An analogy is when the young United States federalised "war debts of the ex-colonies, issued new national bonds backed by direct taxes and minted its own currency. Hamilton’s new financial system helped transform the young republic from a basket-case into an economic powerhouse." [1] The argument is that the short-term costs will be outweighed by long-run benefits; similar logic allowed for the Deutsch reunification.
One doesn't hear much about how Texas and New York are transferring wealth to keep Alabama et al floating because everyone is stronger for being part of the United States (and have an American identity superior to their state identities).
One doesn't hear much about how Texas and New York are transferring wealth to keep Alabama et al floating because everyone is stronger for being part of the United States (and have an American identity superior to their state identities).
[1] http://www.economist.com/node/21547253?fsrc=scn%2Ftw%2Fte%2F...