The Wenatchee World

Weather:

Weather

The latest extended forecast from The Weather Channel

Remove this weather forecast

Tonight

Lo56° Isolated Showers

Wednesday

Hi76° Mostly Sunny

Wednesday Night

Lo55° Mostly Clear

Thursday

Hi78° Sunny

Thursday Night

Lo54° Mostly Clear

Friday

Hi84° Sunny

Friday Night

Lo58° Clear

Saturday

Hi86° Sunny

Saturday Night

Lo59° Clear

Sunday

Hi87° Sunny

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