There are many more of them now, achieving ever higher standards ever earlier, and competition is getting fiercer as the profession becomes more global.

ECONOMIST: Violin-making

In many product areas, a combination of fiercer competition, more transparency and the introduction of electronic systems is driving down margins.

ECONOMIST: New dangers

But there may be fiercer debates, even in America, about using the tax and benefits system to redistribute more of the winnings.

ECONOMIST: The balance of economic power in the world is changing. Good