Ugo Troiano of the University of Michigan reviews “The Global Debt Crisis: Haunting U. S. and European Federalism”, by Paul E. Peterson and Daniel J. Nadler. The Econlit abstract of this book begins: “Eleven papers, previously presented at a conference held at Harvard University in August 2012, and revised prior to publication, examine the structural flaws in federal systems of government across the globe that have led to economic and political turmoil and present solutions to preserve and restore federal systems that meet the needs of struggling communities. Papers discuss federalism's emerging fiscal crisis; competitive federalism under pressure; whether market discipline can survive in the U.S. federation; putting a price on teacher pensions; structural flaws in the design of public pension plans; past and present high-risk investments by states and localities; between centralization and federalism in the European Union; German federalism at the crossroads; Spanish federalism in crisis; regional identity and fiscal constraints in Spanish federalism; and the resilience of Canadian federalism. Peterson is Henry Lee Shattuck Professor of Government and Director of the Program on Education Policy and Governance at Harvard University, and Senior Fellow at the Hoover Institution. Nadler is a PhD candidate at Harvard University.”