Week in Insights: Asserting Your Independence And Moving Ahead

This weekend, Americans all over the world will unfurl flags and march in parades in honor of Independence Day. Others will spread blankets to watch fireworks. And still, others will eat—and drink—a lot to commemorate the day.

But what does the day really mean? When I was a kid, July 4 was easily explained. It was the day we declared our independence from Great Britain. From there, I assumed we skipped right to democracy. It wasn’t until I got older that I realized it was much more complicated—and involved tax.

The part we all know is this: On July 4, ...