[Speaker 1]

that he talks all the time about how we should have individual property, and basically redistribution. Now what happens if I accumulate capital? What happens if I'm very successful at satisfying everybody else's needs? What happens if I then become a little richer than someone else? Does that mean that Professor Kleinman walks in with a big sword and says, you there, hand out your property?

Or where does this end? This is the... difference I think between us because you start somewhere either at midpoint or at the end and then you want to fix things. It goes back to the blueprintism that I talked about before. Whereas I start from the beginning and say okay so if if we have just acquisition of property then we will have a prosperous society, very likely, and it will be just if all the transactions are just.

That's a big difference between us. Another difference is Professor Kleinman starts with means of production. Where the hell did they come from? I talked about innovation. I talked about figuring out how to satisfy needs, creating machines, creating new tools that we're not certain will actually be all that helpful and productive in the future. Professor Kleinman talks about, let's redistribute the tools we have.

Well, where did they come from? If we start from the beginning. someone has to produce those tools. Someone has to figure out what tools are needed. Someone needs to figure out if those resources are used in a good way or a very wasteful way. Now, how do we know that? Well, this challenge was posed 96 years ago, as you know, by Mises, saying that there is no way you can calculate this without an actual market in the means of production.

But how can you have a market if you redistribute the means of production? How can... And if you, everybody has a right to their individual property, their own means of production that they need in order to survive, if I understand this correctly. Well, why would you then innovate? Where would that come from? See, this is a chicken and egg problem. We start with resources. We start with means of production, machines. Maybe we have a Boeing 747 and all these things.

Well, then we can redistribute those, sure. Where the heck did it come from? It didn't just spontaneously emerge from nothing. It was a result of lots of different transactions. So we need to ask those hard questions. Where do these things come from? And I'm not saying, of course, that. exactly what is produced today is a good thing. Absolutely not. I mean the trade deals that Professor Clyburn mentioned, I'm opposed to those as well, because those are managed trade.