We said this in October of last year:
“Detroit is crashing badly. It can’t pay its bills. It basically can’t even function. It has little to lose at this point. How about we declare Detroit an economic “free-zone.” No taxes, private everything, and see how it does. I’m not kidding. Why not let the market do its thing and revitalize the city, or at the very least help it convert from open economic sore, to a net contributor. It sits right at the Canadian border. This is a huge advantage for trade. What does it have to lose?”
Now the boys at Mises.org (and we are fans) are making the same argument and we welcome them. Make Detroit a free city. Make it an economic fee zone. What does the city have to lose? Again, absolutely nothing.