I have a guest blog up on EPI’s Working Economics blog today. Its a riff on Bill Vlasic’s recent NYT piece “Last Car Plant Brings Detroit Hope and Cash”. I elaborate:
“Only two days later, the City of Detroit filed for the nation’s largest ever municipal bankruptcy. “Hope and cash” suddenly sounded like too little too late. It’s not.”
I argue that far from being the ‘last’ plant, JNAP is actually a bellweather of a shift in investment, corporate culture and civic engagement that can bode well for Detroit, and the rest of America.
I know the auto sector best, so that’s what I focus on in the blog, but I’m quite sure there are many more examples of proactive reinvestment in the city that real Detroiters could provide. And I’ve been seeing articles all week long in response to the bankruptcy that suggest that there is pent-up demand nationwide to put what we have – whether that’s private equity or sweat equity – into tangible projects that strengthen communities, cities like Detroit, and the nation.
Check out my guest blog here – and comment (with examples), please!