4 ms·
The only thing that could restore Detroit is a restoration of American capitalism, with drastic reductions in taxes and social welfare spending, and elimination
by aminok 12y ago
The only thing that could restore Detroit is a restoration of American capitalism, with drastic reductions in taxes and social welfare spending, and elimination of regulations designed to protect labour. In essence, Detroit would have start again from the bottom, from the same place that countries like China are at now. Low wage, low skilled labour, gradually building the capital and skillset of the residents.
This is unlikely to happen, due to ideological resistance to free market economics, so the people will remain trapped in a state of being unemployable due to labour laws instituted by the government with the intention to protect them, and dependent on welfare programs that reward the sort of low-income lifestyle that will generate the next generation of unskilled, government dependents.