Financialisation and justice in the city: A commentary

Susan Fainstein

Urban Studies, 2016, vol. 53, issue 7, 1503-1508

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.

Keywords: financialisation; globalisation; just city; property development; real estate (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:53:y:2016:i:7:p:1503-1508

DOI: 10.1177/0042098016630488

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