The debate about the relevance and impact of the super-rich on society has gained greater currency as evidence continues to grow that the widening gap between the poor and the rich has a negative impact on societies as a whole. In otherwise affluent countries where the richest one per cent owns the most, child poverty is common, school attainment is lower and medium household incomes are depressed. Along with reduced average living standards, housing is of poorer quality, and health suffers as anxiety rises.
In an article for the “In Focus” section of Political Insight (December 2014, Volume 5, Issue 3) Danny Dorling and I looked beyond the economic, social, educational and medical implications, focussing on the geographical lessons to learn when wealth concentrates. Where the richest of the rich live, work and where they keep their assets is even more imbalanced than the wider and growing underlying inequalities between rich and poor. In societies where the rich have less they tend to be more spread out across a country, but when the wealth of those at the top rises greatly there is a tendency to congregate – with London a prime example.