Priced out of Paris

When one-per-centers travel, they meet peers from other global cities. A  triangular elite circuit now links London, Paris and Brussels, notes Michael  Keith, anthropology professor at Oxford. Elite New Yorkers visit London, not  Buffalo.

Sassen says: “These new geographies of centrality cut across many older  divides – north-south, east-west, democracies versus dictator regimes. So  top-level corporate and professional sectors of São Paulo begin to have more in  common with peers in Paris, Hong Kong et cetera than with the rest of their own  societies.”

All through history, bright young people migrated to metropolises: think of  Dick Whittington, the semi-mythical medieval English country boy who ended up  mayor of London. But today Dick wouldn’t be able to afford a bedsit in London.  He’d have to turn down an internship. To buy in these cities now, you must  either earn a fortune or inherit a house there – and often the same people do  both. Outsiders who reach the city late rarely have the education and contacts  to succeed.

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