Town Economics

Winchester, Virginia, is an emblematic American town. As the US economy and American culture have transformed in recent decades, the ground under centuries-old social codes has shifted, throwing old folkways into chaos. Homeplace teases apart the tangle of class, race, and family origin that still defines the town and illuminates questions that now dominate our national conversation - about how we move into the future without pretending our past doesn't exist, about what we salvage, and what we leave behind.

Metrofix: The Combative Comeback of a Company Town shows what went right and what went wrong when General Electric moved most of its businesses out of Schenectady, New York. Once known as “The City that Lights and Hauls the World” because of its electrical and railroad industries, the Electric City enjoyed decades of dizzying, enviable success. Like other river towns upstate, it was a 20th-century economic powerhouse that fueled the wealth and reputation of the Empire State.

Kellogg in the late 1940s and 50s was a typical American small town complete with high school football and basketball teams, marching band, and anti-Communist clubs; yet its bars, gambling dens, and brothels were entrenched holdovers from a rowdier frontier past. The Bunker Hill Mining Company, the largest employer, paid miners good wages for difficult, dangerous work, while the quest for lead, silver, and zinc denuded the mountainsides and laced the soil and water with contaminants.

Discover the man behind the chocolate bar! Milton Hershey’s life was filled with invention and innovation. As a young man, he was not afraid to dream big and work hard. Eventually, he learned the secret to mass-producing milk chocolate and the recipe that gave it a longer, more stable shelf life. He founded a school for those who didn’t have access to a good education and an entire town for his employees. Both his chocolate empire and his great personal legacy live on today.

In this review, we will analyze, discuss, and summarize the key points in The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse.