Sunk costs: business failures from the Titanic to Evergrande
A crash course in crumbling companies. Chinese property developer Evergrande is struggling to manage its debts. If it defaults and the business fails, its failure would resound across the global economy. But this incident echoes historical particularities and is "also just another of those moments that capitalism produces to remind us 'that it runs on faith' and sometimes, it's bad." Matthew Sweet guides us through some of history's canonical crashes.