As far as wages are concerned, the only difference between immigration and birth is that birth takes longer.

If China and India were as rich as the United States is today, the market for cancer drugs would be eight times larger than it is now.

Education is the key to the future: You've heard it a million times, and it's not wrong. Educated people have higher wages and lower unemployment rates, and better-educated countries grow faster and innovate more than other countries. But going to college is not enough. You also have to study the right subjects.

Conservatives have long argued, correctly, that 'fine-tuning' the economy is a chimera, but that argument seems to have disappeared from the conservative handbook.

It would be really great if I discovered a cure for cancer, but it would only be a little bit less great if my neighbor did. So I am pretty happy when my neighbor becomes wealthier, better educated and more innovative. I feel the same about China and India.

Going to college is neither necessary nor sufficient to be well-educated.

Like many works of literature, Hollywood chooses for its villains people who strive for social dominance through the pursuit of wealth, prestige, and power. But the ordinary business of capitalism is much more egalitarian: It's about finding meaning and enjoyment in work and production.