Bloomberg
March 20, 2013
Abstract
When I hear free-spending national leaders call for more infrastructure investment, I think of Detroit鈥檚 absurd People Mover monorail gliding above empty streets. That鈥檚 unfair, I know. Yet the city鈥檚 epic tragedy, which entered a new stage last week when Mayor Dave Bing lost financial control, provides broader perspective on the potential consequences of mixing economic distress with bad policy making.
Here are five somewhat contradictory lessons from the Motor City鈥檚 sad history that relate to the larger national debate about America鈥檚 future.
Citation
Glaeser, Edward L. "Big-Project Binge Fueled Motor City鈥檚 Meltdown." Bloomberg, March 20, 2013.