Yale Law School was the kind of place you went if you felt you needed to go to law school, maybe, for your resume, but you really didn't want to practice law. You wanted to do public policy, or maybe go into politics.

Any bank that is too big to fail is too big. Period.

I was there in Washington in the `90s. It was pretty bad then. It`s much worse now [in 2015]. And that vicious cycle is you`ve got again big corporations, executives, Wall Street, very wealthy individuals in both parties who are calling the shots.

The key to understanding the rise in inequality isn't technology or globalization. It's the power of the moneyed interests to shape the underlying rules of the market.

As to the meaning of "corporate social responsibility," Friedman and I would agree: If a certain action improves the corporation's bottom line, there's no point in labeling it "socially responsible." It's just good business.

I wish it were simply a nightmare, but I think that any reasonable person watching American politics would come to the conclusion that a second Bush administration would in fact incorporate a more radicalized version of what we've seen in the first administration.

You ask, "Could we have an honest discussion about earnings insurance?" I think we could, if people understood that the alternative was to build up a backlash against global capital, against free trade, against technological change.