Trajectories, vectors and change: mapping late neoliberal assemblage

Research output: Chapter in Book/Report/Conference proceedingChapter (peer-reviewed)

Abstract

At the time of writing, a decade has passed since the rising level of defaults on mortgages in the United States precipitated a liquidity crisis in international investment markets, threatening the existence of several major global banks. The reduced levels of capital investment that followed produced a major global recession. The debts of many nations grew rapidly due to expanding structural deficits and the provision of liquidity to banks. Concerns grew about some governments’ ability to service national debts, particularly within Europe. Iceland’s banking system collapsed in 2008 and its government fell in 2009. Greece, Ireland, Portugal, Spain and Cyprus all required support from international and supranational institutions to remain solvent. In the UK, public policy-making since the crash has, according to official accounts, been based on an ‘austerity’ strategy of tightening fiscal expenditure on public services as a means of reducing structural deficits. The administrations of cities, which run many public services, have been forced to reduce levels of provision in the face of rising demand. The intensification of social and economic antagonisms of class, race, gender, sexuality, generation and region have produced significant political volatility in formal political processes and on the streets.

Details

Original languageEnglish
Title of host publicationDisassembled Cities
Subtitle of host publicationSocial and Spatial Strategies to Reassemble Communities
EditorsElizabeth L. Sweet
Publication statusPublished - 11 Dec 2018

Publication series

NameGlobal Urban Studies
PublisherRoutledge