The contradictions of mediation

Intermediaries and the Financialization of Urban Production

Dados Bibliográficos

ID2159787
AutoresLlerena Guiu Searle (0000-0003-3863-7835, University of Rochester)
Ano2018
Volume47
Fascículo4
Páginas524-546
Data de publicação2018-10-02
Peer ReviewedSim
Open AccessNão
TipoARTICLE
PeriódicoEconomy and Society (JOURNAL)
Identificadores do periódicoISSN: 0308-5147 • E-ISSN: 1469-5766
EditoraInforma UK Limited (PUBLISHER • GB)
DOI10.1080/03085147.2018.1538638
OpenAlexW2903469536
IdiomaEN
Citações recebidas29
Referências citadas49

This paper uses a case study of an Indian real estate investment fund to understand the financialization of urban production. It argues that chains of intermediaries transform fixed, illiquid parcels of land into financial assets open to mobile capital. By investigating how such chains are made, it highlights the agency of the actors who build them. Yet, an examination of the fund's failure in the aftermath of the 2008 credit crisis demonstrates that the intermediaries that capitalists rely on in order to make liquidity possible can actually generate risks and slow transactions, contributing to illiquidity. Thus, to understand the financialization of urban production, we must take into account the ways in which such contradictions of mediation shape dynamics of spatial fixity and capital mobility

Agency (philosophy · Business · Capital (architecture · Economics · Financial intermediary · Financial system · Financialization · Intermediary · Intermediation · Investment (military · Market economy · Market liquidity · Mediation · Microeconomics · Order (exchange · Political science · Politics · Production (economics · Real estate · Sociology · Banking stability, regulation, efficiency · Housing, Finance, and Neoliberalism · Political Economy and Marxism · Finance