Early U.S. capitalism was centered in New England. After some time, the pursuit of profit led many capitalists to leave that area and move production to New York and the mid-Atlantic states. Much of New England was left with abandoned factory buildings and depressed towns evident to this day. Eventually employers moved again, abandoning New York and the mid-Atlantic for the Midwest. The same story kept repeating as capitalism’s center relocated to the Far West, the South, and the Southwest. Descriptive terms like “Rust Belt,” “deindustrialization,” and “manufacturing desert” increasingly applied to ever more portions of U.S. capitalism. More
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This content originally appeared on CounterPunch.org and was authored by Richard D. Wolff.