Boom and Bust Towns

November 4, 2011

The other day, in response to my point I was making about Detroit, a good friend of mine pointed out that there have always been boom and bust towns. True, but I thought there was a difference.

Some time later it occurred to me what it might be.

In the past when it was “time to get out of Dodge” people just left. There was no reason to stay. In modern times we not only subsidize decisions to stay , but also we create and tolerate conditions where many in the population may not know how to do much else than accept the subsidies.

So, instead of bust towns going bust in the way of being depopulated, they become festering areas of crime and sink holes for other people’s money.

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