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.

Globalization and technical change are the guarantee of our future prosperity. And reversing on that will not only make things worse, but it will make things worse for a very large number of people around the world who have benefitted - people in China and India who have been dragged out of the most awful poverty.

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

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.

I feel passionately about measurement - about how difficult it is, about how much theory and conceptualization is involved in measurement, and indeed, how much politics is involved.

Without effective states working with active and involved citizens, there is little chance for the growth that is needed to abolish global poverty.