Revisiting the Urban Question in the Age of the New Urban Crisis: The (Re)Production of the Regime of Flexible Accumulation

Scholars have recently remarked upon the emergence of what Richard Florida has termed The New Urban Crisis, a global phenomenon whereby cities are being lumped into winners and losers, with inequality rising in the winner cities where real estate prices are pushing out those who most need access to the opportunities hoarded within. In this article, I argue that the new urban crisis is not a crisis of the city per se but is itself a symptom of greater crises occurring at the level of global capitalism. By revisiting Castells’ The Urban Question, I read the new urban crisis as a product of how the urban social structure fits into the reproduction of capitalism on a global scale, arguing that, under the regime of flexible accumulation, the urban social structure is asked to reproduce two distinct circuits of capital accumulation set loose by the transition to post-industrialism: accumulation via production and accumulation via finance. These distinct circuits of accumulation utilize the elements of urban social structures differentially, often at cross purposes. This produces continued crises in the reproduction of capitalism, as well as continually shifting relations between elements of the urban social structure, producing a plurality of urban forms.