what<01:20:18.280> it
01:20:18.360 --> 01:20:18.370 align:start position:0%
art of civic mentorship of how what it
01:20:18.370 --> 01:20:20.520 align:start position:0%
art of civic mentorship of how what it
means<01:20:18.550> to<01:20:18.700> raise<01:20:19.090> great<01:20:19.480> citizens<01:20:19.930> right<01:20:20.320> what
01:20:20.520 --> 01:20:20.530 align:start position:0%
means to raise great citizens right what
01:20:20.530 --> 01:20:22.380 align:start position:0%
means to raise great citizens right what
it<01:20:20.620> means<01:20:20.770> to<01:20:20.860> form<01:20:21.190> one<01:20:21.340> another<01:20:21.580> as<01:20:21.820> great
01:20:22.380 --> 01:20:22.390 align:start position:0%
it means to form one another as great
01:20:22.390 --> 01:20:24.810 align:start position:0%
it means to form one another as great
citizens<01:20:22.810> and<01:20:22.990> so<01:20:23.110> I<01:20:23.140> agree<01:20:23.740> yes<01:20:24.100> that<01:20:24.400> you
01:20:24.810 --> 01:20:24.820 align:start position:0%
citizens and so I agree yes that you
01:20:24.820 --> 01:20:26.370 align:start position:0%
citizens and so I agree yes that you
know<01:20:24.940> focusing<01:20:25.330> on<01:20:25.450> the<01:20:25.600> on<01:20:25.780> the<01:20:25.840> necks<01:20:26.200> on<01:20:26.350> the
01:20:26.370 --> 01:20:26.380 align:start position:0%
know focusing on the on the necks on the
01:20:26.380 --> 01:20:30.060 align:start position:0%
know focusing on the on the necks on the
rising<01:20:26.770> generation<01:20:27.060> is<01:20:28.060> important<01:20:28.650> and<01:20:29.650> and
01:20:30.060 --> 01:20:30.070 align:start position:0%
rising generation is important and and
01:20:30.070 --> 01:20:31.740 align:start position:0%
rising generation is important and and
by<01:20:30.310> the<01:20:30.370> way<01:20:30.580> in<01:20:31.120> answer<01:20:31.420> to<01:20:31.540> the<01:20:31.570> first
01:20:31.740 --> 01:20:31.750 align:start position:0%
by the way in answer to the first
01:20:31.750 --> 01:20:34.020 align:start position:0%
by the way in answer to the first
question<01:20:31.900> I<01:20:32.230> don't<01:20:32.530> know<01:20:32.680> where<01:20:32.800> you<01:20:32.950> are<01:20:33.100> no
01:20:34.020 --> 01:20:34.030 align:start position:0%
question I don't know where you are no
01:20:34.030 --> 01:20:36.870 align:start position:0%
question I don't know where you are no
you're<01:20:34.210> not<01:20:34.240> crazy<01:20:35.280> and<01:20:36.280> no<01:20:36.460> this<01:20:36.640> is<01:20:36.760> not
01:20:36.870 --> 01:20:36.880 align:start position:0%
you're not crazy and no this is not
01:20:36.880 --> 01:20:40.970 align:start position:0%
you're not crazy and no this is not
quixotic<01:20:37.270> right<01:20:37.860> I<01:20:38.860> think<01:20:39.730> the<01:20:39.850> idea<01:20:39.970> of
01:20:40.970 --> 01:20:40.980 align:start position:0%
quixotic right I think the idea of
01:20:40.980 --> 01:20:44.520 align:start position:0%
quixotic right I think the idea of
making<01:20:41.980> choices<01:20:42.720> that<01:20:43.720> fuel<01:20:44.080> a<01:20:44.140> sense<01:20:44.440> of
01:20:44.520 --> 01:20:44.530 align:start position:0%
making choices that fuel a sense of
01:20:44.530 --> 01:20:45.990 align:start position:0%
making choices that fuel a sense of
purpose<01:20:44.770> and<01:20:45.100> having<01:20:45.370> that<01:20:45.400> purpose<01:20:45.850> be
01:20:45.990 --> 01:20:46.000 align:start position:0%
purpose and having that purpose be
01:20:46.000 --> 01:20:47.160 align:start position:0%
purpose and having that purpose be
aligned<01:20:46.330> with<01:20:46.510> something<01:20:46.840> that<01:20:46.960> is<01:20:47.050> bigger
01:20:47.160 --> 01:20:47.170 align:start position:0%
aligned with something that is bigger
01:20:47.170 --> 01:20:49.680 align:start position:0%
aligned with something that is bigger
than<01:20:47.410> just<01:20:47.560> oneself<01:20:48.070> is<01:20:48.310> a<01:20:48.370> very<01:20:49.120> not<01:20:49.390> crazy
01:20:49.680 --> 01:20:49.690 align:start position:0%
than just oneself is a very not crazy
01:20:49.690 --> 01:20:52.740 align:start position:0%
than just oneself is a very not crazy
idea<01:20:50.170> right<01:20:51.040> and<01:20:51.910> you're<01:20:52.090> right<01:20:52.300> that<01:20:52.570> you
01:20:52.740 --> 01:20:52.750 align:start position:0%
idea right and you're right that you
01:20:52.750 --> 01:20:56.030 align:start position:0%
idea right and you're right that you
know<01:20:52.900> our<01:20:53.530> brains<01:20:53.800> are<01:20:54.100> changed<01:20:54.700> right<01:20:54.880> i<01:20:54.940> mean
01:20:56.030 --> 01:20:56.040 align:start position:0%
know our brains are changed right i mean
01:20:56.040 --> 01:20:59.550 align:start position:0%
know our brains are changed right i mean
my<01:20:57.040> daughter<01:20:57.460> who's<01:20:57.700> 12<01:20:58.230> said<01:20:59.230> as
01:20:59.550 --> 01:20:59.560 align:start position:0%
my daughter who's 12 said as
01:20:59.560 --> 01:21:01.350 align:start position:0%
my daughter who's 12 said as
thanksgiving<01:21:00.400> was<01:21:00.520> approaching<01:21:01.000> that<01:21:01.180> she
01:21:01.350 --> 01:21:01.360 align:start position:0%
thanksgiving was approaching that she
01:21:01.360 --> 01:21:02.970 align:start position:0%
thanksgiving was approaching that she
was<01:21:01.480> really<01:21:01.660> excited<01:21:02.140> about<01:21:02.590> and<01:21:02.830> looking
01:21:02.970 --> 01:21:02.980 align:start position:0%
was really excited about and looking
01:21:02.980 --> 01:21:07.440 align:start position:0%
was really excited about and looking
forward<01:21:03.160> to<01:21:03.280> black<01:21:03.430> friday<01:21:04.020> and<01:21:05.760> i<01:21:06.760> stopped
01:21:07.440 --> 01:21:07.450 align:start position:0%
forward to black friday and i stopped
01:21:07.450 --> 01:21:09.180 align:start position:0%
forward to black friday and i stopped
for<01:21:07.660> a<01:21:07.720> moment<01:21:07.840> and<01:21:08.110> i<01:21:08.200> was<01:21:08.470> like<01:21:08.680> are<01:21:09.100> you
01:21:09.180 --> 01:21:09.190 align:start position:0%
for a moment and i was like are you
01:21:09.190 --> 01:21:12.090 align:start position:0%
for a moment and i was like are you
kidding<01:21:09.490> like<01:21:10.360> why<01:21:10.660> why<01:21:10.930> don't<01:21:11.650> talk<01:21:11.980> about
01:21:12.090 --> 01:21:12.100 align:start position:0%
kidding like why why don't talk about
01:21:12.100 --> 01:21:14.070 align:start position:0%
kidding like why why don't talk about
black<01:21:12.370> friday<01:21:12.520> right<01:21:13.000> but<01:21:13.180> what<01:21:13.660> is<01:21:13.810> it<01:21:13.960> about
01:21:14.070 --> 01:21:14.080 align:start position:0%
black friday right but what is it about
01:21:14.080 --> 01:21:15.720 align:start position:0%
black friday right but what is it about
the<01:21:14.320> kind<01:21:14.470> of<01:21:14.530> messages<01:21:14.980> that<01:21:15.040> the<01:21:15.340> culture
01:21:15.720 --> 01:21:15.730 align:start position:0%
the kind of messages that the culture
01:21:15.730 --> 01:21:17.760 align:start position:0%
the kind of messages that the culture
has<01:21:15.910> sent<01:21:16.240> her<01:21:16.420> about<01:21:17.080> what<01:21:17.380> that<01:21:17.530> there's
01:21:17.760 --> 01:21:17.770 align:start position:0%
has sent her about what that there's
01:21:17.770 --> 01:21:19.230 align:start position:0%
has sent her about what that there's
something<01:21:18.070> kind<01:21:18.310> of<01:21:18.430> exciting<01:21:18.550> and<01:21:19.030> for<01:21:19.150> her
01:21:19.230 --> 01:21:19.240 align:start position:0%
something kind of exciting and for her
01:21:19.240 --> 01:21:20.850 align:start position:0%
something kind of exciting and for her
it<01:21:19.270> wasn't<01:21:19.510> even<01:21:19.810> necessarily<01:21:20.050> about<01:21:20.200> kind<01:21:20.770> of
01:21:20.850 --> 01:21:20.860 align:start position:0%
it wasn't even necessarily about kind of
01:21:20.860 --> 01:21:22.440 align:start position:0%
it wasn't even necessarily about kind of
shopping<01:21:21.160> and<01:21:21.370> being<01:21:21.550> first<01:21:21.790> in<01:21:21.970> line<01:21:22.090> for<01:21:22.330> her
01:21:22.440 --> 01:21:22.450 align:start position:0%
shopping and being first in line for her
01:21:22.450 --> 01:21:23.640 align:start position:0%
shopping and being first in line for her
to<01:21:22.570> signal<01:21:22.930> the<01:21:23.020> beginning<01:21:23.140> of<01:21:23.470> this<01:21:23.590> whole
01:21:23.640 --> 01:21:23.650 align:start position:0%
to signal the beginning of this whole
01:21:23.650 --> 01:21:26.190 align:start position:0%
to signal the beginning of this whole
season<01:21:24.430> but<01:21:24.790> let's<01:21:25.030> let's<01:21:25.390> be<01:21:25.570> honest<01:21:25.960> here
01:21:26.190 --> 01:21:26.200 align:start position:0%
season but let's let's be honest here
01:21:26.200 --> 01:21:28.320 align:start position:0%
season but let's let's be honest here
right<01:21:26.680> season<01:21:27.130> of<01:21:27.280> consumer<01:21:27.730> season<01:21:28.210> of
01:21:28.320 --> 01:21:28.330 align:start position:0%
right season of consumer season of
01:21:28.330 --> 01:21:30.690 align:start position:0%
right season of consumer season of
consumption<01:21:28.780> yeah<01:21:29.200> right<01:21:29.560> it<01:21:30.040> is<01:21:30.220> a<01:21:30.250> season<01:21:30.670> of
01:21:30.690 --> 01:21:30.700 align:start position:0%
consumption yeah right it is a season of
01:21:30.700 --> 01:21:34.170 align:start position:0%
consumption yeah right it is a season of
consumption<01:21:31.210> right<01:21:31.720> and<01:21:31.960> so<01:21:32.170> our<01:21:33.130> brains<01:21:33.460> you
01:21:34.170 --> 01:21:34.180 align:start position:0%
consumption right and so our brains you
01:21:34.180 --> 01:21:37.740 align:start position:0%
consumption right and so our brains you
know<01:21:34.330> we<01:21:34.990> respond<01:21:35.410> and<01:21:35.620> Pavlovian<01:21:36.250> ways<01:21:36.750> to
01:21:37.740 --> 01:21:37.750 align:start position:0%
know we respond and Pavlovian ways to
01:21:37.750 --> 01:21:39.960 align:start position:0%
know we respond and Pavlovian ways to
these<01:21:38.320> kinds<01:21:38.620> of<01:21:38.680> signals<01:21:39.070> and<01:21:39.340> we<01:21:39.580> send<01:21:39.820> those
01:21:39.960 --> 01:21:39.970 align:start position:0%
these kinds of signals and we send those
01:21:39.970 --> 01:21:41.430 align:start position:0%
these kinds of signals and we send those
signals<01:21:40.390> and<01:21:40.600> we<01:21:40.690> participate<01:21:41.260> in<01:21:41.350> the
01:21:41.430 --> 01:21:41.440 align:start position:0%
signals and we participate in the
01:21:41.440 --> 01:21:43.320 align:start position:0%
signals and we participate in the
sending<01:21:41.710> of<01:21:41.770> those<01:21:41.890> signals<01:21:42.250> and<01:21:42.460> so<01:21:42.610> it's<01:21:43.120> not
01:21:43.320 --> 01:21:43.330 align:start position:0%
sending of those signals and so it's not
01:21:43.330 --> 01:21:46.020 align:start position:0%
sending of those signals and so it's not
just<01:21:43.690> about<01:21:43.840> you<01:21:44.680> know<01:21:44.770> writing<01:21:45.220> you<01:21:45.910> know
01:21:46.020 --> 01:21:46.030 align:start position:0%
just about you know writing you know
01:21:46.030 --> 01:21:47.760 align:start position:0%
just about you know writing you know
everybody<01:21:46.510> you<01:21:46.630> know<01:21:46.690> writing<01:21:47.140> off<01:21:47.320> everybody
01:21:47.760 --> 01:21:47.770 align:start position:0%
everybody you know writing off everybody
01:21:47.770 --> 01:21:50.010 align:start position:0%
everybody you know writing off everybody
over<01:21:47.950> the<01:21:48.010> age<01:21:48.070> of<01:21:48.220> 30<01:21:48.460> and<01:21:49.420> saying<01:21:49.870> it's<01:21:49.990> too
01:21:50.010 --> 01:21:50.020 align:start position:0%
over the age of 30 and saying it's too
01:21:50.020 --> 01:21:53.520 align:start position:0%
over the age of 30 and saying it's too
late<01:21:50.200> to<01:21:50.320> change<01:21:50.530> because<01:21:50.880> again<01:21:51.880> taya<01:21:52.530> I'm
01:21:53.520 --> 01:21:53.530 align:start position:0%
late to change because again taya I'm
01:21:53.530 --> 01:21:56.910 align:start position:0%
late to change because again taya I'm
fascinated<01:21:53.980> by<01:21:54.340> moments<01:21:55.000> in<01:21:55.090> history<01:21:55.920> where
01:21:56.910 --> 01:21:56.920 align:start position:0%
fascinated by moments in history where
01:21:56.920 --> 01:21:59.910 align:start position:0%
fascinated by moments in history where
norms<01:21:57.910> shift<01:21:58.270> suddenly<01:21:58.810> we're<01:21:59.410> in<01:21:59.500> the<01:21:59.590> midst
01:21:59.910 --> 01:21:59.920 align:start position:0%
norms shift suddenly we're in the midst
01:21:59.920 --> 01:22:01.590 align:start position:0%
norms shift suddenly we're in the midst
of<01:21:59.980> one<01:22:00.130> right<01:22:00.340> now<01:22:00.370> around<01:22:00.820> gay<01:22:01.090> marriage<01:22:01.450> in
01:22:01.590 --> 01:22:01.600 align:start position:0%
of one right now around gay marriage in
01:22:01.600 --> 01:22:04.650 align:start position:0%
of one right now around gay marriage in
this<01:22:02.230> country<01:22:02.290> right<01:22:03.250> a<01:22:03.430> fascinating<01:22:03.910> moment
01:22:04.650 --> 01:22:04.660 align:start position:0%
this country right a fascinating moment
01:22:04.660 --> 01:22:07.830 align:start position:0%
this country right a fascinating moment
we're<01:22:04.990> in<01:22:05.920> a<01:22:05.980> few<01:22:06.190> years<01:22:06.310> time<01:22:06.430> it<01:22:06.880> will<01:22:07.000> in<01:22:07.750> a
01:22:07.830 --> 01:22:07.840 align:start position:0%
we're in a few years time it will in a
01:22:07.840 --> 01:22:11.670 align:start position:0%
we're in a few years time it will in a
few<01:22:07.870> years<01:22:08.140> time<01:22:08.260> it<01:22:08.620> will<01:22:08.770> seem<01:22:09.040> as<01:22:09.360> odd<01:22:10.680> to
01:22:11.670 --> 01:22:11.680 align:start position:0%
few years time it will seem as odd to
01:22:11.680 --> 01:22:14.460 align:start position:0%
few years time it will seem as odd to
most<01:22:11.890> Americans<01:22:12.490> that<01:22:13.050> gay<01:22:14.050> and<01:22:14.170> lesbian
01:22:14.460 --> 01:22:14.470 align:start position:0%
most Americans that gay and lesbian
01:22:14.470 --> 01:22:16.709 align:start position:0%
most Americans that gay and lesbian
Americans<01:22:14.530> couldn't<01:22:15.070> get<01:22:15.640> married<01:22:15.790> as
01:22:16.709 --> 01:22:16.719 align:start position:0%
Americans couldn't get married as
01:22:16.719 --> 01:22:20.850 align:start position:0%
Americans couldn't get married as
once<01:22:16.960> seemed<01:22:17.320> as<01:22:18.010> it<01:22:18.130> now<01:22:18.249> seems<01:22:18.579> odd<01:22:18.880> that<01:22:19.860> you
01:22:20.850 --> 01:22:20.860 align:start position:0%
once seemed as it now seems odd that you
01:22:20.860 --> 01:22:22.529 align:start position:0%
once seemed as it now seems odd that you
know<01:22:20.979> to<01:22:21.039> my<01:22:21.340> daughter<01:22:21.610> that<01:22:21.969> she<01:22:22.179> could<01:22:22.420> have
01:22:22.529 --> 01:22:22.539 align:start position:0%
know to my daughter that she could have
01:22:22.539 --> 01:22:24.689 align:start position:0%
know to my daughter that she could have
parents<01:22:23.110> who<01:22:23.920> are<01:22:24.070> of<01:22:24.190> two<01:22:24.280> different<01:22:24.400> races
01:22:24.689 --> 01:22:24.699 align:start position:0%
parents who are of two different races
01:22:24.699 --> 01:22:28.379 align:start position:0%
parents who are of two different races
right<01:22:25.690> norms<01:22:26.530> shift<01:22:26.860> norm<01:22:27.760> shifts<01:22:28.090> suddenly
01:22:28.379 --> 01:22:28.389 align:start position:0%
right norms shift norm shifts suddenly
01:22:28.389 --> 01:22:29.969 align:start position:0%
right norms shift norm shifts suddenly
and<01:22:28.479> they<01:22:28.539> don't<01:22:28.599> shift<01:22:28.900> only<01:22:29.469> because<01:22:29.650> young
01:22:29.969 --> 01:22:29.979 align:start position:0%
and they don't shift only because young
01:22:29.979 --> 01:22:32.160 align:start position:0%
and they don't shift only because young
people<01:22:30.010> have<01:22:30.820> the<01:22:30.849> open-mindedness<01:22:31.420> we<01:22:31.929> have
01:22:32.160 --> 01:22:32.170 align:start position:0%
people have the open-mindedness we have
01:22:32.170 --> 01:22:33.600 align:start position:0%
people have the open-mindedness we have
to<01:22:32.320> have<01:22:32.440> young<01:22:32.650> people<01:22:32.769> we<01:22:33.039> have<01:22:33.159> to<01:22:33.309> thrive
01:22:33.600 --> 01:22:33.610 align:start position:0%
to have young people we have to thrive
01:22:33.610 --> 01:22:35.310 align:start position:0%
to have young people we have to thrive
we<01:22:33.999> have<01:22:34.090> to<01:22:34.150> support<01:22:34.510> thriving<01:22:35.079> of<01:22:35.170> young
01:22:35.310 --> 01:22:35.320 align:start position:0%
we have to support thriving of young
01:22:35.320 --> 01:22:37.200 align:start position:0%
we have to support thriving of young
people<01:22:35.679> but<01:22:36.159> norms<01:22:36.489> shift<01:22:36.760> ultimately
01:22:37.200 --> 01:22:37.210 align:start position:0%
people but norms shift ultimately
01:22:37.210 --> 01:22:40.379 align:start position:0%
people but norms shift ultimately
because<01:22:37.599> older<01:22:38.440> people<01:22:38.579> still<01:22:39.579> particularly
01:22:40.379 --> 01:22:40.389 align:start position:0%
because older people still particularly
01:22:40.389 --> 01:22:42.569 align:start position:0%
because older people still particularly
boomers<01:22:40.809> who<01:22:41.139> are<01:22:41.170> the<01:22:41.469> dominant<01:22:41.949> generation
01:22:42.569 --> 01:22:42.579 align:start position:0%
boomers who are the dominant generation
01:22:42.579 --> 01:22:44.729 align:start position:0%
boomers who are the dominant generation
in<01:22:42.729> our<01:22:42.820> politics<01:22:43.269> and<01:22:43.479> economics<01:22:43.539> and<01:22:44.199> civic
01:22:44.729 --> 01:22:44.739 align:start position:0%
in our politics and economics and civic
01:22:44.739 --> 01:22:46.500 align:start position:0%
in our politics and economics and civic
life<01:22:44.949> decide<01:22:45.760> they<01:22:46.030> want<01:22:46.210> to<01:22:46.300> change
01:22:46.500 --> 01:22:46.510 align:start position:0%
life decide they want to change
01:22:46.510 --> 01:22:48.479 align:start position:0%
life decide they want to change
something<01:22:46.690> if<01:22:47.050> boomers<01:22:47.530> today<01:22:47.829> decided<01:22:48.369> they
01:22:48.479 --> 01:22:48.489 align:start position:0%
something if boomers today decided they
01:22:48.489 --> 01:22:50.339 align:start position:0%
something if boomers today decided they
were<01:22:48.550> anti<01:22:48.909> consumption<01:22:49.479> this<01:22:49.840> country<01:22:50.229> would
01:22:50.339 --> 01:22:50.349 align:start position:0%
were anti consumption this country would
01:22:50.349 --> 01:22:52.830 align:start position:0%
were anti consumption this country would
flip<01:22:50.679> if<01:22:50.860> boomers<01:22:51.699> decided<01:22:52.179> today<01:22:52.360> that
01:22:52.830 --> 01:22:52.840 align:start position:0%
flip if boomers decided today that
01:22:52.840 --> 01:22:54.870 align:start position:0%
flip if boomers decided today that
retirement<01:22:53.499> isn't<01:22:53.829> about<01:22:54.130> just<01:22:54.429> finding<01:22:54.670> a
01:22:54.870 --> 01:22:54.880 align:start position:0%
retirement isn't about just finding a
01:22:54.880 --> 01:22:56.669 align:start position:0%
retirement isn't about just finding a
golf<01:22:55.090> course<01:22:55.329> and<01:22:55.659> just<01:22:55.840> kicking<01:22:56.349> back<01:22:56.380> but
01:22:56.669 --> 01:22:56.679 align:start position:0%
golf course and just kicking back but
01:22:56.679 --> 01:22:58.709 align:start position:0%
golf course and just kicking back but
was<01:22:56.800> about<01:22:56.979> serving<01:22:57.519> and<01:22:57.699> mentoring<01:22:58.510> and
01:22:58.709 --> 01:22:58.719 align:start position:0%
was about serving and mentoring and
01:22:58.719 --> 01:23:00.149 align:start position:0%
was about serving and mentoring and
finding<01:22:59.079> greater<01:22:59.260> public<01:22:59.440> purpose<01:22:59.889> this
01:23:00.149 --> 01:23:00.159 align:start position:0%
finding greater public purpose this
01:23:00.159 --> 01:23:02.790 align:start position:0%
finding greater public purpose this
country<01:23:00.519> would<01:23:00.639> flip<01:23:00.940> right<01:23:01.809> many<01:23:02.469> of<01:23:02.590> you<01:23:02.679> are
01:23:02.790 --> 01:23:02.800 align:start position:0%
country would flip right many of you are
01:23:02.800 --> 01:23:04.410 align:start position:0%
country would flip right many of you are
boomers<01:23:03.099> here<01:23:03.400> you<01:23:03.639> have<01:23:03.849> it<01:23:03.880> in<01:23:04.090> your<01:23:04.210> power
01:23:04.410 --> 01:23:04.420 align:start position:0%
boomers here you have it in your power
01:23:04.420 --> 01:23:06.060 align:start position:0%
boomers here you have it in your power
to<01:23:04.599> change<01:23:04.960> this<01:23:05.199> country<01:23:05.409> because<01:23:05.829> of<01:23:05.979> the
01:23:06.060 --> 01:23:06.070 align:start position:0%
to change this country because of the
01:23:06.070 --> 01:23:08.609 align:start position:0%
to change this country because of the
sheer<01:23:06.309> throw<01:23:07.119> weight<01:23:07.389> of<01:23:07.599> your<01:23:08.170> generation
01:23:08.609 --> 01:23:08.619 align:start position:0%
sheer throw weight of your generation
01:23:08.619 --> 01:23:11.069 align:start position:0%
sheer throw weight of your generation
demographically<01:23:09.519> I'm<01:23:09.999> from<01:23:10.570> poor<01:23:10.809> weak
01:23:11.069 --> 01:23:11.079 align:start position:0%
demographically I'm from poor weak
01:23:11.079 --> 01:23:13.680 align:start position:0%
demographically I'm from poor weak
little<01:23:11.289> Gen<01:23:11.559> X<01:23:11.769> right<01:23:12.489> we're<01:23:13.150> just<01:23:13.329> we're<01:23:13.539> just
01:23:13.680 --> 01:23:13.690 align:start position:0%
little Gen X right we're just we're just
01:23:13.690 --> 01:23:15.930 align:start position:0%
little Gen X right we're just we're just
tagging<01:23:14.079> along<01:23:14.219> hoping<01:23:15.219> you<01:23:15.340> guys<01:23:15.489> you<01:23:15.849> know
01:23:15.930 --> 01:23:15.940 align:start position:0%
tagging along hoping you guys you know
01:23:15.940 --> 01:23:17.279 align:start position:0%
tagging along hoping you guys you know
clear<01:23:16.269> something<01:23:16.659> of<01:23:16.719> a<01:23:16.780> path<01:23:16.960> and<01:23:17.170> don't
01:23:17.279 --> 01:23:17.289 align:start position:0%
clear something of a path and don't
01:23:17.289 --> 01:23:19.339 align:start position:0%
clear something of a path and don't
screw<01:23:17.590> it<01:23:17.619> up<01:23:17.739> before<01:23:17.920> we<01:23:18.190> get<01:23:18.340> there<01:23:18.550> right
01:23:19.339 --> 01:23:19.349 align:start position:0%
screw it up before we get there right
01:23:19.349 --> 01:23:22.259 align:start position:0%
screw it up before we get there right
but<01:23:20.349> the<01:23:20.469> boomers<01:23:20.920> have<01:23:21.369> it<01:23:21.579> in<01:23:21.699> your<01:23:21.820> power<01:23:22.059> to
01:23:22.259 --> 01:23:22.269 align:start position:0%
but the boomers have it in your power to
01:23:22.269 --> 01:23:23.939 align:start position:0%
but the boomers have it in your power to
completely<01:23:22.749> change<01:23:22.989> and<01:23:23.469> save<01:23:23.619> this<01:23:23.769> country
01:23:23.939 --> 01:23:23.949 align:start position:0%
completely change and save this country
01:23:23.949 --> 01:23:26.299 align:start position:0%
completely change and save this country
and<01:23:24.219> so<01:23:24.400> it's<01:23:24.579> a<01:23:24.670> yes<01:23:24.699> and<01:23:25.150> in<01:23:25.300> my<01:23:25.420> view<01:23:25.449> okay
01:23:26.299 --> 01:23:26.309 align:start position:0%
and so it's a yes and in my view okay
01:23:26.309 --> 01:23:30.060 align:start position:0%
and so it's a yes and in my view okay
listen<01:23:27.309> we're<01:23:28.239> done<01:23:28.420> we<01:23:29.380> are<01:23:29.409> thank<01:23:29.769> thank<01:23:29.949> you
01:23:30.060 --> 01:23:30.070 align:start position:0%
listen we're done we are thank thank you
01:23:30.070 --> 01:23:41.399 align:start position:0%
listen we're done we are thank thank you
very<01:23:30.340> much<01:23:30.579> and<01:23:31.019> thank<01:23:32.019> you<01:23:32.170> so<01:23:32.380> much
01:23:41.399 --> 01:23:41.409 align:start position:0%
01:23:41.409 --> 01:23:43.469 align:start position:0%
you