It’s an axiom among many Americans that each future generation will live better than its predecessor. New technologies, greater efficiencies and a can-do spirit will reward us with higher living standards. There might be periodic stumbles, but the long-term trajectory is up. And the people most guaranteed to enjoy this bountiful future are the children of today’s upper-middle class. They ...

Monetary medicine in Japan is keeping the economy alive, but with nasty side effects. The search for a new cure should begin with a simple question: What if the Bank of Japan were to throw out its money-printing presses? Instead of pushing more yen into an economy that has already absorbed a threefold increase in cheap central-bank funds in five ...

Tesla Inc’s past few months have produced even more drama than usual: CEO Elon Musk’s refusal to answer “dry” analyst questions; his Trumpian media tirade and #Pravduh thingy; Kanye; an alleged saboteur (or wannabe whistleblower). The company’s quarterly results almost feel like a commercial break. Earnings came in short of expectations. This is not a number that, in isolation, means ...