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Financialisation and justice in the city: A commentary

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  • 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
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    References listed on IDEAS

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    1. Weber, Rachel, 2015. "From Boom to Bubble," University of Chicago Press Economics Books, University of Chicago Press, number 9780226294483, September.
    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.
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