oh thank you we start to spy this way here okay your anything right
this way here okay your anything right
this way here okay your anything right so let’s say that you and I are both on
so let’s say that you and I are both on
so let’s say that you and I are both on business it’s honor let’s say we’re both
business it’s honor let’s say we’re both
business it’s honor let’s say we’re both on businesses at down south of Louisiana
on businesses at down south of Louisiana
on businesses at down south of Louisiana and we will produce the same product I
and we will produce the same product I
and we will produce the same product I seem to be very loud we don’t produce
seem to be very loud we don’t produce
seem to be very loud we don’t produce the same product for it will produce the
the same product for it will produce the
the same product for it will produce the same product using the same equipment
same product using the same equipment
same product using the same equipment etc okay the only difference is that
etc okay the only difference is that
etc okay the only difference is that you’re willing to hire anybody who can
you’re willing to hire anybody who can
you’re willing to hire anybody who can do the job if man who isn’t any racial
do the job if man who isn’t any racial
do the job if man who isn’t any racial ethnic group you’re willing to hire
ethnic group you’re willing to hire
ethnic group you’re willing to hire anybody who can do the job
anybody who can do the job
anybody who can do the job whereas I will only hire people look
whereas I will only hire people look
whereas I will only hire people look like me my question for you is which one
like me my question for you is which one
like me my question for you is which one of us is going to have to have which one
of us is going to have to have which one
of us is going to have to have which one of us will end up with lower cost of
of us will end up with lower cost of
of us will end up with lower cost of labor lower wages yes absolutely to put
labor lower wages yes absolutely to put
labor lower wages yes absolutely to put numbers on your hiring from a much
numbers on your hiring from a much
numbers on your hiring from a much larger pool and you might be able to
larger pool and you might be able to
larger pool and you might be able to hire workers for 6 bucks an hour we’re
hire workers for 6 bucks an hour we’re
hire workers for 6 bucks an hour we’re in Louisiana after all whereas I finally
in Louisiana after all whereas I finally
in Louisiana after all whereas I finally hire people look like see I might have
hire people look like see I might have
hire people look like see I might have to pay $7 now so if you have lower wage
to pay $7 now so if you have lower wage
to pay $7 now so if you have lower wage costs which of which firm is going to be
costs which of which firm is going to be
costs which of which firm is going to be more profit is your company or my column
more profit is your company or my column
more profit is your company or my column yes I agree your company lower wages
yes I agree your company lower wages
yes I agree your company lower wages German be more problem this is what the
German be more problem this is what the
German be more problem this is what the market does the market punishes
market does the market punishes
market does the market punishes discrimination punishes bigotry if you
discrimination punishes bigotry if you
discrimination punishes bigotry if you are prejudiced towards workers or your
are prejudiced towards workers or your
are prejudiced towards workers or your employees to your customers to your
employees to your customers to your
employees to your customers to your shareholders then the market is going to
shareholders then the market is going to
shareholders then the market is going to punish you back ok now consider the role
punish you back ok now consider the role
punish you back ok now consider the role of a minimum wage or not consider well
of a minimum wage or not consider well
of a minimum wage or not consider well the minimum wage will submit any wage
the minimum wage will submit any wage
the minimum wage will submit any wage right now seven dollars and a quarter so
right now seven dollars and a quarter so
right now seven dollars and a quarter so let’s say a minimum wage law is passed
let’s say a minimum wage law is passed
let’s say a minimum wage law is passed you use to be able to get workers for
you use to be able to get workers for
you use to be able to get workers for six dollars I had to pay seven this gave
six dollars I had to pay seven this gave
six dollars I had to pay seven this gave you an advantage because you were not
you an advantage because you were not
you an advantage because you were not prejudiced but now
prejudiced but now
prejudiced but now Harmon is and everybody paid southern a
Harmon is and everybody paid southern a
Harmon is and everybody paid southern a quarter for ages what happens to your
quarter for ages what happens to your
quarter for ages what happens to your competitive advantage it’s gone it’s
competitive advantage it’s gone it’s
competitive advantage it’s gone it’s gone you’re no longer I’m no longer
gone you’re no longer I’m no longer
gone you’re no longer I’m no longer punished for being prejudiced you’re no
punished for being prejudiced you’re no
punished for being prejudiced you’re no longer rewarded for being willing to
longer rewarded for being willing to
longer rewarded for being willing to hire anybody who can do the job so nice
hire anybody who can do the job so nice
hire anybody who can do the job so nice Theory nice theory but is it true well
Theory nice theory but is it true well
Theory nice theory but is it true well consider going back to 1928 1948 the
consider going back to 1928 1948 the
consider going back to 1928 1948 the minimum wage in the United States was 40
minimum wage in the United States was 40
minimum wage in the United States was 40 cents now 40 cents Valley now who works
cents now 40 cents Valley now who works
cents now 40 cents Valley now who works at the minimum wage
at the minimum wage
at the minimum wage well it’s people generally going for
well it’s people generally going for
well it’s people generally going for their first job they may not have
their first job they may not have
their first job they may not have experience they may not have a lot of
experience they may not have a lot of
experience they may not have a lot of education teenagers usually teenagers
education teenagers usually teenagers
education teenagers usually teenagers their first job is going to be a
their first job is going to be a
their first job is going to be a minimum-wage job well if you look at
minimum-wage job well if you look at
minimum-wage job well if you look at 1940 the unemployment rate among black
1940 the unemployment rate among black
1940 the unemployment rate among black teenagers the unemployment rate among
teenagers the unemployment rate among
teenagers the unemployment rate among white teenagers was almost exactly the
white teenagers was almost exactly the
white teenagers was almost exactly the same
same
same but the minimum wage keeps increasing
but the minimum wage keeps increasing
but the minimum wage keeps increasing it’s increased 23 times since 1940 if
it’s increased 23 times since 1940 if
it’s increased 23 times since 1940 if you go to the Great Recession in 1982
you go to the Great Recession in 1982
you go to the Great Recession in 1982 the worst downturn we’ve had since Great
the worst downturn we’ve had since Great
the worst downturn we’ve had since Great Depression you will see that the
Depression you will see that the
Depression you will see that the unemployment rate among black teenagers
unemployment rate among black teenagers
unemployment rate among black teenagers was twice as high as that of white
was twice as high as that of white
was twice as high as that of white teenagers in in 1982 and in fact if you
teenagers in in 1982 and in fact if you
teenagers in in 1982 and in fact if you look at last month
look at last month
look at last month October 2016 the unemployment rate among
October 2016 the unemployment rate among
October 2016 the unemployment rate among black teenagers is still twice as high
black teenagers is still twice as high
black teenagers is still twice as high as that among white teenagers so here we
as that among white teenagers so here we
as that among white teenagers so here we had this very desirable outcome we want
had this very desirable outcome we want
had this very desirable outcome we want to have a minimum wage to allow people
to have a minimum wage to allow people
to have a minimum wage to allow people to be able to support their family even
to be able to support their family even
to be able to support their family even if they’re starting off in their first
if they’re starting off in their first
if they’re starting off in their first job and yet this very desirable outcome
job and yet this very desirable outcome
job and yet this very desirable outcome made another problem worse the minimum
made another problem worse the minimum
made another problem worse the minimum wage desirable in itself reducing racial
wage desirable in itself reducing racial
wage desirable in itself reducing racial discrimination desirable in itself but
discrimination desirable in itself but
discrimination desirable in itself but the minimum wage has made the racial
the minimum wage has made the racial
the minimum wage has made the racial discrimination problem worse so what
discrimination problem worse so what
discrimination problem worse so what went wrong what went wrong well I’m not
went wrong what went wrong well I’m not
went wrong what went wrong well I’m not just said who won the Nobel Prize
just said who won the Nobel Prize
just said who won the Nobel Prize anything he put the following talk like
anything he put the following talk like
anything he put the following talk like this he said okay they give yourself you
this he said okay they give yourself you
this he said okay they give yourself you have a job to do and the job is the
have a job to do and the job is the
have a job to do and the job is the nature of the job
nature of the job
nature of the job that can only be done by one person and
that can only be done by one person and
that can only be done by one person and it’s a 500 dollar job so you’re going to
it’s a 500 dollar job so you’re going to
it’s a 500 dollar job so you’re going to hire one person in your village to do
hire one person in your village to do
hire one person in your village to do this job and you do a little research to
this job and you do a little research to
this job and you do a little research to discover that there’s three people in
discover that there’s three people in
discover that there’s three people in your village you can do the job to new
your village you can do the job to new
your village you can do the job to new with Chantal and Regina so they can all
with Chantal and Regina so they can all
with Chantal and Regina so they can all do the job you don’t have enough money
do the job you don’t have enough money
do the job you don’t have enough money to hire two up it’s a one-person job
to hire two up it’s a one-person job
to hire two up it’s a one-person job you’re not rich so what should you do
you’re not rich so what should you do
you’re not rich so what should you do you should flip a three-sided coin and
you should flip a three-sided coin and
you should flip a three-sided coin and whether wins gets the job see if what
whether wins gets the job see if what
whether wins gets the job see if what your three sided coin and up comes
your three sided coin and up comes
your three sided coin and up comes Regina see you star walk you over to
Regina see you star walk you over to
Regina see you star walk you over to repeat at a knock on our door and tell
repeat at a knock on our door and tell
repeat at a knock on our door and tell her the good news
her the good news
her the good news and on your way there you run into a
and on your way there you run into a
and on your way there you run into a friend of yours and the friend you tell
friend of yours and the friend you tell
friend of yours and the friend you tell him what you’re doing your friend says
him what you’re doing your friend says
him what you’re doing your friend says well you’re right the three of them can
well you’re right the three of them can
well you’re right the three of them can do the job but did you know that the new
do the job but did you know that the new
do the job but did you know that the new was definitely the poorest of the three
was definitely the poorest of the three
was definitely the poorest of the three not only has he poured that his family’s
not only has he poured that his family’s
not only has he poured that his family’s been poor for generations much poorer
been poor for generations much poorer
been poor for generations much poorer than Machado much more than Regina my
than Machado much more than Regina my
than Machado much more than Regina my question for you is you were going to
question for you is you were going to
question for you is you were going to give the job to Regina because you
give the job to Regina because you
give the job to Regina because you flipped the coin but now you know that
flipped the coin but now you know that
flipped the coin but now you know that the new is by far the poorest you change
the new is by far the poorest you change
the new is by far the poorest you change your mind
your mind
your mind do you give the job to do or sleep right
do you give the job to do or sleep right
do you give the job to do or sleep right here we need a decision yes okay all
here we need a decision yes okay all
here we need a decision yes okay all right so I turn around and I walk across
right so I turn around and I walk across
right so I turn around and I walk across the village I promise not to persecute
the village I promise not to persecute
the village I promise not to persecute you anymore I walk across the village on
you anymore I walk across the village on
you anymore I walk across the village on our children to do to give him the
our children to do to give him the
our children to do to give him the Dubnyk good news he has a job but I run
Dubnyk good news he has a job but I run
Dubnyk good news he has a job but I run into another friend of mine my friend
into another friend of mine my friend
into another friend of mine my friend says you know what you heard was
says you know what you heard was
says you know what you heard was absolutely right do do is the ports of
absolutely right do do is the ports of
absolutely right do do is the ports of these three but his family’s been poor
these three but his family’s been poor
these three but his family’s been poor for generations
for generations
for generations he’s become reconciled to his poverty
he’s become reconciled to his poverty
he’s become reconciled to his poverty Machado
Machado
Machado until you so he was middle-class his
until you so he was middle-class his
until you so he was middle-class his poverty is recent he’s not as far as
poverty is recent he’s not as far as
poverty is recent he’s not as far as dennou but he can’t cope with in fact
dennou but he can’t cope with in fact
dennou but he can’t cope with in fact many of the songs
many of the songs
many of the songs friends believe that he doesn’t get a
friends believe that he doesn’t get a
friends believe that he doesn’t get a job soon he’s going to commit suicide
job soon he’s going to commit suicide
job soon he’s going to commit suicide now I don’t want to answer but should
now I don’t want to answer but should
now I don’t want to answer but should you give the job that to do the poorest
you give the job that to do the poorest
you give the job that to do the poorest or should you give the job to Bassano
or should you give the job to Bassano
or should you give the job to Bassano who is desperate and may commit suicide
who is desperate and may commit suicide
who is desperate and may commit suicide or Regina after all among the toss well
or Regina after all among the toss well
or Regina after all among the toss well you decide I’ll give it the Bashan so
you decide I’ll give it the Bashan so
you decide I’ll give it the Bashan so you’re walking over to the shun oh you
you’re walking over to the shun oh you
you’re walking over to the shun oh you almost got into his house and you run
almost got into his house and you run
almost got into his house and you run into your friend now fortunately you
into your friend now fortunately you
into your friend now fortunately you only have three friends so the story is
only have three friends so the story is
only have three friends so the story is going to come to an end you run into a
going to come to an end you run into a
going to come to an end you run into a friend and the friend says yes the news
friend and the friend says yes the news
friend and the friend says yes the news the poorest and Visayas desperate may
the poorest and Visayas desperate may
the poorest and Visayas desperate may commit suicide but did you know that
commit suicide but did you know that
commit suicide but did you know that Regina
Regina
Regina suffers from a medical condition and if
suffers from a medical condition and if
suffers from a medical condition and if she gets this job for $500 she’ll be
she gets this job for $500 she’ll be
she gets this job for $500 she’ll be able to get a cure for a medical
able to get a cure for a medical
able to get a cure for a medical condition that will not only make her
condition that will not only make her
condition that will not only make her more prosperous but will open up a whole
more prosperous but will open up a whole
more prosperous but will open up a whole life for you don’t show a better family
life for you don’t show a better family
life for you don’t show a better family show a better career that her whole life
show a better career that her whole life
show a better career that her whole life the capabilities will expand domestic to
the capabilities will expand domestic to
the capabilities will expand domestic to do the poorest vashanoo the desperate or
do the poorest vashanoo the desperate or
do the poorest vashanoo the desperate or do you give it Regina where she can get
do you give it Regina where she can get
do you give it Regina where she can get a one-time fix for medical problems and
a one-time fix for medical problems and
a one-time fix for medical problems and the rest of her life could be much
the rest of her life could be much
the rest of her life could be much better at this point you might think
better at this point you might think
better at this point you might think ignorance is bliss it would be better if
ignorance is bliss it would be better if
ignorance is bliss it would be better if I didn’t run into my friends if I just
I didn’t run into my friends if I just
I didn’t run into my friends if I just flip a coin and and go to everyone but
flip a coin and and go to everyone but
flip a coin and and go to everyone but your knowledge now has a responsibility
your knowledge now has a responsibility
your knowledge now has a responsibility you have to act on that knowledge so the
you have to act on that knowledge so the
you have to act on that knowledge so the point of August 7 was trying to make is
point of August 7 was trying to make is
point of August 7 was trying to make is two points first of all decisions that
two points first of all decisions that
two points first of all decisions that we make whether we’re in favor of
we make whether we’re in favor of
we make whether we’re in favor of minimum wage whether it in favor of
minimum wage whether it in favor of
minimum wage whether it in favor of reducing racial discrimination or any of
reducing racial discrimination or any of
reducing racial discrimination or any of the other choices are based first of all
the other choices are based first of all
the other choices are based first of all information some information is easy to
information some information is easy to
information some information is easy to gather people’s income relatively easy
gather people’s income relatively easy
gather people’s income relatively easy to gather some information is difficult
to gather some information is difficult
to gather some information is difficult to gather whether a person is desperate
to gather whether a person is desperate
to gather whether a person is desperate other information might be difficult to
other information might be difficult to
other information might be difficult to gather and
gather and
gather and most impossible to interpret whether an
most impossible to interpret whether an
most impossible to interpret whether an operation is actually going to make a
operation is actually going to make a
operation is actually going to make a change in a person’s life okay so the
change in a person’s life okay so the
change in a person’s life okay so the first problem we faced is that the
first problem we faced is that the
first problem we faced is that the information the information that’s
information the information that’s
information the information that’s easiest to obtain might not be the
easiest to obtain might not be the
easiest to obtain might not be the information which is relative
information which is relative
information which is relative the second issue that said may the
the second issue that said may the
the second issue that said may the second challenge said may is people’s
second challenge said may is people’s
second challenge said may is people’s preferences are different people’s
preferences are different people’s
preferences are different people’s preferences are different you might
preferences are different you might
preferences are different you might decide to give the job to do you might
decide to give the job to do you might
decide to give the job to do you might decide of Machado you might decide
decide of Machado you might decide
decide of Machado you might decide Regina you might prefer to raise the
Regina you might prefer to raise the
Regina you might prefer to raise the minimum wage even if that’s going to
minimum wage even if that’s going to
minimum wage even if that’s going to lead to increased racial discrimination
lead to increased racial discrimination
lead to increased racial discrimination you might say that reducing racial
you might say that reducing racial
you might say that reducing racial discrimination is more important than
discrimination is more important than
discrimination is more important than providing a living wage for those at the
providing a living wage for those at the
providing a living wage for those at the minimum wage so is this the only
minimum wage so is this the only
minimum wage so is this the only challenge we face no you can actually
challenge we face no you can actually
challenge we face no you can actually you can actually get worse challenges
you can actually get worse challenges
you can actually get worse challenges more challenges absolute worse
more challenges absolute worse
more challenges absolute worse okay consider licensing consider
okay consider licensing consider
okay consider licensing consider licensing so the idea behind licensing
licensing so the idea behind licensing
licensing so the idea behind licensing is that none of us want to go to a
is that none of us want to go to a
is that none of us want to go to a doctor that doesn’t know math if we
doctor that doesn’t know math if we
doctor that doesn’t know math if we don’t want to be picked up by an
don’t want to be picked up by an
don’t want to be picked up by an ambulance if the emergency medical
ambulance if the emergency medical
ambulance if the emergency medical technician doesn’t know how to take care
technician doesn’t know how to take care
technician doesn’t know how to take care of we want to take our dog to a
of we want to take our dog to a
of we want to take our dog to a veterinarian or veterinary or with our
veterinarian or veterinary or with our
veterinarian or veterinary or with our dog sick route as well alright so we as
dog sick route as well alright so we as
dog sick route as well alright so we as a people we as a people want to have
a people we as a people want to have
a people we as a people want to have some kind of control we don’t have a
some kind of control we don’t have a
some kind of control we don’t have a licensing system well what has happened
licensing system well what has happened
licensing system well what has happened what’s happened in the United States is
what’s happened in the United States is
what’s happened in the United States is a dramatic growth in the number of
a dramatic growth in the number of
a dramatic growth in the number of professions and require licensing from
professions and require licensing from
professions and require licensing from less than 5% of the professions in the
less than 5% of the professions in the
less than 5% of the professions in the 1950s to over a third of all professions
1950s to over a third of all professions
1950s to over a third of all professions now and this is just as and doctors this
now and this is just as and doctors this
now and this is just as and doctors this is people holding up ordinary jobs the
is people holding up ordinary jobs the
is people holding up ordinary jobs the some of these professions the requires
some of these professions the requires
some of these professions the requires may by law our strike me as being
may by law our strike me as being
may by law our strike me as being incredibly irrational
incredibly irrational
incredibly irrational let’s consider to the average if you’re
let’s consider to the average if you’re
let’s consider to the average if you’re going to get a license as an emergency
going to get a license as an emergency
going to get a license as an emergency medical technician you’re going to be
medical technician you’re going to be
medical technician you’re going to be working with people without
working with people without
working with people without medical emergency the average amount of
medical emergency the average amount of
medical emergency the average amount of education required is 33 days of
education required is 33 days of
education required is 33 days of training if you are going to become an
training if you are going to become an
training if you are going to become an interior designer the requirement by law
interior designer the requirement by law
interior designer the requirement by law is if you have 2160 days worth of
is if you have 2160 days worth of
is if you have 2160 days worth of training excuse me sir how many people
training excuse me sir how many people
training excuse me sir how many people have died from bad interior design I
have died from bad interior design I
have died from bad interior design I think you’re overly pessimistic I think
think you’re overly pessimistic I think
think you’re overly pessimistic I think nobody has ever died remotely from
nobody has ever died remotely from
nobody has ever died remotely from adverse effects of interior design not
adverse effects of interior design not
adverse effects of interior design not only not only are the education
only not only are the education
only not only are the education requirements the financial requirements
requirements the financial requirements
requirements the financial requirements well now why is this a bad thing well
well now why is this a bad thing well
well now why is this a bad thing well think about who it impacts think about
think about who it impacts think about
think about who it impacts think about who it impacts it we’re not talking
who it impacts it we’re not talking
who it impacts it we’re not talking about professions that are helped by
about professions that are helped by
about professions that are helped by people with college degrees the ratios
people with college degrees the ratios
people with college degrees the ratios are the numbers I’m giving you here are
are the numbers I’m giving you here are
are the numbers I’m giving you here are the hundred and two professions that are
the hundred and two professions that are
the hundred and two professions that are most likely to be held by people low and
most likely to be held by people low and
most likely to be held by people low and middle income not high income low and
middle income not high income low and
middle income not high income low and middle income so by putting these
middle income so by putting these
middle income so by putting these licensing requirements by requiring the
licensing requirements by requiring the
licensing requirements by requiring the education or the payment in some case
education or the payment in some case
education or the payment in some case you have to pay a five thousand two
you have to pay a five thousand two
you have to pay a five thousand two hundred dollar fee to get a license so
hundred dollar fee to get a license so
hundred dollar fee to get a license so you’ve just graduated from high school
you’ve just graduated from high school
you’ve just graduated from high school you want to go into something maybe you
you want to go into something maybe you
you want to go into something maybe you want to become a barber in Washington DC
want to become a barber in Washington DC
want to become a barber in Washington DC you have to have 350 days of training to
you have to have 350 days of training to
you have to have 350 days of training to legally become a barber and that you
legally become a barber and that you
legally become a barber and that you have to pay several thousand dollars
have to pay several thousand dollars
have to pay several thousand dollars worth of license fees it blocks the
worth of license fees it blocks the
worth of license fees it blocks the young people to be able to get their
young people to be able to get their
young people to be able to get their first job it blocks people from able to
first job it blocks people from able to
first job it blocks people from able to establish their business and you might
establish their business and you might
establish their business and you might say wait a second that wasn’t our
say wait a second that wasn’t our
say wait a second that wasn’t our intention that wasn’t our purpose we
intention that wasn’t our purpose we
intention that wasn’t our purpose we just wanted to make sure that the guy in
just wanted to make sure that the guy in
just wanted to make sure that the guy in the end
the end
the end new item tree no heart attack and how
new item tree no heart attack and how
new item tree no heart attack and how did this happen well the problem is this
did this happen well the problem is this
did this happen well the problem is this is that if we don’t do something
is that if we don’t do something
is that if we don’t do something ourselves we create institutions and
ourselves we create institutions and
ourselves we create institutions and when we create institutions we create
when we create institutions we create
when we create institutions we create incentives and this brings us to or
incentives and this brings us to or
incentives and this brings us to or maybe does yes this brings us to another
maybe does yes this brings us to another
maybe does yes this brings us to another requiring James Buchanan and the pointy
requiring James Buchanan and the pointy
requiring James Buchanan and the pointy mates the point makes is that
mates the point makes is that
mates the point makes is that institutions create their own incentives
institutions create their own incentives
institutions create their own incentives ok 2004 2004 you had that terrible
ok 2004 2004 you had that terrible
ok 2004 2004 you had that terrible tsunami that hit South Asian okay 167
tsunami that hit South Asian okay 167
tsunami that hit South Asian okay 167 thousand people died in Thailand
thousand people died in Thailand
thousand people died in Thailand Indonesia and so I went out there to
Indonesia and so I went out there to
Indonesia and so I went out there to help coordinate the rescue every one of
help coordinate the rescue every one of
help coordinate the rescue every one of the things I did not realize about
the things I did not realize about
the things I did not realize about tsunami is it earthquakes earthquakes
tsunami is it earthquakes earthquakes
tsunami is it earthquakes earthquakes kill a lot of people and they leave a
kill a lot of people and they leave a
kill a lot of people and they leave a lot of people injured broken arms broken
lot of people injured broken arms broken
lot of people injured broken arms broken legs crushed chest a lot of injuries
legs crushed chest a lot of injuries
legs crushed chest a lot of injuries tsunamis are not like that
tsunamis are not like that
tsunamis are not like that tsunamis they either kill you or you’re
tsunamis they either kill you or you’re
tsunamis they either kill you or you’re probably okay
probably okay
probably okay you weren’t either drowned or swept away
you weren’t either drowned or swept away
you weren’t either drowned or swept away or you probably alright the number of
or you probably alright the number of
or you probably alright the number of broken legs broken arms crushed chest
broken legs broken arms crushed chest
broken legs broken arms crushed chest very very low
very very low
very very low okay so Banda Aceh was in the Northland
okay so Banda Aceh was in the Northland
okay so Banda Aceh was in the Northland on the western part of Indonesia and it
on the western part of Indonesia and it
on the western part of Indonesia and it was wiped out by the tsunami within two
was wiped out by the tsunami within two
was wiped out by the tsunami within two weeks two weeks six international
weeks two weeks six international
weeks two weeks six international charities had established hospitals in
charities had established hospitals in
charities had established hospitals in Banda Aceh
Banda Aceh
Banda Aceh and these hospitals were incredible
and these hospitals were incredible
and these hospitals were incredible standing outside the tent the the air is
standing outside the tent the the air is
standing outside the tent the the air is bad the water is bad electricity doesn’t
bad the water is bad electricity doesn’t
bad the water is bad electricity doesn’t work there’s rats you can step inside
work there’s rats you can step inside
work there’s rats you can step inside the tent and the air is clean the water
the tent and the air is clean the water
the tent and the air is clean the water is often clean the doctors and the
is often clean the doctors and the
is often clean the doctors and the nurses or first class it’s like stepping
nurses or first class it’s like stepping
nurses or first class it’s like stepping into what Johns Hopkins are like
into what Johns Hopkins are like
into what Johns Hopkins are like stepping into the Mayo Clinic the
stepping into the Mayo Clinic the
stepping into the Mayo Clinic the problem was
problem was
problem was tsunamis they either kill you or you’re
tsunamis they either kill you or you’re
tsunamis they either kill you or you’re alright those six hospitals didn’t have
alright those six hospitals didn’t have
alright those six hospitals didn’t have enough patients in fact at the end of
enough patients in fact at the end of
enough patients in fact at the end of week one directly
week one directly
week one directly versus getting more water discretes of
versus getting more water discretes of
versus getting more water discretes of baan taad chain trying to find people
baan taad chain trying to find people
baan taad chain trying to find people and drag them back to the hospital
and drag them back to the hospital
and drag them back to the hospital hey I noticed you’re walking with a limp
hey I noticed you’re walking with a limp
hey I noticed you’re walking with a limp come with me okay so I’m in the office
come with me okay so I’m in the office
come with me okay so I’m in the office one day and the gentleman walks in I
one day and the gentleman walks in I
one day and the gentleman walks in I think he was belted right in the Dutch
think he was belted right in the Dutch
think he was belted right in the Dutch gentleman walks in and he says on the
gentleman walks in and he says on the
gentleman walks in and he says on the director of the advance party of a
director of the advance party of a
director of the advance party of a hospital that’s coming from bellman and
hospital that’s coming from bellman and
hospital that’s coming from bellman and we were told to check in here before we
we were told to check in here before we
we were told to check in here before we set up our Hospital at Bondi chain and
set up our Hospital at Bondi chain and
set up our Hospital at Bondi chain and my boss comes in and he surprised me but
my boss comes in and he surprised me but
my boss comes in and he surprised me but Goss comes in and says look he says
Goss comes in and says look he says
Goss comes in and says look he says there are six hospitals in Banda Aceh
there are six hospitals in Banda Aceh
there are six hospitals in Banda Aceh and there’s not enough patients he said
and there’s not enough patients he said
and there’s not enough patients he said up in the hills of the hills there
up in the hills of the hills there
up in the hills of the hills there people who have never seen a doctor
people who have never seen a doctor
people who have never seen a doctor never
never
never he said I’ll do this for you you’re
he said I’ll do this for you you’re
he said I’ll do this for you you’re coming into the International Airport
coming into the International Airport
coming into the International Airport with all your doctors and nurses and
with all your doctors and nurses and
with all your doctors and nurses and equipment my boss said is I will give
equipment my boss said is I will give
equipment my boss said is I will give you the helicopters we will transport
you the helicopters we will transport
you the helicopters we will transport you up in the mountainside I will
you up in the mountainside I will
you up in the mountainside I will transport generators so you have
transport generators so you have
transport generators so you have electricity
electricity
electricity I will provide fuel every day for your
I will provide fuel every day for your
I will provide fuel every day for your your generators I’ll provide food to
your generators I’ll provide food to
your generators I’ll provide food to feed your people you stay up there as
feed your people you stay up there as
feed your people you stay up there as long as you want to and when you decide
long as you want to and when you decide
long as you want to and when you decide to leave I’ll provide that all countries
to leave I’ll provide that all countries
to leave I’ll provide that all countries bring you back to the International
bring you back to the International
bring you back to the International Airport and the guide for the Belgian
Airport and the guide for the Belgian
Airport and the guide for the Belgian hospital group said wow I never involved
hospital group said wow I never involved
hospital group said wow I never involved this this is fantastic said let me call
this this is fantastic said let me call
this this is fantastic said let me call the home office and I’ll get back to you
the home office and I’ll get back to you
the home office and I’ll get back to you tomorrow so the next day he came in and
tomorrow so the next day he came in and
tomorrow so the next day he came in and he said well I talked to the Home Office
he said well I talked to the Home Office
he said well I talked to the Home Office I told about your offer
I told about your offer
I told about your offer and they said set up the hospital in
and they said set up the hospital in
and they said set up the hospital in Baja GA anybody want to tell me why why
Baja GA anybody want to tell me why why
Baja GA anybody want to tell me why why because how do charities raise money
because how do charities raise money
because how do charities raise money they raised money by being seen doing
they raised money by being seen doing
they raised money by being seen doing good not by doing good but my Ducey’s
good not by doing good but my Ducey’s
good not by doing good but my Ducey’s doing good all the world’s media was
doing good all the world’s media was
doing good all the world’s media was filming banda aceh and so the management
filming banda aceh and so the management
filming banda aceh and so the management back in Belgium said look if you said
back in Belgium said look if you said
back in Belgium said look if you said Hospital banda aceh and we get on
Hospital banda aceh and we get on
Hospital banda aceh and we get on evening television television in in
evening television television in in
evening television television in in Belgium then 62,000 people donate would
Belgium then 62,000 people donate would
Belgium then 62,000 people donate would you give us the money that we can use to
you give us the money that we can use to
you give us the money that we can use to respond to the next disaster you go up
respond to the next disaster you go up
respond to the next disaster you go up into the hills where there’s no cameras
into the hills where there’s no cameras
into the hills where there’s no cameras where there’s no media we won’t be able
where there’s no media we won’t be able
where there’s no media we won’t be able to raise money for the next disaster so
to raise money for the next disaster so
to raise money for the next disaster so a seventh Hospital was established in
a seventh Hospital was established in
a seventh Hospital was established in Banda Aceh
Banda Aceh
Banda Aceh let me create institutions when we
let me create institutions when we
let me create institutions when we create institutions institutions have
create institutions institutions have
create institutions institutions have their own incentives and their
their own incentives and their
their own incentives and their incentives may diverge from the
incentives may diverge from the
incentives may diverge from the incentives for the people who
incentives for the people who
incentives for the people who established them I think if we could
established them I think if we could
established them I think if we could have called those 62,000 people that
have called those 62,000 people that
have called those 62,000 people that donated to that charity and asked each
donated to that charity and asked each
donated to that charity and asked each one of them should we put the hospital
one of them should we put the hospital
one of them should we put the hospital off of the hills I think all would have
off of the hills I think all would have
off of the hills I think all would have said yes
said yes
said yes take the hospital where its most needed
take the hospital where its most needed
take the hospital where its most needed but we didn’t have that option we didn’t
but we didn’t have that option we didn’t
but we didn’t have that option we didn’t have that after a rather me charity
have that after a rather me charity
have that after a rather me charity didn’t have that option so we ended up
didn’t have that option so we ended up
didn’t have that option so we ended up with the seventh hospital the bonod
with the seventh hospital the bonod
with the seventh hospital the bonod shape so what harm is done by the our
shape so what harm is done by the our
shape so what harm is done by the our rather how does this how does this occur
rather how does this how does this occur
rather how does this how does this occur then to say good I was insuring it well
then to say good I was insuring it well
then to say good I was insuring it well you don’t directly provide licensing you
you don’t directly provide licensing you
you don’t directly provide licensing you rely on the state of Pennsylvania rely
rely on the state of Pennsylvania rely
rely on the state of Pennsylvania rely on the national government you rely on
on the national government you rely on
on the national government you rely on regulatory authorities and their
regulatory authorities and their
regulatory authorities and their incentives are different from yours who
incentives are different from yours who
incentives are different from yours who is in favor of licensing who’s in favor
is in favor of licensing who’s in favor
is in favor of licensing who’s in favor of regulation it is existing businesses
of regulation it is existing businesses
of regulation it is existing businesses I’ve run a funeral home for 40 years I
I’ve run a funeral home for 40 years I
I’ve run a funeral home for 40 years I would like to make it more difficult for
would like to make it more difficult for
would like to make it more difficult for somebody else to establish a parallel I
somebody else to establish a parallel I
somebody else to establish a parallel I run an interior design from I have a
run an interior design from I have a
run an interior design from I have a strong incentive to make it more
strong incentive to make it more
strong incentive to make it more difficult for somebody else to open an
difficult for somebody else to open an
difficult for somebody else to open an interior design firm and the politicians
interior design firm and the politicians
interior design firm and the politicians listen to them of course they do they
listen to them of course they do they
listen to them of course they do they support them they vote for they donate
support them they vote for they donate
support them they vote for they donate money to their campaigns
money to their campaigns
money to their campaigns how about the Regulatory Authority in
how about the Regulatory Authority in
how about the Regulatory Authority in Harrisburg if you’re regulating one
Harrisburg if you’re regulating one
Harrisburg if you’re regulating one industry
industry
industry Selenia public to staff to you for how
Selenia public to staff to you for how
Selenia public to staff to you for how much do you get paid $60,000 a year but
much do you get paid $60,000 a year but
much do you get paid $60,000 a year but what if you’re regulating a hundred
what if you’re regulating a hundred
what if you’re regulating a hundred industries in Pennsylvania ah now your
industries in Pennsylvania ah now your
industries in Pennsylvania ah now your staff will be a hundred and you can page
staff will be a hundred and you can page
staff will be a hundred and you can page six figures plus so we create
six figures plus so we create
six figures plus so we create institutions institutions have
institutions institutions have
institutions institutions have incentives and that’s the end of my time
incentives and that’s the end of my time
incentives and that’s the end of my time okay we’ve created an institution and
okay we’ve created an institution and
okay we’ve created an institution and the institution has incentives which
the institution has incentives which
the institution has incentives which disagree okay so what can be done I’d
disagree okay so what can be done I’d
disagree okay so what can be done I’d like to say three things three things
like to say three things three things
like to say three things three things first of all humility there’s a lot we
first of all humility there’s a lot we
first of all humility there’s a lot we do not know they talk about States as
do not know they talk about States as
do not know they talk about States as being the laboratory of democracy you’ve
being the laboratory of democracy you’ve
being the laboratory of democracy you’ve got a great idea that’s going to make
got a great idea that’s going to make
got a great idea that’s going to make the country better good try it out in
the country better good try it out in
the country better good try it out in one or two states let’s see if it works
one or two states let’s see if it works
one or two states let’s see if it works there and then expand it let’s not say I
there and then expand it let’s not say I
there and then expand it let’s not say I understand the way the world works and
understand the way the world works and
understand the way the world works and expanding second one’s subsidiarity have
expanding second one’s subsidiarity have
expanding second one’s subsidiarity have things work as long as possible level if
things work as long as possible level if
things work as long as possible level if possible if you’re thinking of feeding
possible if you’re thinking of feeding
possible if you’re thinking of feeding hungry people the best way of doing that
hungry people the best way of doing that
hungry people the best way of doing that is go to work at the soup kitchen in
is go to work at the soup kitchen in
is go to work at the soup kitchen in Allentown think about that you will be
Allentown think about that you will be
Allentown think about that you will be there to judge the quantity of food the
there to judge the quantity of food the
there to judge the quantity of food the quality of food you will be there to
quality of food you will be there to
quality of food you will be there to make sure that the people who come to
make sure that the people who come to
make sure that the people who come to the soup kitchen are treated with the
the soup kitchen are treated with the
the soup kitchen are treated with the respect that you would expect them to be
respect that you would expect them to be
respect that you would expect them to be treated okay if you think well I’ll
treated okay if you think well I’ll
treated okay if you think well I’ll create an institution to provide meals
create an institution to provide meals
create an institution to provide meals in San Francisco then you have the
in San Francisco then you have the
in San Francisco then you have the problem with the incentives in the
problem with the incentives in the
problem with the incentives in the institution the incentives of your salt
institution the incentives of your salt
institution the incentives of your salt by different and finally reversibility
by different and finally reversibility
by different and finally reversibility each generation has the responsibility
each generation has the responsibility
each generation has the responsibility of making sure that they haven’t closed
of making sure that they haven’t closed
of making sure that they haven’t closed the doors for future generation that you
the doors for future generation that you
the doors for future generation that you haven’t followed a policy which sounds
haven’t followed a policy which sounds
haven’t followed a policy which sounds like a great idea now but if it turns
like a great idea now but if it turns
like a great idea now but if it turns out to be a mistake in 30 or 60 years
out to be a mistake in 30 or 60 years
out to be a mistake in 30 or 60 years they won’t build reverse I guess what
they won’t build reverse I guess what
they won’t build reverse I guess what I’m asking for is is for humility is the
I’m asking for is is for humility is the
I’m asking for is is for humility is the is it ignorance good now ignorance is
is it ignorance good now ignorance is
is it ignorance good now ignorance is painful ignorance is painting but I
painful ignorance is painting but I
painful ignorance is painting but I think the greatest harm in this world is
think the greatest harm in this world is
think the greatest harm in this world is done by those who
done by those who
done by those who no doubt the greatest harm in this world
no doubt the greatest harm in this world
no doubt the greatest harm in this world is done by those people who who have no
is done by those people who who have no
is done by those people who who have no sense that they’re ignorant any study
sense that they’re ignorant any study
sense that they’re ignorant any study thank you
thank you
thank you [Applause]
”
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