Posts Tagged ‘New York’

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source [ht: jp]

According to the BBC special report on “Wealth Without Borders,”

To be wealthy is to be mobile. And with so many HNWIs now able to move around the globe at will, certain international destinations are proving a magnet.

Why is 21st century wealth so much more fluid than in, say, the 1980s? The spread of English as the global language of business has substantially lubricated the movement of wealth. Global communications have also played a part. The internet and mobile telecommunication means that the business traveler can now stay in touch wherever they are in the world. The rise of multinationals means that intra-company promotions now result in expatriate moves for many high echelon employees. More importantly, globalisation of finance has had the result that key financial hubs (New York, Tokyo and especially London) are now critical, regardless of parental company.

The key, of course, is that certain cities—New York, Tokyo, London—have been made into machines for capturing shares of the surplus produced throughout the world, and thus playgrounds—with the appropriate financial institutions, property, and security—for the world’s high net-worth individuals.

Protest of the day

Posted: 30 November 2012 in Uncategorized
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A protester holds up a sign at a demonstration outside McDonald's in Times Square in New York

Fast-food restaurant employees, many of whom work for minimum wage, protested in New York City on Thursday demanding higher pay and the right to form a union as part of a movement called “Fast Food Forward.”

 

“Park Avenue: Money, Power & the American Dream” [ht: mfa], the latest installment of PBS’s Independent Lens, is being shown this evening.

Check your local listings.

Sylvia Woods RIP

Posted: 20 July 2012 in Uncategorized
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I can still taste the fried chicken I had at Sylvia‘s when a friend took me there for lunch a couple of years ago. . .

 

[ht: mg]

The concerns expressed in and by the Occupy Wall Street movement on behalf of the 99 percent didn’t begin in 2011. They can be traced back at least to 1765.

Kara Masciangelo and Jame McAndrews, of the New York Fed, have unearthed a 1765 letter to the editor of the New-York Gazette. It reads in part:

Some Individuals of our Countrymen, by the Smiles of Providence or some other Means, are enabled to roll in their four–wheel’d Carriages, and can support the Expence of good Houses, rich Furniture, and Luxurious Living. But, is it equitable that 99, or rather 999 should suffer for the Extravagance or Grandeur of one? Especially when it is consider’d, that Men frequently owe their Wealth to the Impoverishment of their Neighbours; so that it would be most unjust to suppose a People generally to be rich because some wealthy Men live among them.

The blockbuster exhibit “Art in the Streets,” currently showing at the Museum of Contemporary Art in Los Angeles, will not be traveling to the Brooklyn Museum.

Apparently, the Brooklyn Museum Director Arnold L. Lehman has made the decision to cancel the planned 2010 show “due to the current financial climate.”

It’s a sign of our times that, while the current crises have not slowed the tendency to fill our public spaces with corporate advertising, a show documenting another, noncapitalist way of creating images within those spaces—a movement that actually began in New York—simply can’t get the necessary financing within that city.

Trash talkin’

Posted: 18 January 2011 in Uncategorized
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Robin Nagle knows how to talk trash. She teaches at New York University and is the anthropologist-in-residence at New York City’s Department of Sanitation.

One of the pleasures of a long road trip is to listen to lots of different radio programs and to stumble on interesting stories. An interview with Nagle was one of my better finds.

Why have we created a global economy that generates such vast quantities of waste? That’s rooted in the basic structures of capitalism, which requires perpetual renewal to continue to generate profit at the pace that is now understood to be necessary for local, regional and global economic health. It’s the rhythms of our economic structures that have set up these patterns.

What are some surprising things you’ve learned by analyzing garbage? In affluent neighborhoods, I was profoundly impressed with how much good stuff rich people throw away.

One of Nagle’s largest current projects is to build support for a Museum of Sanitation in New York.