Sunday, July 09, 2017

Where capitalism fails

Detroit's underground economy: where capitalism fails, alternatives take root:
"The city’s so-called renaissance has reached only small portions of its 139 square miles, leaving much of the population—which is more than 80 percent African-American—behind.
But over decades of poverty, Detroiters have learned to get by without access to traditional cash or credit. There’s a resilient informal economy rooted in neighborhoods and communities: Barter, gifts, time trading and underground businesses are ubiquitous."

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