Thursday, October 30, 2008
The decline of manufacturing in NYC
And there's more here: Uncertain Industry
And the NY Times chronicled preservation efforts this week.
From the Nation:
At the same time the City is destroying the small industrial enterprise that creates employment, it is subsidizing Manhattan real estate. This year it is handing out a half a billion dollars in subsidies to organizations who do not need them, some of which are as frivolous as Major League Baseball. Gotham has bet big on the service economy, particularly the finance part of it, and as a result there could be a loss of 165,000 jobs in the next couple of years.
What New York City has been doing, so has the nation: misdirecting capital, energy and invention away from productive enterprises into activities that put no food on the table. With nothing to sell to foreigners, we have become a nation that borrows from them to pay for both necessities and luxuries. A nation that cannot earn its own living is in for a long, painful decline.
Bloomberg Beats Democracy