Opolis

Capital accumulation is the driving force of urban economic development. Many contemporary urban problems—including rapid land price inflation, greater socio-spatial inequalities, and the stresses of middle-ring suburbs—are traceable to the forms that the accumulation process is taking. Changes in the relationships between industrial capital, financial capital, and property capital underpin these stresses. Changing consumption patterns and the impact of neoliberal economic policies also are accelerating urban economic restructuring. This article reflects on the challenges generated by these structural and spatial changes, drawing on Australian examples.