Urban Economics Of Nyc Essay

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New York City is a city of major diversity, where people all around the world can find there own space and call it home away from home. It is a city that has been thriving from the very beginning by its vast popularity in fields involving financial and business services and corporate management. Both financially and socially it has created its own unique structure to outstand any competing cities nationally and internationally. Some basic concepts of the study of urban economics can structurally condense the reasons behind its apparent growth and also can infer its possible downfall. Edward Glaeser’s, a Harvard professor who has researched the ideas and assumptions of the growth and decline of New York has dictated his thoughts in an article, “Urban: Colossus: Why is New York American’s Largest City?” where the history of its downfall and gradual rise has been so in the name of a few given facts in urban economics. Some of which are: the geographical location of New York which decidedly had become American’s port, the built and necessity of transportation, the rise in technology which has bought a direct effect to high end communication, the gradual rise of industries and its direct effect in harboring immigrants. Glaeser’s point of view on how New York had sustained its substantial growth and managed to build itself almost immediately after any significant downfall is a detail view of how New York was in the past and how it continues to be in the present. Today, ports that are water bound and assist in transporting goods (both import and export) are not a significant part in today’s world of trade and communication, rather ports such as the Hudson River and the Great Lakes are two important water beds that allowed New York to build itself to what it has become. In today’s world, people relay on faster means of trade and communication. Glaeser predicts that the

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