The fiscal benefit of fewer defaults and more on-time payments could offset the cost of forgone tax revenue, Lavet said.
Now if the plan succeeded N.Y.C. would get its money & survive, but the rest of the country would be cheated of much of the psychological benefit that avoidance of default was meant to bring.
Cass Sunstein (2002), for example, argues that the best world is one in which we capture the benefits of a default rule regime, including permitting those best served by at-will employment to enter into at-will arrangements, but in which the default rule is just cause.
Without saying these provisions were of no benefit at all to Southern Peru and its outside investors, the Court of Chancery did say that they did not factor more importantly in its decision because they do not provide any benefit above the protections of default law that were economically meaningful enough to close the material dollar value gap that existed.
Soil organic matter models such as CENTURY would benefit from further calibration of default parameters, including the soil cultivation effect coefficient, with real-world data.
Benefit cuts are a form of default; it's perhaps not as damaging as missing a bond payment, but it is still not delivering on a promised payment.
And given how spectacularly god-awful that picture was, it has the sideways benefit of making Criminal, by default, the "good" Costner flick for this year.
The five debt collectors, according to the department, misled borrowers about their options to get out of default, the resulting benefits to their credit reports and collection fees.
This was always an option but now you get the added benefit of them being private by default until you look at the device.
As I learned more, I understood white privilege as a social benefit of which I am, by default, a recipient just because I'm white.
