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The eagerly awaited British election finally kicked off last week. Yes, we had one already earlier this month, a real barnburner: it so absorbed the public that 40% of Britons forgot to vote. Good thing it was only a warmup act. The main event will unfold over the next few weeks, as the Conservative Party selects a new leader to replace the hapless William Hague. It should make for great entertainment. The frontrunner, Michael Portillo, has shed his reputation as a right-wing rabble-rouser to become the soothing, centrist voice of Tory moderation. "Our party has to appeal to the whole range...