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At long last, our national love affair with the rich is coming to a close. The moguls whose exploits we used to follow with such fascination, it now seems, plowed the country into the ground precisely because of the fabulous rewards that were showered on them.

Massive inequality, we have learned, isn't the best way to run an economy after all. And when you think about it, it's also profoundly ugly.

Some people haven't received the memo, though. Take Alex Kuczynski, author of the New York Times Magazine cover story for Nov. 30, which tells how she went about hiring another woman to bear her child.

For years Ms. Kuczynski worked the plutocracy beat for the New York Times, and in her whimsical way she described the travails of the world's supermodels, the scene-making that went on at this or that high-end restaurant, and the feeling on the hard streets of Greenwich and the Hamptons.

Somewhere along the way, Ms. Kuczynski went from observer to observed. She married a hedge-fund billionaire and in 2005 was the subject of a memorable...