Apr
20
Blog Post #14- Class 21
April 20, 2015 | Leave a Comment
In the NYC Future article, Center for Urban Future explained how there is a general picture of more foreign born New York residents take a bigger part of being a self-employed entrepreneur. Although I do see this throughout New York City, I wonder why foreign born residents take part in such risk. Entrepreneurship requires dedication, time, and extreme amounts of capital in order for a significant amount of profit to occur. It is extremely risky because the entrepreneurs can lose all the money they put in very easily to other competitors or failing business.
The same article also emphasizes that the place of birth, the current neighborhood, and household income also affected the percentage of entrepreneurs. What I found was most interesting was that more foreign born residents are generally more inclined to take part in entrepreneurship. According to the article, foreign born take 49% NYC’s self-employed with 39% of native born white in second place. Following that, is native-born black with 6%, native-born Hispanic with 5%, and native-born Asian with 1%.
My question is “how does this affect New York City?” I admire New York City because it is one of the most diverse places in the United States and I believe foreign-born entrepreneurship develops and hones the American dream. Immigrants made NYC what it is today. In fact, most Americans are directly related to or know someone in their family tree who came to the United States as an immigrant. It’s amazing what people can do.
The NY Times article posed a very interesting theory. I guess in the long run, technology could affect the income inequality gap by completing the harder jobs. I agree it is true that once the majority of people are adjusted to the technology, the younger generation would be able to accompany and integrate with the machines/computers.
The extent to what technology can do is amazing. The fact that it has potential to provide “cheap, high-quality heart surgery and other medical procedures, and over time such techniques” is amazing. “Imagine a future China producing cheaper and safer cars, a cure for some kinds of cancer, and workable battery storage for solar energy.” Hopefully, future technology does not get rid of the need for human labor, otherwise that would lead to bigger problems than before.
