By Ray Forrest, Sin Yee Koh, Bart Wissink
With the increase of wealth inequalities, our towns are altering dramatically. This assortment seriously engages with and advances latest debates at the super-rich and their roles in those ameliorations. An interdisciplinary variety of contributions from foreign specialists together with sociologists, geographers, historians, discourse analysts, and concrete experiences experts demonstrate an important elements of the genuine property funding practices of the super-rich, their social areas within the urban in addition to the special effect of the super-rich at the transformation of 4 key towns: London, Tokyo, Singapore and Hong Kong. via drawing jointly various disciplines, views, and studies throughout various geographical contexts, this booklet deals a clean, comparative, and nuanced tackle the super-rich and the 1% urban, in addition to an outstanding, empirically and theoretically grounded foundation to consider destiny examine questions and coverage implications.
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Extra info for Cities and the Super-Rich: Real Estate, Elite Practices and Urban Political Economies
13 wealth from political controversy. ’ In doing so, he asks if we should approach the super-rich as some kind of social class. As he suggests, however, it might be more productive if we conceptualize the super-rich in reference to networks of agents and intermediaries, and not as a distinct class by itself. The remainder of this book is organized into three parts, covering the themes of real estate investments, elite spatialities and practices, and urban political economies respectively. As we have noted, real estate is a significant source of wealth for the super-rich.
Dardot & Laval, 2014). One possible way of understanding the gambit of the super-rich is to o vercome this paradox, to live wholly within the negative liberty of money, without even depending on the active, modernising state that has always been an indispensable tool of neoliberalism. If the emergence of neoliberalism was ELITES WITHOUT HIERARCHIES: INTERMEDIARIES, ‘AGENCY’... 25 characterised by a new fusion of corporate and state interests, a key trait of the super-rich is to reduce their intimacy with the state or other public/ political actors.
It is a problem of mutually beneficial contract under conditions of uncertainty, rather than a problem of hierarchy under conditions of opposing interests. The area where principle–agent theory has been most influential over recent decades has been in corporate governance, where it has been ELITES WITHOUT HIERARCHIES: INTERMEDIARIES, ‘AGENCY’... 27 intimately involved in the rise of ‘shareholder value’ as the organising purpose of business management (Lazonick & O’Sullivan, 2000). Viewed from a methodologically individualist perspective, corporate governance becomes a problem of how to ensure that senior managers act on behalf of shareholders, rather than in their own interests.