Resetting New York’s Economy

New York University recently issued a study called “New York City: The Great Reset” that took a look at changes in New York’s economy since the 9/11 attacks. As the name implies, Richard Florida, who holds a professorship at NYU, was a contributor to the city.

I wrote up a piece about the study, which is now posted over at City Journal. Here’s an excerpt:

It’s easy to take the safety and prosperity of present-day New York City for granted, but over the last 15 years, any number of events could have derailed its success. The dot-com recession of the early 2000s hit the city’s tech industry hard. The 9/11 attacks could have sent people and businesses fleeing permanently. Rudolph Giuliani could have been succeeded by a mayor who rolled back the city’s remarkable progress. The 2007 financial crash could have dealt a body blow to the city or triggered the kinds of budget crises and service cuts that affected many other cities. Hurricane Sandy could have been even worse than it was. And so on.

Despite these setbacks, New York has continued to boom.

Click through to read the whole thing.

from The Urbanophile


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