Paul Krugman: Left Behind Economics: "There's a persistent myth, perpetuated by economists who should know better - like Edward Lazear, the chairman of the president's Council of Economic Advisers - that rising inequality in the United States is mainly a matter of a rising gap between those with a lot of education and those without. But census data show that the real earnings of the typical college graduate actually fell in 2004.

In short, it's a great economy if you're a high-level corporate executive or someone who owns a lot of stock. For most other Americans, economic growth is a spectator sport."