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Are Global Cities Really Doomed to Become 'Citadels' for the Rich? - Emily Badger - The Atlantic Cities -
2013-12-15 20:30:29 GMT
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"Simon Kuper sketched a dismal picture in the Financial Times over the weekend of the end-game for what he's calling the "great global cities" – places like New York, Paris, London, Singapore, Hong Kong – where the fortunes of a few have become entirely detached from the sputtering economy most of the world has experienced over the last several years. Elsewhere, manufacturing jobs have dwindled, agricultural work has disappeared, and wages have stagnated. Meanwhile, in the great global cities, increasingly only the very rich can afford to live."
"Now comes plutocratisation: the middle classes and small companies are falling victim to class-cleansing. Global cities are becoming patrician ghettos."
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