‘As far as the professional middle class is concerned London has become a form of gigantic black hole dragging everything into it. To choose to build a career anywhere else is, at best, to be deemed eccentric and, at worst, a disturbing indication of a lack of ambition. In England, it is often London or bust.’
Anyone familiar with our work on the Finance Curse will recognise this immediately. As one cross-country academic study put it, highly remunerated finance “literally bids rocket scientists away from the satellite industry.”
London’s gains (or the gains of a lucky segment of Londoners) are so often obtained at the expense of others in Britain.