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While researching this issue of The American Enterprise I spent much of one day walking across the South Bronx. (Never let it be said that editor of a magazine is a cushy job; I ended up with blisters on both feet the size of quarters!) When I was passing through New York City frequently in the late 1970s and early 1980s on my way to and from college, the South Bronx was, literally, a war zone. There were famous police-escorted visits by Jimmy Carter and Ronald Reagan, who stepped from their limos to peer at burned-out buildings and pronounce the scene reminiscent of a bombed cityscape after World War II. Over a period of a decade or two the area was abandoned by 300,000 ...