Institute for Research on Labor and Employment
Not Just Pensions: The Social Origins of Municipal Bankruptcy in California
- Author(s): Martin, Isaac William
- et al.
The purpose of this brief is to place these bankruptcies in comparative perspective and to highlight some lessons from relevant social science on the roots of big-city fiscal crises. Big-city bankruptcies are sufficiently rare events that we cannot rely on statistical studies of a large sample of cases to determine their causes. We do, however, have a substantial case-study literature on the causes of fiscal strain in California cities.