The Wenatchee World

Weather:

Weather

Five-day forecast

Remove this weather forecast

This Afternoon

Hi62° Breezy

Tonight

Lo39° Partly Cloudy

Saturday

Hi65° Partly Sunny

Saturday Night

Lo42° Partly Cloudy

Sunday

Hi66° Partly Sunny

Sunday Night

Lo47° Mostly Cloudy

Monday

Hi68° Cloudy

Monday Night

Lo45° Chance Showers

Tuesday

Hi62° Chance Showers

Tuesday Night

Lo41° Mostly 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 optionsorSign in