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Capital Switching and the Built Environment: United States, 1970–89

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  • R A Beauregard

    (Graduate School of Public and International Affairs, University of Pittsburgh, PA 15260, USA)

Abstract

In this paper, a ‘weak’ test of the capital-switching argument developed by David Harvey is offered. With data on construction investment activity for the USA and on various alternative investments, a temporal analysis was used to assess whether evidence exists for the movement of capital from the primary to the secondary circuit. The investigation is focused specifically on the building boom of the 1980s, as that expansion has been the focus of recent theoretical and empirical work centered on the relation between urbanization and the restructuring of capital. Little support was found for the claim that capital switching has occurred, but the data do point to a delinking of real-estate investment from nonspeculative investment criteria and use-value considerations.

Suggested Citation

  • R A Beauregard, 1994. "Capital Switching and the Built Environment: United States, 1970–89," Environment and Planning A, , vol. 26(5), pages 715-732, May.
    • Handle: RePEc:sae:envira:v:26:y:1994:i:5:p:715-732
    DOI: 10.1068/a260715
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    Cited by:

    1. John R. Bryson, 1997. "Obsolescence and the Process of Creative Reconstruction," Urban Studies, Urban Studies Journal Limited, vol. 34(9), pages 1439-1458, August.
    2. Thierry Theurillat & Patrick Rérat & Olivier Crevoisier, 2015. "The real estate markets: Players, institutions and territories," Urban Studies, Urban Studies Journal Limited, vol. 52(8), pages 1414-1433, June.
    3. Susan Fainstein, 2016. "Financialisation and justice in the city: A commentary," Urban Studies, Urban Studies Journal Limited, vol. 53(7), pages 1503-1508, May.
    4. Camerin, Federico, 2019. "From “Ribera Plan” to “Diagonal Mar”, passing through 1992 “Vila Olímpica”. How urban renewal took place as urban regeneration in Poblenou district (Barcelona)," Land Use Policy, Elsevier, vol. 89(C).
    5. Robert A. Beauregard, 2005. "The Textures of Property Markets: Downtown Housing and Office Conversions in New York City," Urban Studies, Urban Studies Journal Limited, vol. 42(13), pages 2431-2445, December.
    6. Wu, Fulong, 2022. "Land financialisation and the financing of urban development in China," Land Use Policy, Elsevier, vol. 112(C).
    7. Fulong Wu, 1998. "The New Structure of Building Provision and the Transformation of the Urban Landscape in Metropolitan Guangzhou, China," Urban Studies, Urban Studies Journal Limited, vol. 35(2), pages 259-283, February.
    8. Callum Ward & Manuel B Aalbers, 2016. "Virtual special issue editorial essay: ‘The shitty rent business’: What’s the point of land rent theory?," Urban Studies, Urban Studies Journal Limited, vol. 53(9), pages 1760-1783, July.
    9. Wang, Siqiang & Yung, Esther, Hiu Kwan & Yu, Yifan & Tsou, Jin Yeu, 2022. "Right to the city and community facility planning for elderly: The case of urban renewal district in Hong Kong," Land Use Policy, Elsevier, vol. 114(C).

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