The world is undergoing a great economic reordering, the third such transformation in the past century. The United States has been at the helm of each one, shaping the global economy in ways that ...

This resilience, a Teflon-like superpower, is cause for celebration. It means that the twin scourges of recession and unemployment have been kept at bay. The trouble is that threats are now mounting.

After Adolf Hitler’s troops rolled into France in 1940, many feared the imminent destruction of Europe and its economy. British investors did not. In the year following the invasion, London’s ...