How to Grow New York's Economy

Ed Glaeser argues that given the right conditions, start-ups can drive the city's economic future.

Historically, entrepreneurship has been a key element of New York's economic success, says Glaeser, but in recent times the city has become overly reliant on a single industry: finance. He argues that with a 9.6 percent unemployment rate (slightly higher than the national average), the city should focus on minimizing regulations that make it difficult to start new businesses and attracting smart, creative residents.

Glaeser writes:

"New York's economy will never recover from the downturn by trying to compete with China's labor costs or with Houston's housing costs...Rather, New York's success will depend on its ability to produce a steady stream of new products and ideas."

Full Story: Start-Up City

Comments

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $199
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $14.95 a month
DVD Cover of The Story of Sprawl

The Story of Sprawl

See how America changed shape in this collection of historic films that visually document how sprawl evolved.
$29.99 for 2-DVD SET
T-shirt with map of Chicago

Show your city pride

Men's Ultrasoft CityFabric© tees. Six cities available.
$23.00