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.
- Abraham Lincoln's Emancipation Proclamation among documents sold for $6.2m in New York
- Family shines light on American POW killed by Hiroshima blast
- In Hiroshima 71 years after first atomic strike, Obama calls for end of nuclear weapons
- Artist Corrects Inaccuracies At The George W. Bush Library With Augmented Reality
- “Unprecedented” discovery of mysterious structures created by Neanderthals
- History Relevance Campaign meets at the Smithsonian
- Bernard Lewis Turns 100
- Jean Edward Smith, biographer of FDR and Ike, has a new biography coming out … of George W. Bush
- Flora Fraser, biographer of George and Martha Washington, wins $50,000 George Washington Prize