Appliance manufacturer Electrolux closed its Webster City, Iowa, plant in 2011. Now, the retraining programs for former workers are wrapping up, and the town of 8,000 is bracing for the true impact of the closure. It's a familiar story for many former manufacturing towns across the Midwest.
Residents in Memphis, Tenn., are thrilled that Swedish appliance giant Electrolux is opening a new factory there this year. The company plans to employ 1,200 people at the new, high-tech facility. But in Webster, Iowa, an Electrolux plant closure in 2011 has left the local economy reeling.
In a new book, Washington Post economics writer Neil Irwin looks at an elite group of policymakers from around the world who manage the money supply, and explains how money can come from — and disappear into — thin air based on the decisions of these influential men and women.
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