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Capital Switching and the Role of Ground Rent: 1 Theoretical Problems

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  • R J King

    (School of Environmental Planning, The University of Melbourne, Parkville, Victoria 3052, Australia)

Abstract

The flow of both productive and speculative investment into housing relates to the state of capital accumulation in other economic sectors, as hypothesised in the ‘circuits of capital’ argument, but it also relates to the incentive to ‘switch’ investment into and out of housing, and therefore to expectations of ground rent and the (changing) social conditions that enable ground rent extraction. This is the first of three papers in which the relationships involved in these processes are explored. A series of theoretical problems arising from the argument are dealt with, principally relating to its seeming economic determinism and to an inappropriately narrow treatment of crisis and social change. In the subsequent papers, in this journal, these various ideas will be used to reflect on housing market and related social change in Melbourne from the 1930s to the 1980s.

Suggested Citation

  • R J King, 1989. "Capital Switching and the Role of Ground Rent: 1 Theoretical Problems," Environment and Planning A, , vol. 21(4), pages 445-462, April.
    • Handle: RePEc:sae:envira:v:21:y:1989:i:4:p:445-462
    DOI: 10.1068/a210445
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    Cited by:

    1. Ming-Long Lee & Ming-Te Lee & Kevin Chiang, 2008. "Real Estate Risk Exposure of Equity Real Estate Investment Trusts," The Journal of Real Estate Finance and Economics, Springer, vol. 36(2), pages 165-181, February.
    2. William Kutz, 2016. "The Eurozone Crisis and Emerging-Market Expansion: Capital Switching and the Uneven Geographies of Spanish Urbanization," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 40(6), pages 1075-1093, November.
    3. Schipper Sebastian, 2013. "Global-City-Formierung, Gentrifizierung und Grundrentenbildung in Frankfurt am Main," ZFW – Advances in Economic Geography, De Gruyter, vol. 57(1-2), pages 185-200, October.
    4. vdr Krabben, E. & Lambooy, J.G., 1994. "An institutional economic approach to land and propterty markets: Urban dynamics and institutional change," Research Memorandum FEW 636, Tilburg University, School of Economics and Management.

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