I certainly agree that capital is not a one-dimensional object, and that the return on capital takes very different forms for different assets or different people.

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.

Contrary to a tenacious myth, France is not owned by California pension funds or the Bank of China, any more than the United States belongs to Japanese and German investors. The fear of getting into such a predicament is so strong today that fantasy often outstrips reality. The reality is that inequality with respect to capital is a far greater domestic issue than it is an international one.

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.

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

I certainly agree that capital is not a one-dimensional object, and that the return on capital takes very different forms for different assets or different people.

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