In Part 1 of Shakespeare’s Henry IV, the loathsome knight Sir John Falstaff removes himself from a dangerous battle by faking his own death. When asked to explain himself, Falstaff simply says, “the better part of valour is discretion.” This seems a deeply unsatisfying explanation for such a cowardly act. And yet, none other than the United States Marine Corps—an organization whose brand is valor and boldness— instills in its officers a twist on Falstaff’s principle. They call it “strategic patience.” In the chaos and confusion of battle, they believe, wisdom and caution go much further than reckless bravery.
Strange as it might sound, strategic patience is also at the core of one of the most important trends in local public finance today: the diverging financial trajectories of big cities and their urban counties.
- Publication date: April 2025
- Author: Justin Marlowe