A state-government default would have all sorts of unpleasant consequences, writes James Surowiecki, but, luckily, U.S. states can count on help from the federal government.
Like the crises in Greece and Ireland, a state-government default would have all sorts of unpleasant consequences in the U.S., writes James Surowiecki. But unlike the struggling European countries, U.S. states can count on help from the federal government, which can generally be counted on to step in and bail out a failing state during a fiscal crisis. This increases the moral hazard for state governments, but it makes more sense than canceling building projects and laying off workers in a recession.
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Quoth the parrot — "Nevermore."
- Edgar Allan Poe (1809–1949) is considered one of America's great writers.
- Poe penned his most famous poem, The Raven, in his 30s.
- Originally, the poem's feathered subject was a bit flamboyant.
Evolution doesn't clean up after itself very well.
- An evolutionary biologist got people swapping ideas about our lingering vestigia.
- Basically, this is the stuff that served some evolutionary purpose at some point, but now is kind of, well, extra.
- Here are the six traits that inaugurated the fun.
- Facebook and Google began as companies with supposedly noble purposes.
- Creating a more connected world and indexing the world's information: what could be better than that?
- But pressure to return value to shareholders came at the expense of their own users.
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