New Delhi, May 23 -- Yet again, America's economy has shown up the rest of the world. For all the chaos of the past year, its GDP has chugged along merrily at 2% annual growth. True, that is hardly a blockbuster pace and-like everywhere else-consumers in America are grumbling about high prices. But Uncle Sam's peers are doing much worse. In Britain, France, Germany and Japan economic growth ranges from roughly zero to about 1%. America's outperformance began decades ago, but in the 2020s it has become vast. And it is likely to last. The latest IMF forecasts show American growth besting the rest all the way to 2030 and beyond.

Perhaps that makes this an odd time to look at what America gets wrong. But remarkably, its world-beating perform...