It was an epoch-defining decision to place in Westminster Abbey, among statues of monarchs, priests and poets, a large one of James Watt, inventor of the separate-condenser steam engine. The statue’s inscription says Watt ranks among the world’s benefactors because he “increased the power of man.” The economist and historian Deirdre McCloskey believes this honor, conferred in 1834, signified society’s …

The Indian stock market seems unstoppable. Its major indices have risen over 20 percent this year, making it one of Asia’s best performers. Indian investors have piled into more than $7.2 billion worth of stock in 2017 and foreigners have bought almost $7 billion. Yet corporate earnings have hardly recovered enough to justify such exuberance. The quarter between April and …

Under the lax ethical standards President Donald Trump brought to the White House, rampant conflicts of interest are treated with casual indifference. This disregard has sent a message to his entire administration that blurring lines—between public and private, right and wrong—will be not just tolerated but defended. At least one cabinet member appears to have taken the message to heart. …