Recession Culture

There is a great story in this week's New York magazine by Jennifer Senior about how the recession is changing the character of NYC. The city's economy is changing and it's way of life is changing -- thus we are now living in a "recession culture." However, if you think about what's happening to NYC and the country's whole economy, it's less of a recession we're living through than an economic "restructuring." It's restructuring in ways that are obviously painful but in other ways that might give the middle class reasons to hope.