> Yet in the short term, significant transformations have often also produced lower wages for many, hollowed out regional economies, and deepened inequality.
"Short term" being rather loosely used? Most industrial regions have never recovered. Look at Gary Indiana, Detroit and surrounding towns, Toledo, other regions that were dependant on manufacturing or mining. Most have been stagnating for decades; few have found a path back to a thriving economy.
It's a multifactorial problem. The decline of heavy manufacturing was one cause of economic stagnation in Detroit. But the failed progressive social policies and lack of effective law enforcement didn't help either. Businesses are hesitant to expand in areas where they can't find reliable employees and where their property isn't secure.
SoftTalker · · focus · HN ↗
"Short term" being rather loosely used? Most industrial regions have never recovered. Look at Gary Indiana, Detroit and surrounding towns, Toledo, other regions that were dependant on manufacturing or mining. Most have been stagnating for decades; few have found a path back to a thriving economy.
nradov · · focus · HN ↗