I have no interest in bailing out anybody, quite frankly, and I think banks have to suffer every dollar of loss if they make a bad loan.
Talented people have a responsibility to get the training they need to be successful risk takers and go out there to take risks. What I see is surplus of talented people and a shortage of people willing to take the risks.
High-skilled workers increasingly choose lucrative jobs that don't serve or supervise low-skilled workers. Low-skilled productivity and wage growth has lagged as a result.
Republicans' focus on defunding or scaling back Obamacare - an unpopular entitlement program - rather than entitlements generally, namely Social Security and Medicare, has raised questions about their true objective. But critics forget that spending is fungible.
There are two ways to think about the one percent - the Bernie Sanders way, where we're all competing for a zero-sum pie where it's just a question of negotiations. The second way, which is the one I put forward, is no, it's really innovation in a knowledge-based economy.
What is the upside of inequality? I would say that it's a deep pool of properly trained, highly motivated talent that is endeavoring to create innovation that grows our knowledge-based economy.
