I don't pretend that I can predict the future value of the growth rate or rate of return.

Once constituted, capital reproduces itself faster than output increases. The past devours the future.

Private property and the market system are good not only to promote innovation and to promote growth; private property and the market system are good for our personal freedom.

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.

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.

I think if you look back through time, the history of income, wealth and taxation is full of surprise. So I am not terribly impressed by those who know in advance what will or will not happen.