I was thinking about this yesterday.
The whole structure of American prosperity is built on private investment, and no one will invest their private capital if they have no confidence that public institutions of law will protect those investments.
What the Bragg/Engoron matter shows is that private capital won’t necessarily be protected; that the legal system can be turned against individuals based on politics.
This undercuts and cheapens our whole system of wealth generation, the means by which good and useful ideas find the capital to scale them up to the level of population benefits widely distributed across all of humanity.
Who would want to risk their wealth in such a situation? No one with any brains. Only the politically connected, and people of that class rarely have an idea that benefits anyone but themselves and their friends and family.
Sad to say but I don’t believe NY city is even worth saving now. The corruption, the migrants, the hatred for Republicans, the filth, the politics, the unions - hey, I was a member of the flight attendant’s union but what I saw happen when we flew there was off the charts.
Look at west Hartford Connecticut. Huge amounts of capital flowing there. Multimillion dollar condos. Gogo businesses from worldwide markets. Lots of NY money as well as South American.