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.

At the heart of every major political upheaval lies a fiscal revolution.

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

I loved American universities. In many ways, they are better organized - certainly than French universities.

Over a long period of time, the main force in favor of greater equality has been the diffusion of knowledge and skills.

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

Our modern democratic ideal is based on the hope that inequalities will be based on merit more than inheritance or luck.