Charles Krauthammer: Donor lists ruin disclosure
Charles Krauthammer, Washington Post
Posted: Sunday, July 28, 2013 12:00 am
If there's an iron rule in economics, it is Stein's Law (named after Herb, former chairman of the Council of Economic Advisers): “If something cannot go on forever, it will stop.”
Detroit, for example, can no longer go on borrowing, spending, raising taxes and dangerously cutting such essential services as street lighting and police protection. So it stops. It goes bust.
Copyright ©2014 Omaha World-Herald. All rights reserved.
This material may not be published, broadcast, rewritten, displayed or redistributed for any purpose without permission from the Omaha World-Herald.
To purchase rights to republish this article, please contact The World-Herald Store.
Sunday, July 28, 2013 12:00 am.