Toxic Debt

Toxic Debt
Author: Josiah Rector
Publisher: UNC Press Books
Total Pages: 345
Release: 2022-02-17
Genre: History
ISBN: 1469665778

From the mid-nineteenth until the mid-twentieth century, environmentally unregulated industrial capitalism produced outsized environmental risks for poor and working-class Detroiters, made all the worse for African Americans by housing and job discrimination. Then as the auto industry abandoned Detroit, the banking and real estate industries turned those risks into disasters with predatory loans to African American homebuyers, and to an increasingly indebted city government. Following years of cuts in welfare assistance to poor families and a devastating subprime mortgage meltdown, the state of Michigan used municipal debt to justify suspending democracy in majority-Black cities. In Detroit and Flint, austerity policies imposed under emergency financial management deprived hundreds of thousands of people of clean water, with lethal consequences that most recently exacerbated the spread of COVID-19. Toxic Debt is not only a book about racism, capitalism, and the making of these environmental disasters. It is also a history of Detroit's environmental justice movement, which emerged from over a century of battles over public health in the city and involved radical auto workers, ecofeminists, and working-class women fighting for clean water. Linking the histories of urban political economy, the environment, and social movements, Toxic Debt lucidly narrates the story of debt, environmental disaster, and resistance in Detroit.

102 Monitor

102 Monitor
Author:
Publisher:
Total Pages: 83
Release: 1979
Genre: Administrative agencies
ISBN:

Detroit

Detroit
Author: Lewis D. Solomon
Publisher: Routledge
Total Pages: 173
Release: 2018-02-06
Genre: Business & Economics
ISBN: 1351522450

As America's most dysfunctional big city, Detroit faces urban decay, population losses, fractured neighborhoods with impoverished households, an uneducated, unskilled workforce, too few jobs, a shrinking tax base, budgetary shortfalls, and inadequate public schools. Looking to the city's future, Lewis D. Solomon focuses on pathways to revitalizing Detroit, while offering a cautiously optimistic viewpoint. Solomon urges an economic development strategy, one anchored in Detroit balancing its municipal and public school district's budgets, improving the academic performance of its public schools, rebuilding its tax base, and looking to the private sector to create jobs. He advocates an overlapping, tripartite political economy, one that builds on the foundation of an appropriately sized public sector and a for-profit private sector, with the latter fueling economic growth. Although he acknowledges that Detroit faces a long road to implementation, Solomon sketches a vision of a revitalized economic sector based on two key assets: vacant land and an unskilled labor force. The book is divided into four distinct parts. The first provides background and context, with a brief overview of the city's numerous challenges. The second examines Detroit's immediate efforts to overcome its fiscal crisis. It proposes ways Detroit can be put on the path to financial stability and sustainability. The third considers how Detroit can implement a new approach to job creation, one focused on the for-profit private sector, not the public sector. In the fourth and final part, Solomon argues that residents should pursue a strategy based on the actions of individuals and community groups rather than looking to large-scale projects.