Cities and Crisis: New Critical Urban Theory by Kuniko Fujita

By Kuniko Fujita

Spotting the deep kin among politics, finance, towns and electorate, this ebook argues for a rejuvenated account of city thought.

The publication emphasises the necessity to comprehend the significance of the 2008 international monetary main issue and the way the obstacle impacts towns nested in quite a few political economies. Situating city thought within the present financial system, it powerfully illuminates the dynamic among background, conception, and perform. Stressing how catastrophic social and financial calamities lower than the trouble bring about reorganised urban constructions, urban lifestyles and town regulations and accordingly new city event, it demands theoretical views that may converse to those difficult alterations.


This groundbreaking identify is a needs to for a person drawn to city existence and its fast pursuits. it is going to be particularly invaluable for college kids and researchers in city sociology, making plans, geography, city and local improvement and concrete experiences

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How effective are different policies such as reserve accumulation and capital controls in protecting urban economies from a financial crisis, national or global? Is there any variation in the financial architecture from city to city or nation to nation? Despite banks’ dependence on national governments for rescue in past financial crises in the US, East and Southeast Asia, Scandinavia, and Latin America, global city proponents have kept insisting on the ahistorical and utopian global city view uprooted from any financial crisis and nation-states.

Chris Pickvance contends that it’s important to understand why the crisis happened in a given nation. Pickvance (2013) explores specific institutional factors that caused the crisis in Britain and refutes critical Introduction 31 urban explanation that the subprime crisis in the US played a crucial and necessary role in the US and UK financial crisis via the global interconnections between banks. ” Pickvance argues that the banking systems in the US and UK had developed in a fundamentally unstable way and that this was the primary cause of the financial crises, with the subprime crisis playing at most a contributory role.

In the real world, the concept of global city is, if anything, a nightmare, as a big financial crisis is bound to happen and crash financial centers like London and New York. The 2008 crisis disclosed the reality of finance industry–state relations as well as city–state relations and revealed how groundless global city and global city network arguments were. Furthermore, they are totally blind to the global imbalances on which London’s City and New York’s Wall Street thrived. It turned out that global cities – New York and London – depended upon high risks of leveraging and geopolitics.

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