A huge effort is being made to represent the London mayoral elections as a merely localised personality contest between two “flawed” individuals. This is a convenient myth that conceals more than it reveals. To truly understand what is happening in London, we need to see the wider context.
Looking back to the financial crisis it is easy to see in retrospect that the collapse in the markets was used to increase the power of an oligarchy of elites. The millionaires were rewarded and the millions are paying more. The Sunday Times rich list shows the wealthiest 1,000 gaining fabulous new wealth. But it’s austerity for the rest.