"Detroit developed best when it was bottom-up," says Harry Veryser, economist and professor at University of Detroit Mercy. "When small communities, small parishes, small schools were formed… that's when Detroit prospered."

Veryser, author of It Didn't Have to Be this Way: Why The Boom and Bust is Unneccessary and How Austrian School of Economics Breaks the Cycle, sat down with Reason TV to talk about his experience growing up in Detroit, what went wrong, and how to fix it.

Approximately 5 minutes. Produced by Zach Weissmueller. Camera by Tracy Oppenheimer.

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