by Elliott Morss, Morss Global Finance
Editor’s note: While this analysis is specific to the Berkshires, it has elements in common with many rural areas in the U.S. that are experiencing economic retrenchment and population declines.
I live in The Berkshires, a small region in the mountains of western Massachusetts. It is bounded by declining industrial towns to the north (Adams North Adams and Pittsfield,) and a former whaling town to the south (Hudson). Efforts to revive these towns have not been successful.