by Edward L. Glaeser
July 13, 2009
New York’s strength will depend on its continuing ability to attract entrepreneurs. And that, in turn, will hinge on delivering a decent quality of life at a reasonable price. If city streets become unsafe or unclean, the skilled will leave. New York’s government faces three additional challenges to keeping the city attractive to smart innovators. One is the public school system, whose problems have long pushed people out of New York. Another is local taxes, which are among the highest in the nation and constitute another incentive to leave. The third challenge is New York’s housing prices, some of the highest in the nation.