Some of them are just countries who believe that deregulation or no regulation is the best way to attract investment, promote trade.

One set of causes is political: lower taxes, deregulation, particularly of financial services, privatization, weaker legal protections for trade unions, all of these have contributed to more and more income going to the very, very top.

It's one way of describing what happened with deregulation of the financial services in the U.S. and the U.K. A second thing that worries me is how easily meritocratic plutocracy can become aristocracy.

And the third thing that we need to do is deal with what we call the three D's: deregulation, desupervision, and the de facto decriminalization.

The other important issue is that there are scale effects in portfolio management, together with financial complexity, financial deregulation, that make it easier to get higher rates of return for a large portfolio, and this seems to be particularly strong for billionaires, large capital endowments.

Much as the Washington Consensus focused on financial liberalization, deregulation, free capital movements, privatization, and stable macroeconomic policy as the keys to development, today’s political consensus is on free elections and the political empowerment of the hitherto oppressed, without sufficient attention being paid to the institutional underpinnings of democracy, such as a functioning judicial system, an infrastructure of political parties, and other constitutional arrangements.

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