Originally published 10/17/2013
Thirty-eight years ago to this day, New York City almost went bankrupt.
Originally published 01/10/2013
Thad A. Titze
The Parthenon from the south. Credit: Wiki Commons.Following the Peloponnesian War, Athens’ interim government borrowed 100 talents ($37 million) from the victorious Spartans. Shortly thereafter, when Athens’ democratic government returned to power, it assumed the debt incurred by the interim government and repaid the Spartans in full. This story is noteworthy as it marks one of the first discernable instances of sovereign debt. The Athenians’ timely repayment, however, is anomalous in the long history of public borrowing. Default and renegotiation of public debt is a practice nearly as old and constant as public debt itself. As the spotlight of sovereign debt returns to the Greek people -- pioneers of public debt -- it is important to recognize that throughout history governments have rarely been careful stewards of borrowed money.
Originally published 06/30/2015
June 2015 will be remembered by us and by tomorrow’s historians as a moment of profound cultural and political change.
- Sources: McMaster Mocked Trump’s Intelligence at a Private Dinner
- The JFK assassination files lead back to Seattle
- Princeton investigates its connection to slavery at a two-day symposium
- Rare Documents Show a Palm Reader's Take on Franklin and Eleanor Roosevelt
- A Photo of Billy the Kid Bought for $10 at a Flea Market May Be Worth Millions
- Historian Says Textbooks Have Shaped Our Attitudes On Race
- Heather Ann Thompson says what went on at Attica is worse than we thought
- Princeton’s Jan T. Gross warns that Poland’s showing signs of turning decisively in a fascist direction
- Gar Alperovitz is still pushing to make America more democratic
- Robert Dallek: “The fish rots from the head”