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I hope it succeeds. john: have you bought some? >> i have not. [laughter] john: have you? i have. >> i'm dan, i go to community college and obamacare's first state of massachusetts, and i wonder if you guys believe there's, like, a better alternative to social spending such as food stamps and social security? >> the milton freed mapp had an idea, a negative income tax, basically, everybody has a guaranteed level of income, and it wouldn't have the same distortions the current welfare system has if this discourages work or marriage, for instance, and this level would be set low enough that peop...

Most of the public does, more people your age do. how many agree we should raise the minimum wage? [laughter] all right. well, you clear lier are libertarians. >> if you raise the minimum wage, you raise cost to employers of employing low skilled workers. when you raise the cost, you get less of it. simple as that. john: i want to hear from the students. what questions do you have for abby and john? take it away. >> okay, hi, i'm lauren clark from arizona state university. i'm currently studying journalism, so it's my dream to take over your show one day. john: please do. [laughter] >> my ques...

American exports or investment in america. it's normally not seen by the people who don't know economics, but it's real, and it helps america. john: more patriotic if i buy american stuff. >> no, no. when you buy american stuff for that sake, that means you are not employing resources as they should be employed. there's no reason you shouldn't choose the best deal you can find. that's patriotic. john: income inequality. the theme of the day, and it is gross that some people have so much more than others, shouldn't government try to even it out? >> government already does to a large extent so t...

Slow job creation. john: can you believe economic professors teach this stuff? >> i wonder if professor smith would double his teaching load if unc chopped the salary in half. i bet not. [laughter] john: there's a credit crisis, regulate the banks. you testified that dodd-frank is the cure. >> dodd-frank was passed in response to the financial crisis to protect consumers, but what we are seeing in practice is that consumers are having less access to credit and savings, and bank fees at record highs, and 3 million people shut out of the banking system. it's a law of unintended consequences. joh...