Ed Glaeser on New York

He sounds like Richard Florida. New York has bright, creative people, yada-yada.

I think that most of the cyclical movement in the economy comes in businesses that are not all that creative--manufacturing, construction, and strip-mall businesses. Folks in Washington have little interest in those types of businesses. While policy has funneled money into banks and state and local government, the net impact on cyclical business has probably been negative.