Quote

When inequality gets too extreme, then it becomes useless for growth, and it can even become bad because it tends to lead to high perpetuation of inequality over time and low mobility.

You need some inequality to grow... but extreme inequality is not only useless but can be harmful to growth because it reduces mobility and can lead to political capture of our democratic institutions.

Income inequality is troubling because, among other things, it means that many people in our society don't have the opportunities to advance themselves.

Inequality is on the rise.

Inequality has risen to the point that it seems to me worthwhile for the U.S. to seriously consider taking the risk of making our economy more rewarding for more of the people.

The increase in inequality in income is a longtime trend, but the pressure on middle- and low-income workers is going up rapidly. Especially if they live in an area where there are high housing and gas prices, like California.

The extent of and continuing increase in inequality in the United States greatly concern me.

In middle-income countries, inequality becomes a problem because you can see there is a layer of people who are doing well, while the poor are still stuck there.

I think inequality is fine, as long as it is in the common interest. The problem is when it gets so extreme, when it becomes excessive.

You have to let the market reward effort and skill. But a system in which inequality of incomes constantly increases over time is worrisome.