New York City: Home of Wall Street and…a Tech Boom?
Raising the age would also encourage more people to think about running for judicial office later in life, when they can bring to the bench the experience and, we would hope, wisdom that the public expects on those who sit in judgment of us. Practically speaking, a senior lawyer’s finances are more likely to allow him or her to consider leaving private practice for a public service job whose pay, while generous, is still well below what an attorney can earn privately. As for the ability to do the work, we take note of a recent analysis of judicial productivity by Vincent Bonventre, a professor at Albany Law School. Mr. Bonventre’s study (done primarily to compare the U.S. Supreme Court with the Court of Appeals), found that the three oldest judges on the Court of Appeals led the court in written opinions. Yet all three would be forced to retire before their terms are up, as was the previous chief judge, Judith Kaye. Understandably, some voters might wonder about the change benefiting particular judges, among them Chief Judge Jonathan Lippman, 69, who is only four years into his term. It’s worth noting that the original legislation put through by the court system under Mr. Lippman didn’t cover the Court of Appeals; that provision was added by the Legislature. Ultimately, the question before voters is whether this is a good move for New York’s justice system, not one judge’s or another’s career. Clearly, it is.
a Tech Boom? Nearly every U.S. city these days brags about becoming “the next Silicon Valley.” New York actually is. cities now pin their economic hopes and dreams on building a burgeoning technology sector and becoming a mini-Silicon Valley, with an abundance of jobs and well-educated residents. Even New York City, whose residents and leaders rarely admit to any feelings of inferiority, is no different. It wants those hot tech start-ups for itself. And in the last decade, New York has succeeded in cultivating, attracting, and boosting its local tech talent. Just ask the founders of Tumblr, Etsy, BuzzFeed, or Warby Parkerall companies headquartered in New York. Tech and information companies, including media properties, now make up the second largest sector in the city’s economy, surpassed only by finance, according to a new study produced for the Bloomberg Administration. Since 2007, those types of jobs grew by 11 percent, or approximately 26,000 positions. National Journal recently sat down with Robert Steel, New York’s deputy mayor for economic development, to talk about New York’s tech push and why the city is different–maybe even better–than its California rival. Edited excerpts follow. You worked for Goldman Sachs for years as a banker. Did you ever think you would see a day when the tech sector would become New York City’s second-largest driver of jobs, trailing only finance?