How New York City Can Be Restored to Economic Health

Serial Information: Civil Engineering—ASCE, 1978, Vol. 48, Issue 11, Pg. 91-92

Document Type: Feature article

Abstract: To be restored to economic and fiscal health, New York City will have to make some fundamental reforms. The overall strategy is to obtain slack resources, then to invest these resources in a way that promotes private economic development — e.g., cutting taxes, reducing debt, repairing deteriorated infrastructure, etc. Among other needed reforms: shedding responsibilities like hospitals, the City University, and housing and mass transit to the state; federal takeover of welfare and Medicaid; further workforce reductions; pension reform; and a vastly improved management system.

Subject Headings: Deterioration | Economic factors | Financial factors | Financing | New York City | Urban areas

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