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The Catastrophe of Detroit – Not Just the Decline of the Motor Industry

Saturday, February 25, 2017 5:01
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(Before It's News)

Detroit has obvious financial problems caused by the loss of the auto industry. But the city has another problem…
Ken McCarthy
Real Econ TV



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  • The difference between business and big business is the latter is not competitive. I don’t think it’s well-enough appreciated, when we lament the loss of big business, that it was crony capitalism — not earned or deserved. Show me quota cases, and I’ll show you makework. It’s generic. The quality wanes and becomes anemic. The business model was to collect subsidies, using the bare minimum of matériel, and the lowest orders of life, in the social foodchain. It collapses, when they can’t even be bothered to maintain the appearances of useful activity, any more. Not that complicated

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