Work

World cities under conditions of financialized globalization

Year: 2014

Type: article

Abstract: This paper interrogates the enduring yet changing role of world cities as centers of capitalist ‘command and control’ amidst deepening uneven development. By incorporating financialization processes in Friedmann’s (1986) world city hypothesis, we hypothesize that the world city archipelago remains an obligatory passage point for the relatively assured realization of capital. The advanced producer services complex appropriates superprofits as producers of co-constitutive knowledge on operational and financial firm restructuring, the creation of new circuits of value, and capital switching. Geographically, beyond the international financial center shortlist, the wider world city archipelago inserts finance capital (logics) in contemporary economies and societies.

Source: Progress in Human Geography

DOI: 10.1177/0309132514558441

Authors: David Bassens, Michiel van Meeteren

Institutions: Vrije Universiteit Brussel, Ghent University

Language: English

Topic: Global Urban Networks and Dynamics

Subfield: Urban Studies

Field: Social Sciences

Domain: Social Sciences

SDG: Sustainable cities and communities

Open Access status: green

Funder: Royal Geographical Society