Economists have put themselves in a position where what they are doing is supposed to be impossible to understand for outsiders, so they dont even talk - sometimes not even with their girlfriend or boyfriend or friends - about what they are doing.

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

The discipline of economics has yet to get over its childish passion for mathematics and for purely theoretical and often highly ideological speculation, at the expense of historical research and collaboration with the other social sciences.

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.

For far too long economists have sought to define themselves in terms of their supposedly scientific methods. In fact, those methods rely on an immoderate use of mathematical models, which are frequently no more than an excuse for occupying the terrain and masking the vacuity of the content.

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.

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