Bloomberg In New York City

975 Words2 Pages

Prior to the 1970s New York City had an economy which was based on governmental aid to the poor and the working class. However, during the 1970s NYC was experiencing a fiscal crisis and was at the brink of bankruptcy. The deterioration of the city allowed for Mayor Bloomberg to shift from a liberal government to a neoliberal government. His neoliberalism view consisted of a society shaped by the free market and an economy that should be deregulated and privatized. Simply put, run NYC as a business and the government shouldn’t interfere in business affairs. He believed that the only way to pick NYC back up was by allowing the elites to impose a business-friendliness attitude. Therefore, his entire administration and policies focused on supporting …show more content…

Even though, NYC was becoming expensive and unaffordable, Bloomberg was able to bring in wealthy people. Because of his strong desire to run New York City as a business, he came up with the strategy of branding New York City as a luxury item. He thought that if he could brand NYC as a luxury item, those who can afford the item will be able to buy and invest in it. Bloomberg presented NYC as the best product anyone could want and, in turn, changed the way people viewed the city. The city wasn’t viewed as garbage anymore, but as a distinct and unique city capable of attracting high-end companies. Branding NYC as a luxury item was a brilliant idea. Mayor Bloomberg was able to take the city’s weakness and turn it into its strength. The glorification of the city attracted numerous businessmen and companies. Everyone wanted to live and do business in NYC, regardless of how expensive it was. However, the luxurious item was only accessible to the rich and wealthy businesses. Those of the working class didn’t …show more content…

Mayor De Blasio’s vison entailed “tak[ing] dead aim at the Tale of Two Cities. He wanted NYC to succeed as ‘One City’ and bring back hope into the city. The only way this was possible was by, having the entire city work together and push a Progressive agenda. In contrast to Bloomberg’s vision, De Blasio thought that there should be more federal government regulation in societal issues (economics, social, political). Wallace concurs with De Blasio, in that big business shouldn’t be able to run NYC because at the end of the day, big businesses do everything out of self-interests and at the expense of the poor and working classes. Wallace argues that NYC should make different and better decisions and invest in more working class and middle-class industries and jobs. In addition, he thinks restoring alphabet agencies (from the 1930s) will channel federal money to states and localities, allowing the agencies to hire the unemployed and put them to work. Thus, it is the federal government who should be in charge of providing funding. And it the federal government who can remedy socioeconomic inequalities, not big

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