The coronavirus pandemic and the climate crisis have laid bare how untenable it will be to continue living in a world unspooled by suspicion and divisionA large group of New York business leaders, all with pedigrees and some of them well-known, sent up a flare over City Hall late last week.
De Blasio, presiding over a city with divergent views among residents of how dire conditions actually are, responded on Twitter: “We’re grateful for our business community and are partnering to rebuild a fairer, better city. Let’s be clear: To restore city services and save jobs, we need long-term borrowing and a federal stimulus — we need these leaders to join the fight to move the City forward.
If the business community’s traditional antipathy towards higher taxes and a more forceful government hand leaves it on the sidelines, it won’t be able to help forge public-private partnerships that could help New York surmount an epic existential crisis that threatens their bottom lines and their employees’ wellbeing.
The group also recognises the brutality of the pandemic’s downdraft in New York: a local unemployment rate expected to average out at about 9.8% for 2020; a million financially distressed households, concentrated in communities of colour and low-wage workers; about a third of the city’s 230,000 small businesses possibly shuttered permanently; corporate sectors of the local economy, particularly real estate, threatened; and 1.2-million office workers operating remotely until Covid-19 abates.
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