Every Month a CPEG member will be posting a brief issue analysis for discussion and comments. This month’s discussion piece was authored by CPEG member Ron Baiman, with additional commentary from CPEG member Mel Rothenberg. More information about both can be found in the “About Us” section of our site.
One of our premier cities, sitting at the center of the industrial heartland, once a symbol of democracy, upward mobility, racial integration, a growing and vibrant middle class, and opportunity and a better life for immigrants from all over the world, has gone bankrupt. The cause has been obvious for at least three decades: massive de-industrialization, free-trade, union busting, white flight and suburban sprawl, deregulation, and “Financialization.” Similarly, for the same reasons, the Illinois economy, the largest and most important in the Midwest, has been in a downward spiral for decades.