Robert Solow

The wealth-income ratio in the United States has always been lower than in Europe. The main reason in the early years was that land values bulked less in the wide open spaces of North America. There was, of course, much more land, but it was very cheap.

We have fluctuations all the time, business cycles, and they come about in various ways, but normally what sets them off is some reduction in the willingness of our population, our businesses, and foreigners to buy.

Just as it is important in Latin America to discuss ideas that come from North America, I think it is interesting for North Americans to discuss ideas that come from Latin America or Africa and do not insert themselves into capitalist interests.