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Cities and the Financial Crisis

Aalbers, Manuel B.

International Encyclopedia of the Social & Behavioral Sciences, 2015, Vol.3, p.579-584

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Title:
Cities and the Financial Crisis
Author: Aalbers, Manuel B.
Subjects: Capital switching ; Capitalism ; Castells, Manuel ; Cities and towns ; Crisis management ; Economic geography ; Financial crises ; Financial crisis ; Financialization ; Globalization ; Harvey, David ; Housing ; Housing bubble ; Mortgage market ; Mortgages ; Occupy Wall Street ; Overaccumulation ; Residential mortgage-backed securities (RMBS) ; Social movements ; Subprime lending ; Subprime loans ; Switching theory ; United States of America ; Urban geography ; Urbanization
Is Part Of: International Encyclopedia of the Social & Behavioral Sciences, 2015, Vol.3, p.579-584
Description: There is a long history in social science that connects urbanization to capitalism. This article discusses how the work of Manuel Castells and in particular David Harvey informs our understanding of the urbanization of financial crises in the United States and elsewhere. The concepts of capital switching and financialization are central to the argument presented here. The article also includes a discussion of the management of the crisis, focusing on both the failed institutional response to the financial crisis and the global and local grassroots responses to the financial crisis.
Publisher: Elsevier Ltd
Language: English

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