[lbo-talk] A Calamitous Response to Calamity

[michael perelman]

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