— Income inequality used to be a rabble-rousing issue of the left. Now it is being raised by mainstream figures, from the head of the Federal Reserve to President Bush, who are apologetically trying to offer solutions. But what is the actual problem they wish to solve?

— The truth is that Bono is doing something admirable just like Nike has been for a long time. Any factory that opens in an area with low employment benefits the population. Competition for labor eventually lifts wages as we have seen in Industrial Revolution Europe, South Korea, Taiwan, and many ...