New York in the Late 20th Century
By Phin Upham
In some ways, examining the history of New York is like peering into the center of a tree. The stump, with its successive rings, denotes the length of time a tree has stood. Each ring is like the tree rebuilding, becoming stronger and wider as it claims its place in the forest. Perhaps New York is like those rings, with each successive decade or century symbolizing a new era of growth for the city.
During the 19th century, New York was a hotbed for immigration. This fueled tremendous growth in several markets, like construction or shipping, as the influx of low-skilled workers willing to work hard settled within the city limits.
The city experienced several key changes during World War II that altered the population makeup in the city. The first change was the suburbanization of New York state, which pushed some workers out of the city boundaries and into surrounding areas.
Fast forward to the 1950s, when transportation infrastructure began seeing the light of day, and it became more affordable (and practical) to commute from all over the tri-state area. One would think this would fuel a boom, but the economy was fairly stagnant all throughout the 1970s. Low-income housing projects attracted a seedy element, and New York City became a dangerous place into the mid 1980s.
Conflict, it seems, also breeds art and culture. Shortly after this extended period of stagnation, New York arose during the latter portion of the twentieth century as a media powerhouse. Broadway became a household name again, hip hop was born (following the incredible Harlem Renaissance and jazz movements), and New York re-imagined itself as a media powerhouse.
Phin Upham is an investor from NYC and SF. You may contact Phin on his Phin Upham website or Twitter page.