In a sense, the market, by expecting a fall in prices, discounts that fall and makes it happen right away instead of later. Expectations speed up future price reactions.

To get back to the kind of shared prosperity and upward mobility we once considered normal will require another era of fundamental reform, of both our economy and our democracy.

Big companies are reliant on institutional investors on a punishing schedule which leads to ruthless behaviour. This form of capitalism with this structure and incentives will never deliver sustainability.

It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.

Poor people of all colors are getting poorer and our communities are getting more toxic. There is a misconception that to grow our economy we will have to do business as usual, because cleaning up the environment, mitigating climate change is just too costly. Well, I say the business of poverty is just too expensive a bill for humanity to pay any longer.

Nor should the argument seem strange that taxation may be so high as to defeat its object, and that, given sufficient time to gather the fruits, a reduction of taxation will run a better chance than an increase of balancing the budget.