Freakonomics Radio 434. Is New York City Over?
Oct 8, 2020
Ed Glazer, a distinguished urban economist from Harvard and author of "Triumph of the City," delves into the aftermath of the pandemic's impact on New York City. He discusses the challenges of urban density, shifting population trends, and how the city is not likely to revert to its troubled past. Glazer highlights the resilience of urban life, the importance of effective governance, and innovative strategies for economic recovery. The conversation also touches on how collaboration and creativity can shape the future of this iconic metropolis.
AI Snips
Chapters
Books
Transcript
Episode notes
NYC's Vicious Cycle Risk
- Dan Doctoroff warns of a potential 1970s-style vicious cycle: shrinking population, compressed budget, and deteriorating quality of life.
- This cycle could accelerate pre-existing decline trends in NYC.
1970s Crisis Causes
- Historian Kim Phillips-Fein argues NYC's 1970s fiscal crisis wasn't solely due to government overspending.
- The recession, deindustrialization, and suburbanization played larger roles.
1970s Fiscal Crisis
- Urban flight in the 1970s shrunk NYC’s tax base while expenses remained high, leading to borrowing and a $3B shortfall.
- The "Ford to City: Drop Dead" headline epitomized the federal government's refusal to help.
