History News Network Features Article by Senior

"We're All [Ancient] Greeks Now When It Comes to Debt," an op-ed by senior Thad Titze, a native of Watertown and a Thomas Willing Institute fellow, is featured on the History News Network.

"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," Titze wrote.

"...Throughout history, governments have usually not been careful stewards of others’ money. Fiscal recklessness is as old and ubiquitous as civilization itself so even if the EU manages to solve its current problems, look for more problems in the future, in Europe and North America as well as the rest of the globe because when it comes to public indebtedness, we’re all Greeks now."

Read the full article here.