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But rising income inequality explains, at best, half of the increase in the rich-poor academic achievement gap. It’s not just that the rich have more money than they used to, it’s that they are using it differently. This is where things get really interesting. High-income families are increasingly focusing their resources — their money, time and knowledge of what it takes to be successful in school — on their children’s cognitive development and educational success. They are doing this because educational success is much more important than it used to be, even for the rich.

Finland's schools owe their newfound fame primarily to one study: the PISA survey, conducted every three years by the Organization for Economic Co-operation and Development (OECD). The survey compares 15-year-olds in different countries in reading, math, and science. Finland has ranked at or near the top in all three competencies on every survey since 2000, neck and neck with superachievers such as South Korea and Singapore. In the most recent survey in 2009 Finland slipped slightly, with students in Shanghai, China, taking the best scores, but the Finns are still near the very top. Throughout the same period, the PISA performance of the United States has been middling, at best.

Compared with the stereotype of the East Asian model -- long hours of exhaustive cramming and rote memorization -- Finland's success is especially intriguing because Finnish schools assign less homework and engage children in more creative play. All this has led to a continuous stream of foreign delegations making the pilgrimage to Finland to visit schools and talk with the nation's education experts, and constant coverage in the worldwide media marveling at the Finnish miracle.