I think it's a waste of your minds, your creativity, because all of these crises - local weather change, the casino that's contemporary capitalism - all of those crises do demand solutions, do demand actions. When that disaster occurs, the actions which are taken depend on the ideas that are mendacity round. So we want better concepts mendacity around. I feel the Milton Friedman Institute is about preserving the usual ideas which were recycled so many times, that really make these public crises worse, ensuring that they're the ones which might be prepared and obtainable whenever the next crisis hits. And so you had this concatenation of occasions, economic, political and ideological, that just created this super crisis of leadership in the United States and an financial crisis at the same time. And I feel it can be so wonderful to have the sensible young economists of the University of Chicago - I don’t know if any of them bothered to return out tonight - however to have your minds at work assembly this disaster.

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