Challenging Talent: Cities and the Cycle of Rising Disparities

This chapter examines some of the challenges that the age of talent presents for individuals, firms and cities. It highlights the costs of developing the “superstar” cities, discusses gaps between the “haves” and the “have nots” and addresses how big cities exacerbate income inequalities and segregation based on race and class. Throughout the chapter, we acknowledge the cyclical nature of these disparities and how they have been exacerbated by periods of crisis including the global financial crisis and the recent Covid-19 pandemic. The discussion then turns to drivers of gentrification and the influence of rising housing costs but also the cultural tastes of aggressively entrepreneurial newcomers that flock to big cities. The challenges that re-urbanisation presents to both the suburbs and rural areas are then discussed. The chapter concludes with reflection on the need to address rising socio-economic and spatial inequalities in cities and beyond that have emerged through mass urbanisation and the age of talent in the pursuit of economic growth.