Detroit's Underground Economy: Where Capitalism Fails, Alternatives Take Root
Vande Panne, Valeriehttp://inthesetimes.com/article/20212/detroits-underground-economy-gift-barter
Publisher: In These Times
Date Written: 29/06/2017
Year Published: 2017
Resource Type: Article
Cx Number: CX21021
Detroit's economic comeback is greatly overstated, while many residents survive through informal business arrangements and bartering.
Excerpt: The problem is this comeback is a myth. The poverty rate is nearly 40 percent, and despite the influx of young whites lured by promises of a Detroit Renaissance, the population continues to decline, from a peak of 1.8 million in 1950 to 670,000 today. Approximately 70,000 households have had their water turned off for lack of payment since 2014, and about 17,000 occupied homes are at risk of foreclosure this year.