New York Times columnist David Brooks had some wise words this week about the surge in populist politics and anger at the wealthy.

"Voters are capable of holding two ideas in their heads at one time: First, that the rich and the powerful do rig the game in their own favor; and second, that simply bashing the rich and the powerful will still not solve the country's problems." Punishing the wealthy, he adds, "won't produce a better-educated work force, more investment, more innovation or any of the other things required for...