> Capitalism is remarkably effective at redirecting misallocated capital into productive uses. The original builders go bankrupt, and it sucks for them, but usu

> Capitalism is remarkably effective at redirecting misallocated capital into productive uses. The original builders go bankrupt, and it sucks for them, but usually an enterprising firm picks up the assets at fire-sale prices and does something interesting with them. It works great in theory and even in practice to a degree, but there are endless chronically impoverished neighborhoods, cities, regions, and nations where it didn't work out that way. The wealthy locales tend to stay wealthy, and the poor ones poor.