Detroit Bankrupt

Last week Detroit became the largest city in American history to declare bankruptcy. The city's been struggling for years and the unemployment rate in Detroit is 16 percent, more than twice the national average. The city's government-run schools have failed, with just 7 percent of eighth graders proficient in reading. It takes police an hour to respond to calls, and the city has more than $18 billion in unfunded liabilities. The city's population has dropped by a quarter in just the last decade, as hundreds of thousands have left, leaving 78,000 homes abandoned. For decades, the city of Detroit was a manufacturing powerhouse. The assembly line was perfected there, and brought with it the idea of a middle-class lifestyle based on manufacturing. After World War II the city boomed, producing cars that helped make the American dream achievable for millions. Motown Records produced music that defined a generation, with artists who remain household names such as Diana Ross and the Supremes, Marvin Gaye and the Jackson 5. Why did this happen? And what can be learned from the travesty of Detroit?

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