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 am not political. It is not my job. But I would be happy if politicians could read my work and draw some conclusions from it.

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.

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

Wealth is so concentrated that a large segment of society is virtually unaware of its existence.

Without precisely defined sources, methods, and concepts, it is possible to see absolutely everything and its opposite.

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