I don't think equality is intrinsically valuable, meaning in and of itself. I'm not against inequality... if Bill Gates gets another hundred million dollars, it's no skin off my nose.

Americans, like many citizens of rich countries, take for granted the legal and regulatory system, the public schools, health care and social security for the elderly, roads, defense and diplomacy, and heavy investments by the state in research, particularly in medicine.

The key is to somehow find a way of tackling rent-seeking, crony capitalism, and corruption - legal and illegal - and build fairer, more equal society without compromising innovation or entrepreneurship.

Americans, like many citizens of rich countries, take for granted the legal and regulatory system, the public schools, health care and social security for the elderly, roads, defense and diplomacy, and heavy investments by the state in research, particularly in medicine.

Political and legal institutions play a central role in setting the environment that can nurture prosperity and economic growth.