Wealth - Plutocratic London
Thinking Allowed
What's the Difference Between Old Money and New Money?
Caroline says the super rich create jobs in their own service sector. But they also use butlers and cooks, who are often not very well paid. They deploy their money in creating new money in quite unproductive ways. And so i think that there is a kind of closing off of the city around the particular needs of the super rich. I'm thinking of people in an kensington or duke of westminster. You know, you've covered a great deal of ground already in this book...but i still want to ask what you call the profoundly damaging impact of the superrich on the city.
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