The City and the World: New York's Global Future.

• Author: Green, Jeffrey

Crahan, Margaret E. and Vourvoulias-Bush, Alberto, eds.

New York, New York: The Council on Foreign Relations®, Inc., 1997. (202 pp)

Reviewed by Jeffrey Green, General Counsel, Port Authority of New York and New Jersey, and former member of the GFOA Executive Board.

For at least the last quarter of a century, those of us who are committed to the City of New York, New York State, and the greater New York metropolitan area have heard a series of New York mayors describe the city as the capital or center of the universe. The City and the World: New York's Global Future, which contains a series of insightful essays, is based on the premise that New York City plays a central role in the rapidly evolving global economy. And, that for the United States to continue to remain competitive in that economy, New York City must play an increasingly positive role in our nation's economy and significantly contribute to making national economic policy decisions. The various essays contained in this book demonstrate that for the private sector, other regions of the country, and other countries to remain competitive in the global economy, they must not only understand the economy, but also understand New York City's role in it.

Topics include New York's private-sector economy, its public budget, access to the global marketplace, technology, demographics, and the globalization of crime, education, moral responsibility, culture, and civic commitment.

The essays discuss the challenges and opportunities facing New York with world commerce and banking growing exponentially at the same time as the technological revolution is changing the way we must do business. Although all of these changes have certainly caused some to question the future vitality of central business districts, the authors and editors all believe that the continued vitality of New York's economy is essential to the successful globalization of our national economy.

The book contains numerous examples applicable to other cities and businesses of how New York has prospered and has become significantly more important in terms of its impact on global finance, investment, foreign trade, and communications. This prosperity has come about despite all of the well-publicized problems of New York and other large urban areas.

The individual essays taken together confirm the point that the national political parties have not yet fully taken into account in their long-range strategies the results of...