Janesville: The decline of the American Dream

The Investor Download

Janesville, in Winsocsin, was once the epitome of the American Dream. But everything changed following the global financial crisis when General Motors, the business that provided the town with most of its wealth, shut its plant.

On today’s show we have Amy Goldstein, the award winning author of the FT Business book of the year, Janesville.

Amy spent 36 years as a journalist at The Washington Post writing widely about social issues. Among her awards, she shared the 2002 Pulitzer Prize for national reporting. She now works for the Brookings think tank.

Amy joined me to discuss the story of Janesville, a town built on the back on one industry, one company. And what happens to the town and the people of that town when the heart of its economy is ripped out.

And it’s not just about a small town in Wisconsin, this is a larger story of the hollowing out of the middle class and businesses responsibilities to the communities they serve.

RUNNING ORDER:

01:17 - Part one: The story of Janesville

14:00 - Part two: The fallout

20:22 - Part three: what makes an award-winning book

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