[lbo-talk] A Calamitous Response to Calamity

michael perelman michael.perelman3 at gmail.com
Wed Aug 10 22:02:52 PDT 2011

I grew up 18 miles from Youngstown, Ohio, the nearest thing to a "big city." The town was the epicenter of the Rust Belt because of his heavy dependence on steel. As the economy disintegrated, arson became the major industry because housing values had declined so much. Recently, the town was in the news because it pioneered in the deliberate shrinkage of a city.

Now, the Wall Street Journal reports that a new steel mill is under construction, which might seem to be a reason for celebration. Unfortunately, the purpose of the mill is to produce million tons of seamless steel tubes used in "fracking," which has become a major source of income in the area, but a serious threat to the water supply.

Ansberry, Clare. 2011. "A Steel Plant Rises in Ohio." Wall Street Journal (2 August): p. B 1. http://online.wsj.com/article/SB10001424053111904233404576462562705511704.html?mod=ITP_marketplace_0

-- Michael Perelman Economics Department California State University Chico, CA 95929

530 898 5321 fax 530 898 5901 http://michaelperelman.wordpress.com

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