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How Julian Simon Defeats Thanos
“The universe is finite, its resources finite. If life is left unchecked, life will cease to exist.” With those simple words, the Marvel supervillain Thanos…
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California Supreme Court Upholds Pension Reform, Punts on ‘California Rule’
On Monday, March 4, the California Supreme Court, in a unanimous decision, upheld a major provision in the state’s 2012 pension reform legislation, but punted…
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Pension Obligation Bonds No Panacea for State Budget Liabilities
Illinois has a new governor and Chicago will soon have a new mayor—and the same old underfunded public pensions. Inheriting a predecessor’s debts is never…
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Warren Buffett Warns about Unfunded Public Pension Liabilities—Again
Would you invest in a state with large unfunded pension liabilities? Warren Buffett likely wouldn’t. In a long interview with CNBC this week, the famed…
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Real-World Effects of Pension Debt
Debates over public pension finance often have an abstract quality, taking place outside most people’s immediate concerns. Yet, the real-world effects can be quite tangible.
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A Toast to the Sears Catalog
In retail, as in every industry, eras come and go. Few recent events mark the passing of an era like the announced bankruptcy of…