IDEAS home Printed from https://ideas.repec.org/a/sae/envira/v29y1997i8p1335-1354.html
   My bibliography  Save this article

A New Look at Gentrification: 2. A Model of Gentrification

Author

Listed:
  • P A Redfern

    (23 Cheniston Gardens, London W8 6TG, England)

Abstract

In this paper I propose a model of gentrification based on the notion that gentrification closes a gap between the flow of housing services fixed in a particular vintage of the housing stock and those available from the most modern properties. This gap is not a rent gap, therefore, but an investment gap. Modelled in this manner, gentrification appears as a problem of maximization under constraint and a subsubset of general home improvements. It is a transient and historically unique (noncyclical) phenomenon. Similarly, these constraints and the opportunities currently available to overcome them exist only in a particular historical context, the peculiarities of which must also be taken into account if gentrification is fully to be explained. In particular, these include the development of domestic technologies and the 19th-century conditions of supply of the housing available currently for gentrifying. I concentrate on the supply-side issues in gentrification, but deny that the demand-side issues can be handled via explanations based on postindustrialism, postmodernity, or the rise of a new middle class.

Suggested Citation

  • P A Redfern, 1997. "A New Look at Gentrification: 2. A Model of Gentrification," Environment and Planning A, , vol. 29(8), pages 1335-1354, August.
    • Handle: RePEc:sae:envira:v:29:y:1997:i:8:p:1335-1354
    DOI: 10.1068/a291335
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1068/a291335
    Download Restriction: no
    File URL: https://libkey.io/10.1068/a291335?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Harcourt,G. C., 1972. "Some Cambridge Controversies in the Theory of Capital," Cambridge Books, Cambridge University Press, number 9780521096720, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Chris Hamnett, 2003. "Gentrification and the Middle-class Remaking of Inner London, 1961-2001," Urban Studies, Urban Studies Journal Limited, vol. 40(12), pages 2401-2426, November.
    2. P.A. Redfern, 2003. "What Makes Gentrification 'Gentrification'?," Urban Studies, Urban Studies Journal Limited, vol. 40(12), pages 2351-2366, November.
    3. Jonathan Reades & Jordan De Souza & Phil Hubbard, 2019. "Understanding urban gentrification through machine learning," Urban Studies, Urban Studies Journal Limited, vol. 56(5), pages 922-942, April.
    4. Liu, Guiwen & Chen, Sijing & Gu, Jianping, 2019. "Urban renewal simulation with spatial, economic and policy dynamics: The rent-gap theory-based model and the case study of Chongqing," Land Use Policy, Elsevier, vol. 86(C), pages 238-252.
    5. P A Redfern, 1997. "A New Look at Gentrification: 1. Gentrification and Domestic Technologies," Environment and Planning A, , vol. 29(7), pages 1275-1296, July.
    6. Stefan Buzar & Philip Ogden & Ray Hall & Annegret Haase & Sigrun Kabisch & Annett Steinfiihrer, 2007. "Splintering Urban Populations: Emergent Landscapes of Reurbanisation in Four European Cities," Urban Studies, Urban Studies Journal Limited, vol. 44(4), pages 651-677, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jeroen C. J. M. van den Bergh, 1999. "Materials, Capital, Direct/Indirect Substitution, and Mass Balance Production Functions," Land Economics, University of Wisconsin Press, vol. 75(4), pages 547-561.
    2. McCloskey Deirdre Nansen, 2018. "The Two Movements in Economic Thought, 1700–2000: Empty Economic Boxes Revisited," Man and the Economy, De Gruyter, vol. 5(2), pages 1-20, December.
    3. Engelbert Stockhammer & Paul Ramskogler, 2009. "Post-Keynesian economics How to move forward," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 6(2), pages 227-246.
    4. Brendan Markey†Towler, 2017. "The Oxford Handbook of Post†Keynesian Economics, Volume 1: Theory and Origins," The Economic Record, The Economic Society of Australia, vol. 93(303), pages 659-661, December.
    5. Nuno Ornelas Martins, 2014. "Inequality, Sustainability and Piketty’s Capital," Working Papers de Economia (Economics Working Papers) 05, Católica Porto Business School, Universidade Católica Portuguesa.
    6. Eckhard Hein, 2016. "Secular stagnation or stagnation policy? Steindl after Summers," PSL Quarterly Review, Economia civile, vol. 69(276), pages 3-47.
    7. Mark Setterfield & Joana David Avritzer, 2020. "Hysteresis in the normal rate of capacity utilization: A behavioral explanation," Metroeconomica, Wiley Blackwell, vol. 71(4), pages 898-919, November.
    8. John Hatch & Colin Rogers, 1997. "Distinguished Fellow of the Economic Society of Australia, 1996: Professor Emeritus Geoff Harcourt," The Economic Record, The Economic Society of Australia, vol. 73(221), pages 97-100, June.
    9. Timothy J. Garrett & Matheus R. Grasselli & Stephen Keen, 2020. "Past production constrains current energy demands: persistent scaling in global energy consumption and implications for climate change mitigation," Papers 2006.03718, arXiv.org.
    10. Kazuhiro Kurose, 2022. "A two-class economy from the multi-sectoral perspective: the controversy between Pasinetti and Meade–Hahn–Samuelson–Modigliani revisited," Evolutionary and Institutional Economics Review, Springer, vol. 19(1), pages 239-270, April.
    11. Amitava Krishna Dutt, 1989. "Sectoral Balance: A Survey," WIDER Working Paper Series wp-1989-056, World Institute for Development Economic Research (UNU-WIDER).
    12. Jeon, Heesang, 2015. "Knowledge and Contemporary Capitalism in Light of Marx's Value Theory," Thesis Commons g5njk, Center for Open Science.
    13. Khusainov, Bulat & Kireyeva, Anel & Sultanov, Ruslan, 2017. "Eurasian Economic Union: Asymmetries of Growth Factors," MPRA Paper 78841, University Library of Munich, Germany.
    14. G.C. Harcourt, 2004. "Political Economy, Politics and Religion: Intertwined and Indissoluble Passions," Chapters, in: Michael Szenberg & Lall Ramrattan (ed.), Reflections of Eminent Economists, chapter 15, Edward Elgar Publishing.
    15. Nitzan, Jonathan & Bichler, Shimshon, 2001. "Going Global: Differential Accumulation and the Great U-turn in South Africa and Israel," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 33(1), pages 21-55.
    16. Gosselin, Pierre & Lotz, Aïleen & Wambst, Marc, 2016. "How To Spend It? Capital Accumulation in a Changing World," MPRA Paper 71665, University Library of Munich, Germany.
    17. Giuseppe Fontana & Bill Gerrard, 2006. "The future of Post Keynesian economics," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 59(236), pages 49-80.
    18. Dilip Madan & Eugene Seneta, 1990. "On the monotonicity of the labour-capital ratio in Sraffa's model," Journal of Economics, Springer, vol. 51(1), pages 101-107, February.
    19. repec:een:camaaa:2004-9 is not listed on IDEAS
    20. Ben Fine, 1998. "Endogenous Growth Theory: A Critical Assessment," Working Papers 80, Department of Economics, SOAS University of London, UK.
    21. Gilbert Faccarello, 1976. "Bibliographie," Cahiers d'Économie Politique, Programme National Persée, vol. 3(1), pages 243-260.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:envira:v:29:y:1997:i:8:p:1335-1354. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.