Pittsburgh Past - Detroit Future?
That came to mind because in the Boston Globe today is this remarkably dismal quote from Professor Frankel at Harvard
Things are bad in the automobile world and there just isn't much on the horizon to turn it around anytime soon. There as here, denial is a real anchor on progress. There and here, there will eventually be a future. There are signs they are getting it. From earlier in the spring was this story comparing the Pittsburgh story to where Detroit is today: Different city, similar story: Pittsburgh rebirth proof that Michigan's industry may not define it forever. I am looking for the moment in Pittsburgh's history when the concept this would not be a 'steel' region was seriously considered, and when folks realized it was inevitable.
"There will be some cities like Detroit that in a real depression could just become ghost towns," says Jeffrey Frankel, a Harvard economist and member of the National Bureau of Economic Research committee that declares recessions. (Frankel does not, he emphasizes, think we are headed for a depression.)