(This cover of the eminent Economist says it all.) The resounding victory of N.J. Governor Chris Christie has people speculating about the 2016 presidential race, particularly on the Republican side, since it’s a given among pols and pundits that Hillary Clinton’s nomination for the Democrats is a foregone conclusion (it isn’t, but that’s another discussion). The ObamaCare debacle and the foreign policy crises resulting from the President’s weakening of American power will be in the forefront. So will the economy. And it’s in this area that candidates must exhibit an understanding that has dangerously eluded too many policymakers and...