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When Government Fails: The Orange County Bankruptcy Paperback – June 1, 1998
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He finds three factors critical to understanding the bankruptcy: one, the political fragmentation of the numerous local governments in the area; two, the fiscal conservatism underlying voters' feelings about their tax dollars; three, the financial austerity in state government and in meeting rising state expenditures. Baldassare finds that these forces help to explain how a county known for its affluence and conservative politics could have allowed its cities' school, water, transportation, and sanitation agencies to be held hostage to this failed investment pool. Meticulously examining the events that led up to the bankruptcy, the local officials' response to the fiscal emergency, and the road to fiscal recovery―as well as the governmental reforms engendered by the crisis―When Government Fails is a dramatic and instructive economic morality tale. Eminently readable, it underlines the dangers inherent in a freewheeling bull economy and the imperatives of local and state governments to protect fiscal assets. As Baldassare shows, Orange County need not―and should not―happen again.
- Print length340 pages
- LanguageEnglish
- PublisherUniversity of California Press
- Publication dateJune 1, 1998
- Dimensions5.93 x 0.85 x 8.95 inches
- ISBN-109780520214866
- ISBN-13978-0520214866
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Product details
- ASIN : 0520214862
- Publisher : University of California Press; First Edition (June 1, 1998)
- Language : English
- Paperback : 340 pages
- ISBN-10 : 9780520214866
- ISBN-13 : 978-0520214866
- Item Weight : 15.8 ounces
- Dimensions : 5.93 x 0.85 x 8.95 inches
- Best Sellers Rank: #3,025,089 in Books (See Top 100 in Books)
- #676 in Public Finance (Books)
- #5,783 in Economic History (Books)
- #13,195 in Finance (Books)
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