If one sentence were to sum up the mechanism driving the Great Stagnation, it is this: Recent and current innovation is more geared to private goods than to public goods. That simple observation ties together the three major macroeconomic events of our time: growing income inequality, stagnant median income, and the financial crisis.

Unintended Consequences is full of substance, it is one of the must-read books of the year, and once I finish it I will be giving it a second read through right away.

The hours from 7 to 12 are your time to build for the future before the world descends on you.

My view of the internet is that it is way overrated in what it’s done to date but considerably underrated in what it will do.

I sometimes call Donald Trump the placebo president. He will talk a big game, but for domestic policy I think change remarkably little.

Beethoven and Michelangelo, who sold their artworks for profit, were entrepreneurs and capitalists.

What I would like to vote for is a candidate that is socially liberal, a fiscal conservative, broadly libertarian with a small l but sensible and pragmatic and with a chance of winning. Thats more or less the empty set.