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 principal mechanism for convergence at the international as well as the domestic level is the diffusion of knowledge.

The U.S. is the country that invented progressive taxation of income and of inherited wealth in the 1910s and 20s.

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

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

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.