A UC Berkeley professor of Economics wrote in San Francisco Chronicle that the preponderance of high-tech jobs is ultimately good for everyone. Despite the surge in local rent and food prices, the author, Enrico Moretti argues that although only a select few can work in tech, the industry itself creates jobs in other fields, like the service industry. Moretti seems to be taking the long view — his is like the Clintonian concept that a rising tide lifts all boats.
It’s a controversial assertion, and we’d like to know what you think. Tell us below in the comments.
This is correct. High tech industries are good for our city. They are, in fact, the ultimate industry for a dense urban environment, because you can pack a lot of economic activity into a small space. no need for giant machinery or assembly lines which don’t make economic sense in a city.
Also, there are a LOT of non-technical jobs that come along with a tech company — marketers, receptionists, sales, office managers, HR, accounting, artists, designers, cooks, etc. Tech is not just for geeks.
And more wealth in the city means that there are more ways for creative folks to make a living. A wealthy city is always better than a poor city.
Well put! More money flowing in should mean better city services, cleaner and safer streets, patched up roads, you name it. A thriving economy is good for everyone.