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Freakonomics Radio

434. Is New York City Over?

Freakonomics Radio

Freakonomics Radio + Stitcher

Documentary, Society & Culture

4.632K Ratings

🗓️ 8 October 2020

⏱️ 49 minutes

🧾️ Download transcript

Summary

The pandemic has hit America's biggest city particularly hard. Amidst a deep fiscal hole, rising homicides, and a flight to the suburbs, some people think the city is heading back to the bad old 1970s. We look at the history — and the data — to see why that’s probably not the case.

Transcript

Click on a timestamp to play from that location

0:00.0

More than 200,000 people have died from COVID-19 in the US, and there is a common sentiment

0:08.0

that New York City is on its deathbed too.

0:11.2

It was, after all, the American epicenter of the pandemic with more than 20,000 people

0:16.4

dead in nearly a quarter million positive cases.

0:20.2

It also had a shutdown that showed just how reliant the city's economy is on the very

0:24.7

things that are most discouraged during a pandemic.

0:28.5

Hacked Broadway theaters and subway cars, packed restaurants and sidewalks, packed offices

0:34.5

and co-working spaces.

0:36.8

Over the summer, New York's COVID rates fell dramatically.

0:40.6

Schools recently reopened, and even restaurants have been approved to resume indoor dining

0:45.1

at reduced capacity.

0:47.1

But infection rates have begun to tick up again, which may lead to a second shutdown,

0:53.3

which would pile on atop all the economic damage that's already been done.

0:58.5

So could the density that has historically driven a city like New York also drive it

1:04.6

toward extinction is New York City, and as a New Yorker.

1:09.2

I don't even like to say this aloud, but is New York City over?

1:14.3

Over my dead body is New York City over.

1:17.6

But what about the data?

1:19.2

The city is projecting $67 billion deficits out as far as the eye can see.

1:26.5

People are concerned about what appears to be an increase in homicide rates.

1:31.8

Well if we have people work from home, that home could be anywhere.

1:36.4

No, New York City is not over.

...

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