When inequality gets to an extreme, it is completely useless for growth.

I am not political. It is not my job. But I would be happy if politicians could read my work and draw some conclusions from it.

We want capitalism and market forces to be the slave of democracy rather than the opposite.

The principal mechanism for convergence at the international as well as the domestic level is the diffusion of knowledge.

The democratic ideal has always been related to a moderate level of inequality. I think one big reason why electoral democracy flourished in 19th century America better than 19th century Europe is because you had more equal distribution of wealth in America.

When inequality gets to an extreme, it is completely useless for growth.

Indeed, the distribution of wealth is too important an issue to be left to economists, sociologists, historians, and philosophers.