Economics
This American Town Was Left to Die, and Suddenly Economists Care
Despite excellent job reports, parts of America have been in recession for years. Until recently, economics ignored inequality.
A view of downtown South Boston, VA where old buildings show signs of new life. Through a combination of state and federal aid, tobacco settlement funds, and town leadership, South Boston, Virginia, has pushed through an otherwise crippling loss of manufacturing jobs over recent decades.
Photographer: Travis Dove/BloombergSuppose a bunch of economists were to show up in the Virginia town of South Boston to preach the benefits of free trade. How would local people react?
In an old, red-brick tobacco warehouse near the Dan River, W.W. “Ted” Bennett Jr. ponders the question. The former state delegate looks over his shoulder, squints a bit, then says with southern understatement: “I think it would be pretty rough.”