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New York’s cultural economy, Art and the city

WHEN New York agonises over its place in the world, it is usually because it fears losing its position as the world’s financial capital. That has certainly been the case in recent months. Yet Elizabeth Currid thinks that policymakers should be fretting less about credit markets and more about culture. The contribution made by art, music and fashion to the city’s economy has, she argues, long been overlooked. And unless something is done about it, another crown could slip.

New York depends on art and culture not only for the quality of life but also for jobs. Culture ranks only slightly behind the securities industry in its share of the workforce. One example: the city is not far behind Los Angeles in film and video production and editing. Read more...

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