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.

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.

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.

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

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

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.