In my neighborhood, the factories have been turned into designer lofts that no one can afford to buy, rent or heat. Progress!
Ezra’s right, of course. Encouraging the manufacturing base to erode was another bright idea we can lay at the feet of the elite. But since none of the elite knows the kind of people who actually worked in factories, it didn’t seem all that important at the time. We were entering the Brave New World of the service economy.
Which is why it keeps coming back to the same thing: Class. There’s the bubble of the elite, and then there’s everyone else.