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World cities under conditions of financialized globalization: towards an augmented world city hypothesis
journal contribution
posted on 2019-03-04, 14:20 authored by David Bassens, Michiel Van MeeterenThis paper interrogates the enduring yet changing role of world cities as centers of capitalist ‘command and control’ amidst deepening uneven development. By incorporating financialization processes in Friedmann’s (1986) world city hypothesis, we hypothesize that the world city archipelago remains an obligatory passage point for the relatively assured realization of capital. The advanced producer services complex appropriates superprofits as producers of co-constitutive knowledge on operational and financial firm restructuring, the creation of new circuits of value, and capital switching. Geographically, beyond the international financial center shortlist, the wider world city archipelago inserts finance capital (logics) in contemporary economies and societies.
History
School
- Social Sciences
Department
- Geography and Environment
Published in
Progress in Human GeographyVolume
39Issue
6Pages
752 - 775Citation
BASSENS, D. and VAN MEETEREN, M., 2014. World cities under conditions of financialized globalization: towards an augmented world city hypothesis. Progress in Human Geography, 39 (6), pp.752-775.Publisher
SAGE Publications © The AuthorsVersion
- AM (Accepted Manuscript)
Publisher statement
This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/Publication date
2014Notes
This paper was published in the journal Progress in Human Geography and the definitive published version is available at https://doi.org/10.1177/0309132514558441.ISSN
0309-1325eISSN
1477-0288Publisher version
Language
- en