The lesson of the great American boom

IN EUROPE, the three signs of spring have arrived: the bright flora, the endless days and the ambient sound of American voices. All are welcome. But the last is also an annual reminder of the spending power of US tourists. That their economy has outperformed the continent’s this past decade or two can be felt, not just measured.

The material success of the US is discussed in all quarters. What is not said enough is that it has happened amid political bedlam.

America has roared ahead in the era of the Tea Party, Donald Trump, “forever wars” abroad and culture wars at home. There have been more presidential impeachments in the past generation than in the previous two centuries of the republic.