IDEAS home Printed from https://ideas.repec.org/a/sae/urbstu/v53y2016i7p1503-1508.html
   My bibliography  Save this article

Financialisation and justice in the city: A commentary

Author

Listed:
  • Susan Fainstein

Abstract

Intensification of the transformation of real property into financial instruments has worsened urban inequality in the past several decades. Increased financialisation in itself does not create uneven development and property investment cycles, since these phenomena have always been hallmarks of real estate development under capitalism. Rather it is the combination of financialisation with neoliberal ideology, globalisation, and the constriction of state-sponsored social welfare and housing affordability programs that underlies the inequities produced by property investment. Progressive policy makers can potentially utilise financial instruments in order to achieve greater justice if they are able to challenge neoliberal hegemony.

Suggested Citation

  • Susan Fainstein, 2016. "Financialisation and justice in the city: A commentary," Urban Studies, Urban Studies Journal Limited, vol. 53(7), pages 1503-1508, May.
    • Handle: RePEc:sae:urbstu:v:53:y:2016:i:7:p:1503-1508
    DOI: 10.1177/0042098016630488
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/0042098016630488
    Download Restriction: no
    File URL: https://libkey.io/10.1177/0042098016630488?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. Weber, Rachel, 2015. "From Boom to Bubble," University of Chicago Press Economics Books, University of Chicago Press, number 9780226294483, June.
    2. 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.
    Full references (including those not matched with items on IDEAS)

    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. David Ley, 2021. "A regional growth ecology, a great wall of capital and a metropolitan housing market," Urban Studies, Urban Studies Journal Limited, vol. 58(2), pages 297-315, February.
    2. Jennifer Robinson & Katia Attuyer, 2021. "Extracting Value, London Style: Revisiting the Role of the State in Urban Development," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 45(2), pages 303-331, March.
    3. Stephanie Farmer & Chris D Poulos, 2019. "The financialising local growth machine in Chicago," Urban Studies, Urban Studies Journal Limited, vol. 56(7), pages 1404-1425, May.
    4. Antoine Guironnet, 2019. "Cities on the global real estate marketplace: urban development policy and the circulation of financial standards in two French localities," Post-Print halshs-02297204, HAL.
    5. Julia Heslop & Josh Chambers & James Maloney & George Spurgeon & Hannah Swainston & Hannah Woodall, 2023. "Re-contextualising purpose-built student accommodation in secondary cities: The role of planning policy, consultation and economic need during austerity," Urban Studies, Urban Studies Journal Limited, vol. 60(5), pages 923-940, April.
    6. Frances Brill, 2020. "Complexity and coordination in London’s Silvertown Quays: How real estate developers (re)centred themselves in the planning process," Environment and Planning A, , vol. 52(2), pages 362-382, March.
    7. Callum Ward, 2021. "Contradictions of Financial Capital Switching: Reading the Corporate Leverage Crisis through The Port of Liverpool's Whole Business Securitization," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 45(2), pages 249-265, March.
    8. Renee Tapp, 2021. "Introducing the YIMBYs: Renters, housing, and supply-side politics in Los Angeles," Environment and Planning C, , vol. 39(7), pages 1511-1528, November.
    9. 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).
    10. Siân Butcher, 2020. "Appropriating rent from greenfield affordable housing: developer practices in Johannesburg," Environment and Planning A, , vol. 52(2), pages 337-361, March.
    11. 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.
    12. Wu, Fulong, 2022. "Land financialisation and the financing of urban development in China," Land Use Policy, Elsevier, vol. 112(C).
    13. : Bridget Fisher & Flávia Leite, 2018. "The Cost of New York City's Hudson Yards Redevelopment Project," SCEPA working paper series. 2018-02, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    14. 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.
    15. Alison Todes & Jennifer Robinson, 2020. "Re-directing developers: New models of rental housing development to re-shape the post-apartheid city?," Environment and Planning A, , vol. 52(2), pages 297-317, March.
    16. David Wilson, 2022. "People as infrastructure politics in global north cities: Chicago’s South Side," Environment and Planning C, , vol. 40(1), pages 165-179, February.
    17. Mike Raco & Daniel Durrant & Nicola Livingstone, 2018. "Slow cities, urban politics and the temporalities of planning: Lessons from London," Environment and Planning C, , vol. 36(7), pages 1176-1194, November.
    18. Kevin Kane & John R Hipp & Jae Hong Kim, 2018. "Los Angeles employment concentration in the 21st century," Urban Studies, Urban Studies Journal Limited, vol. 55(4), pages 844-869, March.
    19. Frances Brill & Daniel Durrant, 2021. "The emergence of a Build to Rent model: The role of narratives and discourses," Environment and Planning A, , vol. 53(5), pages 1140-1157, August.
    20. Yunpeng Zhang, 2022. "TEMPORAL POLITICS AND INJUSTICE IN MEGA URBANIZATION: Lessons from Yangzhou, China," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 46(4), pages 558-575, July.

    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:urbstu:v:53:y:2016:i:7:p:1503-1508. 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: http://www.gla.ac.uk/departments/urbanstudiesjournal .

    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.