Erie's comeback story isn't a tale told overnight. Rather, it's a years-long wrestling with a question facing a lot of legacy cities: Where do we go from here in a postindustrial world? And, perhaps more pressingly, who do we want to be now that we must shift if we're to, at the least, survive or, at the most, thrive? Outfitted infrastructure-wise for what was to be anticipated growth, Erie built itself out to be the home of 150,000 residents. The city saw its population rise throughout the mid-20th century and peak in the late '60s, edging in on 140,000. After that, it's been a story of decline, and today hovers around 100,000.
Cities will be on the vanguard of creating new norms and models for financing the recovery. As Keith Mestrich and Mark Pinsky wrote in their recent book "Organized Money," we need to bolster not only the financial literacy of individuals but the "financial system literacy" of cities and their stakeholders so that capital can be deployed at scale for inclusive and sustainable ends post-crisis. 2b1af7f3a8