07/22/2013 08:28 am ET Updated Sep 21, 2013

Paul Krugman: The Story You're Hearing About Detroit Is Wrong

When Detroit declared bankruptcy, or at least tried to -- the legal situation has gotten complicated -- I know that I wasn't the only economist to have a sinking feeling about the likely impact on our policy discourse. Was it going to be Greece all over again?

Read more on The New York Times