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ooted in free trade, open markets, the waning of<br />

governmental regulation, an explosion of new circuits<br />

of information, and vast capital flows across<br />

the globe. Then, in 2008, these global financial<br />

institutions nearly collapsed. The proud investment<br />

banks of Wall Street were found to be<br />

drowning in an ocean of “toxic debt” and went<br />

bankrupt, were taken over, or were nationalized.<br />

The job losses in New York City for 2009 were<br />

estimated to approach 200,000.<br />

The city’s resilience, warmly praised in the<br />

Russell Sage Foundation’s 2005 research on the<br />

impact of 9/11, suggests that New York can again<br />

draw on an increasingly impressive entrepreneurialism<br />

in the city’s immigrant communities. But the<br />

sharp polarization of the “dual city,” analyzed in<br />

a 1991 volume of that name edited by John H.<br />

Mollenkopf and Manuel Castells, confirmed the<br />

basic portrait of a deeply fragmented city drawn<br />

by Tom Wolfe in 1987’s Bonfire of the Vanities.<br />

The dream of a globalized city, a place of limitless<br />

aspiration, power and wealth, is not dead, but it<br />

lies broken, in tatters.<br />

Eric Homberger<br />

See also Global City; New York World’s Fair, 1939–<br />

1940; Parks; Urban Health; World Trade Center<br />

(9/11)<br />

Further Readings<br />

Beveridge, Charles and David Schuyler, eds. 1997. The<br />

Papers of Frederick Law Olmsted. Vol. 3, Creating<br />

Central Park. Baltimore: Johns Hopkins University Press.<br />

Brace, Charles Loring. 1872. The Dangerous Classes of<br />

New York, and Twenty Years’ Work among Them.<br />

New York: Wynkoop & Hallenbeck.<br />

Chernick, Howard, ed. 2005. Resilient City: The<br />

Economic Impact of 9/11. New York: Russell Sage<br />

Foundation.<br />

Citizens’ Association of New York. 1865. Report of the<br />

Council of Hygiene and Public Health of the Citizens’<br />

Association of New York upon the Sanitary Condition<br />

of the City. New York: D. Appleton & Co.<br />

Griscom, John H. 1845. Sanitary Condition of the<br />

Laboring Population of New York. New York:<br />

Harper & Brothers.<br />

Hone, Philip. 1927. The Diary of Philip Hone<br />

1828–1851. Edited by Allan Nevins. 2 vols. New<br />

York: Dodd, Mead and Co.<br />

New York World’s Fair, 1939–1940<br />

561<br />

Mollenkopf, John H. and Manuel Castells, eds. 1991.<br />

Dual City: Restructuring New York. New York:<br />

Russell Sage Foundation.<br />

Riis, Jacob. [1890] 1971. How the Other Half Lives:<br />

Studies among the Tenements of New York. New<br />

York: Dover Press.<br />

Rosenzweig, Roy and Elizabeth Blackmar. 1992. The<br />

Park and the People: A History of Central Park.<br />

Ithaca, NY: Cornell University Press.<br />

Sassen, Saskia. 1991. The Global City: New York, London,<br />

Tokyo. Princeton, NJ: Princeton University Press.<br />

Ne w yo r k wo r l d ’s Fa i r,<br />

1939–1940<br />

The 1939–1940 New York World’s Fair was one<br />

of the largest world fairs of all time. Its cultural<br />

legacy has massively contributed in shaping the<br />

mass culture of post–World War II America and<br />

the world.<br />

Opening a decade after the stock market crash of<br />

1929 and the following economic depression, the<br />

New York fair was launched with the aim of uplifting<br />

the spirit of Americans while at the same time<br />

promoting a financial upturn by stimulating a culture<br />

of collective consumption through the display<br />

of new technologies and new consumer products.<br />

Massive sponsorships came from the big corporations<br />

of the time (Eastman Kodak and AT&T,<br />

among others) and especially from the automobile<br />

industry, with General Motors and Ford in the<br />

front line. The emphasis on consumerism and on<br />

new technologies helped develop a new type of<br />

average American consumer.<br />

The fair covered more than 1,216 acres in what<br />

once had been a wasteland in the Flushing Meadows<br />

area of Queens, also the location of the 1964–1965<br />

New York World’s Fair. Its main theme was “The<br />

World of Tomorrow,” a utopian future of highspeed<br />

mobility, optimism, individual freedom, and<br />

mass consumption. Yet, by the time the fair<br />

reopened in 1940, World War II had already<br />

begun, and its second season was characterized by<br />

a much less optimistic climate.<br />

The fair provided a prominent stage for experimentation<br />

in architecture, planning, and industrial<br />

design. If the celebration of the machine age was<br />

its underlying context, its main stylistic vocabulary

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