Fate of the States: The New Geography of American Prosperity

By Meredith Whitney

Categories: Business & Money, Politics & Social Sciences

Financial analyst Meredith Whitney argues that American states and cities borrowed and spent too much during the boom years. She shows how pensions, debt and falling revenues created a crisis for many state and local governments, especially along the coasts. Whitney predicts a shift in prosperity toward central states with lower costs and more energy and manufacturing, and suggests policy changes.

Recommended by 1 person

• Shane Parrish: “Author Meredith Whitney points out that it wasn’t just consumers who binged on debt. So did state and local governments. The book is worth reading to better understand the position of a lot of major U.S. cities. Detroit is just the start and the ramifications are worth noting.”