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Message: <blockquote data-quote="bigbadwolf" data-source="post: 279674" data-attributes="member: 722">At the end of WW2, New York City, with its environs, was a manufacturing hub. But the jobs steadily left, initially to the non-unionised US south, and later to Mexico. NYC's financial crisis of 1975 provided the raison d'etre for neoliberal reforms (which were later extended to the USA as a whole). NYC reinvented itself as a services hub -- finance, entertainment, restaurants, education. But entertainment and restaurant have gone down the drain and will arguably never come back. Finance can now be conducted from anywhere (and now is, with finance professionals working "from home" in different states). The NYC of old is not coming back -- no reason it should. Its time is over. The new NYC will probably be smaller in population, and poorer -- both in the aggregate and per capita.What COVID has done is accelerate underlying trends.</blockquote>