Economy
The regional economy is a center in international banking and commerce. It is the largest in the United States and one of the most important in the world. New York is considered a global city. In 2012, New York City topped the first Global Economic Power Index, published by The Atlantic (to be differentiated from a namesake list published by the Martin Prosperity Institute), with cities ranked according to criteria reflecting their presence on similar lists as published by other entities. Finance, international trade, media, real estate, manufacturing, tourism, biotechnology, and education are the leading industries in the area. Other industries include entertainment and news media. In 2010, the gross metropolitan product was $1.28 trillion dollars, second only to Tokyo, and is larger than all but 14 countries.
Along with its wealth, the area has a cost of living that is among the highest in the United States. Changes in house prices for the area are publicly tracked on a regular basis using the Case–Shiller index; the statistic is published by Standard & Poor's and is also a component of S&P's 10-city composite index of the value of the residential real estate market.
Read more about this topic: New York Metropolitan Area
Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)