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Then you have major moral hazards. and the politicians do, too. >> are you referring to fanny and freddie? >> a lot of the europe european state-owned bank have a huge crisis. its the tip of the iceberg is the european financial and political crisis but underneath that is a huge banking crisis that hasnt fully been resolved and that was driven a lot by the german and london banks that allowed them to do stupid things. they were more leveraged than a lot of the bank and thats argument one and arg...

Maybe you like to work in your bath robe, maybe you dont. you would think thats the natural way that an economy would work. instetd, instead, economies have built these large corporations which were command and control and we have a lot to explain about that. and i think the insecurity was -- >> a lot of that was probably insecurity. its easier for people to contract out, easier for people to connect through online and things like that and thats pushing people towards the direction of working as...

Competition with a threat of this lawsuit but also youre making it very difficult for anybody else to invent something new. everybodys afraid. and thats no good for innovation. >> its providing the opposite of incentive. if the idea is to secure in limited turn and instead youre creating a situation in which if you invent something youre going to get your butt sued. >> right. >> its like literally the opposite. so what do we do about it? >> start over. seriously. think very seriously about softw...

Continue to happen is that much more quickly than people anticipated, when women get education, access to birth control and some autonomy over their lives and bodies, the birth rate really falls off the cliff. in mexico its amazing how quickly its happened. >> and hispanic-americans, right? >> yes, in the u.s. as well. and then theres the question of climate. can we, if we keep putting carbon in the atmosphere, and we can only put a fifth of the carbon and hope to make temperatures which i harp ...

Need to be thinking about what are the nonmarket institutions that replace it because labor markets dont function like other markets and if they do they end up screwing a lot of people and we have to think about what kind of collective enterprises, be if they are not a big firm, what are the big enterprises? what nonmarket activity can secure relative equity? saket soni, thank you for joining us. >> thanks, chris. the economy is growing again. that is a good thing. karl smith wants to talk abo...

Complicated. >> wipe out the software patents. and theres a controversial -- i are remember reading something about this, the business method patents. which is more bizarre. because coming up with a business method is the way capitalism work. you come up with a good business idea, thats what rewards you. i remember reading a case about a place that was selling cereal to college students and got a cease and desist order which had patented the business method of selling people bowls of cereal and ...

Of economic update and susan crawford, author of the book, "captive audience." great to have you here. >> great to be here. thanks so much. >> so since this is your area of expertise, lee start with you. is our i.p. regime a total disaster. >> this was a great idea at the outset, giving people a limited time in which they own it and exploit it. >> when you step through that logic a little more, why should the government grant -- i come up with an idea and the government grants me an exclusive mo...

>> caller: an economy, can capitalism grow infin nightly? more immediately we have this subset of that question which is can we keep burning fossil fuels and the answer is no. >> and theres a nonenvironmental aspect to this. >> yeah. there are a lot of things that are wrong with gross domestic product. bobby kennedy talked about it in 1968 in which i keep going back and finding these kennedy quotes. it says, if we judge the united states of america by that, it counts air pollution and cigarette ...

Problem worse and that lowers the return to investing in a heavy industry, that lowers the average real interest rate and the problem that they face is that the real interest rate is negative and that makes it difficult for us to achieve full employment. so youre making that problem harder by taxing carbon. >> so we dont have to have one -- >> i think thats totally wrong. >> when you have a low real interest rate, typically you get a lot of growth and a lot of employment. >> hes talking about a ...

This is not stock, not money given to owners. >> firms sitting on cash waiting to invest. they are waiting for cues. tacking them, taxing carbon would help give cues to drive investment into clean energy. another way -- >> they are very skeptical about clean energy. you also have to realize its a terrible investment for the past decade. this is not an easy problem. >> one of the problems is lack of markets. the government could do a lot to fix that by consuming clean energy and vehicles. the fed...