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
May 13, 2026 6:22 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
Rev. Robert Sirico: Reply to America Magazine
Anytime I can get a progressive/dissenting Catholic magazine/blog like the Jesuit-run America simultaneously to quote papal documents, defend the Magisterium of the Catholic Church, embrace the Natural Law and even yearn for a theological investigation “by those charged with oversight for the Church’s doctrine” of a writer suspected of heresy, I consider that I have had a good day. And to think that all this was prompted by two sentences of mine quoted in a New York Times story on...
Obamacare ruling ‘a turn to tyranny’
Fr. Hans JacobseOn the Observer blog (and picked up on Catholic Online), Antiochian Orthodox priest Fr. Hans Jacobse predicts that the Supreme Court’s Obamacare ruling will, “by the middle of the next generation” lead those who worked for this program — or ignored the threat — to be “cursed” by their own children. “The children will weep by the waters of Babylon, unearthing old movies and books of an America they never knew,” Jacobse writes. Antonio Gramsci, that great architect...
Samuel Gregg on the Supreme Court and the Individual Mandate
In response to the Supreme Court ruling on Obamacare’a individual mandate, National Review Online launched a symposium — a roundup mentary — which posed the following question: “What’s next for both conservatives and the Republican party on health-care reform?” Acton Research Director Samuel Gregg contributed this analysis: Leaving aside the arguments that will continue about the SCOTUS ruling on Obamacare, one response of those who favor free markets and limited government must be for them to start preparing themselves for...
‘We didn’t pick the time, nor did we pick the fight’
Most Rev. Joseph F. Naumann, D.D., Archbishop of Kansas City, Kansas On Catholic World Report, Carl E. Olson interviews Rev. Joseph F. Naumann, the Archbishop of Kansas City, Kansas, about the HHS mandate, the Ryan budget, and what the Supreme Court ruling means for the religious freedom fight. “There are always some people who feel that the Church is ing partisan and political in this,” Archbishop Naumann said, referring to a collective response to the HHS mandate covering provision of...
Initial Thoughts on the ‘Obamacare’ Decision
Obviously many people are disappointed in the Supreme Court’s ruling today. The decision was rather surprising for a number of legal and political reasons. Writing about the HHS mandate in an mentary in January, Dr. Donald P. Condit pointed to the moral threat that his health care legislation poses. Nothing has changed with today’s Supreme Court ruling. Condit wrote: With the passing of time, it has e painfully obvious how relativistic and clouded are this administration’s sense of ethics. The...
Text of the Obamacare Ruling
For those wanting to read the recently released decision, the Alliance Defense Fund has a copy of the Supreme Court decision on Obamacare. ...
Vocation Infusion Learning Community
This week, 40 pastors and church leaders are gathered to discuss important ideas of integrating faith, work, and vocation into our daily lives. Vocation is integral, not incidental to the missio Dei, the work that God has called us to do each day. The pastors and church leaders represent a diversity of evangelical traditions and geographic locations in the US. Over the next year, this group will meet for face-to-face retreats, field trips and a few webinars with the goal...
Bastiat’s Vision
This Saturday, June 30, is the 211th birthday of Frédéric Bastiat, one of the greatest political philosophers of the modern era. Considered among the founding fathers of classical liberalism, Bastiat is known for his simple and direct explanations of political and economic realities, his arguments against oppressive economic regulations and his clear and concise vision of a government of limited, enumerated powers, operating under the rule of law and unencumbered by favoritism or distributionist policies. Bastiat drew on his Catholic...
Growing Detroit
Renaissance Center (GM building). Creative Commons: paul (dex) bica via Compfight Some time back I argued that urban farming and the entrepreneurial spirit in Detroit was something that should be embraced rather than dismissed. Detroit mayor Dave Bing has given verbal support for urban munity farms in the past, but in many cases some regulatory hurdles remained and he was somewhat skeptical at times about the importance of large scale urban agriculture projects. But that ambivalence seems to be history,...
The True Social Contract
Uncontrolled public debt threatens to rupture society, says Niall Ferguson, as the older generation thrives at the expense of the young. In his Reflections on the Revolution in France (1790), Edmund Burke wrote that the real social contract is not Jean-Jacques Rousseau’s contract between the sovereign and the people or “general will”, but the “partnership” between the generations. He writes: “SOCIETY is indeed a contract… The state … is … a partnership not only between those who are living, but...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved