The Debt Ceiling Deal: The Case for Caving

BOOK REVIEW – Theory of Games and Economic Behavior, Author: John von Neumann

By Brendan Greeley – At the height of the Cold War, the application of game theory convinced leaders of the two nuclear-armed superpowers “that if we’re thinking of using them, we’re in deep s–t.”

This summer’s negotiations over raising the debt ceiling seemed to present Democrats and Republicans...