Urban Systems of Accumulation: Half a Century of Chilean Neoliberal Urban Policies

We analyse a half‐century of Chilean urban reforms to explain the introduction of a system of urban accumulation by dispossession of public resources and opportunities. Three stages have been conceptualised in the imposition of a neoliberal creative‐destructive process: proto‐neoliberalism, roll‐back and roll‐out periods. Empirical studies have traditionally analysed this process by examining a single urban policy's evolution over time. In this paper, we go beyond these types of studies by performing a systemic analysis of multiple urban policy reforms in Santiago, Chile. We use a genealogical thematic analysis to track changes in laws, government programmes and planning documents from between 1952 and 2014. Our analysis identifies different “urban systems of accumulation” by looking at the interplay of four urban policies: (1) urban planning deregulation; (2) social housing privatisation; (3) devolution of territorial taxes; and (4) decreased public service provision. Moreover, our multidimensional policy analysis in Santiago characterises a more radical, fourth expression in the creative destruction process of “accumulation by dismantling”. Consequently, we advocate for more multidimensional urban policy research that goes beyond a three‐period analysis in order to gain a deeper understanding of contemporary neoliberal creative‐destructive processes in variegated geographies.     

Dispossession by Accumulation? Mining,Water and the Nature of Enclosure on the Bolivian Altiplano

Abstract: This paper examines processes of primitive accumulation and livelihood dispossession on the Bolivian Altiplano. Through empirical examination of the social and environmental effects of mining waste, the paper demonstrates that indigenous campesino community members are experiencing livelihood dispossession by way of three interrelated forms of accumulation: accumulation of toxic sediments on agricultural fields; accumulation of water and water rights by mining firms; and accumulation of territory by mining operations. In the case under examination, full proletarianization is not taking place, and processes of dispossession are not a “fix” for an overaccumulation crisis. The paper argues for greater attention to the contingent role of nature's materiality in processes of dispossession and accumulation.     

Classifying Like a State: Land Dispossession on Eastern Crete’s Contested Mountains

Despite the widespread attention to capital investments in land and property around the globe, the active re-regulating role of the neoliberal state in processes of “accumulation by dispossession” remains underexplored. Through an in-depth look at the dispossession of highly fragmented and loosely regulated private land for windfarm investments on Crete’s eastern corner, Sitia, this paper re-affirms the political nature of the forcible appropriation of land for large-scale investments; dissects the specific mechanisms in which the state dispossesses land on behalf of investors and promotes the forcible appropriation of land from below; and problematises the dialectic relationship of both rupture and continuity between crisis and inherited, path-dependent relations embedded in land. The transformation of Sitia’s loosely regulated, informal relations on land is made possible through the mobilisation of the state’s bureaucratic and normalising powers, which redefine the concept of forest and dispossess through classifying land as such.     

Setting the rules: private power,political underpinnings,and legitimacy in global monetary and financial governance

The role of private market agents in global monetary and financial governance has increased as globalization has proceeded. This shift in both markets and patterns of governance has often been encouraged by states themselves in pursuit of liberalization policies. Much of the literature views these developments in a positive light, yet there are other aspects of these developments that also merit attention. This article supports its central propositions with two cases of emerging global financial governance processes: the Basel II capital adequacy standards for international banking supervision and the International Organization of Securities Commissions‐based transnational regulatory processes underpinning the functioning of cross‐border securities markets. Based on the case findings, the article argues first that private sector self‐regulation and/or public‐private partnership in governance processes can leave public authorities vulnerable to dependence on the information and expertise provided by private agents in a fast‐moving market environment. Policy in the vital domain of financial regulation has been increasingly aligned to private sector preferences to a degree that should raise fears of bureaucratic capture. Second, the article contends that the overall outcome in terms of global financial system efficiency and stability has been mixed, bringing a range of important benefits but also instability and crisis for many societies to a degree that has led to challenges to global governance itself. The case material indicates that the input, output and accountability phases of legitimacy in global monetary and financial governance are highly problematic, and much of the problem relates to the way in which private market agents are integrated into the decision‐making process. Third, the article posits that a better consideration of these three ‘phases’ of legitimacy and their interrelationships is likely to enhance the political underpinnings and legitimacy of global financial and monetary order.     

The Urban Village,Agrarian Transformation,and Rentier Capitalism in Gurgaon,India

Gurgaon, India's “millennium city”, is today synonymous with India's embrace of global real estate capital and private sector‐led urban development. This paper asserts that Gurgaon's spectacular urbanisation has been fundamentally underpinned by an uneven process of land acquisition, exemption and agrarian transformation. Shifting away from dispossession‐centred analyses of contemporary urbanisation in India, this paper explores Gurgaon's “urban villages” to consider the uneven integration of agrarian classes into emerging urban real estate markets. Through an examination of differential experiences of land acquisition and agrarian social change among Gurgaon's landowning classes, the paper seeks to trace complex and nonlinear processes of agrarian transformation which make possible landscapes of global accumulation.     

San Juan,the Fragile City: Finance Capital,Class, and the Making of Puerto Rico's Economic Crisis

This paper narrates Puerto Rico's fiscal and financial crisis through a reading of San Juan's urban landscape. We underscore the role of capital in the city, primarily embodied by the local capitalist class (the Criollo bloc) and foreign capitalists. Historically excluded from the manufacturing sector (dominated by US capitalists), the Criollo bloc accumulates its wealth by concentrating financial assets in the city. In times of crisis, the Criollo bloc resorts to the acquisition of new assets and asset exchange with foreign capitalists to remain solvent and provide short‐term solutions to the state's fiscal and financial limits. The survival of the local capitalist class, we demonstrate, is dependent on asset stripping. Drawing on Clyde Woods, we document how asset stripping unevenly redistributes wealth and risks along class and racial lines within a colonial economy. The finance capital/asset stripping basis of San Juan's economy renders it an extremely fragile city, we contend.     

Nature's Materiality and the Circuitous Paths of Accumulation: Dispossession of Freshwater Fisheries in Cambodia

This paper examines recent conflicts over freshwater fisheries in Cambodia using the notion of accumulation through dispossession as a conceptual starting point. Despite a recent material turn, theoretical literature on the political economy of the environment has only partially incorporated an ecologically nuanced view of nature into analyses of its transformation under processes of capital accumulation. The biophysical characteristics of riverine fisheries are predicated on the ecohydrologic dynamics of water flows, and these characteristics dictate strategies of appropriation for both subsistence and commercial use. The complexity of these material characteristics is compounded in the case of Cambodian fisheries, where an array of state‐ and market‐driven processes promote the dispossession of resources and constrain the livelihood opportunities of rural communities dependent on fishing. Theories of capital accumulation and how accumulation induces socioecological conflicts can be very useful, firstly, for explaining the origins of environmental conflicts and, secondly, for grounding the analysis of such conflicts in the politics of accumulation as mediated by state actors. Conversely, theoretical framings of primitive accumulation must examine the “things” being accumulated (eg riverine fisheries) in far more biophysically specific ways, and must recognize the circuitous pathways, particularly in cases involving developmental states, that strategies of accumulation follow.     

Accumulation by dispossession and hazardscape production in post-corporate gold mining in Itogon,Philippines

This study investigates the experience of a gold mining community two decades after corporate mining activities ceased and were replaced by informal subcontract small-scale mining in Itogon, Philippines. Drawing on David Harvey’s accumulation by dispossession and Daanish Mustafa’s hazardscape, we consider the lasting effects, from 1903, of dispossession upon the establishment of the first commercial mines in the Philippines as experienced by traditional miners in Itogon. Despite the closure of mining operations, mineral lands remain privately owned, resulting in the persistence of legal land dispossession among local small-scale gold miners. Mining activities still continue as small-scale miners are able to access abandoned mines through subcontract mining. Subcontract mining has changed the source of capital that funds mining activities from mining corporation to rent-seeking small-scale mining financiers, but the new economic relations still benefit from the capitalist logic of low natural resources and labour value. We argue that the production of hazardscapes is a consequence of accumulation by dispossession through (1) processes of expropriation of mineral lands and the consequent creation of free labour among local miners; (2) the externalisation environmental cost as an accumulation strategy that results in the production of socionatural hazards; and (3) exploitation of those who labour and who are made to work in precarious work environment while contributing to the production of hazardscapes.     

Neoliberal privatisation? Remapping the public and the private in Sydney's masterplanned residential estates

The analysis of neoliberalism has become a key point of departure in critical urban studies and political geography. Its application in theorising new forms of residential environments is no exception. Common interest developments, gated communities and, in the Australian case, masterplanned residential estates (MPREs) are cast as vehicles of neoliberalist privatisation, extending private property rights and embedding market logics and neoliberal modes of privatised governance. This paper is a critical theoretical and empirical engagement with the interpretation of these residential developments as iconic expressions of urban neoliberalisation. We bring poststructuralist thinking on neoliberalism as an assemblage of diverse practices and projects together with poststructuralist conceptions of the public and private as contextual and enacted political constructions, to provide an alternative analytic—an analytic of assemblage—for investigating putative pathways of neoliberal privatisation. We suggest the purchase of this extended framework through an exploration of MPRE development by Sydney's largest MPRE developer. In this framework, MPREs become contingent productions in which multiple and overdetermined projects, practices and paradigms of governance are at work including, amongst others, social sustainability and interventionism. Rather than producing neoliberal privatisation, we explore how MPRE developments involve the complex constitution of new forms of public and private that exceed coding as neoliberal. We conclude that the framework engaged with here can enable productive advances for urban theorising. Its emphasis on practice, enactment, multiplicity and assemblage can resist a tendency to reify urban neoliberalism and nurture the development of new conceptions and discourses of urban governance less bound to the neoliberal imaginary.     

Urbanisation and Financialisation in the Context of a Rescaling State: The Case of Spain

The secondary circuit is a central element in the processes of capital accumulation, and its relevance has become more acute in recent years as urban planning, housing, and real estate have become privileged arenas of the territoriality “variegated” processes of neoliberalisation. This paper explores three theoretical concepts, all closely associated with neoliberalisation: the rescaling of the state, urban entrepreneurialism and financialisation. The paper uses these three theoretical concepts to explain, on the one hand, the increasing relevance of housing and real estate and, on the other hand, their connection with two of the major manifestations of the current financial crisis: excessive private indebtedness and the credit crunch. Analysing the Spanish case is particularly revealing because of the intensity of construction work until 2007, the severity of the subsequent economic crisis, and the wide range of agents involved in the growth of a neoliberalised and financialised secondary circuit of capital in Spain.     

Asserting Europe's technological sovereignty amid American platform finance: Countering financial sector dependence on Big Tech?

Spearheaded by major technology companies (Big Tech), digital platforms have rapidly become key infrastructures for accumulation under global financialized capitalism, with consumer convenience and underlying practices of data collection, control and analysis giving rise to platform finance. While financial institutions are partnering with financial technology (FinTech) start-ups to digitally enclose customers, American and Chinese Big Techs increasingly mobilize their platforms to offer payment services, next to expanding their platformed services to financial incumbents. Observing the growing dependence of finance on American Big Tech platforms, this paper investigates how the shift toward platform finance in the European Union (EU) unfolds as a state-mediated and power-laden process between mostly ‘domestic’ (EU) financial incumbents and ‘foreign’ (non-EU) Big Tech firms. The starting point of the analysis is the European Strategy for Data launched by the European Commission in 2020. Through document analysis, we reconstruct the circulation of code words within ‘the Brussels Bubble’ in anticipation of- and in direct response to the proposal. We find that, despite its implication in the global financial crisis, incumbent EU finance presents itself as a fix for non-EU platform domination by Big Tech. The ‘technological sovereignty’ of the EU is marshalled by incumbent finance to defend market share as would-be pan-European digital financial champions. The Big Tech ‘threat’ is thereby transformed into an argument for strategic deregulation and forced data sharing by Big Tech for the sake of maintaining a ‘level playing field’. The outcome of these processes of strategic coupling is an alignment between the interests of EU data protection and the commercial interests of platformizing European banks.     

White Settler Society as Monster: Rural Southeast Kansas,Ancestral Osage (Wah‐Zha‐Zhi) Territories,and the Violence of Forgetting

This article provides a critical analysis of the practices and discourses of white settler “men” in Southeast Kansas (Ancestral Osage Territories) by examining the inextricable links rural masculinity has with settler colonialism. I begin by underscoring how efforts in erasing Indigenous histories have been sanctioned through processes of dispossession, bordering, and nation‐state building. I then explore how hetero‐patriarchal rural hierarchies are assembled via capitalistic desires for private property; conservative Christianity's rhetoric of altruism and good intentions; white supremacist conceptions of race; and masculinist perspectives regarding work and gender. Next, I highlight how the spatial assertion of white settler masculinity reproduces colonial oppressions based upon interlocking subject positions and notions of difference. I continue by suggesting denial and disaffiliation are banal exercises of disavowal employed by white settler societies as attempts to forget colonial violence. I then finish by illustrating how a masculinist status quo might be disrupted, resisted, and transformed.     

Making-Home From Below: Domesticating Footpath and Resisting “Homelessness” in Mumbai

Drawing upon ethnography among footpath dwellers in Mumbai this paper argues that hegemonic ideas and practices of urban inhabitation constrain subaltern visions of home as well as public space. In doing so, it warrants an ontology of urban inhabitation that transcends occupancy politics. It is not just the neoliberal state and property-entrenching capital but also the politics of inclusion that fragments subaltern subjectivities of belonging and dispossession. By highlighting everyday practices, particularly the use of footwear, food preparation and consumption, performance of modesty, and rearing of pets, I articulate two ways in which home is experienced and homelessness is resisted through claims where interlocutors have no spatial legitimacy: by (re)producing spatial and moral boundaries and practising multiple mobilities that enable transient domesticities. This paper thus provides an expanded sense of home that moves beyond the materialities of home making, and binaries of the “private” interior and “public” exterior.     

Exposing Necroburbia: Suburban Relocation,Necropolitics, and Violent Geographies in Manila

When accumulation in southern cities entails the dispossession of informal settlers, where do they go and what spatialities emerge out of their dispossession? In Manila, this occurs through a violent form of suburbanisation. To make way for modern and investment-friendly spaces, informal settlers are exiled to relocation sites in the suburban fringe. This process of accumulation by suburban relocation engenders necroburbia, a dystopic suburban periphery constituted by distant relocation sites where evicted settlers are subjected into violent and asphyxiating everyday geographies. It serves as a spatial fix to enable metropolitan accumulation. Drawing on Achilles Mbembe’s notion of necropolitics, I expose necroburbia as a deceptive and violent space, produced through three spatialities: (1) demolition; (2) relocation; (3) necro-suburbanisms, or everyday ways of necropolitical living. These processes illustrate how urban fantasies of growth in cities like Manila are predicated upon necropolitical realities rendering informal settlers as expendable populations, deserving of everyday brutalities.     

THE POLITICAL ECONOMY OF WORKER PENSION FUNDS

Increasing concentration of economic power within the corporate sector, as well as the extent of corporate control by a few financial institutions such as commercial banks, have been subjects of intense scrutiny and debate in recent years. However, the role of private and public worker retirement trusts in providing power for institutional investors has not been adequately addressed. Pension fund assets, which were relatively inconsequential prior to 1960, and their investment in and share of total corporate equities minor, have grown to over $l410 billion by the end of 1977. In their analysis of and interest in public and private pension trusts, scholars, employers and even employees have tended to emphasize narrow economic issues such as investment performance. It is the central argument of this article that workers’ funds have become a major source of capital in the American economy, and as such have been used to help create and/or sustain practices that adversely impinge on workers themselves. It is argued that pension assets have contributed to: 1) the increasing power of financial institutions; 2) growth of corporate profits that only minimally benefit some pension plan participants; 3)capital shortages for 'socially useful’ investments; and 4)support of corporate enterprises that refuse basic worker demands including unionization itself. The study further suggests that the rapidly growing pension assets have the potential to serve‘the public interest’ as well as the needs of workers. Threat of withdrawal of funds from selected money managers and corporations, and utilization of share–holder voting rights to influence corporate policies can be potent weapons for organized labor. Since this is an exploratory analysis, the aim of the article is to gather, present and clarify basic information on worker pension trusts and to propose alternative avenues for future research in this critical area.     

The Role of Regulations in the Spanish Housing Dispossession Crisis: Towards Dispossession by Regulations?

This paper explores the role of regulations and economic policies implemented in post-crisis Spain in boosting a housing dispossession crisis. The article first claims that the post-2008 crisis has implied shifts in the mechanisms of rent extraction from housing in Spain. Second, it is argued that those shifts in rent extraction have been fuelled by the post-crisis economic policies and regulatory frameworks implemented since 2008. Third, it is claimed that dispossession has been a central strategy used by banks to cope with the new post-crisis regulatory framework. The article thus analyses the different strategies carried out by banks and hedge funds to enforce foreclosures and other dispossession strategies since 2008. Furthermore, it explores the different motivations and ideologies that led to the roll out of different banking regulations and the variegated impacts that these regulations have had on Spanish bank and hedge fund strategies vis-à-vis housing dispossession.     

An analysis of technological potential and regional development processes in Rhône — Alpes

A region's technology potential can be developed in three ways: public finding; private investment (by business); and an intermediate area which ensures coherence between the public and private sectors, and which is mainly to be seen in interface structures between universities and business. After presenting these ways for Rhône‐Alpes, the paper introduces the regional policy to promote science and technology. According to French centralized political structure, the regional government acts as a lever. The region's innovation‐oriented policy, which should not be confused with a research‐oriented policy, has the impact of aiming all action at improving the technological environment of business, and at facilitating their economic development by integrating new technologies. Similarities between Rhône‐Alpes and Baden‐Würtemberg have led these two regions to cooperate increasingly in the fields of science and technology. The ‘four motor‐regions for Europe’ (with Lombardia and Catalonia) experiment in the field of new‐material investment cooperation could be useful if we think of the process aimed at strengthening integration in the European Community.     

Managing Conservation of the Built Heritage in Post‐socialist Budapest: Evidence from the Old Jewish Quarter

Like other Eastern European countries, Hungary has undergone processes of societal and economic restructuring since 1990. This has given rise to a changed cultural‐political context shaped by forces such as (re)privatisation, strengthening of local government and growth of civil movements. This has led to new opportunities as well as challenges for managing conservation of the built heritage. In Budapest, protection of the built heritage is achieved either through state protection of outstanding ‘monuments’ or through conservation objectives dictated by planning authorities within a two‐tiered local government system. These different levels of conservation authority can sometimes lead to conflicting approaches, as in the case of recent urban renewal in the Old Jewish Quarter. This paper examines the approach to urban conservation taken in Budapest at the various official levels, as well as organised initiatives by the voluntary sector in the light of post‐socialism and associated cultural change.     

Evictions for development: Creative destruction,redistribution and the politics of unequal entitlements in inner-city Addis Ababa (Ethiopia), 2010–2018

Ethnographies on evictions and critical urban studies have showed how, globally, corporate and government seizure of urban space has been fundamental to the production of circuits of values under capitalism. This paper adds another layer to the scholarly understanding of evictions. Drawing on long-term ethnographic research on the economies of Addis Ababa's inner city and the politics of city building in Ethiopia's capital carried out between 2010 and 2018, I explore how evictions not only helped make room for private investments and urban regeneration. Evictions helped make the logics of investments and capital accumulation the framework within which the reach and the scope of policies of redistribution have been defined. By exploring how redistribution is made compatible with dispossession, this paper explores how evictions reshaped the terms of poor people's adverse incorporation in Addis Ababa's development through a political and moral economy of unequal entitlement.     

Labour Migration,Capitalist Accumulation,and Feudal Reproduction: A Historical Analysis from the Eastern Gangetic Plains

This paper engages with the long‐running debate on the transition from farm‐based livelihoods to capitalism in the context of labour migration. Tracing the historic evolution of modes of production in the peripheral Mithilanchal region of the Eastern Gangetic Plains, it notes how the economic processes which are today driving the peasantry into the labour force through migration are not directly connected to the process of capitalist accumulation in the diverse locales where labour is employed, as is somtimes implied in the research on classic situations of “accumulation by dispossession”. The entry of the peasantry into the surplus labour pool is instead linked firstly, with a complex convergence of internal changes within a non‐capitalist feudal mode of production on an economic, cultural and political level, and secondly, with the stresses brought about in the wake of expanding capitalist markets. The paper notes however that migrant labour still generates substantial profits for capitalism with a sharing of surplus between the latter, and landlord‐money lenders. It argues that the relationship between modes of production in this context, is neither functional nor coincidental, and is linked instead with larger – at times opportunistic – class alliances which have evolved to fit the current political‐economic conjuncture.