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Video: The preventable tragedy of Detroit

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A vacant, boarded up house is seen in the once thriving Brush Park neighborhood with the downtown Detroit skyline behind it in Detroit, Michigan on March 3, 2013. Image source: REUTERS/ Rebecca Cook

"Detroit developed best when it was bottom-up," says Harry Veryser, economist and professor at University of Detroit Mercy and author of "It Didn't Have to Be This Way: Why the Boom and Bust is Unnecessary and How Austrian School of Economics Breaks the Cycle."

"When small communities, small parishes, small schools were formed... that's when Detroit prospered."

Via Reason.tv, Veryser talks about how economics can fix the Motor City:

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