Ron Burgundy Posted July 23, 2013 Share Posted July 23, 2013 By James Saft (Reuters) - Here is the real meaning of Detroit: human institutions sometimes fail and we are far better off acknowledging and accommodating this than fighting it. Information from failure is a large part of the value created by markets and by experimentation, and we ignore and suppress that information, as we are now in the banking system and elsewhere, only at great cost. Detroit filed for what would be the largest municipal bankruptcy in U.S. ... View the full article Quote Link to comment Share on other sites More sharing options...
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