Residential Capitalism

Name: Residential Capitalism | Rent Extraction and Capitalist Production in Modern Spain (1833-2023)
Brand: Routledge
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Rent Extraction and Capitalist Production in Modern Spain (1833-2023)

Javier Moreno Zacares(Autor*in)

Routledge (Verlag)

1. Auflage

Erschienen am 23. April 2024

250 Seiten

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Beschreibung

Over the last decade, Spain has become an emblem of the contradictory relationship between capitalism and housing. During the house-price boom of the 2000s, Spain built homes on an unprecedented scale, with output levels that overshadowed those of every major European economy. Nevertheless, when the fortunes of real estate markets turned, a wave of repossessions ensued, and a massive number of households were thrown out into the street as a sizeable portion of the housing stock was lying vacant. In turn, the implosion of Spanish residential capitalism triggered an intense wave of unrest that has come to shape a decade of political turmoil.

This book uses the Spanish case to bring to light, and theorise, the workings of residential capitalism. The author traces the evolution of residential provision from the nineteenth century to the present, situating the transformation of the housing market in a context of ongoing social change and conflict. The book shows how the present needs to be understood by looking at the historical process through which residential provision became subsumed under the logic of capitalist accumulation but also at a long genealogy of struggles around urbanisation and housing, the outcomes of which remain crystallised in Spain's urban institutions. The author reveals how both residential capitalist development and urban social conflict have constituted each another, casting light on the historical relationship between housing crises, urban unrest, and the evolution of real estate markets. The book develops a historicist framework to understand residential capitalism, an important contribution for an age in which real estate markets have come to determine the rhythms of global capital.

Addressing key issues and debates in the field, including the financialisation of housing, the politics of scale and urban entrepreneurialism, the political economy of the Eurozone, and the history of capitalist development, this book will be of great interest to students and scholars of political economy, as well as those engaged in crossover fields such as housing studies, urban geography, or financial geography.

Rezensionen / Stimmen

"This book is an incredibly impressive achievement and contribution, one of the very best yet written on the centrality of housing - how it is mythologized, developed, financed, traded, inhabited, and sometimes lost - to capitalist society, past and present. Moreno Zacares's historical canvas is Spain, and what a remarkable history it is! But the insights and lessons are universal."

Brett Christophers, Uppsala University, Sweden

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Inhalt

PART I: Housing Under Capitalism

1 Residential Capitalism: A Theoretical Introduction

Housing's Paradoxes

Capitalists and Rentiers

Hybrid Logics

What Is (Residential) Capitalism?

A Pre-History of Residential Capitalism

Mass Urbanisation

Capitalist Residential Production

Governing Residential Capitalism

Capital, Hegemony, and the State

Historicising Residential Strategies

Outline of the Book

2 Residential Accumulation in Capitalist Political Economies

Residential Accumulation: Between Rent Extraction and Capitalist Production

The Hybridity of Housing Provision

House Rents in the Capitalist Economy

Residential Social-Property Relations: Analysing Capitalist Housing Provision

Production

Exchange

Finance

Reproduction

PART II: The Liberal Era, 1833-1939

3 Liberal Property and Its Discontents

The Formation of the Liberal State

Framing the Liberal Revolution

Imperial Decline

The Liberal City in an Uneven Capitalist Transition

A Pre-Capitalist Agriculture

Capitalist Production and Mass Urbanisation

The Urban Household

Pacifying the Urban Masses

Spatial Politics of the Liberal Oligarchy

Competing State Projects

Morbid Symptoms

4 The Contradictions of the Liberal City

The Construction of the Liberal City

The Creation of Absolute Private Property

The Rise of the Market-Dependent Rentier

The Capitalist Transition in the Building Trades

Repairing the Liberal City

Faulty Extensions: The Ensanches

Structural Failure: The Underdevelopment of Property Development

Foundational Problems: Towards a Social Liberalism

The Collapse of the Liberal City

The False Promise of Liberal Property

The Unravelling

PART III: Franco's Dictatorship, 1939-75

5 The Reconstruction of Urban Modernity

Political Anatomy of the Francoist State

The Roots of the Counter-Revolution

Bureaucratic Factionalism in the National Movement

Catch-Up Development and Accelerated Urbanisation

Post-War Autarky

Geopolitical Realignment and Technocratic Turn

The 'Spanish Economic Miracle'

Catholic Domestication

Domination and Unrest in the Francoist City

The Limits to Urban Hegemony

Death and Resurrection of Urban Unrest

6 The Property-Owning Autocracy

Falangist Designs

Orchestrate the City

Nurture the Developer

Euthanise the Landlord

Urbanise the Smallholder

Developmentalist Consolidation

Turf War in the Bureaucracy

An Urban State of Exception

The Professionalisation of the Capitalist Developer

Democratic Horizons

The Working Class Goes to Heaven?

Democracy Against Residential Capitalism

PART IV: The 'Regime of 1978', 1975-2023

7 Neoliberalism and the Asset-Price Economy

Foundations of the New Liberal State

The Constitutional Settlement

The State of Autonomies

Neoliberal Democracy: A Second Restoration?

Neoliberal Restructuring and Asset-Price Speculation

The Onset of Neoliberalism

Experimenting With Financialisation

The Road to the Great Recession

Urbanisation in a Rentierised Economy

The Rise of Urban Entrepreneurialism

The Party-Developer Nexus

The Crisis of Neoliberal Hegemony

European 'Modernisation' and the Petit Rentier

Housing Crash and Hegemonic Breakdown

The Crisis of the Constitutional Settlement

8 The Democratisation of Rentierism

Neoliberalising Housing Provision

Supporting the Homebuyer

The Liberalisation of Mortgage Finance

New Extremes in Capitalist Building

Rent and Residence in the Era of Mass Speculation

Climbing Up the Property Ladder

The Primacy of the Developer

'House Prices Never Go Down'

Crisis and Recomposition of Residential Capitalism

Lineages of the New Urban Activism

The Repoliticisation of Residential Capitalism

Rise and Fall of the New Municipalism

The Revenge of the Landlord

Towards a New Moral Economy?

Concluding Remarks

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