You hear a lot these days about "innovation and entrepreneurship" and about how "good jobs" in tech will save our cities. Yet these common tropes hide a stunning reality: local lives and fortunes are tied to global capital. You see this clearly in metropolises such as San Francisco and New York that have emerged as "superstar cities." In these cities, startups bloom, jobs of the future multiply, and a meritocracy trained in digital technology, backed...