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

Liberals are concerned about the concentration of wealth because it almost inevitably leads to a concentration of power that undermines democracy.

One of the things I tell my students is that if you want to understand what's been going on and also what needs to be done, you've got to get out of the blame game. Some people on the left want to blame the rich and corporations. Some people on the right want to blame the poor and government. Either of those frames of reference gets you nowhere and they aren't even truthful. You've got to understand the dynamic itself.

One logical consequence of this New Economy composed of big brands and entrepreneurial groups is that the unit of production is no longer a particular, identical product. The unit of production is the creative individual.

There's a great debate going on, you know, on whether we're moving toward a system of giant oligopolies or a system of multiples of small businesses. Which is it? I think it's both. In every sector of the economy, we have giant brands that are trustworthy guides to what's good, and then a vast number of small groups, many of them project-based, sometimes folding and re-creating, that are offering products and services through those giant global brands.

Now, inventiveness and empathy, those qualities, if they're together in the same person, you've got an entrepreneurial genius. But they do tend to be slightly separate.

Cutting taxes is not bad. But if you cut taxes on the wealthy, which is what they wanted to do, you're not helping people who need better schools and better infrastructure and healthcare. You're basically robbing the middle class and the poor to provide tax cuts to the rich.