With all the talk about "disparities" in innumerable contexts, there is one very important disparity that gets remarkably little attention — disparities in the ability to create wealth. People who are preoccupied, or even obsessed, with disparities in income are seldom interested much, or at all, in the disparities in the ability to create wealth, which are often the reasons for the disparities in income.
In a market economy, people pay us for benefiting them in some way — whether we are sweeping their floors, selling them diamonds or anything in between. Disparities in our ability to create benefits for which others will pay us are huge, and the skills required can develop early — or sometimes not at all.
A recent national competition among high school students who create their own technological advances turned up an especially high share of such students winning recognition in the San Francisco Bay Area. A closer look showed that the great majority of these Bay Area students had Asian names.