Blogs Apr 13, 2012 at 8:24 am

Comments

1
"countries that guarantee political and personal freedoms, have sound legal systems, a favorable tax environment, good security and good schools for their kids"

Sounds more like a city that is successful, not a city especially for the rich. I suppose it makes sense that rich people would want their money in places that are safe, so these two go hand in hand.

Don't poor people want this too? Security for themselves, their rights, and their property?

And how is Beijing on the list of cities that the rich love, and also included in the section of where the rich want to take their money from?

So it is wrong to move to a place you would prefer to live, if you save/earn enough capital to do so?

2
Then you'll be leaving soon for the greener pastures of Zimbabwe, Chuckie?
3
Miami? Seriously, what a shithole.
4
Good Morning Charles,
I've just returned from San Francisco, a city that certainly draws the extremely wealthy. It's quite a lovely place.

I don't dismiss either of those reasons for the ultra-rich being drawn to cities. However, I contend the ultra-poor are drawn to great cities as well and particularly to Occidental ones if they could only get to them. They are simply drawn there because of the largess and/or opportunites. Read: money and/or jobs. That isn't too unusual.

When I rendered Sao Paulo a visit 5 years ago, a local newspaper disclosed as I recall, that for the first time in human history, more people live in cities than in rural areas of the earth. That's quite significant. So, I don't necessarily believe the unber-rich are drawn to cities too much differently than poorer folks.
6
True, but except for police states like Singapore, personal safety and the rule of law are functions of economic and political democracy (two examples: queuing and the jury system). As the US, the UK and other Western countries continue moving toward oligarchy, the advantages they hold for the superrich will decline and they'll decide they might as well stay home in Beijing or Moscow.
8
@7 - But have you ever tried living in Santa Cruz? It's like a cross between San Diego and Modesto.

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