Geography of wealth creation

I think the timing of the lecture on geography of wealth creation was perfect right after my arrival back from New York! What a place...what an energy...what an incredible amount of wealth created on urban land!

I didn't cover the whole chapter not because I was terribly jet lagged but because I wanted you to concentrate on cities not only as generators of wealth but also as places where wealth is redistributed via diverse channels including property markets. I introduced the entrepreneurial city concept and mentioned how city marketing plays a role in capturing global capital flows. Property-led urban development has been the final point on which we had an extended discussion (thanks to the research team 1).

I think, if you are interested in urban geography, you should really begin to understand the roles of diverse actors in shaping cities. Dynamics of capital accumulation and urban governance mechanisms are very much related to each other as I briefly summarised in the lecture. Increasing involvement and influence of private sector actors in decision-making mechanisms leads to fragmented developments in the city, and increasing segmentation of the urban society.

We have discussed the role of public private partnerships within the framework of property-led urban development. Some of you have heard about them but were not really aware of what are they there for and how do they work. I find it extremely useful that we go through concepts like that and soon enough the pieces will begin to get together to make a whole picture for you. Having all these in mind and browsing through internet have a look what I've found in this website:

http://www.newcitiesfoundation.org

Members of this Foundation, most of which are large scale for-profit organizations, state that '...building more sustainable and dynamic urban communities can only be done through innovative partnership'. And this is exactly what I've been talking about within the framework of the entrepreneurial cities! See it happening...

See you on Monday at 08:45 (without a jet lag hopefully). I look forward to go down to the main principles of geography: location, location, location!

Have a great weekend !

Dr. Tuna Tasan-Kok