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Old 12-26-2008, 05:31 PM
 
196 posts, read 568,696 times
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When I say "rust belt" cities, I'm referring to cities like Detroit, Pittsburgh, Cleveland, Cincinnati, Toledo, Youngstown, etc...

The major economic output that comes from these cities are mostly labor intensive, manufacturing industries. These same industries met their peak in the mid 20th century, but because of mass globalization, and outsourcing, we are now witnessing these once successful industries on the rapid decline, and it's killing the rust belt.

What can we do to revive the economies of these cities? Should auto makers change the way they are designing cars in order to increase competition with Asian/European car makers? Should these cities be new frontiers for industries like nanotechnology, information technology, fuel cell development, or even stem cell research?

What are your ideas on how these cities can be revived?
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Old 12-26-2008, 06:09 PM
 
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Simple. By diversifying their economies. This is the 21st century, we've entered the Information Age, and it has to be done.

And besides, not all of us Rust Belters are struggling. I can think of a couple that are holding their own right now.... [cough]Fortwayne[cough][cough]
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Old 12-26-2008, 06:29 PM
 
56,755 posts, read 81,102,256 times
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Quote:
Originally Posted by Colts View Post
Simple. By diversifying their economies. This is the 21st century, we've entered the Information Age, and it has to be done.

And besides, not all of us Rust Belters are struggling. I can think of a couple that are holding their own right now.... [cough]Fortwayne[cough][cough]
True and Grand Rapids is another city that comes to mind that is holding it's own as well. I think a lot of Rust Belt cities are cities in transition from manufacturing to say healthcare, education, alternative energy and companies that do work with government entities.
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Old 12-26-2008, 06:36 PM
 
706 posts, read 1,343,602 times
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Liberalize their economies, lower taxes, reduce government regulations, get rid of union thugs in government...


Quote:
Originally Posted by Colts View Post
[...] By diversifying their economies. This is the 21st century [...]
Um, actually 21st century trend for more specialized economies, but I understand that you mean transitioning from manufacturing to something else. Diversified economies means Madagascar raising its own arctic shrimp, Greenland growing its own bananas, etc, instead of specializing on what they're good at and trading. A good example is Taiwan: they don't make much food or energy, they have to import those, but they're good at making microchips which are most often designed and sold on the other side of the world.

Last edited by Alex Libman; 12-26-2008 at 06:47 PM..
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Old 12-27-2008, 07:57 AM
 
Location: Englewood, Near Eastside Indy
8,345 posts, read 14,119,342 times
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Quote:
Originally Posted by Alex Libman View Post
Diversified economies means Madagascar raising its own arctic shrimp, Greenland growing its own bananas, etc, instead of specializing on what they're good at and trading. A good example is Taiwan: they don't make much food or energy, they have to import those, but they're good at making microchips which are most often designed and sold on the other side of the world.
A diverse economy is one that relies on several industries.

That Taiwan example is not an example of a diverse economy. An example of a diverse economy is a city that relies on things such as farm food, computer technology, healthcare, financial sales, etc. in a close to equal manner in its workforce and collective output.

A "specialized" economy is different. Detroit had a "specialized" economy.
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Old 12-27-2008, 09:21 AM
 
Location: St. Louis, MO
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Some Rust Belt cities, such as St. Louis and Milwaukee, are already saving themselves.
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Old 12-27-2008, 12:50 PM
 
2,248 posts, read 6,213,651 times
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Quote:
Originally Posted by Alex Libman View Post
Um, actually 21st century trend for more specialized economies, but I understand that you mean transitioning from manufacturing to something else. Diversified economies means Madagascar raising its own arctic shrimp, Greenland growing its own bananas, etc, instead of specializing on what they're good at and trading. A good example is Taiwan: they don't make much food or energy, they have to import those, but they're good at making microchips which are most often designed and sold on the other side of the world.
No, I meant what I said. The main reason why cities like Gary and Detroit are the way they are now is because they never fully transitioned from a specialized economy to a more diversified one. This isn't so much about trade (even though it does affect the economy); it's more about the strength of local economies by finding multiple areas of success instead of just one.

There aren't that many of them, but today's successful Rust-Belt cities are the ones that are investing or have invested in a more diversified economy by not concentrating on one industry in order to be successful (Chicago, Grand Rapids, Fort Wayne, Indianapolis, Columbus, etc). There's always going to be a need for heavy industry, but it's not that profitable anymore in this part of the country because we aren't nearly as dependant on it.
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Old 12-27-2008, 04:53 PM
 
Location: Pittsburgh, USA
3,133 posts, read 8,341,970 times
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Pittsburgh left the rust belt in the past some time ago. We're said to be #2 in the world, behind Japan, in robotics. Our economy now is mostly based on healthcare, education, technology, financial services and the Steelers.
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Old 12-27-2008, 05:27 PM
hsw
 
2,144 posts, read 6,355,785 times
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Darwinian selection is healthy for overall economy...let losers die quickly...make room for new, promising companies and regions

Talented kids from Midwest have been migrating to leading colleges in CA/Northeast for decades; building careers in CA and NYC; and almost never returning to Midwest (though I don't know anyone who doesn't look forward to visiting Chicago for a quick business trip)

Places that fail to attract/keep talent and profitable businesses deserve their outcomes

Need superb engineering and business undergrad schools; low taxes; business-friendly climate for capitalists to start and run companies; and superb QOL for both singles and young families

Examine Chicago (esp Loop, LP, NorthShore and Naperville), SiliconValley, Manhattan/Greenwich and Dallas (esp Plano) for useful role-models of leading economies, each w/own strengths and weaknesses
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Old 12-27-2008, 05:42 PM
 
4,570 posts, read 6,553,561 times
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Other rust belt cities, like Gary, Cleveland and Detroit, seem to be taking a turn for the worse.
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