Tuesday, December 29, 2009

Detroit success story! No...not really...

Sometimes one must see the opposite thing to know the true thing. So, one must see what happened to a city with a population of 1.8 million and had the highest median income of any city in America, that now has a population below 900K. The beauties of socialism... http://www.youtube.com/watch?v=1hhJ_49leBw
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1 comment:

  1. Mentor ManDecember 30, 2009 at 10:16 AM

    As I looked at that pic of an old, stately mansion from back-in-the-day...I wondered, "What would it take to renovate it?" Then I figured that a complete demolishing and rebuilding would be the only cost-effective route. THEN I thought..."Detroit, what would it take to renovate it?"....

    ReplyDelete

Share your unique economics experiences. What did you have to give up to gain that which at the moment seemed so necessary to you? Imperfect information spanked you and now diminishing marginal utility smacks you upside the head, eh?