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 28, 2026 8:19 AM

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
Speaker Pelosi on San Francisco economics & values
The Business and Media Institute highlights House Speaker Nancy Pelosi’s response to a question about why conservatives and advocates for the free market degrade San Francisco as a city out of step with mainstream America. Pelosi believes it’s all about economics, and she points to the fact that government regulation and government programs in San Francisco are the model for America, and advocates for free markets are afraid of other citizens recognizing that. Pelosi says: In San Francisco, every child...
Election quandary for Catholics
Robert Stackpole of the Divine Mercy Insititute offers a thoughtful analysis of the positions of the major presidential candidates on health care at Catholic Online. I missed part one (and I don’t see a link), but the series, devoted to examining the electoral responsibilities of Catholics in light of their Church’s social teaching, is evidently generating some interest and debate. Stackpole’s approach is interesting because he tries to steer a course between the two dominant camps that have developed over...
Acton Media Alert – Dr. Jay Richards on KKLA
Acton Research Fellow and Director of Media Dr. Jay Richards was on The Frank Pastore Show on KKLA in Los Angeles last night. Frank and Jay discussed the attempt to redefine the term “pro-life” in such a way that a pro-abortion candidate can claim to be “pro-life” in spite of their support for abortion; they also took a look at Barack Obama’s legislation that mit billions of dollars to the reduction of global poverty. You can listen to the discussion...
Pope Benedict’s human ecology
In his weekly column, the National Catholic Reporter‘s John Allen notes Pope Benedict XVI’s references to the environment during the recent World Youth Day events in Australia. Allen writes: Although the point didn’t get much traction amid the pageantry of World Youth Day, it’s a striking fact that the most frequent social or cultural concern cited by Pope Benedict XVI in Australia was the environment. The pope talked about ecological themes seven times. [snip] If there was a distinctive twist...
Global Warming Consensus alert: Flame on!
It must be tough to be Al Gore sometimes. We all know that the weather has a habit of not cooperating with his “major addresses” on global warming; how many times have his big pronouncements been panied by major snowstorms? Presumably, it would be better to try doing one of these speeches in the middle of summer, when you’re less likely to be iced out by the weather. But wouldn’t you know it – just when Gore gets his sweltering...
Can the Pope save the art of reading in Italy?
In the July 24 edition of the Vatican newspaper L’Osservatore Romano , a couple of articles related how Italians are reading less than their European counterparts, with 62 percent of the population failing to read even a single book during the year. “Above all, reading increases innovative capabilities, the ability to understand phenomena and in the ultimate analysis, worker productivity,” said Federico Motta, president of the Italian association of publishers. According to Motta’s article, only 31 percent of Italian 20-29...
CRC Sea to Sea tour week 4
The fourth week of the CRC’s Sea to Sea bike tour has pleted. The fourth leg of the journey took the bikers from Salt Lake City to Denver, a total distance of 478 miles. The “Shifting Gears” devotional at the beginning of this week focuses especially on the relationship of the church to culture. On day 22, the devotion notes that the “crucial pillars of civilization–education, family, government, and science–are in a state of decline and disrepair.” This may seem...
Swinburne on God and morality
Last week I attended a lecture on the campus of Calvin College given by Richard Swinburne, Emeritus Nolloth Professor of the Philosophy of the Christian Religion, University of Oxford. His lecture was titled, “God and Morality,” and was the fourth in a series of lectures for a summer seminar, “Science, Philosophy, and Belief.” The seminar was focused on the development of Chinese professors and posgraduate students, and included lectures by Sir John Polkinghorne, Alvin Plantinga, and Owen Gingerich. Swinburne, who...
It’s bad when he says it
When Iranian President Mahmoud Ahmadinejad makes a public claim it’s typically controversial. So the AP filed a story with this headline in the Jersualem Post, “Ahmadinejad blames West for AIDS.” Clearly the JP went for shock value, as most other outlets chose to title the story something like, “Iranian president: ‘Big powers’ going down.” But there it is among a bunch of other accusations that Ahmadinejad leveled at a meeting of the Non-Aligned Movement (NAM). According to the AP, “Ahmadinejad’s...
City Journal: The science of economics
The Summer issue of City Journal features a piece worth reading by Guy Sorman titled “Economics Does Not Lie.” The paper includes weighty arguments favoring a free market economic system and the author does a good job explaining the rationale of those who criticize a free economy. Sorman says: If economics is finally a science, what, exactly, does it teach? With the help of Columbia University economist Pierre-André Chiappori, I have synthesized its findings into ten propositions. Almost all top...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved