The Race To Equality —

The Race To Equality — Here's a nice piece by John Nye (an economic historian, not Bill, the science guy) explaining how economic growth diminishes inequality. The upshot is that differences in income hide everything that really matters: the quality of what you can afford. The difference between rich and poor in transportation used to be feet versus carriage. Now, its a 1988 Escort vs. a 2002 BMW, which, despite our keen sense for the social distinction, is in fact a triumph of equality. Read it. You'll get a sense of how all the whining about the income gap masks the amazing egalitarian power of markets and technology.