Why finance jobs are widening income inequality in cities around the world

Skyscrapers in the City of London, United Kingdom. Mistervlad/Shutterstock Try to imagine the history of New York without Wall Street, or London without the City. It’s not easy. Hosting a country’s main financial markets shapes a city’s identity, raises its profile and creates jobs. But there are trade-offs. By acting as a magnet for high-paying finance jobs and related professions, many financial cities suffer from particularly high levels of income inequality. In fact, alongside globalisation…