The Effects of Deindustrialization on Local Fiscal Policy
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The progress of the United States economy in the past 40 years has been deceptively impressive. Despite the gradual increase in economic health, this time period has had its fair share of difficulties. Policy makers of the time were met with the unenviable task of trying to suppress a vast wave of deindustrialization. By taking the role of the policy makers, we are able to analyze the many economic considerations of such a process. The architects of local fiscal policy were forced to quickly determine what effect, if any, deindustrialization would have on their cities. A great deal of economic acumen was necessary to be successful in this role. These policy makers came up with unique solutions to the growing problem. The various strategies employed also provide a terrific view into the economic principles contained therein. The ultimate goal of such an analysis is to, of course, determine the best method to reindustrialize these cities and restore them to a level economic prosperity even higher than their formal glory.