In my New York Times op-ed, “New York, the Silicon City,” published today, I show how the growth of the tech/information sector has been a force for creating opportunity in New York City, not inequality. Moreover, the laudable progressive goals of New York’s new mayor, Bill de Blasio, are best achieved by embracing tech, rather than running away from it. In New York City, the tech/information boom has diversified the local economy and enabled the city to outperform the rest of the country despite the financial bust being centered in Wall Street. Moreover, the tech boom has benefited minorities, and been far better for the outer boroughs than the finance/real estate boom which preceded it.
There’s a more general principle at work here: Tech growth should be seen as enabling progressive goals, rather than fighting them. Innovation shakes up the existing order, creating opportunities for those who would otherwise be closed out. Nationally we’ve seen a tremendous increase in recent years in the number of minorities getting degrees in computer and information sciences. For example, The number of bachelor’s degrees in computer and information sciences granted to Hispanic and Latino students rose by 44% over the past three years. (see this post). The growth of the tech sector is a path to a new middle class.
Final note: If anything, we have too little innovation, not too much.
