Tyler Cowen's perspective here rings true: > Most likely, this means creditors have a stronger incentive to be holdouts in the first place. I take that to be

Tyler Cowen's perspective here rings true: > Most likely, this means creditors have a stronger incentive to be holdouts in the first place. I take that to be a negative and welfare-decreasing. If creditor rights were weaker up front, as I would prefer, it would be harder for nations to over-borrow in the first place, and ex post less of the cost of that over-borrowing will fall on the taxpayers and citizens of the poorer citizenry. http://marginalrevolution.com/marginalrevolution/2014/06/what-does-the-argentina-supreme-court-decision-mean.html http://marginalrevolution.com/marginalrevolution/2014/06/wha...