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

The U.S. is the country that invented progressive taxation of income and of inherited wealth in the 1910s and 20s.

We know too little about global wealth dynamics, so we need international transmission of bank information.

It's important to realize that innovation and growth in itself are not sufficient to moderate inequality of wealth.

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.

I don't think there is any serious evidence that we need to be paying people more than 100 times the average wage in order to get high-performing managers.

Democracy will never be supplanted by a republic of experts—and that is a very good thing.