Home
/
RELIGION & LIBERTY ONLINE
/
Why J.D. Vance is bringing venture capital to the Rust Belt
Why J.D. Vance is bringing venture capital to the Rust Belt
Jan 11, 2026 6:33 PM

As Americans continue to face the disruptive effects of economic change, whether from technology, trade, or globalization, many have wondered how we might preserve or revivethe regions that have suffered most.

For progressives and populists alike, the solutions are predictably focused on a menu of government interventions, from trade barriers to wage minimums to salary caps to a range of regulatory constraints.

For conservatives and libertarians, the debate has less to do with policy and more to do with the arc of the individual choices at stake — namely, whether displaced workers should remain and re-invest in their munities or simply pack up and move to where prospects look rosier.

Last winter, Kevin Williamson lit a fire of sortsthat put the core, intra-conservative debate on full display, arguing heavily on the side of geographic mobility for the poor. “If the work is ing to the people, then the people have e to the work,” he wrote. “There is not a plausible third option.”

The subsequent debateincluded thedividing lines peting conservative camps that e to expect: “localists” vs. “traditionalists” vs. munitarian conservatives” vs. “dogmatic free marketeers,” and so on. Yet amid the tension about Williamson’s Option #2, and whether there’s an Option #3, conservatives are prone to forget that there’s plenty we can do with Option #1: Bring work to the people.

At least, that’s the strategy of J.D. Vance, author of the bestselling book, Hillbilly Elegy, which mixes memoir with social analysis to explorethe landscape of hisworking-class upbringing. (See Ray Nothstine’s reviewfor more.)

Now, after the success of his book and a stint as a venture capitalist in California, Vance plans to return to his home state of Ohio, where he’ll seek to invest in “neglected areas of the country,” from the Rust Belt to Appalachia.

In a recent Ricochet podcast, Vance counters the false choice that headlines the current debate, noting that while many of these areas have plenty of struggles, they also have plenty of untapped opportunity and human potential:

There’s a mistake in treating it as an either-or proposition, that you either have pletely discourage all geographic mobility or that you have pletely give up on these towns…

On the private sector side, I do think that there’s a real business opportunity in the fact that you have really significant differences in regional growth curves. When you think about, for example, that 80% of the venture capital goes to California, Massachusetts, and New York, I don’t necessarily think that 80% of the good business ideas are in those three states. I think there’s both an opportunity to do some good, but there’s also a market arbitrage opportunity in that really heavy capital focus in certain regions of the country.

Ohio may not be the next Silicon Valley, Vance continues, but it may have the potential to be the next Austin or Denver, offering fresh and innovative ideas to a country that’s consolidated and concentrated its wealth in coastal cities. “Is there an argument that there is good capital to be put to work, that there are good entrepreneurs to invest in in these areas, where you can make a good return, but also create good businesses in the process?” he asks. “I think the answer is yes.”

In the past few weeks, I’ve highlighted early evidence of such a shift, from Bluefield, West Virginia, to Cincinnati, Ohio. Yet, as Vance reminds us, this doesn’t mean that “moving home” or “investing back home” or “buying local” is a one-size-fits-all solution. Again, the beauty of Vance’s approach is that it doesn’t ignore the weight of the pressures at play, just as it doesn’t pretend that artificial

In a set of reflections on his decision to move back home, Vance emphasizes plicated web of decisions and exchanges that surround each of our vocational journeys, and the ways that geographic mobility can sometimes be the enabler of bringing us home.

Of course, not every town can or should be saved. Many people should leave struggling places in search of economic opportunity, and many of them won’t be able to return. Some people will move back to their hometowns; others, like me, will move back to their home state. The calculation will undoubtedly differ for each person, as it should. But those of us who are lucky enough to choose where we live would do well to ask ourselves, as part of that calculation, whether the choices we make for ourselves are necessarily the best for our munities — and for the country

It may very well be that Williamson is right: “If the work is ing to the people, then the people have e to the work.” The rate of geographic mobility is down, and both Williamson and Vance agree that this is represents its own range ofproblems.

But as we look for ways to spur municate the idea or the option geographic mobility tothose who feel trapped, we’d do well municate the same to those who fortably in the bastions of wealth. Surely they’ve developed their own set of blind spots and insular methods ofself-preservation.

Help the poor relocate? Yes. Help investors and entrepreneurs see economic opportunity where manyrefuse to look? Yes, indeed.

Photo: Abandoned Factory, Travis Wise(CC BY 2.0)

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
1 week to GodblogCon 2008
We are one week away from the beginning of GodblogCon 2008. For the second year in a row the Acton Institute is a sponsor of the event, and we’re proud be be a part of the premier gathering of bloggers and new media connoisseurs. Other sponsors include the founding institutions behind GBC, Biola University and the Torrey Honors Institute. Crossway Books & Bibles, which is publishing the ing Stewardship Resource Bible, is also a sponsor of the event (Acton research...
Birth of Freedom Shorts series: Inventions in the “Dark Ages”
In this, the third video in Acton Media’s series of shorts panying its latest documentary The Birth of Freedom, Glenn Sunshine demonstrates how belief in human dignity spurred invention and innovation during the middle ages. Acton Media’s video shorts from The Birth of Freedom are designed to provide additional insight into key issues and ideas in the film. A new short is released each Monday. Check out the rest of the series, learn about premieres in your area, and discover...
The foundations of understanding the market, understanding man
I am a great fan of “back to basics.” This is because the general population does not know what the educated person of my youth knew. Let’s take college education. The undergraduate university I attended had a heavy core curriculum. In philosophy alone there were five required courses in sequence. I would minoring with 21 credits. In theology there were four, again in sequence. In history there were three—two in sequence and one of the student’s choice. In political science...
Patent manipulation
As I’ve said before, some of the most interesting debates are those that break down along atypical lines: for example, by splitting dedicated limited government advocates rather than pitting them against statists. Back in 2001, the Journal of Markets & Morality conducted a controversy between two libertarian-leaning economists, Julio Cole and Paul Cleveland, concerning copyright and patent law. Last year, we published a Christian Social Thought Series volume on intellectual property rights by David Carey that e down squarely on...
The rise and fall of Kwame Kilpatrick
There’s a good read from a state politician familiar with Kwame Kilpatrick, the former Detroit mayor accused of all manner of illicit activity, in the Sep. 12 newsletter (PDF) from Michigan state senator Mickey Switalski (D-Roseville). Switalski’s newsletter is one of the best and is atypical among state politicians, because he writes the content himself. Before his current run as a state senator, Switalski was a state representative during Kilpatrick’s tenure as Democratic Floor Leader, the #2 position in the...
The Call of the Entrepreneur will air on Fox Business Channel
Mark your calendar! The Fox Business Channel is featuring The Call of the Entrepreneur at the following times: · Saturday, September 27 5:00 – 6:00 PM EST / 2:00 – 3:00 PM PST · Sunday, September 28 12:00 – 1:00 AM EST / 9:00 – 10:00 PM PST To find your local station visit the FOX channel finder. To find out more about the movie, discover related materials, and learn how to host your own screening, visit The Call of...
Salon.com and Augustine on kids
There’s a pretty entertaining piece on by Christopher Noxon, “Is my kid a jerk, or is he just 2?” There’s mild language, but the gist of the piece revolves around this observation: As much as it goes against the current mode of progressive, project-management-style parenting, I take it for granted that some kids are trouble right out of the gate. They’re the preschool gangsters and playground terrorists, flicking boogers and insults at those they’ve identified as too weak to fight...
Birth of Freedom Shorts series: Judaism and human rights
The second in Acton Media’s series of shorts panying its latest documentary The Birth of Freedom, this new video asks the question, “How has Judaism contributed to human rights?” In the video, John Witte Jr. demonstrates how the teachings of Judaism significantly impacted the western understanding of human rights, contributing the foundations for concepts such as human dignity, due process, and covenantal agreements. Acton Media’s video shorts from The Birth of Freedom are designed to provide additional insight into key...
Sarah Palin’s controversial prayer appeal?
The Associated Press has an article reporting on controversial statements made by Governor Sarah Palin at the Wasilla Assemby of God church in Wasilla, Alaska. Governor Palin makes an appeal for prayer about troops in Iraq declaring, “Our national leaders are sending them out on a task that is from God, that’s what we have to make sure that we’re praying for, that there is a plan and that plan is God’s plan.” She also made an appeal for students...
Heritage Foundation: First Principles & Public Policy Symposium
The Acton Institute is co-sponsoring a symposium hosted by The Heritage Foundation at the University of Michigan’s campus. The event will take place: Tuesday, September 30, 2008 at 12:45 PM Michigan Union Building 530 South State Street Ann Arbor, Michigan The future of liberty depends on reclaiming America’s first principles. What are those principles, and what do they mean for today? The First Principles Initiative is one of the 10 Transformational Initiatives making up The Heritage Foundation’s Leadership for America...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved