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The editors of the journal Environment & Planning A: Economy and Space have announced the winners of the Ashby prizes for the most innovative papers published in the journal in 2023. The winners are Renee Tapp and Richard Peiser for their paper 'An Antitrust Framework for Housing' and Vinay Gidwani and Carol Upadhya for their paper 'Articulation work: Value chains of land assembly and real estate development on a peri-urban frontier'. The papers have been made free to access for one year. The winning papers explore topics such as monopolies in the housing market and the inter-scalar value chains of land assembly and real estate development. [Extracted from the article]

The introduction to this theme issue discusses a series of papers examining the increasing marketisation of social reproduction and its effects on systems that sustain human and social life. This is done by examining the frontiers, framings, and frictions that arise when market systems are constructed to enable capital accumulation in the realm of social reproduction. Frontiers identify the expansion of market logic into new areas, framings explore how financial actors attempt to bring the logic of social reproduction within the purview of market competition, and frictions highlight the various tensions that generate resistance to the roll out of market logics. Through establishing these three areas, we argue that both market structures and systems of social reproduction should be understood as geographically variegated and, at times, uncertain. This variegation necessitates an understanding of marketised social reproduction as forged through complex articulations of market and non-market logics. Using cases from surrogacy to smart electricity meters, the papers in this theme issue illustrate that while these articulations may generate benefits for some individuals, households and communities, such processes of marketisation can introduce new layers of inequity and undermine the ethical relations and social commitments that sustain life—in the service of enabling accumulation. [ABSTRACT FROM AUTHOR]

This article discusses the recent resurgence of interest in capitalism in social sciences and humanities fields. Scholars are reexamining capitalism and its relationship to uneven development and social difference. The article brings together papers from various disciplines, including geography, sociology, anthropology, and global political economy, to explore how these concepts intersect. The papers highlight the importance of understanding capitalism as an overdetermined whole and emphasize the role of spatial and social difference in its development. The authors also emphasize the importance of struggle and concrete social interventions in shaping the geographies and temporalities of uneven development. [Extracted from the article]

The critical platform studies literature has built a compelling picture of how techniques like worker (mis)classification, algorithmic management and workforce atomisation lie at the heart of how 'work on-demand via apps' actively restructure labour. Much of this emerging scholarship identifies that platform workforces are predominantly comprised of migrant and racially minoritised workers. However, few studies theorise migration and race as structuring logics of the platform model and the precarity it engenders. This paper addresses this gap by exploring how the platform economy – specifically work on-demand via apps – both shapes and is shaped by historically contingent contexts of racialisation, and their constitutive processes such as embodiment and immigration policy/rhetoric. Beyond identifying the over-representation of racial minorities in the platform economy, it argues that processes of racialisation have been crucial at every stage of the platform economy's rise to dominance, and therefore constitutes a key organising principle of platform capitalism – hence the term 'racial platform capitalism'. In doing so, this paper draws on the racial capitalism literature, to situate key platform techniques such as worker (mis)classification and algorithmic management as forms of racial practice, deployed to (re-)organise surplus urban labour-power following the 2008 financial crisis. This framework will be explored through an ethnographic study of Uber's rise in London. Through this, the paper demonstrates a co-constitutive relationship, where the conditions of minoritised workers in a global city like London post-2008, and the political economy of platform companies can be said to have co-produced one another. [ABSTRACT FROM AUTHOR]

Considering China's 'isolated' digital ecosystem, this paper examines China's 'check-in' activities to understand how the wanghong economy is driving China's new rounds of urban development, with the purpose of supplementing existing research on digital economies from the Chinese context. Focusing on a representative case study area called Dongshankou in Guangzhou, which is regarded as one of the most popular wanghong places and an emerging commercial centre, I sought to enrich existing studies about digital economies and extend scholarship on platform urbanism from the cultural economy perspective. First, I argue that Chinese consumers' check-in activities function as the data accumulation process, structuring Dongshankou's digital capital through the assemblage of online posts and geotags. Therefore, Dongshankou's urban development challenges the conventional view of creativity as the key factor in the cultural economy for urban development, given that digital capital is now the key driver for urban development in the digital age. Second, the growth of wanghong stores in Dongshankou reveals how the wanghong economy is materialised into urban cultural objects. Emotional value – a crucial selling point that these wanghong stores aim to provide to facilitate consumers' check-in activities – illustrates how China's highly participatory digital ecosystem extracts users' emotions and bodily experiences into the process of capital accumulation, which structures the 'platform urbanism' through our daily lives. This paper broadens the horizon for an alternative theoretical agenda in platform urbanism: beyond focusing solely on platform algorithms, how digital platforms and emotions become inextricably linked in economic production should be further explored. [ABSTRACT FROM AUTHOR]

How land markets should be regulated is a fraught political question. This paper argues that the heterodox political economy of Karl Polanyi – underutilised in urban studies and planning scholarship – provides a useful language to analyse the role of urban planning in development land markets. We ground our analysis in the concept of embeddedness, building on Polanyi's core contention that economic behaviour is not, and cannot be, distinct from social, political and cultural relations. We juxtapose an account of the institutionalisation of urban planning in England during the mid-20th century with contemporary neoliberal reforms, analysing the dynamic reconfigurations in how development land markets have been differently embedded via the planning system in relation to a shifting political, ideological and economic environment. The paper foregrounds the co-constitutive nature of state regulation and markets, moving past the simplistic regulation-deregulation dichotomy frequently adopted to frame government intervention via the planning system. [ABSTRACT FROM AUTHOR]

Financial capital is currently being heralded for its potential to provide social and environmental transformations. This paper provides an in-depth case study of the Seychelles Blue Bond, highlighting the state's (fiscal and planning) capacities as central in mediating the future rents and value production when channelling thematic bond proceeds. Even as the Blue Bonds tapped into private capital markets and bond proceeds were intended to provide leverage for private businesses, this operation was contingent on complex economic and environmental planning by the state. Using literature on fictitious capital, rent and the role of the state in governing natural resources, this paper shows how the state needed to govern investment flows and its environmental conditions simultaneously in the case of the Seychelles Blue Bonds. By examining how the state tries to govern environments and finance in tandem, this paper contributes to geographical research on public fiscal policy, financialisation and environmental governance. [ABSTRACT FROM AUTHOR]

Mumbai, along with a few other metropolitan cities in India, witnessed an unprecedented flow of finance capital toward the development of new real estate soon after efforts to liberalize the country's real estate sector took force in 2005. Fifteen years later, however, the reality on the ground looks bleak. Not only does the demand for housing remain as high as ever before in Mumbai, but hundreds of real estate projects lie unfinished, abandoned, and/or unsold. In its attempt to make sense of the city's real estate crisis, this paper brings to the fore important insights about the organizing logics of urban land markets. Drawing on an exhaustive database of real estate indicators combined with ethnographic fieldwork, the paper reveals a tendency among Mumbai developers to fight competition by chasing land irrespective of long-term financial prudency, which in turn hinders the development and sale of new real estate. The paper therefore proposes that the reproduction of capitalistic arrangements within Mumbai's land market is precarious because the very lands that are to be turned into commodities inevitably become entangled in new socio-legal encumbrances, just as the separation of "land from man" begins to seem plausible. By demonstrating how real estate activity is nevertheless, centered problematically, around this unceasing yet always incomplete pursuit of commodified land, the paper contributes to the scholarly project of developing a heterodox conceptualization of land. [ABSTRACT FROM AUTHOR]

Since the 1980s, U.S. finance has grown disproportionately in power and influence as American investment funds have become the largest shareholders of U.S. corporations, managing tens of trillions of dollars in investments. This paper provides a novel empirical analysis of the ascent of asset manager capitalism in the United States and explores the extent of its global spread by examining the SEC Form 13F filings of U.S. institutional investors along with an extensive global corporate ownership dataset provided by Orbis. This paper finds that U.S. finance owns approximately 60% of U.S. listed companies (an increase from 3% in 1945) and 28% of the equity of all globally listed firms. As the largest global shareholders and the exemplars of U.S. asset managers, the Big Three hold investments in 81% of U.S. listed companies and own 17% of the U.S. equity market, while also appearing as a shareholder in 20% of non-U.S. listed companies and owning 4% of the non-U.S. equity market. This paper illustrates that the ascent of the age of passive investment and universal ownership, exemplified by the activities of the Big Three, has produced a sectorally and geographically uneven landscape of capital flows, exacerbating the existing divides between the heartlands and hinterlands of global financial markets. With the ownership of listed companies being increasingly concentrated in the hands of a small number of increasingly powerful funds, this paper ultimately argues that it is in the ownership of the majority of global capital that the power of modern finance lies. [ABSTRACT FROM AUTHOR]

Platform labour scholars have noted the prevalence of migrant workers in the gig economy. This paper builds on this research but interrogates the broad concept of 'migrant labour'. The study draws on biographical interviews with platform workers in grocery delivery and domestic work platforms in Berlin, Germany as well as expert interviews with union representatives, migrant organisations and white-collar platform company employees. Through an examination of the mobility strategies of platform workers in this subset of the platform economy, the study reveals a stratification of migrant trajectories and of skills needed to engage in platform work across different types of labour platforms. The study finds that platform companies draw on a workforce that consists of recently arrived young migrants with comparatively high education, language skills and digital literacy. Through close analysis of an understudied section of the gig economy, the paper contributes to the ongoing theorisation of the nexus of migration regimes and platform-mediated labour regimes. The findings complicate the notion of 'accessibility' of platform work and call for the inclusion of visa regimes, immigration categories and particular skill sets in future research on platform labour. [ABSTRACT FROM AUTHOR]

An enduring legacy of the 2007–2009 financial crisis is the growth of "social" and "impact" investing, markets dedicated to the use of financial capital to achieve social good. This paper examines one key manifestation of these markets: the social impact bond, a financial device which uses private capital to fund social programs. While social impact bond (SIBs) have been viewed as a testament to the power of finance and the "financialization" of the social sector, the paper instead highlights the struggles and limits of the SIB enterprise. Informed by a multi-year study of SIBs in Canada, the USA, and UK, and the theoretical lens of the social studies of assetization combined with an ecological approach, these struggles are conceived in terms of the challenge of operationalizing SIBs' financial imaginary and managing the gaps between finance and the social sector as distinct ecologies. Particular emphasis is placed on three valuation devices—liquidity, risk, and rigor—which are central to this effort. Rather than "hinges" connecting these worlds, these devices have emerged as points of conflict, revealing a distinctly spatial politics which helps to explain the limits not only of SIBs but also other forms of financialization at the frontiers of (social) finance. [ABSTRACT FROM AUTHOR]

Campaigns for personal health expenses make up the largest and fastest-growing segment of donation-based crowdfunding. Set against the backdrop of retrenchment and disinvestment in public healthcare systems across the global North, health-related crowdfunding is a way to navigate increasingly marketised systems of social reproduction. Despite high profile success stories, campaigns vary significantly in their ability to capture the hearts, and ultimately wallets, of donors. While existing analyses of online campaign pages offer some insight into the marketing of healthcare needs, far less is known about practices and experiences of crowdfunding platform users, including campaigners. Bringing literature on crowdfunding together with accounts of the marketisation of care, our paper asks: how do campaigners work to secure crowdfunded healthcare? Through the accounts of 15 people campaigning on behalf of family or friends in Aotearoa New Zealand, we show how attempts to appeal to donors depend on campaigners' abilities to 'market' illness and need in ways that resonate with the crowd. We have two main foci. First, we examine the responsibility and responsibilisation of campaigners to engage and perform accountability to crowdfunders. Second, we show how campaigners mobilise recipients' traits of deservingness and other culturally favoured personal qualities to appeal to the crowd's perceived predilections. In sum, the paper demonstrates how the use of crowdfunding is both necessitated by the marketisation of healthcare while simultaneously exerting its own form of market discipline. [ABSTRACT FROM AUTHOR]

This paper shows how the capture and circulation of data about social lives are enabled through digitalisation and market logics and practices. Drawing on Australia's new Consumer Data Right, a state-led initiative that creates access rights to personal data, we distinguish between market promises and the translation of market models in actually existing markets and regulatory frameworks. 'Life's work' is brought to market through promises to fix the problems of essential service markets by harnessing data. We argue that the Consumer Data Right is underpinned by a more ambitious vision to create future markets that transcend individual sectors through aggregation across the economy. These visions are silent on how the data, which cannot be owned and therefore cannot be commoditised, is capitalised. We show the Consumer Data Right's discursive, administrative, regulatory and technical aspects through which the previously hard-to-penetrate spaces of the home and everyday life become enrolled in circuits of value, both present and future. This involves technical standard setting by state agencies for accreditation, consent and approval processes; discourses of trust and calculative devices to promote consumer control; and weak de-identification and deletion requirements that grant data an afterlife beyond the original agreed use. This paper calls for greater attention to the enabling role of the state in digital markets as a counterbalance to the focus on the state's regulatory and constraining role. We argue for a more staged approach to market-making analysis to show how the state lays the market foundations that can then be deepened through practices of intermediation and capitalisation by private firms. [ABSTRACT FROM AUTHOR]

The agency of casualized and spatially isolated workers has recently received increased research attention. This paper extends this line of research to seafarers, a traditional but also casualized and spatially isolated workforce. More specifically, it examines cases of collective action by Chinese seafarers on WeChat, a social media platform, in response to problems and grievances caused by COVID-19 control measures during the pandemic. It shows that seafarers, building on the WeChat platform and together with other maritime stakeholders, have established a socio-technological infrastructure that enables them to mobilize their peers to take action when they experience injustice at work. Their mobilization is morally charged, involving a frame of injustice that evokes moral sentiments in the participants and compels them to act to provide moral support to the distressed seafarers and to exert moral pressure on the authorities. These agency practices on WeChat thus highlight the moral dimension of collective action and reflect what can be called moral mobilization. [ABSTRACT FROM AUTHOR]

In the context of the developed economies, recent political economy scholarship has highlighted the growing role of intangible assets (brand equity, software, business processes, patents etc.) in corporate portfolios. Much of this literature has emphasized how intangible assets erect barriers to entry, produce artificial scarcity of key inputs, enhance the pricing power of firms and thus lead to greater and greater levels of concentration. Being as they are monopoly rights and privileges, intangible assets represent the relational power of their owner vis-à-vis those excluded from their ownership. While much of this literature has focused on the developed world, this paper turns its gaze to the case of a developing country and analyzes the patterns and trends of intangible assets for a sample of Indian firms for the period 2000–2022. The analysis reveals a substantial acceleration in the weight of net intangible assets relative to net physical assets, especially after 2008. It also suggests that the largest and most powerful corporations are the ones that have contributed to this spike. Ranked by assets, sales and ownership category, the results show that intangible asset accumulation has been the strongest in the highest echelons of the corporate hierarchy. Moreover, the patterns of intangible asset accumulation have been such that they have not been restricted to the traditional "rentier" sectors in the sense that their presence in the "productive" sectors has been as important if not more so. By focusing on firm-level patterns of intangible asset accumulation, the results show the internal and necessary connections between accumulation and value capture that undergirds modern day capitalism in the Southern peripheries. [ABSTRACT FROM AUTHOR]

Cryptocurrencies, such as Bitcoin, have garnered significant attention in scholarship and beyond. Geographical work on cryptocurrencies has focussed on how their energy demand interacts with local communities and economies. Less is said about the organization of cryptoasset firms and their associated demands. This paper illuminates the complex geographies of one such firm, Bitfury Group, to investigate the global and national forms and structures such companies take and the factors encouraging them to concentrate operations in certain areas. To investigate the latter, we adopt the case study of Bitfury's operations in Georgia, a South-Caucasian country where its presence is significant. We adapt Haberly et al.'s analytical framework to explore Bitfury's geographical dimensions. We highlight how cheap electricity, regulatory and taxation regimes, personal encounters and personalities, and the materialities of hardware and energy-saving technology define these geographies and illuminate how Bitfury actively curates advantageous regulatory spaces. We encourage future work exploring Blockchain and Bitcoin technologies to understand the companies involved as simultaneously material and virtual, and as centrepieces in global networks interweaving production and finance. [ABSTRACT FROM AUTHOR]

Despite the large evidence of the recent globalization phenomenon at national level, very little is known about the involvement of regional economies in Global Value Chains (GVCs). Instead, the regional dimension of GVCs is of primary importance since regions require an absolute advantage to be part of an international production chain. It can in fact be easily the case that within the same country both the participation and the gains from GVCs strongly differ among regions. In going to the territorial roots of GVCs, the paper aims to conceptualize a taxonomy of different modes in which regions can be involved in GVCs, based on different intensity of participation and rewarding conditions. Based on regional trade in value added matrices, the taxonomy is applied to the manufacturing sector at NUTS2 regions in Europe, combining two indicators of regional participation and 'terms of trade' imposed in the chain. Although national patterns are visible, and a clear divide between Eastern and Western Europe emerges, the modes of involvement are highly diversified within countries. Moreover, through a multinomial logit model, the local characteristics associated with the different roles that regions can have within GVCs are looked for. Their identification has far-reaching normative consequences that intervene in the capacity of regions to gain from participation in GVCs, and to mitigate the interregional income distribution effects that this involvement may cause. [ABSTRACT FROM AUTHOR]

Since 2013, Permitted Development Rights (PDR) in England have allowed commercial-to-residential conversions in locations once deemed suitable only for non-residential land-use. This deregulation of planning control has been justified as a way of encouraging more home-building in areas experiencing 'housing crisis', but its overall consequences remain unclear. This paper hence compiles quantitative evidence on a city-wide scale on the price, size, build and location of these conversions in London 2013–2021. It finds that homes produced through this route are generally smaller than the London average and are over-concentrated in neighbourhoods with fewer accessible green spaces and higher-than-average levels of air pollution. Here, larger conversion schemes (of more than 10 units) appear particularly problematic, potentially subjecting residents to forms of 'slow violence' that could have long-term consequences for their physical and mental health. The paper also finds that, on average, PDR conversions are marginally more affordable than other new developments in the capital, but are also more expensive per square metre, suggesting deregulation is allowing developers to 'extract' maximum value from these schemes rather than providing affordable homes per se. The implications of this are discussed in relation to the politics of housing in London and the wider forms of planning deregulation allowing developers to accrue increased profits from housing in an era of intense financialisation. [ABSTRACT FROM AUTHOR]

The rise of asset managers as key nodes of financial intermediation has been one of the most fundamental changes in the global economy over recent years. An emerging literature on asset manager capitalism (AMC) discusses these changes and its implications, though largely in the context of corporate governance in advanced capitalist economies. This paper expands the remit of the AMC literature to spaces outside the global capitalist core, and assesses its implications, based on quantitative data on asset manager allocations and flows, and qualitative data from semi-structured interviews. We find that despite the growth of asset managers' investments into emerging markets, their presence remains limited and that the threat of exit remains present but increasingly tied with global conditions and the composition of benchmark indices. We also find that asset managers' investments are increasingly focussing on bonds, and are heavily concentrated in a few companies and sectors, revealing a marginal rather than broad-based presence. Finally, we find very limited evidence that asset managers use their voice to influence corporate governance and macroeconomic policy. Overall, asset managers do not seem to fundamentally reshape the characteristics of financial subordination of emerging markets, and the characteristics of AMCs remain, for now, specific to advanced economies. [ABSTRACT FROM AUTHOR]

Drawing from neo-Gramscian theory, the paper explores how urban austerity governance mediates crises of neoliberal hegemony. Focusing on the decade after the Global Economic Crisis of 2008–2009, it compares four European cities disclosing five intersecting characteristics of urban political economy that contributed to sustaining and disrupting austere neoliberalism. Austere neoliberalism was sustained through three characteristics: economic rationalism, state revanchism and weak counter-hegemony, but undermined by both weakening hegemony and the combustibility and generativity of urban struggles. Hence, although state revanchism is a prominent feature of urban politics, and novel counter-hegemonic forms are elusive, struggles for equality and solidarity remain contagious, tenacious and vibrant. Urban governance is a crucial arena for studying the interregnum, signposting multiple ways in which neoliberalism survives, mutates and dies. [ABSTRACT FROM AUTHOR]

State labour inspection has been relatively underresearched in economic and labour geography, despite its prospective role in tackling worker exploitation as part of national state regulatory strategies. This paper seeks to address this gap by critically examining state labour inspection as a government function capable of upholding labour standards within and across economic space. A key contribution of the paper is to make stronger connections between workers' spatial strategies and their ability to shape how labour inspection and standards enforcement is carried out. Focusing upon the UK and Ireland, we examine different ways in which some labour-friendly groups have sought to contest but also to support state labour inspection efforts with a view to protecting workers. [ABSTRACT FROM AUTHOR]

This paper examines profit-seeking investments that US financial industry actors have made in the name of racial justice since the summer of 2020. This trend, which builds on the proposition of "sustainable" finance that private profits and social benefits can coexist, is known in the industry as racial justice investing. To understand how the industry frames racial justice as an object of financial intervention, I draw from theories of social reproduction, racial capitalism, and social finance to analyze the historical and contemporary processes through which racial in justice is conceived in economic terms as a "gap" between the wealth of white and racialized households. Then, I analyze the political economy of these investments, focusing on how solutions to the wealth gap are oriented around extending credit and economic inclusion to racialized households and business owners. Ultimately I illustrate how the financial industry's investments in closing the racial wealth gap largely sidestep questions of power and, paradoxically, justice that animate many contemporary racial justice movements. [ABSTRACT FROM AUTHOR]

State entrepreneurialism in response to external market stimuli has a state intrapreneurialism counterpart – the entrepreneurialism found within public institutions. In moving beyond the case of Singapore from which the idea was proposed, this paper develops the concept of state intrapreneurialism by injecting a greater sense of the political and territorial heterogeneity of, and competition within, national states that fracture the identification of needs, the crafting of policy narratives, and the forging of domestic and international networks. With reference to the case of South Korea, this paper illustrates how state intrapreneurialism has generated domestic and international markets and reputation in the ICT-assisted city management domain despite elements of competition among public agencies. The case raises broader questions for future research on the relational geographies of politics and bureaucracy in stimulating or stifling state intrapreneurialism. [ABSTRACT FROM AUTHOR]

Processes of outsourcing and offshoring have driven the changing spatial divisions of labour through foreign investment and development of peripheral regions into key offshore destinations for business services. This paper focuses on the role of elites, transnational and domestic, in the transformation of Romania into a major business services offshoring location in Central Eastern Europe (CEE) over the last two decades. The paper reveals the role of elite agency in connecting domestic resources to business services global production networks (GPNs) in order to drive domestic institutional transformation. A lot has been written about the agency of labour; yet there is a gap in our understanding of the agency of elites, specifically how transnational elites articulate with other elites at the national-, meso- and micro-level and produce institutional changes. Drawing on literature on enclave creation and dual economies, the paper illustrates how the alliance between domestic and transnational elites shaped transformation across the sector by implementing labour market flexibilisation and by crafting a 'sound' business environment in terms of infrastructure, investment incentives and bureaucratic framework to emulate institutional conditions of the home country. The development of the Romanian business services sector into an 'enclave economy' has become dependent on collaborative networks with domestic universities and intermediary organisations, which played a key role in facilitating foreign investment attraction and linking domestic resources to the needs of multinational firms. [ABSTRACT FROM AUTHOR]

The home is an ever-changing assemblage of technologies that shapes the organisation and division of housework and supports certain models of what that work entails, who does it and for what purposes. This paper analyses core tensions arising through the ways smart homes are embedding logics of digital capitalism into home life and labour. As a critical way of understanding these techno-political shifts in the means of social reproduction, we advance the concept of Big Mother – a system that, under the guise of maternal care, seeks to manage, monitor and marketise domestic spaces and practices. We identify three tensions arising in the relationships between care and control as they are mediated through the Big Mother system: (a) outsourcing autonomy through enhanced control and choice, (b) increased monitoring for efficient management and (c) revaluation of care through optimisation of housework. For each area, we explore how emerging technological capacities promise to enhance our abilities to care for our homes, families and selves. Yet, at the same time, these innovations also empower Big Mother to enrol people into new techniques of surveillance, new forms of automation and new markets of data. Our purpose in this paper is to push back against the influential ideas of smart homes based on luxury surveillance and caring systems by showing that they exist in constant relation with a supposedly antithetical version of the smart home represented by Big Mother. [ABSTRACT FROM AUTHOR]

Commercial surrogacy marketizes life's work. In the era of neo-liberalism, women's work, which is often intimately performed within a heterosexual marriage in exchange of support, now remains a principal avenue to earn money. This form of feminization of labor has led to the emergence of markets for women's reproductive capacities. The present study stems from my ethnographic journey into the lives of the women who work as surrogate mothers in India. The narratives presented in the paper emerge from my prolonged fieldwork in Anand, Gujarat. It engages with the experiences, understandings, and the voices of these women, who I term reproductive laborers, in order to examine the notion of putting one's reproductive capacities in this intimate market for money. [ABSTRACT FROM AUTHOR]

WISEs encompass a multitude of relations that both fall within – but also exceed – neoliberal capitalist relations. They are often spaces of mutual aid, collectivity and care, and these enterprises can – under limited circumstances – give rise to more-than-capitalist relations. In this paper, we examine the types of organizational and spatial structure that can best support the flourishing of non-capitalist relations, arguing that social enterprises that are part of a collective and networked space are more likely to realize the economies of scale and scope necessary to enhance their transformative possibilities. A case study of one non-profit organization in Toronto, Canada is used to support this argument. [ABSTRACT FROM AUTHOR]

Spotlighting a "green building" project in Chicago (East Garfield Park), this paper explores the various cultural, geographical, and topological factors that serve to pluralize land commodification pathways. Building on the scholarship on rent capture, I re-assemble the politics of green gentrification in East Garfield Park in order to lay bare the dynamic interactions between structure (e.g. financialization of urban space), agency (e.g. expression of needs, purposes, interests), and spatial materiality (e.g. landscapes of built environment). My approach draws on Polanyian geographies, focusing in particular on plural social agencies, the impact of spatial infrastructural configurations on local politics, and the role of narrative/script-making in land development. The resulting conversation entails thicker criticism of municipal planning practices that fail to challenge the foundational assumptions of land market and property economy. Moreover, a number of implications arise from the performative political possibilities of spatial infrastructure: while broader economic structures may constrain the agency of diverse actants, spatial landscapes can nevertheless prove enabling for transformative value politics, with competing narratives on "what is the best use for the land" defying a singular ontology of land as "real-estate-land." [ABSTRACT FROM AUTHOR]

In this paper, we identify when and why migrant gig workers experience liminality in the socio-spatial context of food delivery in the Swedish gig economy. We analyse qualitative interviews and informal conversations with food delivery workers in Stockholm through the lens of the territory-place-scale-network (TPSN) framework as developed by Bob Jessop, Neil Brenner and Martin Jones. We find that workers are challenged to deal with triple liminality regarding their work identities, workplaces and work organisation through platforms. Focusing on liminality as a central aspect of gig work, we further find that despite having little worker agency, some of the study participants engage in what we call liminal agency, that is actively pursuing possibilities for progress in uncertain states of in-betweenness. By unpacking the liminal dynamics that especially migrant food delivery riders are confronted with in their daily working lives, this study contributes to the debate on the migrant gig economy, the spatial turn in organisation studies and efforts from human geography to understand agency in precarious gig work. [ABSTRACT FROM AUTHOR]

During the covid-19 pandemic, basic income pilot programs spread across U.S. cities like the novel coronavirus itself. The policy of no-strings-attached cash transfers marks a potentially significant change in the development of post-austerity politics, but only if basic income programs can endure beyond their trial phase. This paper centers the phenomenon of viral cash —cash transfer programs that mutate and multiply like the coronavirus to which they respond—as a means of assessing the possible pathways from trial programs to standing policy. Drawing on case studies of pilot programs in Minneapolis, St. Paul, and Denver, I argue that basic income pilots extend beyond their end-date by creating individual and institutional constituencies invested in unconditional cash transfers. Focusing on these constituencies draws attention to basic income's role in popularizing child tax credits, program cash stipends and other policy reforms recently enacted by cities and states. Seen this way, basic income's virus-like susceptibility to mutation plays a key role in seeding support for urban policies and politics that counter prior austerity by centering investment in human capacity. [ABSTRACT FROM AUTHOR]

Workforce housing does not reproduce all workers equally. So, what kind of workers does "workforce" housing reproduce? Whose reproduction is prioritized, whose is devalued, and how? A case study of housing access and design in three elite Vail Resorts enclaves in Colorado shows that workforce housing prioritizes the reproduction of a young, flexible androcentric workforce who can be cheaply and easily housed. Extending McIntyre and Nast's theorization of racial subsidies, I argue that resort capital awards unearned gendered subsidies to privileged workers and instantiates what Susanne Soederberg calls "displaced survival," or recursive dislocation, for women workers and those with dependents. I detail how twin processes of displaced survival and gendered subsidy emerge in resort communities using data from interviews, survey, ethnographic observation, autoethnography, and municipal records. By attending to the lived experiences of workers in this niche industry, this paper contributes to literature on geographies of exclusion and expands scholarly understandings of how the gendered political economy of labor is sedimented in housing regimes. [ABSTRACT FROM AUTHOR]

The state has been pivotal in both facilitating financialization and dealing with its consequences, through which the state itself has also been reshaped. This paper proposes a "state selective financialization" framework to highlight the intentionality and selectivity of the state in (de)financialization. Based on practices in China, we examine the latest state efforts to reconfigure the land reserve system in order to cope with local financial risks associated with land-backed borrowing. The state de-leverages reserved land locally and uses it to secure bonds through a state-managed top-down process. The changing mechanism demonstrates the central state's intentional role in selecting financial instruments and recentralizing its control over land financialization, whereby it has tried to mitigate financial risks and oversee local development. Instead of financialization versus de-financialization, we find financialization in China is a selective governance tactic to address state concerns. Moreover, rather than seeing financialization as a process outside the state, this research emphasizes that selective financialization is an internal process to reconsolidate the power of the central state and rebuild alignment among multi-scalar state actors. [ABSTRACT FROM AUTHOR]

This paper traces and critiques gaslighting – the manipulation of circumstances by elite actors to sow doubt or confusion in residents over what is 'real' – as an affective experience of infrastructure planning. Predominantly observed within intimate relationships, scholars now identify gaslighting as a structural condition that manipulates whole communities and reproduces systemic oppression. We concur, extending analysis to the realm of urban infrastructure planning, and drawing connections with Rancièrian critiques of elite orders of governance. In infrastructural worlds, regulatory arrangements have been harmonised to suit coalitions of elite government and private actors whilst extolling the virtues of participatory governance. Megaprojects are legitimised by planning processes that cement monopolies and shroud elite public-private deal-making, while detractors are delegitimised discursively in political and media discourse. Yet, dissent is also pacified via participatory planning processes that invite publics to give testimony but undermine their epistemic and moral validity. This, we contend, is an example of infrastructural gaslighting. The case of Melbourne's West Gate Tunnel Project (WGTP) is instructive – a 'Market-Led Proposal' from corporate infrastructure giant Transurban, backed by the Victorian government – where participatory planning was not simply tokenistic, but rather a discombobulating experience, concealing and 'breadcrumbing' information to publics, while undermining deliberative capacities. Exposing grounded experiences of infrastructural gaslighting, we join other critical urban scholars seeking conditions for just planning practices. Infrastructural planning regimes are consequential, but the realities they police are illusions that are as tenuous as they are politically constituted and, like other forms of gaslighting, are ready for challenge. [ABSTRACT FROM AUTHOR]

Lead firms play a dominant role in the governance structure of conventional global production network (GPN) analyses but this framework is not fully applicable in sectors where (new) regulations, technologies and subsequent market changes have a disruptive effect on its governance structure. This paper proposes an analytical framework to examine how disruptive effects of industrial megatrends in forms of new regulations and technologies and the subsequent market changes could alter the competitive dynamics between lead firms and their tier-I suppliers. Although lead firms are becoming more specialized and highly efficient in specific product segments, they may not always have inter-firm control over their tier-I suppliers. GPN boundaries become more permeable when there is an external shock, such as new regulations or massive shifts in consumer demand, or the entrance of an entirely new lead firm, possibly due to a technological breakthrough or innovative use of existing technologies in a product. This external shock could have disruptive effects on the GPN, from the exit of current lead firms to the entrance of new tier-I suppliers or lead firms. Consequently, a reconstituted GPN with a newly established boundary is then produced. Applying the analytical framework to the automotive industry, it is argued that selected (and new) systems suppliers with expertise in micro-electronics are not only in a prime position to capture the value generated by the increasingly stringent regulatory environment on safety and environmental standards, but also more resilient than the incumbent automakers to three emerging megatrends: electrification, digitalization and autonomous driving. JEL: F23, L14, L20, L62 [ABSTRACT FROM AUTHOR]

This paper probes the function of competition in society through an analysis of the affective landscape that competition creates. Our focus is on education and the connected process of subjectification. We argue that the analysis of competition in human geography needs to advance through abstractions of political economy to the entanglements and relations in which competition is internalised through embodied experience. We conceive competition as a process of organising power relations that work through affective subjectivation and knowledge-production. Those processes are efficiently at work in education, and hence, in young people's everyday lives. It is our suspicion that education is increasingly organised in a way that naturalises competition and marginalises or even closes horizons from other actual and possible modes of social relations and organisational principles. This organising frame links to ideas about learning as an individual endeavour, a linear process that can be pre-planned and measured with representational evidence. To challenge the harmful ethos of personal control and responsibility of young people for their own education and life-paths, we pursue a nonrepresentational analysis of the educational landscape of competition and approach the (learning) human subject as emergent and relationally agentive. Then, also young people's wellbeing needs to be mirrored against the landscape in which it is continually built. As a case for our argument, we discuss two documents linked to Finnish education: an OECD document on education and national competitiveness, and the newly revised curriculum for upper secondary education. [ABSTRACT FROM AUTHOR]

Platform capitalism is a growing reality with a widening social and economic impact. The rapid expansion of Short-Term Rental (STR) platforms has led to new challenges for policy regulation. The main objective of this paper is to shed some light on current conflicts surrounding the regulation of STR. The body of literature on this topic mainly focuses on the increasing substitution of sharing economy by commercial hosts. By contrast, we explain that the ideological notion of host hinders the understanding of the supply-side structure. A critical approach (as critique of ideology and ideological categories) should entail a class perspective based on rent theory and engage with critical works on platform capitalism. In this article, we propose an innovative analytical approach to STR supply-side supported by rent theory, which focuses on the relationship of agents with land and technology ownership and specialised management services, as these are forms of rent appropriation. From this point of view, these supply-side agents are not hosts, but class factions with common and competing economic interests in rent appropriation. Therefore, they can employ a variety of strategies to influence the political regulation of STRs. Based on in-depth interviews with landlords, individual managers, and corporate agencies in Andalusia (Southern Spain), we show the conflicting internal structure behind the ideological notion of host and even professionalisation. [ABSTRACT FROM AUTHOR]

In California, wildfires caused by electrical infrastructure have left the state's investor-owned power utilities with major and growing liabilities. But even in such an incendiary environment, the financial industry has demonstrated that it can profit from disaster. This paper uses the 2019-2020 bankruptcy of Pacific Gas & Electric to explain how. In it, I show how "risk" in California's electricity industry is legally constituted, mediated, and allocated. First, I explain how financial perceptions of wildfire risk in California's electricity industry are shaped by the state's legal and regulatory environment, and how the law is used to manage this risk. I then turn to PG&E's bankruptcy to show how litigation functions as a financial strategy. In court, risk is endogenous to legal-financial practice. I develop the concepts of "legal arbitrage" and "leverage" to explain how law mediates the relationship between risk and finance. I adapt the concept of legal arbitrage to show how financial assets (like those in a utility with unprecedented wildfire liabilities) can possess both legal and market value, which can and often do diverge in circumstances of distress. I use the term leverage to refer to a particular kind of legal-financial power which enables actors to transfer risk away from themselves and onto others. In working through these concepts, I argue that that mainstream perceptions of risk in the financial industry are inadequate, especially in an era of increasing climate insecurity. [ABSTRACT FROM AUTHOR]

ESG metrics are increasingly important in the global investment management industry. Why this came to pass given the limited appetite for responsible investing in the industry is the subject of this paper. Although the business case for ESG provides an explanation for its increasing uptake whereby market actors are increasingly convinced of the merits of ESG as a profit centre, this explanation is insufficient. By contrast, the adoption the ESG programme offers a means of rewriting the terms of risk management and value creation that while grounded in the business case also serve to address challenges to the legitimacy of the global asset management industry. These developments are illustrated in a case study of the establishment and growth of TruCost and its purchase by S&P Global in 2016. [ABSTRACT FROM AUTHOR]

This paper situates Indigenous social reproduction as a duality; as both a site of primitive accumulation and as a critical, resurgent, land-based practice. Drawing on three distinct cases from British Columbia, Canada, Aotearoa New Zealand and Bua, Fiji, we illustrate how accounting techniques can be a key mechanism with which Indigenous modes of life are brought to the market and are often foundational to the establishment of markets. We argue that accounting practices operate at the vanguard of primitive accumulation by extracting once invaluable outsides (e.g. Indigenous land and bodies) and rendering these either valuable or valueless for the social reproduction of settler society. The commodification of Indigenous social reproduction sustains the conditions that enable capitalism to flourish through primitive accumulation. However, we privilege Indigenous agency, resistance and resurgence in our analysis to illustrate that these techniques of commodification through accounting are not inevitable. They are resisted or wielded towards Indigenous alternatives at every point. [ABSTRACT FROM AUTHOR]

The most recent phase of services digitalisation in the global South, reflected in the widespread adoption of Internet and smart-phone technologies, has given rise to an emergent gig economy that employs tens of millions of workers across its diverse urban centres. Pre-eminent frames of analysing the global gig economy have thus far focussed significantly on issues related to platform regulation, employment relations and labour organisation. While important, these frames tend to overlook the wider informal, unwaged and self-organised foundations of gig work and labour in the global South. This article addresses the limitations of existing analytical frames by drawing upon the analysis of 55 telephonic interviews with migrant and non-migrant gig workers associated with well-known ride-hailing and home-delivery apps across two Indian cities about their experiences of the COVID-19 crisis. The article offers novel insights into the various uncertainties and challenges that gig workers in India faced during the COVID-19 national lockdown, as well as their attempts to cope with the new post-pandemic realities. Contextualising these experiences through the lens of 'digitally organised informality', the article reveals that in the absence of formal and institutionalised systems, India's gig workers rely significantly on informal socio-spatial networks of care and support that also link internal urban-rural geographies, lives and livelihoods. Conceptualising these informal networks as fundamentally contextual in understanding the development of gig labour and its social reproduction in the global South, the article however also provides a critical evaluation of their partial and contradictory nature. [ABSTRACT FROM AUTHOR]

Responding to the oft-asked question, ‘what counts as labour’s agency?’ this paper engages with recent developments in labour geography to argue that labour geographers would benefit from paying close attention to the nitty-gritty struggles over – and not only for – the contract. Taking the case of the United Farm Workers’ efforts to administer its newly-won contracts in the agribusiness fields of California in the 1970s, it suggests that labour’s agency is often not just expressed, but made to count, in the midst of the most mundane – and often tedious – of circumstances, like late night-grievance procedure meetings. The paper argues that not just labour’s agency, but its class power, is often formed and deployed – and sometimes countered – in the details of how the collective interests of workers, on the farm or across a region, and handled. [ABSTRACT FROM AUTHOR]

Qualitative research in economic geography recognizes the value of accessing business elite perspectives, yet identifying, approaching and interviewing elites present researchers with a set of challenges. Both practical and ethical, these challenges can be particularly acute for research involving ‘contentious’ firms and sectors – those facing increased societal scrutiny due to histories of labour exploitation, bribery and pollution and where there are often strong asymmetries in social power. This paper proposes a systematic approach for managing these challenges and successfully conducting interviews with business elites that we term an interview ‘campaign’. We propose the interview campaign as a strategic, organized and nimble approach designed to achieve a specific goal – an elite encounter. We show how instrumentalism and strategic ambiguity are central to the campaign, and how both can be harnessed to navigate an environment characterized by uncertainty, serendipity and structured relations of power. Our ‘campaign approach’ systematically breaks down a complex process into manageable parts without losing sight of the whole, via clear goals, strategic planning and critical reflection. The need for evidence-based research on corporate strategic action in relation to a wide range of contemporary economic phenomena suggests the campaign approach may have value across many areas of economic geography, business studies and beyond. The paper draws upon established social science literatures on elite interviewing and political campaigning, and on our own experience conducting interviews with senior executives in the oil and gas industry. [ABSTRACT FROM AUTHOR]

Recent scholarship has highlighted ‘assetization’ as an increasingly prevalent process in which valuation practices from financial economics are imposed on new aspects of society. This paper analyses the establishment of the Norwegian ‘oil fund’ – currently the world’s largest sovereign wealth fund – as the outcome of such a process. It traces the shift in the Norwegian government’s valuation arrangements from valuing oil as ‘activity’ in the 1970s towards valuing oil as a ‘national asset’ from the mid-1980s, and shows how this shift happened through close exchanges between economic expertise and governmental procedures. The paper contributes to understanding assetization as a mode of governing by showing both how it happens through governmental tools and practices and how it can have direct material consequences. In the case of Norwegian oil, the introduction of new tools of valuation made the Norwegian government manage the oil resource in a new way, and led to a re-timing of the pace of its extraction. The outcome was speeding up the conversion of oil into financial holdings, and the establishment of the ‘oil fund’ as a new infrastructure for handling oil as a national asset. [ABSTRACT FROM AUTHOR]

Local governments across Europe are increasingly engaging in ‘local government financialisation’, involving the use of bonds, derivatives and financial assets in their governance. However, the extent to which local governments use financial instruments varies across countries. Moreover, local governments engage in financialisation in the context of ‘structuring conditions’ that are largely beyond their control. This paper systematically investigates these political-economic conditions and provides a high-level comparative analysis of their relevance for financialisation in local governments. The study examines data from 22 European countries between 2000 and 2019, finding that economic, financial and institutional conditions, along with financial subordination, are critical in shaping local government financialisation. Specifically, greater decentralisation, a more developed financial sector, and, to some extent, more intense austerity are associated with higher levels of financialisation. In contrast, financialisation tends to be lower in the Southern and Eastern European peripheries. Through its country-comparative approach, the paper contributes a new perspective to recent debates on the role of the local state in financialisation. [ABSTRACT FROM AUTHOR]

This paper explores the global political economy of the relationship between energy, ground rent, and the state. In its role as the ‘nation’s landlord’, the state is widely acknowledged to have a central role in the political economy of energy, either as the enabler and guarantor for private rent extraction or by itself controlling the extraction and redistribution of rents engendered by national energy resources. This paper broadens the geographical purview of research on the landlord state by aiming attention at the rise in recent decades of the state as a major rentier in the world market. More than asserting ownership over land and its appurtenances within territorial borders, landlord states have become significant owners and profiteers of extraterritorial energy resources. Taking the historical geography of the Norwegian energy industry as an empirical point of departure, the paper explores how the landlord state that was built in the 20th century by taking public control over national energy resources since the turn of the millennium has become a considerable owner of energy resources abroad, effectively positioning itself as a major global rentier. [ABSTRACT FROM AUTHOR]

This paper engages with two important approaches theorising the co-existence and even close entanglement between the market and non-market to rethink the making of actually existing market economies. The first, that is, the diverse/community economies approach, underscores alternative relations and ethics to capitalism but often views community economies as external to market processes. A second approach on market frontiers rejects the idea of the non-market domain as a Utopian space but re-imagines it as a constituent part within capitalism, while powerful actors manage and utilise non-market differences to configure particular regimes of accumulation. However, it says relatively little about how the market/non-market divide is navigated and appropriated to suit the wellbeing of grassroots people and communities. This paper calls for a dialogue between the two approaches and argues that community economies provide important ‘background conditions of possibility’ for ordinary people to advance their needs, interests, and wellbeing by negotiating or traversing the market/non-market divide. Our empirical study investigates recent socioeconomic transformations in two villages, Lolong and Nyiru, located within the Potatso National Park, Yunnan Province, China. In both villages, local people keep alive communal norms of reciprocity and mutual support. The persistence of the non-marketised community economies is partly attributed to a state-capital coalition that outlaws grassroots participation in local tourism economy. Subsequently, villagers devise a number of tactics to penetrate the market realm and meet emerging lifestyle and consumer needs. Three of such tactics are discussed in this study. [ABSTRACT FROM AUTHOR]

Water buffaloes have a seasonal cycle of reproduction. Normally they tend to reproduce more when the daylight hours decrease. This seasonal reproduction also means that most of the buffalo calves would be born in autumn and winter in Italy where buffaloes are dairy animals, and milk production would be the highest in these seasons. However, consumer demand for the PDO (Protected designation of origin) mozzarella cheese is the highest in spring and summer. In order to deal with the imbalances between the seasonality of milk production and mozzarella consumption, and the strict regulations of the PDO cheese production, farmers and veterinarians resort to a temporal fix, and they regularly deseasonalise buffalo reproduction. However, there is an obvious discrepancy between the use of this and other fixes (cryotechnologies) generally associated with industrial agriculture, and the idea of traditional and sustainable food production. By engaging with relevant economic geography and political ecology literature, this paper investigates the temporal fixes in dairy farming and agri-food production through an in-depth empirical analysis of deseasonalisation, as a particular form of the real subsumption of nature, and cryopolitics in buffalo mozzarella cheese production in Southern Italy. The work presented in this article is based on multi-sited qualitative field research of buffalo farming and mozzarella cheese production in Campania region. This paper also has wider implications on how socio-ecological fixes shape ‘just-in-time’ animal agriculture and agri-food production. [ABSTRACT FROM AUTHOR]

Coal mining in the UK, once central to its political economy, has been in terminal decline for decades for both political and more recently environmental reasons. Against the grain of this decline, the proposal of a new metallurgical coal mine near Whitehaven (on the north west coast of England) has caused significant controversy. Those supporting the mines development say it is necessary to ‘level up’ from the previous decade of austerity, whereas opponents argue that new coal mining would severely undermine the transition to low carbon energy sources. Through a discourse analysis and open-ended interviews, this paper analyses the contestation of the mine through the environmental planning process, identifying how both the discursive contestation and decision-making practices are shaped by political logics (austerity/levelling up) and ecological logics (climate change). The paper finds that, as states turn towards greater levels of public subsidies as a new form of crisis management, the environmental decision-making processes which can determine the shape of investments have been severely undermined through a decade or more of reduced public investment, policy streamlining and a lack of public expertise. The paper argues that even though states may be turning towards policies subsidising energy projects, they are doing so in a context where there is a lack of state capacity due to a ‘political ecology of austerity’, limiting public capacity to plan for a better future. [ABSTRACT FROM AUTHOR]

Social impact investors claim to promote sustainable development by mobilizing private finance capital to solve pressing global challenges like poverty alleviation. In this paper, I interrogate this claim through an examination of microfinance in Cambodia, a major destination for impact investment. In the past decade, Cambodia has received nearly 10% of global investments from microfinance-specific funds. It now has the largest microfinance-debt per capita ratio of any country in the world. Based on qualitative research between 2021 and 2023, I argue that impact investment functions as an anti-politics of development that reinforces finance as a political technology of neoliberal governance. Over the past two decades, impact investors have poured capital into the country’s microfinance industry to expand access to credit without acknowledging structural political-economic conditions that have produced rising over-indebtedness among microfinance borrowers. Instead, they have argued that the problems created by the microfinance industry are best resolved through a self-regulation model that uses a voluntary code of conduct based on global standards of responsible finance. Thus, impact investors have been integral in broader transformations that have extended financial logics, technologies and accumulation imperatives into people’s daily lives. This paper contributes to economic geography and critical development studies by explaining how impact investment deepens neoliberal financialization. [ABSTRACT FROM AUTHOR]

Financialised capitalism’s proclivity for assets helps explain growing investment into new housing asset-classes, including co-living, Build-to-Rent and Purpose-Built Student Housing. To date, research has focused on institutional and financial settings driving the assetisation of property. Less common is research into the microgeographies of assetisation. In this paper, we contribute to research on the microgeographies of assetisation by examining how households and their inhabitants are actively reworked within co-living housing. Our analysis identifies how households are rendered more investable and profitable, demonstrating how assetisation processes can exceed the bounds of real estate property as an arena of value. Assetisation is intimately navigated in microgeographic sites, with implications for residents’ housing security and domestic experiences. Our analysis draws on research conducted between 2016 and 2022 that charted the emergence, maturation and transformation of the co-living sector in New York City, San Francisco and Australia. The paper identifies the three key practices through which co-living providers realise value from households and residents: (1) Running an asset-light business model, allowing profit from property outside the risks of ownership. (2) Rescripting residents as subscribed members rather than legal tenants. (3) Curating household forms, delivering experiences through hospitality-like services and capitalising on the residents as community members to generate maximum profit. This work supports economic and housing geographers to go beyond conceptualisations of financialisation as a ‘monolithic and inevitable process’, shining a light on microgeographic sites, actors and practices holding up wider financial ideologies. [ABSTRACT FROM AUTHOR]