How London was bought and sold by the Super-Rich, and what it means
for the rest of us
Who owns London? In recent decades, it has fallen into the hands of the
super-rich. It is today the essential "World City" for High-Net-Worth
Individuals and Ultra-High-Net-Worth Individuals. Compared to New York
or Tokyo, the two cities that bear the closest comparison, it has the
largest number of wealthy people per head of population. Taken as a
whole, London is the epicentre of the world's finance markets, an elite
cultural hub, and a place to hide one's wealth.
Rowland Atkinson presents a history of the property boom economy, going
back to the end of Empire. It tells the story of eager developers,
sovereign wealth and grasping politicians, all paving the way for the
wealthy colonisation of the cityscape. The consequences of this
transformation of the capital for capital is the brutal expulsion of the
urban poor, austerity, cuts, demolitions, and a catalogue of social
injustices. This Faustian pact has resulted in the sale and destruction
of public assets, while the rich turn a blind eye toward criminal money
laundering to feather their own nests.
Alpha City moves from gated communities and the mega-houses of the
super-rich to the disturbing rise of evictions and displacements from
the city. It shows how the consequences of widening inequality have an
impact on the urban landscape.
