The rundown Fisher Body Plant in Detroit(Martin Gonzalez)
The rundown Fisher Body Plant in Detroit
(Martin Gonzalez)

Detroit Bankruptcy—Nothing to See Here

The collapse of this great American city isn’t just a case of not selling enough cars. It signals something far more ominous. 
 

Detroit is “just an innocent victim of market forces.” There is no bigger lesson here, said New York Times economist Paul Krugman. “For the most part, it’s just one of those things that happens now and then in an ever changing economy” (July 21).

What garbage. It is exactly this kind of mixed-up thinking that guarantees more cities will turn into Detroit.

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