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

Build Your Own Paper Block City

Urban Fold is an all-inclusive kit that allows anyone to build the city of their dreams with a few simple folds.
$24.95
building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25
Book cover of Unsprawl

Unsprawl: Remixing Spaces as Places

Explore visionary, controversial and ultimately successful strategies for building people-centered places.
Starting at $12.95
Wood necklace with city map

City Necklaces

These sweet pendants are engraved on a cedar charm with a mini map of selected cities. The perfect gift for friends and family or yourself!
$28.00