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.

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

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

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

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.

No hypocrisy is too great when economic and financial elites are obliged to defend their interest.

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