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Book Details
Abstract
Neoclassical economics, the intellectual bedrock of modern capitalism, faces growing criticisms, as many of its key assumptions and policy prescriptions are systematically challenged. Yet, there remains one field of economics where these limitations continue virtually unchallenged: the study of cities and regions in built-environment economics.
In this book, Franklin Obeng-Odoom draws on institutional, Georgist and Marxist economics to clearly but comprehensively show what the key issues are today in thinking about urban economics. In doing so, he demonstrates the widespread tensions and contradictions in the status quo, showing how to reconstruct urban economics in order to create a more just society and environment.
'Reconstructing Urban Economics is a most welcome addition to the canon of progressive urban scholarship and Obeng-Odoom is its well qualified author.'
Journal of Australian Political Economy
‘Obeng-Odoom throws down the gauntlet by challenging the dominant voices in urban economics who assure us that a market equilibrium will bring about a happy result for everyone. Without any of the sound and fury of a self-proclaimed prophet, Obeng-Odoom quietly shows us that African thought has the potential to begin to heal the rifts in Eurocentric thought, rifts that continue to cause great suffering in the world.’
Clifford Cobb, editor of the American Journal of Economics and Sociology
‘This powerful and timely new book challenges the prevailing orthodoxy within urban studies. It blends diverse theories, international experience and a global viewpoint. Students of
urban economics, real estate and planning will find it a refreshing alternative to the standard texts.’
Frank Stilwell, University of Sydney
‘This book presents an alternative map of urban economics. Obeng-Odoom's command of the facts, eye for absurdity, and appreciation of the balance between heterodox and orthodox slants makes his book the most authoritative, educative and inspiring text on the subject. Anyone interested in political economy, development and the built environment will treasure this book.'
Paul Alagidede, University of the Witwatersrand
‘A lively and up-to-date introduction to urban economics, which will encourage readers to think outside-the-box on a topic which is too important for our collective future to be left to urban specialists alone.’
Charles Gore, author of Regions in Question
‘A major contribution to the urban economics of the built environment and a thoughtful counterbalance to mainstream neoclassical and neoliberal framing of urban systems.’
Richard Grant, University of Miami
‘A welcome addition to the existing literature on urban and
property economics. I would recommend this book to both students and seasoned scholars of urban and land economy and urban development more generally.’
Ramin Keivani, Oxford Brookes University
'Obeng-Odoom joins a long list of thoughtful analysts and social reformers ... who have sought to keep the proposals of Henry George in the public dialogue.'
Land and Liberty
'The book reminds us that issues of the urban question around spatial
inequality in terms of housing, transport, jobs or other metrics, are issues
that have historical precedents, are trans-national and trans-cultural … So
when politicians, think-tanks, industry peak bodies, or universities offer
simple solutions that promote the status quo, books like this one help us to
articulate our rebuttals.'
Australian Universities’ Review
'[The] book has substantial merit. It provides a useful set of counter-arguments to the received wisdom on urban economics and the built environment. As such, it has the potential to broaden theoretical and practical perspectives on a topic where quite narrow views often predominate.'
Economic Record
'An invaluable compendium of information for anyone wishing to become acquainted with the most recent and most important publications on urban economics.'Good Government
'Obeng-Odoom’s attempt to challenge the dominant perspective in urban economics deserves praise and recognition ... highly recommended reading for students and researchers of urban studies.'
Urbani Izziv
'Recommended for readers who seek a heterodox perspective on urban economics.'
Choice
Franklin Obeng-Odoom teaches urban economics at the School of Built Environment, University of Technology Sydney (UTS) in Australia. He is an International Social Science Council world social science fellow in sustainable urbanisation. Franklin was elected to the Fellowship of the Ghana Academy of Arts and Sciences in 2015, becoming the country’s youngest fellow. In 2016, he won the Patrick Welch prize awarded by the Association for Social Economics and his book Reconstructing Urban Economics was listed in the top 5 entries for the Egon Matzner Prize 2017.
Table of Contents
Section Title | Page | Action | Price |
---|---|---|---|
Cover | Cover | ||
About the author | i | ||
Title page | iii | ||
Copyright | iv | ||
Contents | v | ||
Figures and Tables | vi | ||
Preface | vii | ||
Dedication | x | ||
Introduction: dissent and reconstruction | 1 | ||
Introduction | 1 | ||
Aims of the book | 4 | ||
Structure and roadmap of the book | 7 | ||
Part One. Establishing principles for urban progress | 13 | ||
1. Scaffolding the principles and values of reconstruction | 15 | ||
Introduction | 15 | ||
The built environment and urban economics | 16 | ||
Institutional political economy | 21 | ||
General guiding framework for the rest of the book | 32 | ||
Conclusion | 35 | ||
2. The urban challenge | 36 | ||
Introduction | 36 | ||
Formation of cities | 40 | ||
Institutionalist, Marxist, and Georgist assessments of urban growth and urban systems | 47 | ||
Conclusion | 53 | ||
3. The urban economy | 55 | ||
Introduction | 55 | ||
Economic base/basic, non-basic | 56 | ||
A neoclassical urban economic anatomy and spatial microeconomics | 62 | ||
A Marxist urban economics approach | 67 | ||
The framing of the urban economy used for this book | 71 | ||
Conclusion | 79 | ||
Part Two. Analysing material conditions in cities | 81 | ||
4. Urban economic growth: globalisation, trade, and convergence | 83 | ||
Introduction | 83 | ||
The spatial economy: cities, international trade, and globalisation | 85 | ||
Institutions, globalisation, and cities | 93 | ||
Urban economic growth, distribution, and employment | 99 | ||
Conclusion | 105 | ||
5. Informal economies | 107 | ||
Introduction | 107 | ||
Informal economy: the concept | 109 | ||
Work experiences in informal economies | 114 | ||
The causes of the informal economy: dualism, legalism, or structuralism? | 117 | ||
The real informal economies | 121 | ||
Moving forward: the state, revolution, consensus, or challenge? | 124 | ||
Conclusion | 133 | ||
6. Urban poverty; socio-spatial inequality | 134 | ||
Introduction | 134 | ||
Mainstream ‘theories’ about the causes of urban poverty | 136 | ||
Growth that is neither employment-generating nor poverty-reducing | 141 | ||
Symptoms of poverty; culture of poverty | 143 | ||
Socio-spatial inequality and land economy | 144 | ||
Institutions of capitalism | 152 | ||
Routes less travelled | 154 | ||
Conclusion | 157 | ||
Part Three. Creating a socio-ecologically sensitive future | 159 | ||
7. Housing | 161 | ||
Introduction | 161 | ||
Demand-side and supply-side reformist policies | 167 | ||
(Mis)conceptualisations and limitations of demand and supply-side housing policies | 172 | ||
The right to adequate housing | 179 | ||
Conclusion | 182 | ||
8. Homo automobilus | 184 | ||
(Re)conceptualising housing: housing markets and housing systems | 164 | ||
Introduction | 184 | ||
The case for automobility | 186 | ||
Questioning automobility | 191 | ||
On the road to change: post automobility? | 195 | ||
Conclusion | 199 | ||
9. Sustainable urban development | 201 | ||
Introduction | 201 | ||
Sustainable development: a review of the dominant views | 203 | ||
Political economic perspectives | 207 | ||
Georgism: systemic redistribution and comprehensive socio-ecological spending | 220 | ||
Conclusion | 226 | ||
Conclusion: towards a political economy of the built environment | 228 | ||
Managing the city economy: towards the good city | 232 | ||
References | 237 | ||
Index | 274 |