By Julian Brash
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Extra info for Bloomberg's New York: Class and Governance in the Luxury City
First, many of the private-sector elites who engineered the resolution of the fiscal crisis and who were prominent in maintaining the post– fiscal crisis consensus were not free market ideologues like Ronald Reagan or Margaret Thatcher. Many, including Felix Rohatyn, were self-described “liberal Democrats,” embracing a relatively prominent role for government in sparking and directing economic growth; in sustaining an effective, if scaled-back, and “affordable” welfare state; and in creating a legitimate, if again scaled-back, role for unions (Lichten 1986, 197–202; Rohatyn 1983a, 2009; Ross 1987).
The end of the nineteenth century, for instance, saw prominent private-sector elites, spurred by economic depression and corruption, organize a “Committee of Seventy” to support the election of William Strong, a prominent merchant who promised to “run the city purely on ‘business principles’” (Burrows and Wallace 1999, 1194). The next few decades saw this dynamic repeat itself as coalitions of middle-class reformers and private-sector elites periodically pushed back against the “excesses” of political machines more friendly to working-class interests and supportive of higher levels of municipal spending (Shefter 1992).
However, it seems likely to be true in the realm of politics as well. This is because the globalization of capital has not rendered sub-global states irrelevant, either in general terms or to members of the tcc in particular (Brenner et al. 2003; Harvey 2005, 35). Given the importance of global cities to global capitalism and the tcc, it seems likely that the tcc would have a vested interest in influencing the actions of local government in such cities, especially given the crucial role of public action in economic development, urban planning, and the provision of cultural amenities.