Life in the rustbelt
Book review: Hillbilly Elegy: A Memoir of a Family and Culture in CrisisTalk about poverty in the US and you’ll think of inner-city Detroit or Baltimore, says Matthew Partridge. But over the past decade, the areas that have done the worst are in the “rustbelt”.
Published by Harper Collins, £14.99
Talk about poverty in the US and you'll think of inner-city Detroit or Baltimore. But over the past decade, the areas that have done the worst are in the "rustbelt": former industrial towns in states such as Ohio and West Virginia, where jobs are scarce and life expectancy has been declining.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In Hillbilly Elegy, JD Vance tries to explain these areas' decline, by recounting his journey from a single-parent family to Yale, via the MarineCorps. The result is awell-written bookpowerfully underlining the way that changes in family structure have worsened the problems caused by increasing inequality and industrial decline.
It's also highly topical, since it was Hillary Clinton's failure to win over voters in these areas that helped propel Donald Trump to the presidency. The author's evident distaste for government intervention provides hints as to why many voters in the Midwest reject Democrat-backed policies that should logically benefit them, although it does little to explain what was so different about Trump that persuaded voters to back him.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.

-
Steve Webb: The triple lock is there to do a job. I’m not embarrassed or ashamed of itThe triple lock means 13 million pensioners will now get an above-inflation state pension boost in April. While the rising cost of the policy has stirred controversy, Steve Webb, who served as pensions minister when it was introduced, argues the triple lock is vital and should stay. Webb speaks to Kalpana Fitzpatrick on the new episode of MoneyWeek Talks – out now.
-
How retirement pots risk running out 11 years early if inflation remains highPension savers could find their retirement income may not last as long as they anticipated over fears that inflation may not slow down