The Wenatchee World

Weather:

Weather

The latest extended forecast from The Weather Channel

Remove this weather forecast

This Afternoon

Hi86° Sunny

Tonight

Lo64° Mostly Clear

Friday

Hi89° Mostly Sunny

Friday Night

Lo63° Partly Cloudy

Saturday

Hi89° Sunny

Saturday Night

Lo62° Partly Cloudy

Sunday

Hi87° Partly Sunny

Sunday Night

Lo63° Slight Chc Showers

Monday

Hi77° Chance Showers

Monday Night

Lo56° 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.

View my options or Sign in