By Shekhar Suresh Patil, consultant and Minnesota State University, Mankato, faculty member
The largest municipal bankruptcy in U.S. history, caused by bonds issued for the construction of sewers in Alabama's Jefferson County, and the looming bankruptcy of Stockton, Calif., have brought home the reality that construction professionals cannot continue to remain oblivious to the economic risks associated with construction projects and programs.
My position is that the construction industry's dependence on government support prevents stakeholders from clarifying the risks in construction and coming to an agreement on how the construction economy can remain systemically sustainable.
