The Wenatchee World

Weather:

Weather

The latest extended forecast from The Weather Channel

Remove this weather forecast

This Afternoon

Hi50° Mostly Sunny

Tonight

Lo32° Mostly Cloudy

Monday

Hi50° Mostly Sunny

Monday Night

Lo27° Mostly Clear

Tuesday

Hi42° Sunny

Tuesday Night

Lo21° Clear

Wednesday

Hi48° Sunny

Wednesday Night

Lo26° Mostly Clear

Thursday

Hi52° Mostly Sunny

Thursday Night

Lo32° Partly Cloudy

Detroit learns Stein’s law of economics

Send to Kindle
Print This

WASHINGTON — 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.

View my options or Sign in