The Distant Patron: Why American Towns Have Always Trusted the Investor Who Was Never Coming Back
From railroad speculators to venture capitalists, outside money has repeatedly reshaped American communities in ways that local wealth, concentrated in local hands, never managed to accomplish. The pattern is not a coincidence of economics. It is a predictable consequence of the way human communities relate to power, distance, and the psychology of self-doubt.
Oct 18, 2026