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- Title
Finance and business services in New York City.
- Authors
Sassen, Saskia
- Abstract
After a decade of severe losses in manufacturing, consumer services and government jobs, New York City, New York State experienced rapid growth in finance and business services beginning in the late 1970s. One explanation is that this city has entered the post-industrial era. It would then represent an interesting case of economic renewal against the background of devastating declines in the Midwestern industrial region. The conceptual background for the article is the long intellectual history about the New York Metropolitan region which addresses both the conditions necessary for the particular forms of growth world cities make possible and the recurrent processes of dispersion of those same components of growth. This literature emphasizes the continued seed-bed function of major cities in the context of periodic cycles of overcrowding, congestion and emergence of agglomeration diseconomies, followed by partial resolutions through spatial dispersal. The theoretical and methodological stance organizing the discussion is that in order to understand the pronounced social and economic changes in major cities today one needs to examine fundamental aspects of the new world economy.
- Subjects
NEW York (N.Y.); NEW York (State); UNITED States; FINANCE; BUSINESS enterprises; INTELLECTUAL history; SOCIAL change
- Publication
International Social Science Journal, 1990, Vol 42, Issue 125, p287
- ISSN
0020-8701
- Publication type
Article