The “spoils society” is a phrase I coined some years ago to illustrate a basic problem of wealthy societies, including, of course, the United States. After all, our annual GDP (gross domestic product) is approaching $20 trillion. The problem is that, as societies become richer, so does the temptation for people to advance their economic interests by grabbing someone else’s ...

My thoughts tend to go to dark places these days. And so when I watched Google on Wednesday trot out one after another of its homegrown computing devices for every task and every nook of our homes, I went straight to dystopia: R.I.P. digital competition. Today most people experience computing through devices controlled by a handful of companies: principally Microsoft ...

Central bankers are increasingly concerned about the possibility of low inflation expectations. But will those worries have an impact on the Federal Reserve’s December meeting? With the bank seemingly on autopilot for the rest of 2017, odds still favor a rate hike, yet if fears of falling inflation expectations gain more traction, look for policy makers to start downgrading rate-increase ...