I mentioned The Economist’s praise for the US system of Chapter 11 bankruptcy a few posts ago. This close-up look from the NYT doesn’t go so far as to deny the superiority of the US approach, but it is certainly a more jaundiced view.

The NYT also mentions an auction-based proposal by well-known economists Hart and Moore. Auctions are where the action is in economics nowadays, and I am edging into the field myself.