Look at London. Of course it matters to all of us that London's economy flourishes. But the test of the enormous wealth generated in patches of the capital is not that it contributed 20%-30% to Britain's GDP but how it affects the lives of the millions who live and work there. What kind of lives are available to them? Can they afford to live there? If they can't, it is not compensation that London is also a paradise for the ultra-rich. Can they get decently paid jobs or jobs at all? If they can't, don't brag about all those Michelin-starred restaurants and their self-dramatising chefs. Or schooling for children? Inadequate schools are not offset by the fact that London universities could field a football team of Nobel prize winners.
About This Quote
About Eric Hobsbawm
Eric Hobsbawm was a 20th-century British academic historian and marxist historiographer. Eric John Ernest Hobsbawm was a British historian of the rise of industrial capitalism, socialism and nationalism. His best-known works include his tetralogy about what he called the "long 19th century" and the "short 20th century", and an edited volume that introduced the influential idea of "invented traditions". Read more on Wikipedia →