Thoughts about economic and business issues by and for the NYU Stern community -- and others with similar interests. The content reflects the views of individual NYU faculty but not necessarily those of NYU. Comments and suggestions welcome. Special thanks to our tech consultant, MBA alum Tim Reilly.
MR had a summary of a great piece about how Italy is cutting government spending: by not paying its bills. Many US state and local governments have done the same, in large part by not funding pension plans.