{"@context":"http://iiif.io/api/presentation/3/context.json","id":"https://iastate.aviaryplatform.com/iiif/d50ft8f53s/manifest","type":"Manifest","label":{"en":["Galbraith, John Kenneth, The Industrial Society, What Is The Valid View?"]},"logo":"https://d9jk7wjtjpu5g.cloudfront.net/organizations/logo_images/000/000/004/original/ISULogo.png?1601681107","metadata":[{"label":{"en":["Preferred Citation"]},"value":{"en":["The Industrial Society What Is The Valid View. Iowa State University Lecture Series (RS 8/6/53). Special Collections and University Archives, Iowa State University Library, Ames, Iowa."]}},{"label":{"en":["Publisher"]},"value":{"en":["Iowa State University. Special Collections and University Archives"]}},{"label":{"en":["Rights Statement"]},"value":{"en":["There are no restrictions on access. (access)","This item is protected by copyright and/or related rights. 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back","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=58.47,60.59"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/13","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to Iowa occasionally to kinda","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=60.59,62.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/14","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"get his intellectual batteries 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it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=590.97,593.113"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/181","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But I'm going to leave this rather engaging line","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=594.74,597.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/182","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of thought aside and consider the issue of the 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the,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=610.24,615.015"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/185","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(clears throat)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=615.015,616.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/186","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"As it applies to the great modern 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Timmons","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=653.15,655.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/197","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that I happily exempt off Iowa state","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=655.61,659.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/198","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from any criticism as regards its 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institution","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=671.07,673.8"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/201","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I know that they would never be guilty of any","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=673.8,676.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/202","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the errors which I'm going to 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economists","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=685.489,688.68"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/207","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to think of the ultimate subject matter","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=688.68,690.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/208","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with which they deal in static terms.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=690.41,694.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/209","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Physics, chemistry, geology,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=694.64,697.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/210","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"all deal with a non changing subject 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added","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=703.48,706.42"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/213","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or as interpretation is revised","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=706.42,709.79"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/214","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and these we all agree are sciences","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=709.79,713.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/215","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it's the great desire of a great many economists","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=713.47,716.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/216","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to see their subject as a science too.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=716.86,720.03"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/217","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Accordingly and without much thought they hauled it","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=720.03,723.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/218","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"its ultimate subject matter is also fixed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=723.75,727.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/219","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Business firm, the market, the consumer,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=727.47,731.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/220","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"like the oxygen molecule or the geologists granite","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=731.62,734.82"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/221","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"are for all time.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=735.89,737.323"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/222","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Economists search quite avidly for new information","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=738.58,742.46"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/223","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but that information is then associated,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=742.46,745.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/224","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is then draped on a relatively fixed 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enterprise,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=756.54,761.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/227","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of labor relations or the market of the consumer","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=761.44,764.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/228","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or of the economic role of government.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=764.89,767.623"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/229","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm not here making an abstruse or theoretical point.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=768.84,772.653"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/230","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The first step toward a more valid perception","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=773.61,776.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/231","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the economic problem is an appreciation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=776.27,779.76"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/232","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the very high rate of change that has been occurring","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=779.76,782.66"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/233","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in basic economic institutions.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=782.66,785.34"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/234","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The large business corporation is the greatest","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=785.34,788.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/235","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of these instruments of change","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=788.95,790.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/236","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in consequence of the movement that it 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owners","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=943.3,946.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/281","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the motivation is also very simple and very straightforward.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=946.47,950.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/282","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It is to maximize the return to his 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output","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1030.01,1031.14"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/303","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that is the case of monopoly or oligopoly","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1032.52,1035.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/304","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but monopoly or the control of prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1036.6,1038.51"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/305","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and production in an industry by one firm","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1038.51,1041.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/306","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and oligopoly control by a few firms,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1041.6,1046.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/307","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is never the rule in this image.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1046.15,1048.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/308","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"These are always the exception.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1048.81,1051.82"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/309","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They are called imperfections in the system","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1051.82,1054.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/310","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and we use the word imperfection to affirm that monopoly","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1054.75,1058.98"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/311","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and oligopoly are exceptions to the general situation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1058.98,1063.98"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/312","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The image of economic society which I've just sketched,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1066.87,1070.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/313","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which I've ventured to think","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1070.29,1071.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/314","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"some of you will find not wholly unfamiliar","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1071.27,1075.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/315","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from your diligent reading of McConnell,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1075.61,1078.073"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/316","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I know that it's McConnell","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1082.635,1083.468"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/317","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because I autographed a copy of it this afternoon","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1083.468,1086.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/318","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by some rather advanced student who was","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1086.37,1091.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/319","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"under the impression that that was my name.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1091.47,1094.321"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/320","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience laughs)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1094.321,1097.154"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/321","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I didn't debate I just signed my name.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1098.75,1100.34"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/322","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The image of economic society","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1100.34,1103.71"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/323","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which I've just sketched is admirable proof also","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1103.71,1106.88"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/324","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the resistance of economics to change.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1106.88,1110.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/325","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The last 90 years the notion of oligopoly has been added","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1110.1,1114.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/326","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to that of monopoly in microeconomics.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1114.01,1117.103"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/327","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There is now in basic microeconomic instruction","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1118.05,1121.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/328","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"usually some bow to the modern great corporation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1121.61,1124.38"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/329","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and some reference to its public influence.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1124.38,1127.23"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/330","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Perhaps also to its managerial character.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1127.23,1130.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/331","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Otherwise this basic image of the economy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1130.61,1133.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/332","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the competitive entrepreneurial firm,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1133.15,1134.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/333","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the supremacy of the market","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1134.9,1136.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/334","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and this nasty exception of monopoly,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1136.6,1139.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/335","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is not different in the modern textbook","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1139.24,1141.56"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/336","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from that contained in Alfred Marshall's","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1141.56,1143.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/337","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Principles of Economics,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1143.49,1145.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/338","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which was first published in the year 1890.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1145.67,1149.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/339","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I may say this was the textbook,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1149.44,1151.23"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/340","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"massive thing to which I was first exposed","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1151.23,1154.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/341","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it was a very good textbook","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1154.4,1156.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/342","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for weeding out students of insufficient diligence.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1156.53,1159.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/343","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(clears throat)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1159.922,1160.755"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/344","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What you will wonder as you reflect","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1160.755,1163.02"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/345","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the extent of economic change in our time,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1163.02,1166.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/346","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is so static the view of basic economic arrangements","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1166.64,1169.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/347","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"can be valid and you're right to wonder.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1169.6,1173.46"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/348","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"For it's not valid.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1173.46,1175.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/349","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The image of economic structure that I've just described,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1175.24,1179.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/350","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and notice as I say,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1179.45,1181.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/351","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I venture to think we'll strike some familiar notes,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1181.04,1184.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/352","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"survives because of its social and political","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1184.36,1186.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/353","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and professional convenience","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1186.83,1188.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/354","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because it saves economist from inconvenient obsolescence","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1189.36,1192.85"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/355","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and ideas in textbooks","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1192.85,1194.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/356","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and because it serves the social and political 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so.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1201.81,1203.563"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/359","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The service of this accepted or textbook economics,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1204.91,1208.85"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/360","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the image I have just offered,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1208.85,1210.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/361","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the political needs of the business firm","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1210.77,1212.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/362","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in particular to the large corporation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1212.81,1215.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/363","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that service is in fact breathtaking.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1215.7,1219.72"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/364","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Very simply, it removes from the great corporation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1219.72,1222.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/365","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"all power to do wrong and leaves with it","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1222.95,1226.13"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/366","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"only the power to do right.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1226.13,1228.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/367","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You could hardly ask for more than that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1228.7,1231.66"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/368","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Are it's prices too high?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1231.66,1233.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/369","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well a corporation is blameless.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1233.65,1236.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/370","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Prices the accepted economics holes are set impersonally","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1236.15,1240.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/371","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by the market, not by the firm.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1240.3,1243.42"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/372","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Are profits too high?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1243.42,1245.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/373","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, they too are determined by prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1245.05,1246.72"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/374","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and costs which are externally determined","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1246.72,1249.5"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/375","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that's by the market.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1249.5,1251.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/376","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Are products preps deficient in safety,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1251.35,1253.26"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/377","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"durability, design or need?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1253.26,1255.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/378","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well the consumer is sovereign.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1255.75,1257.82"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/379","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Products reflect the way all of the sovereign consumer.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1257.82,1261.22"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/380","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You've heard that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1261.22,1262.223"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/381","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's adverse effect on the environment.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1263.23,1265.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/382","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This reflects the higher preference of people","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1265.16,1267.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/383","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the goods being produced","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1267.09,1268.97"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/384","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as opposed to the production of air,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1268.97,1270.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/385","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"water, landscape, or the tranquility of life.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1270.7,1273.483"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/386","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Is there criticism of the influence of corporations","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1275.49,1278.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/387","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the state?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1278.53,1279.433"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/388","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Say of the unique foreign policy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1280.44,1283.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/389","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the Lockheed corporation in Italy or Japan or Holland?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1283.19,1288.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/390","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, these can only be aberrations, accidents, exceptions","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1289.59,1294.59"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/391","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because the corporation like any citizen is subordinate","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1295.22,1298.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/392","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the state and it does not have public power of its own.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1298.81,1302.713"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/393","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You will see how great are the political","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1304.62,1306.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/394","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and social advantages of an image of economic life","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1306.89,1310.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/395","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which suppresses the power of the great corporation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1310.41,1314.8"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/396","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's not easy to think of the accepted economics","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1314.8,1317.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/397","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as being the handmaiden of politics.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1317.08,1319.233"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/398","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Most economists suppress the thought","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1320.27,1323.2"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/399","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it is innocently or otherwise.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1323.2,1325.923"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/400","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"However, self-delusion also has its cost.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1327.4,1331.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/401","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It conceals from us the way the economy really works","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1331.7,1336.406"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/402","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the things we need to do to make it work better","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1336.406,1339.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/403","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and people will not accept as valid an image","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1340.1,1343.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/404","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of modern society that makes the modern great corporation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1343.07,1347.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/405","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"General motors, IBM, Exxon helpless, passive instrument","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1347.35,1351.79"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/406","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of market forces, which makes it a force of minimal","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1351.79,1356.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/407","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and purely passive power in the state.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1356.01,1358.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/408","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is simply too deeply at odds with common sense.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1358.83,1363.26"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/409","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So people come to believe","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1363.26,1364.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/410","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that there must be something intrinsically deceptive","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1364.47,1367.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/411","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about the modern great corporation knowing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1367.9,1370.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/412","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that it's at odds with the case that is made for,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1370.57,1373.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/413","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or the case that explains it","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1373.65,1376.12"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/414","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I would argue that it is now better","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1377.56,1381.96"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/415","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and safer to have the truth.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1381.96,1384.193"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/416","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The valid image of the economic system is not","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1385.95,1388.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/417","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of a single entrepreneurial system,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1388.81,1392.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/418","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it is I have suggest of a double or a bimodal system.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1392.21,1396.383"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/419","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The two parts, the two halves","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1397.65,1399.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/420","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of this system are very different in structure,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1399.9,1404.22"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/421","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but oddly enough about equal in total production.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1404.22,1407.683"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/422","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In the United States, reflecting the force","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1408.56,1411.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/423","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the corporation for change in the last century,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1411.87,1414.383"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/424","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"around a thousand to 2000,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1415.22,1418.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/425","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the second thousand isn't terribly important","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1418.04,1419.94"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/426","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because it adds only marginally to the total,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1419.94,1422.303"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/427","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"contribute about half of all private economic product","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=1423.87,1427.54"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/428","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in some areas, the concentration is much 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several","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2092.46,2095.03"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/617","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the father is saying to the cretinous son,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2095.93,2099.363"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/618","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\"There are no longer great men my boy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2100.839,2103.56"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/619","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"only great committees.\"","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2103.56,2105.357"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/620","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience 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it","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2117.78,2120.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/625","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and thus we have the trade union.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2121.58,2124.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/626","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The union is the natural answer to the powerless","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2124.52,2128.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/627","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the powerless people to the power of the corporation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2128.19,2131.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/628","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and only in the rarest cases in the industrial 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law,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2155.69,2160.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/635","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"accountants to record and sometimes to improve earnings,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2161.3,2166.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/636","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"universities, colleges and business 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came","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2171.63,2176.14"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/639","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"into existence very largely as a result","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2176.14,2179.12"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/640","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the supreme enlightenment of the people of Iowa","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2179.12,2181.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/641","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it also came into existence at a time","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2181.81,2184.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/642","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when large scale enterprise increasingly needed the kind","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2184.47,2188.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/643","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of skilled and trained manpower which it provides","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2188.09,2192.74"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/644","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and which at least some of you hope you will 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individuals.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2200.05,2205.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/647","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Dealers to sell its products,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2207.8,2209.543"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/648","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"repairmen to advise that the products are beyond repair,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2210.66,2214.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/649","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so forth.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2214.45,2215.283"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/650","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Marx held that in the final stages of development","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2216.52,2221.0"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/651","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the capitalists firm devours the small entrepreneur,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2221.0,2224.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/652","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"well there may be still some of that devouring going on","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2224.25,2227.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/653","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it also nurtures and sustains a large number,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2227.41,2232.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/654","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a large penumbra of independent services","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2232.9,2236.757"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/655","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and these also have a certain voice","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2236.757,2240.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/656","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or anyway they have to be considered","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2240.25,2243.59"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/657","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the operations of the corporation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2243.59,2246.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/658","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They speak also for its interests.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2246.47,2250.297"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/659","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The test of our image of the economic system,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2252.24,2255.773"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/660","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to which I would like now if I may to turn,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2256.973,2260.2"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/661","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"shouldn't lie, I suggest, in it's political convenience,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2260.2,2263.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/662","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think any of you will believe 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truths.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2269.69,2274.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/665","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The test should be whether our image cords","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2274.49,2278.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/666","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with observed circumstance,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2278.36,2280.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/667","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"whether it accords with observed need.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2280.9,2283.183"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/668","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"First test I want to apply to the revised image","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2284.56,2287.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/669","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which I have just offered this bimodal image,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2287.08,2290.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/670","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"concerns the first problem of our time","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2290.01,2294.72"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/671","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is the first economic problem of our time","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2294.72,2298.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/672","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is this grim tendency for severe unemployment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2298.83,2303.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/673","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the modern industrial society to be combined","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2303.21,2306.42"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/674","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with severe persistent inflation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2306.42,2309.703"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/675","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Does the new image explain this?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2311.94,2314.573"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/676","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We should notice that given the established image,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2316.29,2320.46"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/677","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"competitive and entrepreneurial firms,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2320.46,2323.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/678","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this combination of unemployment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2323.93,2326.5"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/679","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and inflation can not occur.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2326.5,2329.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/680","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There can be in this image inflation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2329.7,2332.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/681","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but then by restricting bank lending,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2332.55,2334.94"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/682","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is monetary policy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2334.94,2336.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/683","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and by tightening the public budget which is fiscal policy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2336.84,2340.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/684","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's possible to contract the total demand for goods","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2340.89,2344.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/685","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and services in the economy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2344.07,2345.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/686","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and you will recall that no firm,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2346.47,2349.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/687","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"no business firm controls prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2349.17,2351.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/688","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so production is affected only as prices fall.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2351.92,2356.85"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/689","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It is falling prices that bring","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2356.85,2359.43"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/690","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the firm a message of declining demand.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2359.43,2363.063"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/691","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So in this image,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2364.35,2367.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/692","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as the very first effect prices fall,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2367.52,2370.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/693","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"level off or fall","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2370.84,2373.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/694","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is to say that inflation has come to an end.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2373.07,2376.383"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/695","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is a proposition which I think","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2377.5,2379.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/696","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that you will all find possible to accept","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2379.16,2381.56"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/697","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"without undue reflection.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2381.56,2383.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/698","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That is prices level off and fall.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2383.27,2387.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/699","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You do not have inflation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2387.01,2388.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/700","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's I think a proposition on a par","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2388.27,2390.51"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/701","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with one of the greatest observations of past presidents","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2390.51,2395.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/702","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is actually in his memoirs,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2395.24,2396.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/703","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I found it there once.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2396.92,2398.093"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/704","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Calvin Coolidge's great statement that","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2399.01,2400.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/705","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when many people are out of work unemployment results.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2400.87,2404.873"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/706","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience laughs)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2404.873,2407.706"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/707","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"After prices have fallen,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2409.34,2412.43"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/708","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is say after the inflation is over in this image,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2412.43,2417.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/709","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"production falling there may be unemployment,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2417.29,2421.923"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/710","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"probably will be but unemployment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2423.15,2425.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/711","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and inflation do not and cannot coexist","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2425.67,2430.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/712","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because the unemployment comes","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2430.52,2432.51"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/713","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because the prices have fallen.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2432.51,2434.193"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/714","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Similarly, if there is unemployment,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2436.0,2438.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/715","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"aggregate demand in the economy can be expanded","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2438.19,2440.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/716","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by monetary and fiscal action,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2440.77,2442.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/717","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by easier bank lending, more public expenditures","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2442.86,2445.42"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/718","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"lower taxes, the tax rebate,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2445.42,2448.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/719","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which I think quite wisely","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2448.24,2450.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/720","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"president Carter decided to abort.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2450.18,2455.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/721","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The initial effect is more sales, more jobs","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2459.58,2463.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/722","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as workers and plants are fully occupied.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2464.85,2468.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/723","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"As this is a competitive economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2468.15,2470.56"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/724","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"competition will at some stage drive up wages and prices.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2470.56,2475.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/725","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But this happens because people are relatively fully","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2475.18,2478.73"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/726","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"employed and because the economy is running","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2478.73,2483.23"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/727","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at or near capacity.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2483.23,2485.46"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/728","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Again, although one doesn't want to be completely dogmatic","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2485.46,2489.31"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/729","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about this, one does not have very much unemployment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2489.31,2492.98"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/730","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"until one does not have very much inflation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2495.42,2499.78"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/731","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"until the unemployed have been brought back into jobs.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2499.78,2503.993"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/732","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Again, one has unemployment or inflation but not both.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2505.98,2509.753"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/733","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In the bimodal image of the economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2511.09,2513.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/734","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a combination of inflation and unemployment must be expected","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2513.18,2517.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/735","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at least for so long as fiscal","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2517.9,2519.76"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/736","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and monetary policy are the sole instruments","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2519.76,2523.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/737","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of economic management.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2523.86,2525.313"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/738","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Trade unions as we have seen","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2526.53,2528.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/739","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"do have power in the corporate sector of the economy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2528.6,2531.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/740","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this diffusion process which I talked about.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2531.16,2533.613"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/741","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The corporation having power in its market","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2534.82,2538.46"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/742","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has the power to offset trade union concessions","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2538.46,2541.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/743","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in wages with higher prices.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2541.84,2544.763"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/744","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We have I think all noticed","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2546.27,2547.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/745","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that modern collective bargaining has lost much","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2547.83,2550.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/746","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of its old fashioned anger","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2550.49,2552.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/747","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and this has been for a very simple reason,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2552.61,2555.48"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/748","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as an alternative to confrontation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2555.48,2557.593"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/749","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"unions and management can now reach agreement,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2558.82,2561.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/750","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"pass the resolving costs on to the public.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2561.84,2564.213"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/751","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Oh, there's still some ceremonial exchange of insults","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2565.81,2569.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/752","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to remind us that the class struggle is not dead","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2569.17,2571.72"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/753","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but these are primarily to serve the nostalgic tendencies.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2571.72,2576.54"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/754","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Every time the principle tendency","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2576.54,2578.54"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/755","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of modern collective bargaining","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2578.54,2580.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/756","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is the Ford Motor Company said a few months ago","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2580.7,2583.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/757","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"just to find out what the union wants.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2583.07,2584.97"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/758","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience laughs)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2586.194,2587.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/759","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The complaint now comes almost exclusively from the public","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2587.18,2592.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/760","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"over the higher price that it has to pay","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2592.09,2594.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/761","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or from the government over the inflationary effect","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2594.45,2597.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/762","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the wage settlement.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2597.37,2598.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/763","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"When this wage price inflation is attacked","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2600.23,2603.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/764","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by the traditional methods,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2603.09,2604.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/765","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"monetary and budget restraint to reduce demand,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2604.49,2607.78"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/766","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"prices do not automatically fall.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2607.78,2611.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/767","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The firm has the power to maintain its prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2611.01,2614.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/768","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the first effect is on sales and employment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2614.17,2618.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/769","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and if unions continue to press for higher wages,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2618.62,2621.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/770","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the large corporation can continue to increase its prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2621.92,2625.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/771","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it does.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2626.24,2627.083"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/772","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Only when unemployment is very severe","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2628.08,2631.23"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/773","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as of so severe as to deter the unions","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2631.23,2633.68"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/774","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in pressing for wage increases and the corporations","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2633.68,2637.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/775","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from exercising their power to raise prices,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2637.05,2640.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/776","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"do the traditional monetary and fiscal measures","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2640.07,2642.72"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/777","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"does the traditional macro economics begin to bite.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2642.72,2645.943"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/778","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Meanwhile, unemployment and inflation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2647.09,2650.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/779","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as in fact, in the world today,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2650.08,2653.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/780","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"do co-exist.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2653.01,2655.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/781","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We suffer from both.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2655.04,2656.323"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/782","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Before a monetary and fiscal policy act","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2659.09,2661.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/783","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the corporate sector,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2661.08,2663.03"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/784","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"here I come to a point where of not no small","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2663.03,2666.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/785","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"local importance, they do work on the competitive","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2666.47,2669.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/786","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and entrepreneurial sector of the economy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2669.81,2672.68"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/787","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Here as before, prices do respond to monetary","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2672.68,2677.31"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/788","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and fiscal policies to restrain demand.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2677.31,2680.73"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/789","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So while inflation continues in the corporate","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2680.73,2682.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/790","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"half of the economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2682.84,2684.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/791","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're gonna be falling firm prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2684.45,2688.26"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/792","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and a painful recession in the entrepreneurial","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2688.26,2691.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/793","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and competitive sector","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2691.49,2692.91"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/794","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and this two accords fully with recent circumstance.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2693.97,2698.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/795","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Firm prices as everyone here knows","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2698.67,2701.91"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/796","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or should fell sharply in the recent recession.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2701.91,2705.933"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/797","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Industrial prices by contrast never stopped rising.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2707.0,2710.743"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/798","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Other entrepreneurial industries like agriculture,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2713.42,2716.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/799","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"housing being a very prominent example","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2716.87,2719.56"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/800","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"also had a very sharp recession.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2719.56,2722.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/801","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Housing output fell by around a third more seriously than","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2722.55,2727.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/802","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at any time since the great depression.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2727.08,2729.03"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/803","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"As I say at the same time prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2730.5,2732.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/804","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the industrial sector continued to rise.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2732.9,2737.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/805","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"All fits and all fits I would urge John","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2737.9,2742.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/806","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with particular relevance","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2742.64,2744.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/807","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for my fellow agricultural economist.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2744.32,2746.803"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/808","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The practical conclusion is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2748.67,2750.593"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/809","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think, that inflation can not now be arrested","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2751.63,2754.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/810","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by fiscal and monetary policy in the corporate sector","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2754.52,2758.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/811","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of my bimodal model,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2758.08,2760.38"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/812","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"unless there is willingness to accept","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2760.38,2763.03"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/813","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a very large amount of unemployment.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2763.03,2765.253"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/814","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This means that there's only one alternative","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2767.01,2769.51"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/815","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and that is to restrain incomes and prices,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2769.51,2773.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/816","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"not by unemployment but by some form of direct intervention,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2773.07,2777.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/817","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by some form of incomes and price policy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2777.53,2779.853"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/818","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Such action which I can't emphasize too strongly is only","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2780.89,2785.79"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/819","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in this sector where power is diffused","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2785.79,2788.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/820","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and wages act on prices and prices act on wages.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2788.33,2791.313"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/821","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Such action is not a substitute for orthodox monetary","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2792.4,2795.34"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/822","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and fiscal management,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2795.34,2797.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/823","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but an essential supplement to it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2797.09,2799.013"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/824","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's a further test here","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2801.23,2802.34"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/825","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the validity the image that I'm speaking of","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2802.34,2806.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/826","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for this is the direction in which I believe most industrial","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2806.01,2810.43"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/827","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"countries are moving","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2810.43,2811.43"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/828","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and against the advice of all the more reputable voices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2812.4,2816.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/829","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of conventional economics.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2816.35,2817.913"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/830","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In Germany, Austria, Switzerland, Scandinavia,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2818.76,2822.333"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/831","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"wage negotiation has been for many years not industry-wide","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2823.24,2828.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/832","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but confederation wide.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2829.26,2832.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/833","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Takes in the whole of the confederation of labor","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2832.1,2836.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/834","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in those countries and has been in accordance","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2836.17,2840.03"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/835","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with an implicit system of wage restraints,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2840.03,2843.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/836","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which calculates the effect of the wage increase","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2843.9,2846.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/837","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on prices and on including export prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2846.84,2851.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/838","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in Austria and Germany,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2851.97,2853.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/839","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this is supplemented by a strict compact that they,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2853.89,2858.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/840","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this restraint will not being negated","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2862.19,2865.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/841","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by the corporations taking advantage of it by higher prices.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2865.08,2869.963"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/842","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is the system which generally rules on the continent","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2872.29,2875.78"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/843","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"even in such countries as which are so often pictured","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2875.78,2880.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/844","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as paragons of free enterprise","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2880.67,2883.31"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/845","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as Germany and Switzerland.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2883.31,2885.053"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/846","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Britain has now of course,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2888.04,2889.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/847","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"a formal and comprehensive system","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2889.32,2892.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/848","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of income and price control.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2892.05,2894.0"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/849","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So also has Canada.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2894.0,2896.23"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/850","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"France and the PLANBAR has recently moved","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2896.23,2900.06"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/851","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the same direction","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2900.06,2901.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/852","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I would urge that no one risk his money","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2902.7,2906.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/853","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or his reputation for prophecy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2906.16,2908.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/854","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the proposition that the United States will not follow.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2908.83,2913.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/855","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If as the new administration promises,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2913.89,2917.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/856","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"unemployment is to be effectively reduced","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2917.36,2920.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/857","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there will have to be some form of control.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2920.57,2923.203"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/858","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Otherwise, as we move closer to full employment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2924.07,2927.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/859","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there will be much too serious inflation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2927.36,2931.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/860","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I venture to think that most of the effort","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2931.32,2933.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/861","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"will go into finding some other name for control.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2933.81,2937.863"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/862","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is a point on which we see","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2941.01,2945.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/863","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the intrinsically unhappy existence of the economist","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2945.17,2948.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/864","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and why the profession breeds","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2950.73,2953.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/865","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"such intrinsically gloomy character.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2953.67,2957.493"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/866","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One can have inflation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2959.1,2960.763"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/867","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, there are four possibilities in life really.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2961.7,2964.72"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/868","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One can have inflation, which is possible","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2964.72,2967.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/869","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it's a very unpleasant thing for people","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2967.87,2969.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/870","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who have made a contract with society","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2969.45,2971.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/871","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that their savings will take care","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2971.9,2973.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/872","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of them in their old age who have fixed incomes,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2973.33,2976.363"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/873","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"pensions, whose incomes do not rise readily with prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2977.44,2982.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/874","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and who suffer the pain of wondering whether,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2983.67,2985.88"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/875","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what their money will buy next time they go,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2985.88,2988.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/876","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"every time they go to the supermarket.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2988.4,2991.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/877","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We can have enough unemployment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2991.1,2992.88"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/878","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to arrest that inflation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2992.88,2995.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/879","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think it's very difficult to find anyone","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2995.36,2996.99"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/880","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the Republic who will vocally come out","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=2996.99,3000.12"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/881","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in favor of unemployment.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3000.12,3001.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/882","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, there are some","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3001.86,3003.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/883","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or we can have some system","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3003.63,3006.38"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/884","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the organized sector of the bimodal economy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3006.38,3010.677"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/885","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"where the wage spiral works to some system","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3013.41,3017.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/886","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of direct intervention to control the spiral.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3017.1,3021.283"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/887","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Those are the three possibilities.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3023.24,3024.94"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/888","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The fourth possibility as I've often said is to believe","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3025.9,3028.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/889","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that God is a Democrat and a member","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3028.87,3030.43"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/890","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the Buckingsons Institution.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3030.43,3032.393"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/891","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience laughs)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3032.393,3035.226"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/892","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They bimodal view of the industrial economy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3037.104,3039.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/893","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"also explains some other interesting phenomenon","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3039.53,3043.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/894","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of our time including the unequal development of the economy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3043.3,3048.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/895","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the measures that all governments","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3048.66,3050.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/896","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of all political complexion find themselves taking","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3050.41,3053.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/897","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to deal with this unequal development.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3053.65,3056.493"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/898","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The corporate half of the economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3057.37,3059.333"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/899","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"does most things rather well.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3060.64,3062.853"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/900","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is because it combines advanced organization","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3063.82,3067.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/901","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with high technical skills,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3067.45,3069.8"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/902","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"relatively ample capital from its own resources","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3069.8,3072.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/903","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with ability to persuade the consumer","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3073.76,3075.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/904","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the state as to their need for its products.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3075.65,3079.093"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/905","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In consequence, in all of the industrial countries,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3080.31,3083.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/906","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we take for granted automobiles, weapons,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3083.07,3087.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/907","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"household appliances, pharmaceuticals,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3087.01,3088.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/908","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"alcohol, tobacco, cosmetics, chemicals,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3088.83,3091.293"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/909","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"all the things that come from the highly","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3092.94,3097.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/910","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"organized sector of the economy will be amply supplied.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3097.41,3101.763"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/911","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The very notion of shortage inadequacy in these products,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3102.68,3107.68"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/912","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"what's strike us as distinctly odd.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3107.68,3110.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/913","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Our brief experience three years ago","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3110.95,3112.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/914","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with the oil embargo was deeply traumatic","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3112.81,3116.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/915","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and something which is still deeply affecting public policy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3116.01,3119.503"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/916","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Perhaps, I think why should they?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3121.33,3122.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/917","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Because I think there is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3122.7,3124.103"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/918","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I must say that I think that the statements,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3125.687,3130.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/919","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that the moves that the president made","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3130.15,3131.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/920","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the energy program are well considered wise perhaps","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3131.87,3136.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/921","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with some exaggeration as to the extent","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3136.61,3138.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/922","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of sacrifice that is involved,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3138.62,3140.393"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/923","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we must, I think all remember that as a nation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3141.6,3144.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/924","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we deeply love sacrifice as long as it involves no pain.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3144.35,3147.883"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/925","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience laughs)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3148.779,3151.2"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/926","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But in the competitive","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3151.2,3152.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/927","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and entrepreneurial sector of the economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3152.55,3155.003"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/928","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"organization is a much less advanced technology","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3156.09,3161.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/929","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the whole as much less advanced agriculture is something","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3161.76,3164.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/930","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of an exception but the technology","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3164.15,3166.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/931","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that agriculture uses came very largely from the state,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3166.47,3170.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/932","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"public institutions such as this,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3170.57,3172.97"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/933","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as well as from the large industries that serve agriculture.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3172.97,3176.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/934","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Capital is not so easy to come by and persuasion is absent","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3176.75,3181.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/935","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in these industries quite commonly,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3181.69,3186.14"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/936","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we assume inadequacy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3186.14,3188.423"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/937","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Housing is something which is inadequate","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3189.27,3192.12"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/938","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in all industrial countries","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3192.12,3193.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/939","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for people of middle income on down","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3193.45,3195.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/940","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as supplied by the market system.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3197.39,3199.613"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/941","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Healthcare likewise, point that I needn't develop.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3200.45,3205.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/942","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We have numerous recurrent complaints","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3205.99,3210.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/943","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about wide ranges of consumer services.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3210.3,3213.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/944","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They're part of our folk rights","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3213.36,3215.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/945","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in recent times and increasingly,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3216.15,3219.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/946","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"food supply has been a deep source of anxiety.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3219.41,3223.663"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/947","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The conventional economics has only one explanation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3224.73,3227.66"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/948","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for this unequal development.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3227.66,3229.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/949","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It reflects consumer choice.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3229.86,3232.78"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/950","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It reflects the will of the sovereign consumer,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3232.78,3237.51"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/951","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is to say that the consumer","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3237.51,3239.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/952","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or large numbers of consumers are unaware","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3239.33,3242.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/953","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of their needs for healthcare, for housing,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3242.17,3247.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/954","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for consumer services or for food","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3247.64,3251.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/955","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is to say that the conventional economics","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3251.09,3254.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/956","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"explains this unequal development","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3254.57,3257.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/957","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by saying that the consumer is insane.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3257.16,3260.193"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/958","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This really hard to believe","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3261.92,3264.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/959","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and not very flattering.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3264.33,3265.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/960","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The bimodal image of the economy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3267.46,3269.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/961","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"also serves our understanding of inequality","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3269.04,3271.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/962","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the modern economy and its consequences.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3271.92,3274.213"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/963","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In the conventional image of the economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3275.09,3278.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/964","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"inequality exists but it is the result","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3278.19,3282.38"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/965","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of differences only of talent, luck or choice of ancestors,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3282.38,3286.723"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/966","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and between occupations it is constantly being remedied","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3287.814,3292.5"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/967","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by movement from lower to higher income occupations.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3292.5,3295.793"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/968","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think anyone can have any doubt","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3297.0,3298.98"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/969","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that this remedy does operate","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3298.98,3300.43"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/970","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but it will only work if people are able easily to move.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3301.75,3306.633"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/971","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The corporate sector of the economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3307.9,3309.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/972","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"again deserves considerable approval more","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3309.44,3311.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/973","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than it receives for the income that it provides.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3311.64,3314.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/974","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think in the United States,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3314.44,3316.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/975","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that there's any union member with full-time employment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3316.32,3319.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/976","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the corporate half of the economy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3319.81,3322.2"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/977","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"whose income now falls appreciably below the poverty line","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3322.2,3325.88"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/978","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but there are grave barriers to movement into this sector.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3326.81,3331.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/979","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In particular, so long as inflation is the chief problem","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3331.4,3335.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/980","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and monetary and fiscal policy are the remedies,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3335.92,3339.06"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/981","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there will be unemployment in this sector as we have seen,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3339.06,3342.68"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/982","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"either chronic or recurrent","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3342.68,3344.8"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/983","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and if there is unemployment,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3344.8,3346.96"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/984","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there obviously can't be easy movement","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3346.96,3349.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/985","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of new workers into this sector.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3349.53,3352.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/986","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The old unemployed will always have the first 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diminishing.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3444.76,3446.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1013","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"A matter of fact, the increase after 1970","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3447.3,3452.127"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1014","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the share going to the very top income brackets,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3453.37,3456.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1015","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the upper 5% and the upper 20%,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3456.17,3459.237"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1016","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"was so spectacular that even the Nixon 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but,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3465.12,3467.616"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1019","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience laughs)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3467.616,3470.449"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1020","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They did and they wouldn't be published today","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3471.74,3475.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1021","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if Congressman Henry Reuss of Wisconsin","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3475.33,3477.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1022","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"hadn't noticed it forced them out.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3477.92,3480.373"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1023","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There are further tests of the image that I'm here offering.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3481.71,3485.733"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1024","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'd like to conclude by combining several into 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structure,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3493.27,3495.76"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1027","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"accepting and even nurturing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3495.76,3497.38"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1028","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the organized response of workers,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3497.38,3499.97"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1029","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the modern corporation does more than diffuse power.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3499.97,3503.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1030","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It is part of a long step not toward a class society,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3503.07,3507.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1031","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at least toward one in which the class lines","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3507.49,3510.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1032","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of consumption are extensively 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whoever.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3738.6,3741.923"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1105","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This as well as to the legislature.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3744.05,3746.653"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1106","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The also, the needs of the great corporation from the 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influential","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3755.41,3759.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1109","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and articulate sector of the population","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3759.3,3762.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1110","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and they have a way because they come","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3762.33,3765.22"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1111","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from the influential and reputable and articulate sector","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3765.22,3768.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1112","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the population of becoming the reputable public policy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3768.16,3772.403"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1113","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"No newspaper ever gets criticized for an editorial","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3773.55,3777.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1114","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which supports General Electric","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3777.44,3780.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1115","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on something that it is seeking in the way of tax reform.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3780.49,3783.34"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1116","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We've also had a recent, had a considerable education","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3784.86,3788.68"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1117","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"recent times and the way financial resources are deployed,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3788.68,3793.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1118","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"can be deployed for the purchase of politicians","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3793.16,3796.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1119","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and political influence","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3796.65,3798.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1120","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the corporation also competes with the state","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3799.05,3802.91"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1121","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the exercise of power of a purely public sort.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3802.91,3807.253"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1122","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mentioned Lockheed once before,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3808.14,3810.983"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1123","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in recent years the foreign policy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3812.14,3815.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1124","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the Northrop Corporation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3815.41,3816.597"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1125","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the Lockheed corporation have had at least","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3816.597,3820.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1126","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as much influence in destabilizing foreign politicians","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3820.86,3825.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1127","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than at least as effective as the similar operations","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3826.25,3829.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1128","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the CIA.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3829.55,3830.873"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1129","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I had occasion a few weeks ago to give a lecture","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3833.15,3837.07"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1130","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the mass staff of intelligence agencies in Washington","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3837.07,3841.22"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1131","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I made this point that I thought","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3841.22,3843.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1132","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the whole Lockheed had been more effective in.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=3843.1,3846.313"}]},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102","type":"AnnotationPage","label":{"en":["English [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30102/annotation/1133","type":"Annotation","motivation":"subtitling","body":{"type":"TextualBody","value":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/030/102/original/AV167956_a.vtt?1624899250","format":"text/vtt","language":"en"},"target":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/030/102/original/AV167956_a.vtt?1624899250"}]},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30103","type":"AnnotationPage","label":{"en":["AV167956_a.txt [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624/transcript/30103/annotation/1134","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"- Good evening and welcome to this evening's lecture. Is the microphone working all right? Yeah, I think it was about 12 or 14 years ago, Ken, after you returned from India from serving as US ambassador there. Since then, To give us return lecture, but without success until this evening. On this particular trip to Iowa and Dr. Galbraith claims that he has come back to Iowa occasionally to kinda get his intellectual batteries recharged and this is one of those occasions. This week, Dr. Galbraith has been lecturing at both Iowa city and Ames as SUI and Iowa state were able to schedule his lectures on two successive nights. Possibly this scheduling cooperation between ISU and SUI, might be suggestive and even useful to other entities at Iowa's two universities who are striving to schedule football games and concerts of various kinds. Dr. Galbraith was born in Ontario, Canada but has lived in the United States since receiving his baccalaureate degree from the University of Toronto in 1931. He received his PhD, the University of California. He has concentrated his talents and his energies over the years that he's been in this country since 1931 in three important arenas of activity and I should add action. Within the first arena of service, Dr. Galbraith is an outstanding teacher serving on the university staffs at California, Princeton and Harvard. He has been awarded honorary degrees by the universities of California, Michigan, Massachusetts and Brandeis in the United States, Toronto in Canada, Mysore in India, Cambridge and Durham in England, Louvain in Belgium and the University of Paris. Within the second arena of his activity, Dr. Galbraith has served the United States government with distinction as ambassador to India, as administrator of the Office of Price Administration sometimes called the OPA, which there aren't many in this room that may remember by those initials, it was during World War II and as director of the US Strategic Bombing Survey. He was awarded the coveted Medal of Freedom by president Truman. President Kennedy once described Dr. Galbraith as, \"My best ambassador.\" Prime Minister Nehru of India described Dr. Galbraith as a very able and brilliant man that served in his country. Now within the third arena of services, Dr. Galbraith is a prolific author. Sometimes controversial but always innovative, communicative and talented with over 20 major books published to his credit. His best known works, now this is a subjective judgment of course, at least to me, his best known works which have been read very widely in the United States and foreign countries include, American Capitalism, The Affluent Society, The New Industrial State and A China Passage. During the past three years, Dr. Galbraith has developed a 13 part television series for the BBC entitled, The Age of Uncertainty which is being televised by British television starting I believe it's May 19th, is it? May 19th. It is also to be broadcast over US Public Broadcasting System, PBS and also will be broadcast over the CBC in Canada. This year, his latest book entitled, The Age of Uncertainty is being published which expands and amplifies the ideas contained in the TV series. Dr. Galbraith told some of our students this afternoon at a seminar that he felt that this series was ample justification for college students to watch television. In between his other activities, Dr. Galbraith served two years as editor of Fortune magazine and as president of the American Economic association. He is a fellow in the National Institute of Arts and Letters and a member of many distinguished professional and service societies. Dr. Galbraith and his wife live in Cambridge, Massachusetts with part-time residences in Vermont and Switzerland. Switzerland particularly where he's done much of his writing. He is described by a friend, I presume it's a friend at least up until now, as an avid and competent skier and ranks close to former president Ford in this sport. I take great pleasure in presenting to you John Kenneth Galbraith, the Paul M. Warburg distinguished professor of economics emeritus at Harvard university who will speak to us on the topic, the industrial society, what is the valid view? Dr. Galbraith. Thank you very much, John. It's worth it I must say coming out to Iowa, not only bring peace to these two great educational institutions. As I gather to be comparable to a rapprochement between Northern Ireland and Southern Ireland. And, but also hear the marvelous way one can be introduced. I hate to supplement my introduction but I would like to remind everybody here that my degree from the University of California was in agricultural economics and I would like further to remind everybody that in case there's any notion as to what the priority of subjects here is at Iowa State University which I believe Gerry Ford referred to as Ohio State University, And I am going back to my old university day after tomorrow which is celebrating its 150th anniversary, University of Toronto and I went there. It was an extremely aristocratic and structured place. The people who studied Greek and Latin had by far the most prestige. After that, maybe English literature. In the professional schools, law and medicine took a very lofty attitude toward all of the other professions and I'm going back after 50 years, just 50 years since I showed up there. In reflection of the new priorities that obtain at the University of Toronto and I'm sure here at Iowa state and elsewhere in the civilized world, because I graduated in animal husbandry and my return for the 150th anniversary recognizes the final emergence of animal husbandry as the queen of the sciences. I take gathered from the applause that there are only two members of the, university. There are only two people at Ohio, at, I gathered from the applause that there are only two people here and two people at Ohio State still studying that subject. In my lecture this evening, I want to outline to you and I believe to be the valid image of the modern industrial society out of the advanced non socialist society the United States, Germany, Japan as distinct from the Soviet union or the Eastern European countries or China or the third world. I've long felt as some of you know that there are elements of convergence not to the market system, but to the use of the very large enterprise in both the Soviet union and in the Western industrial countries that where you have a very large task to perform you'll have the same broadly speaking organization to do it and that this stamps its character on the culture. That if you're going to make steel on the large scale you're going to have about the same organization in Gary Indiana as in Magnetar Gas or vice versa and that that organization is going to have an important influence in shaping the character of the communities where one finds it. But I'm going to leave this rather engaging line of thought aside and consider the issue of the structure of what we still call the capitalist countries and then go on to test this view for the, As it applies to the great modern tasks of managing inflation, unemployment and inequality on equal development and for assessing the role of government. To get the image of industrial society clearly in mind, one must at the outset I think, be sharply aware of two factors which act specifically to distort our view of economic society and which both have a damaging effect on economic construction. Although I hasten to say Professor Timmons that I happily exempt off Iowa state from any criticism as regards its teaching. I've always had a very close association with economists and agricultural economists of this institution and I know that they would never be guilty of any of the errors which I'm going to assign economists generally this evening. The first of these distorting factors is the very great desire of economists to think of the ultimate subject matter with which they deal in static terms. Physics, chemistry, geology, all deal with a non changing subject matter. What is known and taught about these subjects changes only as information is added or as interpretation is revised and these we all agree are sciences and it's the great desire of a great many economists to see their subject as a science too. Accordingly and without much thought they hauled it its ultimate subject matter is also fixed. Business firm, the market, the consumer, like the oxygen molecule or the geologists granite are for all time. Economists search quite avidly for new information but that information is then associated, is then draped on a relatively fixed view of what is the ultimate character of economic matter, relatively fixed view of the business enterprise, of labor relations or the market of the consumer or of the economic role of government. I'm not here making an abstruse or theoretical point. The first step toward a more valid perception of the economic problem is an appreciation of the very high rate of change that has been occurring in basic economic institutions. The large business corporation is the greatest of these instruments of change and in consequence of the movement that it initiates, there is a very rapid change in the nature of trade union organization and in the mood of collective bargaining and also in the class structure of modern economic society and among other things the increasing refusal of people to agree that because of occupation or race, they should be poor, they should have as a prescriptive characteristic of their occupation or race, lower standard of consumption and there's also been a rapid change in the services and responses of the modern state and the effect of these changes very simply is to make the economic knowledge that is valid in one generation, largely not completely but largely obsolete in the next generation and it makes also obsolete the prescription and policy that is based on unchanged knowledge. The second factor which distorts economic understanding is the very great social and political and professional convenience of a wrong image of economic society. I think I can best illustrate this abstraction as it too may seem, by proceeding to the structure of the modern industrial economy. The presently accepted image of the structure of the industrial economy, the textbook image as I can perhaps call it, is of numerous business firms distributed in each industry, all these firms subordinate to their market, to prices that they do not individually control and are subordinate ultimately to the instruction of the consumer. Being relatively numerous in their industry, the firms are competitive. Any tendency to overprice products is corrected by the undercutting of a competitor. These firms are also as we, as economists say, entrepreneurial, which is to say that they have a very simple command structure. Authority within the firm lies with the boss on whom overwhelmingly achievement depends. The entrepreneur or boss being the owner, the partial owner or the direct instrument of the owners the motivation is also very simple and very straightforward. It is to maximize the return to his effort, to his initiative and to his property, to make as much money as possible. To say that the firm is subordinate to the market and here I repeat, is to say that it submits to prices that it does not control. It is to say that decision originates with the consumer and this decision expressed through the market is sovereign and if the consumer has sovereign power the firm cannot have appreciable power. Those of you who've accomplished a really advanced course in formal logic will I think agree with me that you can't have two possessors of sovereign power. A business firm like any other citizen is also without organic power in the state. It can vote, petition the Congress or the executive and it can try to persuade, but it cannot dictate, dominate or compete in power with the government. There is one exception where the firm has influence over prices and output and that is the case of monopoly or oligopoly but monopoly or the control of prices and production in an industry by one firm and oligopoly control by a few firms, is never the rule in this image. These are always the exception. They are called imperfections in the system and we use the word imperfection to affirm that monopoly and oligopoly are exceptions to the general situation. The image of economic society which I've just sketched, which I've ventured to think some of you will find not wholly unfamiliar from your diligent reading of McConnell, I know that it's McConnell because I autographed a copy of it this afternoon by some rather advanced student who was under the impression that that was my name. I didn't debate I just signed my name. The image of economic society which I've just sketched is admirable proof also of the resistance of economics to change. The last 90 years the notion of oligopoly has been added to that of monopoly in microeconomics. There is now in basic microeconomic instruction usually some bow to the modern great corporation and some reference to its public influence. Perhaps also to its managerial character. Otherwise this basic image of the economy the competitive entrepreneurial firm, the supremacy of the market and this nasty exception of monopoly, is not different in the modern textbook from that contained in Alfred Marshall's Principles of Economics, which was first published in the year 1890. I may say this was the textbook, massive thing to which I was first exposed and it was a very good textbook for weeding out students of insufficient diligence. What you will wonder as you reflect on the extent of economic change in our time, is so static the view of basic economic arrangements can be valid and you're right to wonder. For it's not valid. The image of economic structure that I've just described, and notice as I say, I venture to think we'll strike some familiar notes, survives because of its social and political and professional convenience because it saves economist from inconvenient obsolescence and ideas in textbooks and because it serves the social and political purposes especially of modern corporate enterprise or is deemed to do so. The service of this accepted or textbook economics, the image I have just offered, to the political needs of the business firm and in particular to the large corporation, that service is in fact breathtaking. Very simply, it removes from the great corporation all power to do wrong and leaves with it only the power to do right. You could hardly ask for more than that. Are it's prices too high? Well a corporation is blameless. Prices the accepted economics holes are set impersonally by the market, not by the firm. Are profits too high? Well, they too are determined by prices and costs which are externally determined and that's by the market. Are products preps deficient in safety, durability, design or need? Well the consumer is sovereign. Products reflect the way all of the sovereign consumer. You've heard that. There's adverse effect on the environment. This reflects the higher preference of people for the goods being produced as opposed to the production of air, water, landscape, or the tranquility of life. Is there criticism of the influence of corporations on the state? Say of the unique foreign policy of the Lockheed corporation in Italy or Japan or Holland? Well, these can only be aberrations, accidents, exceptions because the corporation like any citizen is subordinate to the state and it does not have public power of its own. You will see how great are the political and social advantages of an image of economic life which suppresses the power of the great corporation. It's not easy to think of the accepted economics as being the handmaiden of politics. Most economists suppress the thought but it is innocently or otherwise. However, self-delusion also has its cost. It conceals from us the way the economy really works and the things we need to do to make it work better and people will not accept as valid an image of modern society that makes the modern great corporation, General motors, IBM, Exxon helpless, passive instrument of market forces, which makes it a force of minimal and purely passive power in the state. This is simply too deeply at odds with common sense. So people come to believe that there must be something intrinsically deceptive about the modern great corporation knowing that it's at odds with the case that is made for, or the case that explains it and I would argue that it is now better and safer to have the truth. The valid image of the economic system is not of a single entrepreneurial system, it is I have suggest of a double or a bimodal system. The two parts, the two halves of this system are very different in structure, but oddly enough about equal in total production. In the United States, reflecting the force of the corporation for change in the last century, around a thousand to 2000, the second thousand isn't terribly important because it adds only marginally to the total, contribute about half of all private economic product and in some areas, the concentration is much greater. In 1967, 200 manufacturing corporations out of a total of 200,000 shipped 42% of all manufactured goods by value and later manufacturing figures suggest an even greater concentration. About 50 banks in 1971 had a half of all assets, about 50 of the 1800 life insurance companies had 80% of all assets. Concentration has also been of course very great in communications, the telephone company, television, very high in all forms of transportation except over the road transportation and of course in power generation and even in retailing. This is the half of the economy, which is I say, embraces perhaps a hundred, a thousand to 2000 corporations. We can think of the small number, when one reflects that one could get the heads of the companies that produce half of everything that is produced and used in the United States pretty well into this auditorium, although they would present on the whole I think a rather more prosperous appearance than you do. Set against this concentrated half of the economy, is the disperse sector. This in the United States depending on how we, whether we define lawyers, doctors, chiropractors, cooperativeness, massage parlors and other enterprises of that sort as firms or not, are somewhere between 10 and 12 million small firms. These of course include agriculture, also service and professional enterprises, also construction firms, also real estate firms, also have a rapidly growing sector of the American economy, which unfortunately most of the economics profession is still unaware. Artistic enterprises, small traders, small retailers, these contribute the other half on the division and the other advanced industrial countries, Britain, Germany, Japan differs only in degree. The valid image of the modern economic society then is, of a more or less equal division of the production between a handful of large firms that are infinitely large and many small firms that are infinitely numerous or almost so and the coexistence of these two very different structures and the resulting economic behavior is a circumstance of the greatest importance. But first of all, before getting to that, I want to examine the corporate sector just a little bit more closely. The most obvious feature of the corporate half of the economy is the very great size of the participating units. In the United States by now a mere three or four great corporations. General Motors, Exxon, Ford, and at the very most a couple of others, have now sales equal to all of agriculture and with this huge size in turn we have the impact of the great corporation on the society and this impact has two aspects, two features. There is first the great concentration of market and public power that it, the great firm deploys and the second a curiously opposing force is the way in which this enterprise diffuses personal power makes it possible for people increasingly to exact their will in relation to aspects of its performance. I want to deal with, for a moment with each of these diverse tendencies as regards power. The modern large corporation unlike the entrepreneurial firm of the textbooks does have because of its scale and its markets an extensive influence over its prices and over its costs. It also supplies itself with capital from its own earnings. It also strongly influences the tastes and behavior of its consumers. Even economists looking at television have some difficulty concealing from themselves the impact of modern advertising although many still succeed and the great firm lives in the closest relationship with modern government. The government of course gives it its legal existence. The government is also a very large buyer of its products, weapons and other things. The government supplies in the manner of highways to the automobile industry, the services on which the sale of many of the products the great firm depend. It also establishes the environmental and other parameters governing the production of its products and the character of its products. Also an increasingly important function, the government is the safety net, the support price into which the firm falls or under which the firm falls in the event of difficulty. You might notice above a certain size, as the experience of the Lockheed Corporation which I mentioned a little while ago, numerous large American banks in the last couple of years, the Eastern railroads which we've just socialized in deep secrecy because nobody wanted to admit that this was done under a Republican administration, numerous firms abroad, Chrysler in Britain, British Leyland, Krupp in Germany, numerous firms that make up the eerie complex in Italy. The modern large corporation is no longer allowed to go out of business and modern socialism, which is expanding in all of the industrial countries is principally expanding as the result of the adoption by governments often reluctant governments, of these troubled or abandoned offspring of modern capitalism. Being so dependent in so many ways on the government, the corporation seeks power in the state. It probably has to, to survive and in any case, the impulse to do so is normal. This power like that to fix prices, to fix costs, is not plenary, it's exercised within limits but its existence can be denied only by people who are very carefully, very extensively trained in ignoring it. The corporation also distributes personal power within itself. The second half of this development on power. Once the owner or the capitalist, as I said, and this was true of the entrepreneurial firm, was the ultimate source of all authority. The modern corporation removes power from this ownership interest, from the stockholders and also from the board of directors as the representative of the stockholder interest. No member of the board of directors of General Motors, Exxon, IBM, who is not a practical member of the management and I speak very carefully here, has any influence on the operation of those companies. Most of these men represent the stockholders, who represent the ownership interests are aged, sometimes senile. They meet for a couple of hours, an incredibly complex matters, six times a year. Most of them reflecting a desperate fear of being found out and they do not make decisions. They ratify them. But as power passes from the owners and from the representatives of the owners to the management of the large firm, it is diffused. Nothing so criticized as an executive as to say that he, Delegate authority. Also decisions being socially and technically complex they become the shared responsibility of specialists. Each of whom possesses a certain slice of the requisite knowledge. They become the province of engineers, scientists, production men, marketing men, lawyers, accountants, tax specialists and so on. Power in other words, passes from individuals to groups to what I've called the techno structure of the modern corporation. Professor Timmons mentioned they, television enterprise with which I've been associated for the last several years and the section on that in which we deal with the corporation, we show a picture, we resurrected cartoon which I've always liked very much. Another old friend of mine, Charles Adams, whose drawings I think some of you will readily enough identify from The New Yorker, Charlie years ago did a marvelous drawing of a man of rather opulent appearance taking his son, a particularly cretinous youngster, the sort that Adams draws, on a walk down in front of the sub treasury building wall street, broad street where there are a number of statues, including the statue of Alexander Hamilton but on each of the statues on each of the basis, there is no longer one man but several and the father is saying to the cretinous son, \"There are no longer great men my boy, only great committees.\" Reflects a very important fact in the characteristic of the modern great enterprise. Finally where there is no participation in decision, there is organization to influence it and thus we have the trade union. The union is the natural answer to the powerless of the powerless people to the power of the corporation and only in the rarest cases in the industrial world is there a large where labor is not so organized. I should say that this diffusion of power really extends beyond the boundaries of the corporation for the corporation brings into existence a huge array of supporting professions and services. Law firms to advise it on and sometimes to bend the law, accountants to record and sometimes to improve earnings, universities, colleges and business schools to train its executives and specialists. This our great institution without question came into existence very largely as a result of the supreme enlightenment of the people of Iowa but it also came into existence at a time when large scale enterprise increasingly needed the kind of skilled and trained manpower which it provides and which at least some of you hope you will be in a position to offer at an advantageous salary and many other such supporting enterprises or individuals. Dealers to sell its products, repairmen to advise that the products are beyond repair, so forth. Marx held that in the final stages of development the capitalists firm devours the small entrepreneur, well there may be still some of that devouring going on but it also nurtures and sustains a large number, a large penumbra of independent services and these also have a certain voice or anyway they have to be considered in the operations of the corporation. They speak also for its interests. The test of our image of the economic system, to which I would like now if I may to turn, shouldn't lie, I suggest, in it's political convenience, I don't think any of you will believe that and it certainly should not if we're interested in analytically serviceable truths. The test should be whether our image cords with observed circumstance, whether it accords with observed need. First test I want to apply to the revised image which I have just offered this bimodal image, concerns the first problem of our time which is the first economic problem of our time which is this grim tendency for severe unemployment in the modern industrial society to be combined with severe persistent inflation. Does the new image explain this? We should notice that given the established image, competitive and entrepreneurial firms, this combination of unemployment and inflation can not occur. There can be in this image inflation but then by restricting bank lending, which is monetary policy and by tightening the public budget which is fiscal policy, it's possible to contract the total demand for goods and services in the economy and you will recall that no firm, no business firm controls prices so production is affected only as prices fall. It is falling prices that bring to the firm a message of declining demand. So in this image, as the very first effect prices fall, level off or fall which is to say that inflation has come to an end. This is a proposition which I think that you will all find possible to accept without undue reflection. That is prices level off and fall. You do not have inflation. It's I think a proposition on a par with one of the greatest observations of past presidents which is actually in his memoirs, I found it there once. Calvin Coolidge's great statement that when many people are out of work unemployment results. After prices have fallen, which is say after the inflation is over in this image, production falling there may be unemployment, probably will be but unemployment and inflation do not and cannot coexist because the unemployment comes because the prices have fallen. Similarly, if there is unemployment, aggregate demand in the economy can be expanded by monetary and fiscal action, by easier bank lending, more public expenditures lower taxes, the tax rebate, which I think quite wisely president Carter decided to abort. The initial effect is more sales, more jobs as workers and plants are fully occupied. As this is a competitive economy, competition will at some stage drive up wages and prices. But this happens because people are relatively fully employed and because the economy is running at or near capacity. Again, although one doesn't want to be completely dogmatic about this, one does not have very much unemployment until one does not have very much inflation until the unemployed have been brought back into jobs. Again, one has unemployment or inflation but not both. In the bimodal image of the economy, a combination of inflation and unemployment must be expected at least for so long as fiscal and monetary policy are the sole instruments of economic management. Trade unions as we have seen do have power in the corporate sector of the economy this diffusion process which I talked about. The corporation having power in its market has the power to offset trade union concessions in wages with higher prices. We have I think all noticed that modern collective bargaining has lost much of its old fashioned anger and this has been for a very simple reason, as an alternative to confrontation, unions and management can now reach agreement, pass the resolving costs on to the public. Oh, there's still some ceremonial exchange of insults to remind us that the class struggle is not dead but these are primarily to serve the nostalgic tendencies. Every time the principle tendency of modern collective bargaining is the Ford Motor Company said a few months ago just to find out what the union wants. The complaint now comes almost exclusively from the public over the higher price that it has to pay or from the government over the inflationary effect of the wage settlement. When this wage price inflation is attacked by the traditional methods, monetary and budget restraint to reduce demand, prices do not automatically fall. The firm has the power to maintain its prices and the first effect is on sales and employment and if unions continue to press for higher wages, the large corporation can continue to increase its prices and it does. Only when unemployment is very severe as of so severe as to deter the unions in pressing for wage increases and the corporations from exercising their power to raise prices, do the traditional monetary and fiscal measures does the traditional macro economics begin to bite. Meanwhile, unemployment and inflation, as in fact, in the world today, do co-exist. We suffer from both. Before a monetary and fiscal policy act on the corporate sector, here I come to a point where of not no small local importance, they do work on the competitive and entrepreneurial sector of the economy. Here as before, prices do respond to monetary and fiscal policies to restrain demand. So while inflation continues in the corporate half of the economy, they're gonna be falling firm prices and a painful recession in the entrepreneurial and competitive sector and this two accords fully with recent circumstance. Firm prices as everyone here knows or should fell sharply in the recent recession. Industrial prices by contrast never stopped rising. Other entrepreneurial industries like agriculture, housing being a very prominent example also had a very sharp recession. Housing output fell by around a third more seriously than at any time since the great depression. As I say at the same time prices in the industrial sector continued to rise. All fits and all fits I would urge John with particular relevance for my fellow agricultural economist. The practical conclusion is, I think, that inflation can not now be arrested by fiscal and monetary policy in the corporate sector of my bimodal model, unless there is willingness to accept a very large amount of unemployment. This means that there's only one alternative and that is to restrain incomes and prices, not by unemployment but by some form of direct intervention, by some form of incomes and price policy. Such action which I can't emphasize too strongly is only in this sector where power is diffused and wages act on prices and prices act on wages. Such action is not a substitute for orthodox monetary and fiscal management, but an essential supplement to it. There's a further test here of the validity the image that I'm speaking of for this is the direction in which I believe most industrial countries are moving and against the advice of all the more reputable voices of conventional economics. In Germany, Austria, Switzerland, Scandinavia, wage negotiation has been for many years not industry-wide but confederation wide. Takes in the whole of the confederation of labor in those countries and has been in accordance with an implicit system of wage restraints, which calculates the effect of the wage increase on prices and on including export prices and in Austria and Germany, this is supplemented by a strict compact that they, this restraint will not being negated by the corporations taking advantage of it by higher prices. This is the system which generally rules on the continent even in such countries as which are so often pictured as paragons of free enterprise as Germany and Switzerland. Britain has now of course, a formal and comprehensive system of income and price control. So also has Canada. France and the PLANBAR has recently moved in the same direction and I would urge that no one risk his money or his reputation for prophecy on the proposition that the United States will not follow. If as the new administration promises, unemployment is to be effectively reduced there will have to be some form of control. Otherwise, as we move closer to full employment there will be much too serious inflation. I venture to think that most of the effort will go into finding some other name for control. This is a point on which we see the intrinsically unhappy existence of the economist and why the profession breeds such intrinsically gloomy character. One can have inflation. Well, there are four possibilities in life really. One can have inflation, which is possible and it's a very unpleasant thing for people who have made a contract with society that their savings will take care of them in their old age who have fixed incomes, pensions, whose incomes do not rise readily with prices and who suffer the pain of wondering whether, what their money will buy next time they go, every time they go to the supermarket. We can have enough unemployment to arrest that inflation. I think it's very difficult to find anyone in the Republic who will vocally come out in favor of unemployment. Well, there are some or we can have some system in the organized sector of the bimodal economy where the wage spiral works to some system of direct intervention to control the spiral. Those are the three possibilities. The fourth possibility as I've often said is to believe that God is a Democrat and a member of the Buckingsons Institution. They bimodal view of the industrial economy also explains some other interesting phenomenon of our time including the unequal development of the economy and the measures that all governments of all political complexion find themselves taking to deal with this unequal development. The corporate half of the economy, does most things rather well. This is because it combines advanced organization with high technical skills, relatively ample capital from its own resources with ability to persuade the consumer and the state as to their need for its products. In consequence, in all of the industrial countries, we take for granted automobiles, weapons, household appliances, pharmaceuticals, alcohol, tobacco, cosmetics, chemicals, all the things that come from the highly organized sector of the economy will be amply supplied. The very notion of shortage inadequacy in these products, what's strike us as distinctly odd. Our brief experience three years ago with the oil embargo was deeply traumatic and something which is still deeply affecting public policy. Perhaps, I think why should they? Because I think there is, I must say that I think that the statements, that the moves that the president made on the energy program are well considered wise perhaps with some exaggeration as to the extent of sacrifice that is involved, we must, I think all remember that as a nation we deeply love sacrifice as long as it involves no pain. But in the competitive and entrepreneurial sector of the economy, organization is a much less advanced technology on the whole as much less advanced agriculture is something of an exception but the technology that agriculture uses came very largely from the state, public institutions such as this, as well as from the large industries that serve agriculture. Capital is not so easy to come by and persuasion is absent and in these industries quite commonly, we assume inadequacy. Housing is something which is inadequate in all industrial countries for people of middle income on down as supplied by the market system. Healthcare likewise, point that I needn't develop. We have numerous recurrent complaints about wide ranges of consumer services. They're part of our folk rights and in recent times and increasingly, food supply has been a deep source of anxiety. The conventional economics has only one explanation for this unequal development. It reflects consumer choice. It reflects the will of the sovereign consumer, which is to say that the consumer or large numbers of consumers are unaware of their needs for healthcare, for housing, for consumer services or for food which is to say that the conventional economics explains this unequal development by saying that the consumer is insane. This really hard to believe and not very flattering. The bimodal image of the economy also serves our understanding of inequality in the modern economy and its consequences. In the conventional image of the economy, inequality exists but it is the result of differences only of talent, luck or choice of ancestors, and between occupations it is constantly being remedied by movement from lower to higher income occupations. I don't think anyone can have any doubt that this remedy does operate but it will only work if people are able easily to move. The corporate sector of the economy, again deserves considerable approval more than it receives for the income that it provides. I don't think in the United States, that there's any union member with full-time employment in the corporate half of the economy whose income now falls appreciably below the poverty line but there are grave barriers to movement into this sector. In particular, so long as inflation is the chief problem and monetary and fiscal policy are the remedies, there will be unemployment in this sector as we have seen, either chronic or recurrent and if there is unemployment, there obviously can't be easy movement of new workers into this sector. The old unemployed will always have the first chance. In the entrepreneurial or small-scale sector by contrast, employment can often be found or maintained either by taking a lower self-employment return, this is the normal situation in agriculture, or possibly low pay in an industry that has no union. There is in other words, a continuing source of inequality here between the two sectors based on the occluded movement between them. This, I must, if I might digress for a moment it's not a total explanation of the problem of inequality and it's, I must say a problem that I think should be increasingly on our minds because in contrast with the hopes that many of my generation had in the years of World War II and after, when it seemed that inequality was decreasing. It is in fact, and has been in recent years, that inequality was decreasing. It has in recent years, been in fact increasing and increasing with a rather distressing rapidity. The share going to the upper 5% of income recipients has been increasing very rapidly. The share going to the upper 20% also and the share going for the same pro tanto for the people in the lower half of the income recipients has been for the same reasons diminishing. A matter of fact, the increase after 1970 in the share going to the very top income brackets, the upper 5% and the upper 20%, was so spectacular that even the Nixon administration had to take action. They'd stopped publishing those figures but, They did and they wouldn't be published today if Congressman Henry Reuss of Wisconsin hadn't noticed it forced them out. There are further tests of the image that I'm here offering. I'd like to conclude by combining several into one. In removing power from owners, diffusing it through the techno structure, accepting and even nurturing the organized response of workers, the modern corporation does more than diffuse power. It is part of a long step not toward a class society, at least toward one in which the class lines of consumption are extensively blurred. This point which I mentioned at the outset has a strong influence in turn on consumption patterns. There's no longer in the corporate sector of the economy any large group of people who feel that they were meant by the nature of their occupation to consume at some minimum level. The pressure in turn that they exert both for private goods and services and the requisite wages to supply those private goods and services is one source of inflation. The wage price spiral. Pressure also for such public services is education, healthcare, housing, the state provides in very large amounts. Urban services is another source. So and the thirst both for more private income and consumption, more public goods and services, which we see as the same ultimate source is equally strong and we see now that it is associated with the power, the power diffused by the corporation to make the claim effective. Accordingly to cut consumption of private goods through taxes or public goods through reduced public outlays, both of the old classic remedies for inflation is very difficult. So also is the resistance of course, to direct intervention on wages and prices on the wage half of that intervention. So the bimodal image of economic society tells us of new budget pressures with inflationary effect, new budget pressures both private and public, as well as the new sources of inflation in the wage price spiral and it tells us a good deal as to why control has become so difficult. Finally, the image of the economy here offered explains the new tensions in the relationship between economic institutions and the state. A competitive and entrepreneurial firm seeks services from the state. There's no question about that. It seeks the many services that are supplied for example, to agriculture, seeks protection from foreign competition, it's subject to regulation and seeks favorable action from the state on that, subject to taxes and is concerned with its own interest on that. But all of this is a familiar and also a limited relationship. The entrepreneurial firm by itself or through its organization, never competes with the state and the exercise of power and it never overrides the state in its exercise of power. The modern large corporation in contrast with its wide range of requirements from the state, a much wider range of requirements I think, unbalanced than the entrepreneurial sector, although much less publicized, brings its power directly to bear on the instrumentalities of the state on both the bureaucracy and the legislature, the individual farmer or even the individual leader of a firm organization does not have automatic access to his legislator or to the executive or if he does, it is a relatively limited one. Head of General Motors, General Electric, General Mills, General Dynamics, any of the other generals, has automatic access to the secretary of defense, the secretary of state or whoever. This as well as to the legislature. The also, the needs of the great corporation from the state. Since they are put forward by the techno structure by the management are put forward by the most influential and articulate sector of the population and they have a way because they come from the influential and reputable and articulate sector of the population of becoming the reputable public policy. No newspaper ever gets criticized for an editorial which supports General Electric on something that it is seeking in the way of tax reform. We've also had a recent, had a considerable education recent times and the way financial resources are deployed, can be deployed for the purchase of politicians and political influence and the corporation also competes with the state in the exercise of power of a purely public sort. I mentioned Lockheed once before, in recent years the foreign policy of the Northrop Corporation and the Lockheed corporation have had at least as much influence in destabilizing foreign politicians than at least as effective as the similar operations of the CIA. I had occasion a few weeks ago to give a lecture to the mass staff of intelligence agencies in Washington and I made this point that I thought on the whole Lockheed had been more effective in.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118624#t=0.0,3851.808"}]}]},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625","type":"Canvas","label":{"en":["Media File 2 of 2 - AV167956_b.mp3"]},"duration":1889.448,"width":640,"height":40,"thumbnail":[{"id":"https://d9jk7wjtjpu5g.cloudfront.net/collection_resource_files/thumbnails/000/118/625/small/lecture.png?1624899254","type":"Image","format":"image/png"}],"items":[{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/content/1","type":"AnnotationPage","items":[{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/content/2/annotation/1","type":"Annotation","motivation":"painting","body":{"id":"https://aviary-p-iastate.s3.wasabisys.com/collection_resource_files/resource_files/000/118/625/original/AV167956_b.mp3?1624899254","type":"Audio","format":"audio/mpeg","duration":1889.448,"width":640,"height":40},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625","metadata":[]}]}],"annotations":[{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104","type":"AnnotationPage","label":{"en":["AV167956_b.vtt [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/1","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e Effective in destabilizing operations with the CIA.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=6.58,10.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/2","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Although with the difference that it worked more","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=10.6,12.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/3","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on friendly governments.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=12.36,13.693"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/4","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I rather expected that somebody in the audience","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=15.99,18.0"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/5","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"would take umbrage deny this slight.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=18.0,22.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/6","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Nobody did.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=22.3,23.133"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/7","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"My point, I think, was on the whole accepted.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=24.92,27.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/8","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"No one doubts that the oil companies conduct a policy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=27.87,31.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/9","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the middle of the East.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=31.01,32.31"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/10","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=33.272,35.689"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/11","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But many people believe that General Motors","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=40.01,41.88"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/12","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"had considerably more to do","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=41.88,43.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/13","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with setting,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=43.86,44.968"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/14","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=44.968,45.801"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/15","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"mass transportation in recent times","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=45.801,47.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/16","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the United States government.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=47.77,49.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/17","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"These tensions and this exercise of power.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=50.555,54.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/18","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"These are great and important facts of life.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=54.17,56.923"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/19","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"As with inflation and unemployment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=58.15,60.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/20","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this unequal development, which I described, inequality.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=60.93,65.56"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/21","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"We presently deal with this corporate power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=65.56,69.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/22","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by resort to an image of industrial society,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=69.3,72.28"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/23","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which holds that it does not exist, can't happen,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=72.28,76.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/24","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or which holds that if it does exist,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=76.63,79.34"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/25","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it is an aberration, an accident.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=79.34,81.453"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/26","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is unconvincing to the average citizen","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=82.3,87.06"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/27","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"who aren't like advanced graduate student","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=88.55,93.0"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/28","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in economics who's not adequately trained in illusion.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=93.0,97.203"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/29","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It precludes effective diagnosis","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=100.6,103.56"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/30","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and it precludes effective remedial action.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=103.56,106.563"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/31","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"My case is simply that it would now be safer","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=107.95,111.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/32","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and wiser, more conservative","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=111.29,113.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/33","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as well as intellectually more rewarding,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=113.9,116.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/34","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to accept the reality.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=116.86,118.343"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/35","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There is power.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=119.18,120.403"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/36","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Let us accept the fact","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=121.53,123.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/37","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that in this sector of the economy, power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=123.36,125.71"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/38","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is exercised as we accept the other facts","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=125.71,129.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/39","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the bi-modal system.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=129.15,130.553"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/40","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And then we need to consider","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=131.46,133.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/41","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"whether the exercise of power is as on occasion,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=133.25,136.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/42","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it may be, as occasion I believe it is, useful","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=136.63,140.48"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/43","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and directed to social ends,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=140.48,143.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/44","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or whether it is directed to ends that are not consistent","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=143.75,148.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/45","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with the purposes of society.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=149.93,152.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/46","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In which case it needs to be brought","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=152.18,154.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/47","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"within the parameters that are consistent","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=154.77,158.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/48","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with the purposes of society.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=158.05,159.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/49","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And our social policy then becomes extensively concerned","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=159.9,164.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/50","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with making that decision","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=165.11,168.46"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/51","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and making that decision effective.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=169.37,171.973"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/52","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is I say, as I think the point","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=172.85,175.96"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/53","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at which we have now come","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=175.96,177.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/54","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I devoutly hope","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=177.83,180.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/55","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that I have brought you all to that point, too.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=180.32,183.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/56","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Thank you very much.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=183.62,184.94"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/57","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(Audience applauding)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=184.94,188.107"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/58","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e Well, Ken, I've never received that kind","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=216.6,219.2"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/59","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of applause after any lecture I've ever given","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=219.2,221.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/60","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in a class here at Iowa state.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=221.45,222.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/61","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So it speaks pretty much for the audience.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=224.12,226.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/62","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In tradition with our speakers at the campus here,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=226.81,231.323"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/63","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we asked the speakers if they would be willing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=233.42,235.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/64","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to answer questions and to dialogue with the audience there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=235.63,240.46"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/65","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So if there are any points that you'd like to question","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=240.46,244.23"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/66","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or you'd like to get some free information","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=244.23,246.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/67","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"from Dr. Galbraith, now's the time to do so.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=246.65,251.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/68","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And Ken if you're willing if you'll just come up here","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=251.53,254.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/69","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and field the questions yourself you can answer them","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=254.67,257.42"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/70","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as long as you have,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=257.42,259.22"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/71","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"until your next obligation begins tonight.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=259.22,261.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/72","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Or until you run into a question that you can't answer","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=261.55,264.06"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/73","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and I'll bail you out at that time, okay.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=264.06,266.361"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/74","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(Audience laughing)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=266.361,269.361"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/75","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e Maybe I'll get you to speak very loud.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=272.34,274.403"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/76","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So you'll have to stand up.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=275.546,276.896"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/77","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=278.597,281.014"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/78","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Must say, that's an extremely important question.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=294.11,295.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/79","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I should repeat it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=295.53,296.48"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/80","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Something I should have covered in my lecture.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=297.69,300.02"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/81","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There are limits, however to what you can do","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=300.02,301.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/82","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in two hours, which that must've seemed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=301.63,305.287"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/83","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience laughing)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=305.287,308.287"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/84","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What about breaking up the big corporations?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=309.61,311.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/85","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"What about rehabilitating the entrepreneurial half?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=311.47,315.273"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/86","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is an established, an old liberal solution.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=316.63,320.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/87","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I've long since abandoned it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=320.37,322.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/88","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think it's inconsistent with a broad current of history.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=322.9,327.503"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/89","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think we, for large tasks, which we seem","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=329.98,334.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/90","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to want done we're going to continue","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=334.01,335.22"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/91","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to want the large corporations.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=335.22,336.793"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/92","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think we could, they may be larger than they need to be","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=337.77,341.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/93","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in more fields than they need to be.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=341.77,343.803"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/94","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I'm very much afraid that we could spend","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=345.02,346.5"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/95","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"an enormous amount of energy for example,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=346.5,348.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/96","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in breaking up the oil companies now","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=348.27,350.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/97","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and have only a somewhat more complex oligopoly rather","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=350.32,355.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/98","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than anything that is very new,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=355.05,357.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/99","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that was what happened","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=357.32,358.28"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/100","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when this old Standard Oil Company was broken up.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=358.28,360.73"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/101","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And in any case, we've had the antitrust laws","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=361.61,365.31"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/102","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the books for 18, forever since 1890.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=365.31,368.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/103","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Having an enormously complex legal structure,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=368.93,372.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/104","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"marvelously remunerative to the lawyers on both sides.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=372.21,375.053"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/105","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If anything were going to happen along these lines","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=376.42,379.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/106","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm on ease meal of the opinion","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=379.33,381.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/107","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that it would have happened before now.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=381.95,384.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/108","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I also in a way think the antitrust laws are slight menace","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=384.05,387.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/109","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because they give liberal politicians","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=387.92,390.78"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/110","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when they're completely devoid of all other thought,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=390.78,393.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/111","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the one great excuse.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=393.35,395.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/112","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They can pound themselves in the chest","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=395.27,397.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/113","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and say let's enforce the antitrust laws.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=397.04,399.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/114","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And sometimes they can even believe themselves","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=399.27,401.12"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/115","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they've said something.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=401.12,402.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/116","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You in the bright red shirt there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=410.26,413.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/117","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You'll have to stand up.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=413.9,415.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/118","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=416.841,419.258"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/119","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, this is another question","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=441.79,444.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/120","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which was very much to the point.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=444.9,447.03"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/121","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Could I rephrase it?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=447.03,447.98"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/122","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Which I think I might.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=447.98,450.053"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/123","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Hasn't growth eased this tension","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=451.0,455.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/124","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that's between labor and management?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=455.44,457.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/125","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And one had become greater again,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=457.61,460.39"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/126","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if for reasons of energy supply","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=460.39,462.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/127","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or otherwise growth tapers off.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=462.49,465.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/128","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That an adequate paraphrase?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=465.21,468.293"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/129","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's no question that my mind at least","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=470.19,474.14"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/130","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that growth in the past","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=474.14,476.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/131","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has been a great solvent for say social tension.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=476.81,480.513"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/132","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's one of the reasons that we've been able","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=482.24,483.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/133","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to talk so much about sacrifice","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=483.57,484.98"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/134","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"without ever experiencing any.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=484.98,486.48"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/135","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"People compare their position in one year","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=489.87,493.85"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/136","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with their position the year before.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=493.85,495.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/137","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And if a substantial number find it improved","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=495.35,497.88"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/138","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they don't compare their position with somebody else.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=497.88,500.97"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/139","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And this has been the way","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=500.97,501.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/140","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in which growth has eased social tension.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=501.89,505.083"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/141","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I don't think incidentally","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=507.27,509.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/142","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that we should lose that solvent any sooner","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=509.44,511.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/143","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than we need to.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=511.95,514.13"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/144","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think I was perhaps one, 20 years ago, one of","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=514.13,516.79"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/145","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the first people to raise in a serious and extended way,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=516.79,521.79"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/146","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the argument that we needed to bounce growth","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=523.65,526.68"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/147","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"against other social costs including","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=526.68,529.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/148","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"those to the environment.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=529.36,531.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/149","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I remember John one of coming","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=531.25,533.05"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/150","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at a very early stage when I was working","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=533.05,534.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/151","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the affluent society to aims to make that argument.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=534.86,538.213"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/152","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I think I'm safe in saying","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=540.132,541.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/153","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that such lingering reputation as I have","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=541.3,543.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/154","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as a Bolshevist goes back to those times","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=543.93,546.12"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/155","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when I questioned the sacred goal","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=546.12,550.847"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/156","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of maximum growth as a goal in itself.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=552.32,556.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/157","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But I also feel,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=556.86,560.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/158","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but since my instinct is reformist rather","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=560.15,564.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/159","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than revolutionary,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=564.63,565.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/160","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that we need to preserve this solvent in the system,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=565.92,570.493"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/161","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as long as possible.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=571.33,573.42"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/162","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I think with you that if that did not exist","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=573.42,578.38"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/163","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then the clash over who gets the existing revenue,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=579.32,582.82"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/164","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"since there will not be anymore","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=582.82,584.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/165","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"now it will become more acute.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=584.95,587.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/166","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And I'm inclined to think that your case,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=587.61,590.163"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/167","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which I accept,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=591.06,592.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/168","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which I extend by implication that's with declining growth,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=592.4,597.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/169","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"there could be some more assertive in collective bargaining.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=597.97,602.97"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/170","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"More competition for who gets what","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=604.36,606.91"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/171","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this could become sharper may be right.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=608.03,610.933"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/172","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It could also manifest itself in a still continuing passing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=611.78,616.46"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/173","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on of costs and a more rapid rate of inflation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=616.46,619.58"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/174","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or a more difficult problem in controlling inflation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=619.58,622.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/175","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I rather think it might be that most of all.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=622.52,626.223"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/176","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I say parenthetically, I don't think the ,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=629.02,631.34"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/177","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think the inflation for the energy supply is","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=633.366,634.22"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/178","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"going to be decisive for growth for some time.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=634.22,638.803"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/179","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The question is how do you answer the charge that,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=665.643,670.26"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/180","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"if you intervene on prices and on wages you damage","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=670.26,674.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/181","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the allocation of resources.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=674.86,676.263"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/182","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Let me note that I only suggest this","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=679.42,683.0"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/183","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for the organized sector of the economy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=683.0,685.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/184","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I would not intervene where the market works.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=685.52,687.883"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/185","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"In other words, I wouldn't intervene","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=688.72,689.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/186","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"where the market now allocates resources.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=689.93,692.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/187","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I would only intervene where resources are now allocated","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=692.1,696.66"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/188","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by the power of the corporations","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=696.66,698.23"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/189","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in some measure also","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=698.23,699.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/190","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by the power of the collective bargaining process.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=699.17,702.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/191","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So you're only if you wanna put it this way,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=702.15,706.063"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/192","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"substituting one form of non-market allocation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=707.73,711.02"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/193","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for another form of non-market allocation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=711.02,715.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/194","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You're only fixing prices.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=715.4,717.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/195","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If you wish to put it in","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=717.21,718.38"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/196","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the bluntest possible way that are already fixed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=718.38,721.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/197","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You're only fixing wages that are already fixed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=721.37,724.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/198","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Are they, this is a very important point","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=724.16,727.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/199","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that they friends of the market,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=727.93,732.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/200","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the defenders of the free market","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=733.47,735.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/201","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"out of either innocence or purpose,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=739.03,741.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/202","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"always assume away General Motors and General Electric","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=741.81,744.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/203","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and Exxon and the big corporations","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=744.87,746.96"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/204","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which have already taken over the market.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=746.96,749.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/205","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And they also assume away unions","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=749.61,750.94"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/206","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to a very substantial degree.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=750.94,752.633"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/207","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If we had a market economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=757.018,759.12"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/208","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I certainly wouldn't be talking","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=762.72,764.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/209","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"about the problems of intervention,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=765.15,768.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/210","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because as I indicated in my remarks,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=768.44,770.853"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/211","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the need for them wouldn't exist.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=771.8,773.583"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/212","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I started,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=775.5,776.333"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/213","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't react to the problem","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=780.54,781.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/214","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of intervention with any great enthusiasm","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=781.87,784.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/215","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because as John Timmons said I'm perhaps","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=784.7,789.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/216","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the last surviving person","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=790.08,795.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/217","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with a really hair-raising experience","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=795.25,799.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/218","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with the whole task of running controls","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=799.77,802.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/219","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and this was a dangerous thing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=805.09,806.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/220","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for somebody to have undertaken at a tender age.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=806.89,810.943"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/221","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I had the feeling that if anybody left your office smiling","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=812.63,815.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/222","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that you had done a bad job.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=815.93,817.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/223","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I've never wanted to see anybody smile since.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=817.15,819.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/224","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Permanent damaging effect on one's character.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=822.1,825.133"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/225","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But after the war was over reflecting","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=826.09,830.247"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/226","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the experience and writing about it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=831.11,834.12"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/227","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I laid down on a law, which I believe to be valid,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=834.12,839.12"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/228","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which is that it isn't terribly difficult","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=839.94,841.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/229","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to fix prices that are already fixed.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=841.64,843.593"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/230","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"95%, 90% of the problems","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=844.52,847.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/231","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the office of price administration,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=847.18,848.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/232","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or in the entrepreneurial sector of the economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=848.92,851.51"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/233","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which under the exigencies of war","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=851.51,853.38"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/234","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we had also to fix","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=856.45,857.54"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/235","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because we had also to ration.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=857.54,859.083"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/236","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But the problems of dealing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=860.29,863.39"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/237","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with steel prices, chemical prices","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=863.39,865.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/238","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"those things are infinitely easy as compared","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=865.6,869.97"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/239","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with, well I must say,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=869.97,871.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/240","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as compared with livestock prices, John.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=871.52,873.589"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/241","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I left Washington after the war determined","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=873.589,876.17"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/242","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to be a vegetarian for the rest of my life.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=876.17,878.758"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/243","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience laughing)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=878.758,879.591"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/244","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I can tell you, it takes only a very few cattlemen","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=879.591,881.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/245","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in Washington to keep you from feeling lonesome.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=881.1,883.5"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/246","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You and then I'll try to go back deeper into the.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=889.076,893.159"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/247","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm sorry. I missed that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=898.09,899.34"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/248","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Oh I don't think it does really.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=904.21,907.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/249","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The question is","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=907.01,907.843"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/250","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"at what point does high taxation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=907.843,909.13"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/251","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"become a stimulus to inflation?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=909.13,911.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/252","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's no question that, well, for example","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=911.1,913.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/253","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"let's increase in gasoline prices,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=913.62,918.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/254","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the increase in the OPEC prices adds","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=918.87,922.31"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/255","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the price increase.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=922.31,923.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/256","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The problem of inflation is always a process.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=923.81,926.443"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/257","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And one thing building on another.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=927.55,931.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/258","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And one should not confuse something","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=931.36,934.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/259","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"like the wage-price spiral","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=934.64,935.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/260","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which has this persistent and continuing effect.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=935.86,939.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/261","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"With the one-time effects of say a tax increase?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=939.47,942.51"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/262","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And of course, the effect of a tax increase","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=942.51,945.988"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/263","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on demand, tax increase of it, reduces the deficit.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=945.988,949.99"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/264","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If it reduces the total of aggregate spending","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=949.99,953.29"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/265","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"can in fact be deflationary.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=953.29,956.283"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/266","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now I must go to the back of the room,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=957.84,959.47"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/267","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"anybody at the back that I've,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=959.47,960.97"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/268","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we want to encourage everybody coming to lectures","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=962.65,965.78"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/269","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to come down to the front row.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=965.78,967.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/270","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Here. Yes.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=967.7,968.533"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/271","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You better stand up.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=970.54,971.54"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/272","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Soy beans.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1001.688,1003.263"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/273","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience applauding)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1003.263,1006.43"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/274","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You see a danger emerging for,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1020.077,1023.03"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/275","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I missed a word or two there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1023.03,1024.653"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/276","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The question is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1036.977,1037.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/277","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is there a dangerous attitude","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1037.81,1040.42"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/278","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or an erroneous attitude","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1040.42,1042.096"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/279","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the part of the public","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1042.096,1043.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/280","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in equating economic success with the supply of energy?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1043.41,1046.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/281","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Is that a fair statement?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1046.67,1047.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/282","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think that we have got the consequences.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1051.75,1056.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/283","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think the administration has got the consequences","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1057.18,1058.96"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/284","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the energy program out of somewhat out of focus.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1058.96,1062.873"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/285","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"To talk about the measures that have been taken","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1067.31,1069.94"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/286","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in quite the catastrophic terms that has been done.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1071.0,1074.97"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/287","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think it's unwise to talk about the moral equivalent","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1074.97,1079.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/288","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of war and then have a small increase in taxation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1079.04,1083.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/289","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"seems to me going is a little bit unwise.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1083.44,1088.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/290","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They, and I would think that we could,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1088.99,1093.99"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/291","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it's my own feeling that we could indeed","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1095.29,1098.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/292","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as you imply accommodate to a much more conservative policy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1098.69,1103.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/293","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in the use of energy, substantial shift to energy farms","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1104.36,1108.693"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/294","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"other than oil, this is not an energy crisis","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1109.79,1111.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/295","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"really an oil crisis","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1111.64,1112.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/296","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with not any vast economic consequences and should.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1113.87,1118.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/297","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"On the other hand one can understand","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1122.305,1125.97"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/298","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"how President Carter wanted to make the issue","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1127.05,1131.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/299","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as dramatic as possible.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1131.15,1132.963"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/300","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The only problem with this is that when something","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1134.11,1136.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/301","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"really important comes along,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1136.61,1137.68"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/302","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it will be hard to make it much more dramatic.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1137.68,1140.33"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/303","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well, I'm not saying this is unimportant, but the next time","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1140.33,1144.11"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/304","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it will be hard to put up the same excitement.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1144.11,1146.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/305","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, John, I'm going to take about two","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1149.35,1152.77"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/306","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or three more questions.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1152.77,1153.922"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/307","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I've often explained to audiences what the series","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1153.922,1157.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/308","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of question time is.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1157.19,1159.34"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/309","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's not to answer all questions.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1159.34,1162.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/310","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"One can't do that.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1162.7,1164.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/311","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's to give a slightly fraudulent aspect of democracy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1164.15,1167.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/312","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to an otherwise authoritarian proceedings.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1167.86,1171.285"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/313","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience laughing)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1171.285,1172.91"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/314","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And so you begin to take her off","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1172.91,1176.617"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/315","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when you see the anxious look of people who are dashing out,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1179.29,1183.58"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/316","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"trying to desperately also to look","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1185.87,1188.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/317","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as though they were leaving reluctantly.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1188.15,1190.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/318","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1191.84,1193.051"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/319","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(indistinct)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1193.051,1195.468"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/320","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"No, I don't.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1210.97,1212.393"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/321","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The question is, do you think they","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1213.557,1216.22"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/322","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"wouldn't it be simpler just to have it all taken over","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1216.22,1219.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/323","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"by the large corporations?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1219.87,1221.873"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/324","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And isn't that the way in which the problem will be solved?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1223.77,1226.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/325","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Is that a fair paraphrase?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1226.3,1228.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/326","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't really think this will happen.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1228.37,1230.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/327","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think it's a danger.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1230.61,1231.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/328","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think there is some equilibrium here","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1231.93,1233.79"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/329","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"between large and small.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1233.79,1235.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/330","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's a very large range of industries","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1235.93,1237.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/331","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that do not they lend themselves","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1237.84,1239.912"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/332","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to much larger scale operations","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1239.912,1243.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/333","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than we used to imagine.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1243.75,1244.79"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/334","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's true of agriculture.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1244.79,1246.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/335","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They still don't lend themselves","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1246.32,1248.0"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/336","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to a mass aggregation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1250.33,1252.663"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/337","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think it's fair to say John, that except for sugar","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1254.087,1256.28"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/338","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and a few other things","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1256.28,1258.21"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/339","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that the large scale corporate penetration of agriculture","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1258.21,1262.002"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/340","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has been on the whole not very successful.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1262.002,1267.002"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/341","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Corporation develops in agriculture","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1267.7,1269.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/342","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"as we were talking earlier","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1269.45,1270.44"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/343","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but the General Motors doesn't move in on agriculture.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1270.44,1274.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/344","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There is a large number of service enterprises","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1274.67,1277.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/345","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that have to be done under the whiplash of the individuals","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1277.86,1282.5"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/346","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"own a response to profit and loss.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1282.5,1286.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/347","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There's an area of the economy","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1286.83,1288.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/348","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which I mentioned in my comments","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1288.19,1289.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/349","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to which I really think we need to give much more attention.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1289.95,1293.563"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/350","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The whole artistic industry is part of the mythology","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1294.61,1299.61"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/351","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of scientists and engineers","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1300.2,1302.4"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/352","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that there are the last frontier actually,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1302.4,1304.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/353","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when these things begin to work","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1304.63,1306.48"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/354","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"people want good design, want good appearance,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1306.48,1308.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/355","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"want something that's pleasant to live with.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1308.63,1310.7"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/356","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Much the further and much more important frontier","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1310.7,1313.13"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/357","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is that of the artist and designer.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1313.13,1315.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/358","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And this is something which does not lend itself","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1315.27,1318.19"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/359","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to large scale organization.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1318.19,1320.45"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/360","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The artist very rarely fits in to a big organization.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1320.45,1323.51"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/361","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And if he does, there's this tension.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1323.51,1325.36"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/362","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I remember when I was first working on these new ideas,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1328.889,1330.82"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/363","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I had a substantial amount of help","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1330.82,1333.0"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/364","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"for which I was very grateful.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1333.0,1334.22"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/365","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm very grateful in the DuPont Corporation.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1334.22,1336.42"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/366","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"They epitome of the tech restructure in some ways.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1337.97,1341.3"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/367","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I remember the DuPont executive commenting on this.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1341.3,1343.78"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/368","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"DuPont is a, we think of it as a chemical firm.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1343.78,1347.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/369","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's really a very big textile firm,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1347.53,1349.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/370","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"big manufacturer of synthetic textiles,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1349.1,1351.093"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/371","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"it was an old, very large employer of designers of artists.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1352.991,1356.02"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/372","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And he was saying, you know, we can employ chemists","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1356.02,1359.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/373","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and chemical engineers and economists and statisticians","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1359.35,1362.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/374","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and computer programmers and all those people.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1362.04,1363.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/375","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And we know we can tell the good ones from the bad ones","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1363.87,1366.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/376","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and there's no problem there.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1366.49,1367.93"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/377","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But he said, \"We really run into trouble","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1367.93,1369.38"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/378","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"when we get to artists or designers,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1369.38,1371.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/379","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we can't tell the good ones from the bad ones.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1371.52,1373.742"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/380","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And they won't to live in Wilmington,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1373.742,1378.657"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/381","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"they're forced to farm this out to the small enterprises","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1378.657,1382.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/382","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in New York, Paris wherever.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1382.87,1384.643"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/383","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So I don't think that the technical possibilities","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1385.72,1390.72"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/384","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the take over by the big corporation does exist.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1391.55,1396.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/385","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think we may not have found the equilibrium yet","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1397.3,1401.79"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/386","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I think there is an equilibrium situation between.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1401.79,1405.143"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/387","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now, my yes, I'll come to you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1407.78,1410.563"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/388","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Question is with the rise","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1419.75,1420.92"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/389","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and inflation so high why is the stock market so stagnant?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1420.92,1424.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/390","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Actually it's been falling hasn't it?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1424.01,1425.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/391","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Or I suppose it's just the fear","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1428.641,1430.8"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/392","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that with the inflation continuing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1430.8,1434.53"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/393","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and in some degree, gaining momentum","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1434.53,1436.72"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/394","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that interest rates will go up","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1438.12,1440.37"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/395","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this will have its effect","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1446.473,1447.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/396","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the usual effect on capital values.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1447.65,1450.293"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/397","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But you can never really tell..","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1451.28,1452.96"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/398","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Wall Street has deep elements.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1452.96,1456.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/399","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So the irrationality combined with demand,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1456.01,1460.06"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/400","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"no one should ever know substantial small elements","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1460.06,1463.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/401","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of insanity.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1463.89,1464.763"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/402","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So that they talk to each other","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1466.09,1468.23"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/403","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and worry each other and mythology spreads.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1469.697,1474.49"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/404","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So that one cannot assume rationality","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1474.49,1476.67"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/405","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in any given movement to the stock market.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1478.21,1480.16"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/406","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But I suspect that the fear of rising interest rates","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1480.16,1483.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/407","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has a substantial effect on this.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1484.846,1488.053"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/408","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Now I take one more","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1489.57,1491.01"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/409","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and see if there's any part","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1492.981,1494.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/410","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of the audience I haven't looked at.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1494.55,1496.54"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/411","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Oh, I'll pass all over you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1496.54,1497.63"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/412","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'll go back to you at the very back with a, oh you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1497.63,1501.59"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/413","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Yeah. I'm sorry.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1512.253,1513.086"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/414","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"You'll have to go slower and louder.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1513.086,1514.707"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/415","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"That's right yeah.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1547.65,1548.55"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/416","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"No, I think what, this is a very good question.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1561.317,1565.98"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/417","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"There really two questions here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1565.98,1568.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/418","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"How would you, what is the nature of this regulatory process","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1568.04,1572.78"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/419","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and come to the other one in a moment?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1572.78,1575.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/420","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I don't think it distinguishes between corporations.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1575.89,1579.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/421","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I think what one does is establish the parameters","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1579.25,1583.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/422","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"within which reflect public policy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1583.35,1588.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/423","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which reflect the public purpose.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1588.18,1590.26"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/424","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And one should always test the same as","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1590.26,1594.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/425","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to me any proposal that one makes","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1594.1,1596.87"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/426","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to find out whether in fact it isn't","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1596.87,1599.18"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/427","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in some degree being done.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1599.18,1601.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/428","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Well after all on the environment","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1601.04,1602.98"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/429","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on safety and health,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1602.98,1604.723"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/430","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the treatment of employees","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1606.0,1608.88"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/431","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the treatment of the consumer","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1608.88,1610.69"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/432","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we are already a erecting, a very substantial structure.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1610.69,1615.52"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/433","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Which defines, specifies the limits","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1615.52,1620.28"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/434","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of law within which the corporation functions.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1620.28,1625.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/435","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And most of this is directed,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1625.24,1627.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/436","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we should remind ourselves at the large enterprise","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1627.1,1630.2"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/437","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so that the process that I'm describing","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1630.2,1633.14"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/438","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"of defining the public interest","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1633.14,1635.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/439","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and specifying the parameters","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1635.32,1638.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/440","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"within which then the firm operates","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1639.06,1641.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/441","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"is one which is not novel.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1641.75,1643.83"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/442","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's one that's well-advanced.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1643.83,1645.06"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/443","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And this is one of the reasons I must say why I feel","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1645.06,1647.62"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/444","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that that's a much more constructive mood","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1647.62,1649.99"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/445","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"than the purely theoretical enterprise of breaking them up","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1649.99,1654.9"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/446","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which isn't going to be done anyway.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1654.9,1656.653"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/447","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Your other question.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1657.946,1660.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/448","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"It's perhaps the most difficult one","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1660.35,1662.39"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/449","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that anybody could ask.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1662.39,1664.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/450","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"If you are depicting a system in which","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1664.65,1669.2"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/451","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"this sector of the economy,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1671.75,1673.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/452","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"has great public power including great public power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1673.57,1677.25"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/453","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in relation to the state.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1677.25,1679.02"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/454","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Then how can you turn around and ask the state to regulate?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1679.02,1683.08"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/455","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Isn't there a contradiction there?","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1683.08,1685.6"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/456","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I'm putting your question in somewhat stronger form","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1685.6,1687.65"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/457","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I think that's the thrust of it.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1687.65,1689.443"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/458","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And there is no question there's no doubt in my mind","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1690.3,1692.79"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/459","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that there is a major contradiction here.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1692.79,1696.473"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/460","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"This is a vital contradiction in this remedy.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1700.569,1704.41"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/461","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The only the answer I have is,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1708.59,1711.2"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/462","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that as one perceives the contradiction,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1711.2,1713.593"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/463","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"then in some degree it disappears.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1714.6,1716.84"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/464","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Because people perceive the difference","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1716.84,1719.95"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/465","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"between their interest and the exercise of power","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1721.27,1726.27"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/466","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and the surrender to the corporation,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1727.3,1730.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/467","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that it in some ways","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1730.57,1731.94"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/468","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the power of the great corporation depends","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1731.94,1734.5"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/469","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on the concealing of this conflict.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1734.5,1736.39"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/470","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I mean we have what I've called the public perception","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1736.39,1740.51"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/471","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that acts as an antidote","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1740.51,1742.54"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/472","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"or a counter to the power of the corporation","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1742.54,1745.32"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/473","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"because it's exercise then is seen as something","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1745.32,1749.14"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/474","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that where there has to be an exercise","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1749.14,1753.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/475","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"with public intervention and exercise with public power.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1753.09,1756.753"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/476","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And we have seen also,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1760.924,1762.8"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/477","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"again testing against the reality","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1763.83,1766.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/478","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but on a great many matters,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1766.86,1768.313"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/479","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the steps that have been taken","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1769.19,1770.43"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/480","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to arrest industrial pollution.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1770.43,1772.04"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/481","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The steps that have been taken to improve highway safety.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1772.04,1775.38"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/482","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"The question that the steps that have","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1775.38,1779.57"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/483","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"the agitation that has built up, for example,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1779.57,1782.8"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/484","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"on such a matter as overseas weapons sales,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1782.8,1786.66"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/485","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"overseas bribery,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1786.66,1787.86"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/486","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"so that the public perception can be developed","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1787.86,1791.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/487","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"to the point where it establishes these parameters.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1791.35,1795.54"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/488","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So I don't feel wholly pessimistic about it,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1795.54,1798.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/489","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"but I wouldn't in all honesty,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1798.75,1800.89"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/490","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"want to deny the existence of the conflict","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1800.89,1803.09"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/491","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"which you identified.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1803.09,1804.14"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/492","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"On that semi-optimistic note,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1805.55,1808.223"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/493","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I presume John, we should adjourn.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1810.4,1812.962"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/494","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience applauds)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1812.962,1815.962"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/495","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"\u003cstrong\u003e -:\u003c/strong\u003e Dr. Galbraith on behalf of the students","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1828.7,1831.1"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/496","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"and faculty and the university lecture committee,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1831.1,1834.11"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/497","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"we certainly appreciate your sharing your wisdom,","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1834.11,1836.81"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/498","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"your humor and your information with us this evening.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1836.81,1840.15"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/499","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And we want you to know","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1840.15,1841.48"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/500","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"that you're always welcome here at Iowa State University.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1841.48,1844.28"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/501","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And if you don't come back","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1844.28,1845.35"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/502","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"in a respectful period of time I will bring you back","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1845.35,1848.64"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/503","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"through the lecture series.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1848.64,1850.75"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/504","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And in the meantime, we'll be watching for you on TV.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1850.75,1854.24"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/505","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Thank you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1854.24,1855.196"},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/506","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"(audience applauds)","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=1855.196,1858.196"}]},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104","type":"AnnotationPage","label":{"en":["English [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30104/annotation/507","type":"Annotation","motivation":"subtitling","body":{"type":"TextualBody","value":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/030/104/original/AV167956_b.vtt?1624899256","format":"text/vtt","language":"en"},"target":"https://d9jk7wjtjpu5g.cloudfront.net/file_transcripts/associated_files/000/030/104/original/AV167956_b.vtt?1624899256"}]},{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30105","type":"AnnotationPage","label":{"en":["AV167956_b.txt [Transcript]"]},"items":[{"id":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625/transcript/30105/annotation/508","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"- Effective in destabilizing operations with the CIA. Although with the difference that it worked more on friendly governments. I rather expected that somebody in the audience would take umbrage deny this slight. Nobody did. My point, I think, was on the whole accepted. No one doubts that the oil companies conduct a policy in the middle of the East. But many people believe that General Motors had considerably more to do with setting, mass transportation in recent times in the United States government. These tensions and this exercise of power. These are great and important facts of life. As with inflation and unemployment this unequal development, which I described, inequality. We presently deal with this corporate power by resort to an image of industrial society, which holds that it does not exist, can't happen, or which holds that if it does exist, it is an aberration, an accident. This is unconvincing to the average citizen who aren't like advanced graduate student in economics who's not adequately trained in illusion. It precludes effective diagnosis and it precludes effective remedial action. My case is simply that it would now be safer and wiser, more conservative as well as intellectually more rewarding, to accept the reality. There is power. Let us accept the fact that in this sector of the economy, power is exercised as we accept the other facts of the bi-modal system. And then we need to consider whether the exercise of power is as on occasion, it may be, as occasion I believe it is, useful and directed to social ends, or whether it is directed to ends that are not consistent with the purposes of society. In which case it needs to be brought within the parameters that are consistent with the purposes of society. And our social policy then becomes extensively concerned with making that decision and making that decision effective. This is I say, as I think the point at which we have now come and I devoutly hope that I have brought you all to that point, too. Thank you very much.\r\n\r\n- Well, Ken, I've never received that kind of applause after any lecture I've ever given in a class here at Iowa state. So it speaks pretty much for the audience. In tradition with our speakers at the campus here, we asked the speakers if they would be willing to answer questions and to dialogue with the audience there. So if there are any points that you'd like to question or you'd like to get some free information from Dr. Galbraith, now's the time to do so. And Ken if you're willing if you'll just come up here and field the questions yourself you can answer them as long as you have, until your next obligation begins tonight. Or until you run into a question that you can't answer and I'll bail you out at that time, okay.\r\n\r\n- Maybe I'll get you to speak very loud. So you'll have to stand up. Must say, that's an extremely important question. I should repeat it. Something I should have covered in my lecture. There are limits, however to what you can do in two hours, which that must've seemed. What about breaking up the big corporations? What about rehabilitating the entrepreneurial half? This is an established, an old liberal solution. I've long since abandoned it. I think it's inconsistent with a broad current of history. I think we, for large tasks, which we seem to want done we're going to continue to want the large corporations. I think we could, they may be larger than they need to be and in more fields than they need to be. And I'm very much afraid that we could spend an enormous amount of energy for example, in breaking up the oil companies now and have only a somewhat more complex oligopoly rather than anything that is very new, that was what happened when this old Standard Oil Company was broken up. And in any case, we've had the antitrust laws in the books for 18, forever since 1890. Having an enormously complex legal structure, marvelously remunerative to the lawyers on both sides. If anything were going to happen along these lines I'm on ease meal of the opinion that it would have happened before now. I also in a way think the antitrust laws are slight menace because they give liberal politicians when they're completely devoid of all other thought, the one great excuse. They can pound themselves in the chest and say let's enforce the antitrust laws. And sometimes they can even believe themselves they've said something. You in the bright red shirt there. You'll have to stand up. Well, this is another question which was very much to the point. Could I rephrase it? Which I think I might. Hasn't growth eased this tension that's between labor and management? And one had become greater again, if for reasons of energy supply or otherwise growth tapers off. That an adequate paraphrase? There's no question that my mind at least that growth in the past has been a great solvent for say social tension. It's one of the reasons that we've been able to talk so much about sacrifice without ever experiencing any. People compare their position in one year with their position the year before. And if a substantial number find it improved they don't compare their position with somebody else. And this has been the way in which growth has eased social tension. And I don't think incidentally that we should lose that solvent any sooner than we need to. I think I was perhaps one, 20 years ago, one of the first people to raise in a serious and extended way, the argument that we needed to bounce growth against other social costs including those to the environment. I remember John one of coming at a very early stage when I was working in the affluent society to aims to make that argument. And I think I'm safe in saying that such lingering reputation as I have as a Bolshevist goes back to those times when I questioned the sacred goal of maximum growth as a goal in itself. But I also feel, but since my instinct is reformist rather than revolutionary, that we need to preserve this solvent in the system, as long as possible. And I think with you that if that did not exist then the clash over who gets the existing revenue, since there will not be anymore now it will become more acute. And I'm inclined to think that your case, which I accept, which I extend by implication that's with declining growth, there could be some more assertive in collective bargaining. More competition for who gets what this could become sharper may be right. It could also manifest itself in a still continuing passing on of costs and a more rapid rate of inflation or a more difficult problem in controlling inflation. I rather think it might be that most of all. I say parenthetically, I don't think the , I don't think the inflation for the energy supply is going to be decisive for growth for some time. The question is how do you answer the charge that, if you intervene on prices and on wages you damage the allocation of resources. Let me note that I only suggest this for the organized sector of the economy. I would not intervene where the market works. In other words, I wouldn't intervene where the market now allocates resources. I would only intervene where resources are now allocated by the power of the corporations and in some measure also by the power of the collective bargaining process. So you're only if you wanna put it this way, substituting one form of non-market allocation for another form of non-market allocation. You're only fixing prices. If you wish to put it in the bluntest possible way that are already fixed. You're only fixing wages that are already fixed. Are they, this is a very important point that they friends of the market, the defenders of the free market out of either innocence or purpose, always assume away General Motors and General Electric and Exxon and the big corporations which have already taken over the market. And they also assume away unions to a very substantial degree. If we had a market economy, I certainly wouldn't be talking about the problems of intervention, because as I indicated in my remarks, the need for them wouldn't exist. I started, I don't react to the problem of intervention with any great enthusiasm because as John Timmons said I'm perhaps the last surviving person with a really hair-raising experience with the whole task of running controls and this was a dangerous thing for somebody to have undertaken at a tender age. I had the feeling that if anybody left your office smiling that you had done a bad job. I've never wanted to see anybody smile since. Permanent damaging effect on one's character. But after the war was over reflecting on the experience and writing about it, I laid down on a law, which I believe to be valid, which is that it isn't terribly difficult to fix prices that are already fixed. 95%, 90% of the problems to the office of price administration, or in the entrepreneurial sector of the economy, which under the exigencies of war we had also to fix because we had also to ration. But the problems of dealing with steel prices, chemical prices those things are infinitely easy as compared with, well I must say, as compared with livestock prices, John. I left Washington after the war determined to be a vegetarian for the rest of my life. I can tell you, it takes only a very few cattlemen in Washington to keep you from feeling lonesome. You and then I'll try to go back deeper into the. I'm sorry. I missed that. Oh I don't think it does really. The question is at what point does high taxation become a stimulus to inflation? There's no question that, well, for example let's increase in gasoline prices, the increase in the OPEC prices adds to the price increase. The problem of inflation is always a process. And one thing building on another. And one should not confuse something like the wage-price spiral which has this persistent and continuing effect. With the one-time effects of say a tax increase? And of course, the effect of a tax increase on demand, tax increase of it, reduces the deficit. If it reduces the total of aggregate spending can in fact be deflationary. Now I must go to the back of the room, anybody at the back that I've, we want to encourage everybody coming to lectures to come down to the front row. Here. Yes. You better stand up. Soy beans. You see a danger emerging for, I missed a word or two there. The question is, is there a dangerous attitude or an erroneous attitude on the part of the public in equating economic success with the supply of energy? Is that a fair statement? I think that we have got the consequences. I think the administration has got the consequences of the energy program out of somewhat out of focus. To talk about the measures that have been taken in quite the catastrophic terms that has been done. I think it's unwise to talk about the moral equivalent of war and then have a small increase in taxation seems to me going is a little bit unwise. They, and I would think that we could, it's my own feeling that we could indeed as you imply accommodate to a much more conservative policy in the use of energy, substantial shift to energy farms other than oil, this is not an energy crisis really an oil crisis with not any vast economic consequences and should. On the other hand one can understand how President Carter wanted to make the issue as dramatic as possible. The only problem with this is that when something really important comes along, it will be hard to make it much more dramatic. Well, I'm not saying this is unimportant, but the next time it will be hard to put up the same excitement. Now, John, I'm going to take about two or three more questions. I've often explained to audiences what the series of question time is. It's not to answer all questions. One can't do that. It's to give a slightly fraudulent aspect of democracy to an otherwise authoritarian proceedings. And so you begin to take her off when you see the anxious look of people who are dashing out, trying to desperately also to look as though they were leaving reluctantly. So you. No, I don't. The question is, do you think they wouldn't it be simpler just to have it all taken over by the large corporations? And isn't that the way in which the problem will be solved? Is that a fair paraphrase? I don't really think this will happen. I don't think it's a danger. I think there is some equilibrium here between large and small. There's a very large range of industries that do not they lend themselves to much larger scale operations than we used to imagine. That's true of agriculture. They still don't lend themselves to a mass aggregation. I think it's fair to say John, that except for sugar and a few other things that the large scale corporate penetration of agriculture has been on the whole not very successful. Corporation develops in agriculture as we were talking earlier but the General Motors doesn't move in on agriculture. There is a large number of service enterprises that have to be done under the whiplash of the individuals own a response to profit and loss. There's an area of the economy which I mentioned in my comments to which I really think we need to give much more attention. The whole artistic industry is part of the mythology of scientists and engineers that there are the last frontier actually, when these things begin to work people want good design, want good appearance, want something that's pleasant to live with. Much the further and much more important frontier is that of the artist and designer. And this is something which does not lend itself to large scale organization. The artist very rarely fits in to a big organization. And if he does, there's this tension. I remember when I was first working on these new ideas, I had a substantial amount of help for which I was very grateful. I'm very grateful in the DuPont Corporation. They epitome of the tech restructure in some ways. I remember the DuPont executive commenting on this. DuPont is a, we think of it as a chemical firm. It's really a very big textile firm, big manufacturer of synthetic textiles, it was an old, very large employer of designers of artists. And he was saying, you know, we can employ chemists and chemical engineers and economists and statisticians and computer programmers and all those people. And we know we can tell the good ones from the bad ones and there's no problem there. But he said, \"We really run into trouble when we get to artists or designers, we can't tell the good ones from the bad ones. And they won't to live in Wilmington, they're forced to farm this out to the small enterprises in New York, Paris wherever. So I don't think that the technical possibilities of the take over by the big corporation does exist. I think we may not have found the equilibrium yet but I think there is an equilibrium situation between. Now, my yes, I'll come to you. Question is with the rise and inflation so high why is the stock market so stagnant? Actually it's been falling hasn't it? Or I suppose it's just the fear that with the inflation continuing and in some degree, gaining momentum that interest rates will go up this will have its effect on the usual effect on capital values. But you can never really tell.. Wall Street has deep elements. So the irrationality combined with demand, no one should ever know substantial small elements of insanity. So that they talk to each other and worry each other and mythology spreads. So that one cannot assume rationality in any given movement to the stock market. But I suspect that the fear of rising interest rates has a substantial effect on this. Now I take one more and see if there's any part of the audience I haven't looked at. Oh, I'll pass all over you. I'll go back to you at the very back with a, oh you. Yeah. I'm sorry. You'll have to go slower and louder. That's right yeah. No, I think what, this is a very good question. There really two questions here. How would you, what is the nature of this regulatory process and come to the other one in a moment? I don't think it distinguishes between corporations. I think what one does is establish the parameters within which reflect public policy, which reflect the public purpose. And one should always test the same as to me any proposal that one makes to find out whether in fact it isn't in some degree being done. Well after all on the environment on safety and health, on the treatment of employees on the treatment of the consumer we are already a erecting, a very substantial structure. Which defines, specifies the limits of law within which the corporation functions. And most of this is directed, we should remind ourselves at the large enterprise so that the process that I'm describing of defining the public interest and specifying the parameters within which then the firm operates is one which is not novel. It's one that's well-advanced. And this is one of the reasons I must say why I feel that that's a much more constructive mood than the purely theoretical enterprise of breaking them up which isn't going to be done anyway. Your other question. It's perhaps the most difficult one that anybody could ask. If you are depicting a system in which this sector of the economy, has great public power including great public power in relation to the state. Then how can you turn around and ask the state to regulate? Isn't there a contradiction there? I'm putting your question in somewhat stronger form but I think that's the thrust of it. And there is no question there's no doubt in my mind that there is a major contradiction here. This is a vital contradiction in this remedy. The only the answer I have is, that as one perceives the contradiction, then in some degree it disappears. Because people perceive the difference between their interest and the exercise of power and the surrender to the corporation, that it in some ways the power of the great corporation depends on the concealing of this conflict. I mean we have what I've called the public perception that acts as an antidote or a counter to the power of the corporation because it's exercise then is seen as something that where there has to be an exercise with public intervention and exercise with public power. And we have seen also, again testing against the reality but on a great many matters, the steps that have been taken to arrest industrial pollution. The steps that have been taken to improve highway safety. The question that the steps that have the agitation that has built up, for example, on such a matter as overseas weapons sales, overseas bribery, so that the public perception can be developed to the point where it establishes these parameters. So I don't feel wholly pessimistic about it, but I wouldn't in all honesty, want to deny the existence of the conflict which you identified. On that semi-optimistic note, I presume John, we should adjourn.\r\n\r\n- Dr. Galbraith on behalf of the students and faculty and the university lecture committee, we certainly appreciate your sharing your wisdom, your humor and your information with us this evening. And we want you to know that you're always welcome here at Iowa State University. And if you don't come back in a respectful period of time I will bring you back through the lecture series. And in the meantime, we'll be watching for you on TV. Thank you.","format":"text/plain"},"target":"https://iastate.aviaryplatform.com/collections/1150/collection_resources/45605/file/118625#t=0.0,1889.448"}]}]}]}