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We believe that economics does not necessarily have to be a zero-sum game; it can be a win-win proposition for everyone involved so long as they have the tools in which to succeed.

Over the long term, the only way we're going to raise wages, grow the economy, and improve American competitiveness is by investing in our people - especially their educations.

My guiding principle is that prosperity can be shared. We can create wealth together. The global economy is not a zero-sum game.

This is the moment when we must build on the wealth that open markets have created, and share its benefits more equitably. Trade has been a cornerstone of our growth and global development. But we will not be able to sustain this growth if it favors the few, and not the many.

There is no question of the benefits that opening a market of a billion people will bring to American businesses. But as I said last year, this will test China and the world trade system.

We still have to keep betting on markets like America that are full of opportunities to grow, even if we have to work our heads off to do it.

If we want to deliver opportunity for all, we need an economy that delivers jobs for the future.

We can find a great sector or business, but we're investing so early that unless there's this tenacious grit, determination, resourcefulness, ability to evolve, it won't work.

I think, at the end of the day, you have to reduce friction to businesses, ideally to zero, so that more and more entrepreneurs can create more and more jobs with higher and higher disposable income.

There are winners and there are losers. And as much as we would like to help the losers, if we do it in the way that directs the limited capital of the society to support the low-productivity parts of the economy, it means that the rest of the economy - our overall standard of living - will not rise as much as it could.