In terms of influence, absolutely:
Traditionally, Americans have thought of New York City as the country’s cultural and intellectual center. That’s no longer the case. New York dominates in many areas, most of all the arts, but those are no longer the most influential or innovative parts of the American Zeitgeist.
Don’t be fooled by the fact that NYC feels higher status or is so diverse or has some of the coolest people. Right now it is not the place with the generative ideas — sorry!
Here is my bit on D.C.:
The D.C. area is the center of legalistic thinking, which is increasingly important with the growth of government and the regulatory state. Lawyers and policy-makers are our engineers for incentives, so to speak, even if they don’t always get it right. Their efforts are backed by an array of economic, legal, political, public opinion and bureaucratic expertise that is without parallel in history. If, for instance, you talk to the specialist at the Treasury Department on accelerated tax depreciation, that individual will be impressive, even though his or her final output may be filtered through some very unimpressive political constraints.
D.C. has also become an increasingly important media center, where so many rhetorical battles over the future of the country are started. President Donald Trump maximized his influence by moving to the nation’s capital, though augmented by Twitter, a San Francisco product.
I’m not saying you have to like this, in fact it may end in the overregulation of tech and the Bay Area — America’s other generative center — to the detriment of economic dynamism:
But the Bay Area and the D.C. area are built on such different principles, and they don’t understand each other very well. It’s more likely that we see a rude awakening, as the U.S. realizes its two most influential centers have been pulling the country in opposite directions.
Here is the rest of my Bloomberg column, recommended.