Lalaki wrote:The Serbian Empire wrote:Detroit might be the only place where capitalism could have worked as the city was overcharging in hopes of avoiding bankruptcy. According to what I have read, Detroit's water rate was more than five times higher than Washington D.C.'s
Detroit seems to be an extremely strange anomaly in the United States. What made it collapse? Usually the places we hear of being full of poverty are minor cities and neighborhoods, but Detroit used to be the top of its class.
Really? You don't know the Ballad of the Motor City?
Well, it ain't much of a ballad. But it's tragic enough. After the War, lots of soldiers came back and moved to Detroit- they worked in the auto plants. That was the city's only significant industry. Cars were the beating heart of Detroit. But as time went on, and things changed as they're liable to do, the Japanese car companies moved their production to the states, elsewhere. And that was the death knell. The plants began to close in the '80s, you know? It's been going down for a while. And the big crash in '09, that was the end of it. GM and all those companies, they hit the bottom like their shocks gave out. And with 'em, Detroit hit bottom too.
There's a lesson to take out of it: don't put all your eggs in one basket, especially when that basket is the auto industry.