The demographics and politics of economic decline in New York City.

Abstract

New York City's economy has been declining since 1969. Although this decline is usually discussed with reference to interregional shifts in population and the migration of industry to the South and West, the root causes can be best understood in terms of the changing demographic, political and economic matrix of the City combined with short-sighted public policies toward business development. After explaining some important aspects of the “political economy” of economic erosion in New York City, the paper suggests several local government policy alternatives that might help to reverse the tide of economic decline.