CitiLabs' Feargus O'Sullivan thinks London should stop looking to New York for guidance and concentrate on a city closer to home:
[L]et me outline the difficulties the U.K. capital faces. London's property prices are spiraling, products of a housing drought that's turning decent apartments affordable on a working class wage into urban legends. The city's inequality chasm is widening inch-by-inch, and once economically diverse neighborhoods risk becoming monocultures. This has helped to deaden and marginalize aspects of the city's cultural life that made London vibrant in the first place—a lesser point than displacement, no doubt, but a problem nonetheless. Meanwhile, the city's regenerative energies are ignoring the small print of daily livability and being channeled into ridiculously flashy grand projects that see the city as a mere display cabinet in which to cluster expensive, largely functionless infrastructural tchotchkes.
Does this all sound familiar, New Yorkers?
What makes [London mayor Boris] Johnson's NY-LON obsession more frustrating is that London actually has a far more relevant role model closer to home. It's a place that has strong historical connection with London, a city whose architecture and cultural life London long strove to emulate. Obviously, I'm talking about Paris.
It's worth a (quick) read.