The global economy’s weird problem is that we have too much stuff

Excesses in capital, labor and commodities are challenging some of the basic principles of conventional economics.It ought to be a good thing that human society is richer than ever before, so rich that the storage tanks in Cushing, Okla., are nearly overflowing with crude oil and some 110 million bales of cotton are sitting in warehouses around the world, as Josh Zumbrun and Carolyn Cui report in The Wall Street Journal.
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