The Wenatchee World

Weather:

Weather

The latest extended forecast from The Weather Channel

Remove this weather forecast

Overnight

Lo37° Partly Cloudy

Tuesday

Hi53° Mostly Cloudy

Tuesday Night

Lo39° Rain Likely

Wednesday

Hi54° Rain then Chance Rain

Wednesday Night

Lo38° Slight Chance Rain then Mostly Cloudy

Thursday

Hi57° Mostly Sunny

Thursday Night

Lo36° Mostly Clear

Friday

Hi59° Sunny

Friday Night

Lo37° Partly Cloudy

Saturday

Hi57° Slight Chance Showers

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.

Cause of death? Corruption, both legal and illegal, plus a classic case of reactionary liberalism in which…

View my options or Sign in