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The Economics Show
What happens when manufacturing goes away? With Amy Goldstein
Jul 29, 2024
Amy Goldstein, an insightful journalist and author of ‘Janesville: An American Story’, shares her experiences covering the closure of a GM plant in Janesville, Wisconsin. She discusses the profound impact on the local community, detailing personal stories of families facing job loss and the challenging transition away from the middle class. Goldstein also examines the mixed effectiveness of job retraining initiatives and emphasizes the emotional significance of manufacturing in American life, offering a compelling look at resilience amid economic change.
30:07
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Quick takeaways
- The closure of the GM plant in Janesville drastically impacted the community's economy and cohesion, highlighting the consequences of industrial decline.
- Personal stories of affected families illustrate the challenges of adapting to new employment opportunities after losing stable, well-paying jobs.
Deep dives
Impact of the GM Plant Shutdown
The closure of the General Motors (GM) plant in Janesville had a profound economic and social impact on the community. For decades, the plant was the largest employer in the area, providing jobs for around 3,000 workers and supporting numerous local businesses and suppliers. Its shutdown not only eliminated vital jobs, but it also disrupted the fabric of community life that had revolved around the plant and its workers, including union activities that fostered local social engagement. The loss of the plant marked a significant turning point, leading to a decline in family income and community cohesion, making it a clear example of the toll industrial decline can take on a mid-sized American city during economic crises.
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