New York, New York

Between 2009 and 2010, as the U.S. and global economy spun out of control and largely stagnated, wages in Manhattan increased by 11.9%.  More than any other large country.  In 2010, the average weekly wage in Manhattan was $2,404, which is 170% more than the U.S. average, and 45% more than Santa Clara County, home of Silicon Valley, which pays the highest wages outside of greater New York.

Location, Location, Location - - proximity has become ever more valuable as the cost of connecting across long distances has fallen.  In this case, proximity makes New York, New York the center of financial innovation.  Intersecting people and ideas generates creativity and innovation - - which in turn drives the creation of wealth.  Smart and creative people want to be around other smart and creative people.