July 31 (Bloomberg) -- Like any immigrant, I’m optimistic
about the U.S. The crash will recede, confidence will come back
and stronger growth will resume. The zeal of ordinary Americans
to work hard and prosper will prevail over the weary
incompetence of the political class. If I wanted to be
pessimistic, though, I know what I’d be dwelling on right now:
the new preoccupation with inequality.
Inequality is rising, and that’s a bad thing. What’s worse
is that the issue is getting mixed up with what should be a more
pressing debate over economic opportunity, which would be better
kept separate. This is both a distraction and a danger.