Speculative urbanism and the urban-financial conjuncture: Interrogating the afterlives of the financial crisis
Speculative urbanism and the urban-financial conjuncture: Interrogating the afterlives of the financial crisis
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DOI：
10.1177/0308518x211016003
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发表时间：
2021-05
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影响因子：
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通讯作者：
Michael Goldman
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文献类型：
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作者：
Michael Goldman
本文提出了一种分析方法来理解投机性城市化的历史时刻，其中全球金融资本在城市转型中发挥着越来越重要的作用。尽管关于城市金融化的学术研究对全球北方和南方发生的情况进行了鲜明的区分，将南方的过程描述为从属或边缘化的过程，而将北方描述为成熟和稳定的过程（尽管不稳定），但本文试图证明南北分歧作为解释力的效果较差。相反，它提出了一种分析方法，适应后殖民地图上金融资本的持续活力和标量间的超流动性，换句话说，是一种关系-结合的方法。文章通过将城市形态和项目分析为金融和城市规划实践联系所构成的过程，提出了“遵循金融战略”的方法。它密切关注金融在国家和国际国家行为者的调解下，跨越国界、部门、基础设施和条件对跨标量金融工具（例如套利、利率互换、债务抵押债券和货币对冲）的使用。这种分析方法的价值将通过城市内和跨城市发生的著名金融交易来说明，以强调其投机和金融特征，特别是强调穿越西班牙、美国和印度城市的投资。这里的重点是从 2008 年全球金融危机的废墟中浮现出来并由投机性城市化不断扩大的话语物质形态所塑造的金融战略。
This article proposes an analytical–methodological approach to understand this historical conjuncture of speculative urbanism in which global finance capital plays an increasingly important role in urban transformation. Whereas the scholarship on urban financialization makes sharp distinctions between what occurs in the global North and the South, portraying the process in the South as one of subordination or peripheralization and in the North as mature and stable (although volatile), this article seeks to demonstrate that the North–South divide is less effective as an explanatory power. Instead, it presents an analytical approach that is attuned to the relentless dynamism and inter-scalar hyper-mobility of finance capital working across the postcolonial map—in other words, a relational–conjunctural approach. The article suggests the method of “following the financial strategy” by analyzing urban forms and projects as processes constituted by the nexus of practices in finance and city planning. It looks closely at finance’s use of inter-scalar financial tools (such as arbitrage, interest rate swaps, collateralized debt obligations, and currency hedges) across borders, sectors, infrastructures, and conditions, as mediated by national and international state actors. The value of this analytical–methodological approach will be illustrated through notable financial transactions occurring in and across cities to emphasize their speculative and financial characteristics—specifically highlighting investments traversing cities of Spain, the USA, and India. The focus here is on financial strategies emerging from the detritus of the 2008 global financial crisis and shaped by the expanding discursive-material formation of speculative urbanism.