In America, people with lots of money can avoid the consequences of bad bets and big losses by cashing out at the first sign of trouble – like Donald Trump and his ill-fated Atlantic City casinos. But workers who move to a place like Atlantic City for a job, invest in a home there, and build their skills, have no protections
Detroit's bankruptcy is a model for how wealthier and whiter Americans escape the costs of public goods they’d otherwise share with poorer and darker Americans. Are Detroit, its public employees, poor residents, and bondholders the only ones who should sacrifice when 'Detroit' can’t pay its bills? Or does the relevant sphere of responsibility include Detroit’s affluent suburbs?