On a Spring 2019 walk in Beijing I saw two street sweepers at a sunny corner. They were beat-up looking and grizzled but probably younger than me. They’d paused work to smoke and talk. One told a story; the other’s eyes widened and then he laughed so hard he had to bend over, leaning on his broom. I suspect their jobs and pay were lousy and their lives constrained in ways I can’t imagine. But they had time to smoke a cigarette and crack a joke. You know what that’s called? Waste, inefficiency, a suboptimal outcome. Some of the brightest minds in our economy are earnestly engaged in stamping it out. They’re winning, but everyone’s losing...