Now that two of the last three Democratic presidencies have been emphatically judged to have been failures, the world’s oldest political party — the primary architect of this nation’s administrative state — has some thinking to do. The accumulating evidence that the Democratic Party is an exhausted volcano includes its fixation with stale ideas, such as the supreme importance of a 23rd increase in the minimum wage. Can this party be so blinkered by the modest success of its third recent presidency, Bill Clinton’s, that it will sleepwalk into the next election behind Hillary Clinton? In 2016, she will have...