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Developmentalism in the Big Apple

Cost of living has skyrocketed in New York, but under fatcats Giuliani and Bloomberg, the working man’s wage has not

By Steven Wishnia

Thirty years ago, you could easily find a one-bedroom apartment in a middle-class neighborhood in New York City for $150 a month. Today, it would cost more than $1,500—more than what Yankees slugger Reggie Jackson, then baseball’s highest-paid player, paid in 1977. His Fifth Avenue apartment with a balcony overlooking Central Park cost $1,466 a month. And the minimum wage… return to article

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