Resolution Authority for Governments
By Arnold Kling
Paul Romer is always interesting, and especially in this podcast with Paul Kedrosky. In the last quarter of the interview, the discussion turns to badly-performing cities, and Romer speculates that we need a workout procedure that would allow a city government to move into completely different hands. As with troubled banks, one could argue that we need a more effective resolution authority for troubled governments.
Possibly related: Tyler Cowen on privatizing local government.