Theo Spark: VBS TV: Detroit Lives VBS Part 3 of 3
Private property rights should be defended. An entrepreneurial culture cannot be built on theft. Given that bankruptcy is a part of a healthy Capitalist system. The purpose of bankruptcy laws should be to encourage the recycling of capital assets to more productive activities.
It is a good thing that young artists and entrepreneurs want to move in and use idle land and empty buildings. The legal and financial environment should encourage that.
Detroit faces four problems.
1. The bankruptcy and environmental laws and regulations lead to abandonment or sequestration of unused property rather than its disposal in the market.
2. The semi-skilled Black American population that had thrived on the high wage auto industry is now unemployable which creates an atmosphere of violence and lawlessness that discourages in-migration of human capital and investment of financial capital.
3. Within Detroit that population is dependent on and is manipulated to support a corrupt political machine that fails to deliver basic services, such as justice and education. This impedes the ability of the local population to improve and become employable.
4. That corrupt Democratic Party in Detroit supports a Statewide political culture in alliance with the large Muslim population centered in nearby Dearborn and the sizable largely White Liberal populations centered in the Middle Class University communities. They reinforce each others interests in supporting policies both foreign and domestic that are unsustainable over time.