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World cities under conditions of financialized globalization: towards an augmented world city hypothesis

(2015) PROGRESS IN HUMAN GEOGRAPHY. 39(6). p.752-775
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Abstract
This 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.
Keywords
advanced producer services, financial crisis, financialization, international financial centers, world cities, overaccumulation, GLOBAL PRODUCTION NETWORKS, EMERGING MARKETS, CONTEMPORARY GLOBALIZATION, SHAREHOLDER VALUE, FINANCE INDUSTRY, CAPITAL-MARKET, LAW FIRMS, GEOGRAPHIES, CRISIS, KNOWLEDGE

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Citation

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Chicago
Bassens, David, and Michiel van Meeteren. 2015. “World Cities Under Conditions of Financialized Globalization: Towards an Augmented World City Hypothesis.” Progress in Human Geography 39 (6): 752–775.
APA
Bassens, D., & van Meeteren, M. (2015). World cities under conditions of financialized globalization: towards an augmented world city hypothesis. PROGRESS IN HUMAN GEOGRAPHY, 39(6), 752–775.
Vancouver
1.
Bassens D, van Meeteren M. World cities under conditions of financialized globalization: towards an augmented world city hypothesis. PROGRESS IN HUMAN GEOGRAPHY. 2015;39(6):752–75.
MLA
Bassens, David, and Michiel van Meeteren. “World Cities Under Conditions of Financialized Globalization: Towards an Augmented World City Hypothesis.” PROGRESS IN HUMAN GEOGRAPHY 39.6 (2015): 752–775. Print.
@article{5782172,
  abstract     = {This paper interrogates the enduring yet changing role of world cities as centers of capitalist {\textquoteleft}command and control{\textquoteright} amidst deepening uneven development. By incorporating financialization processes in Friedmann{\textquoteright}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.},
  author       = {Bassens, David and van Meeteren, Michiel},
  issn         = {0309-1325},
  journal      = {PROGRESS IN HUMAN GEOGRAPHY},
  language     = {eng},
  number       = {6},
  pages        = {752--775},
  title        = {World cities under conditions of financialized globalization: towards an augmented world city hypothesis},
  url          = {http://dx.doi.org/10.1177/0309132514558441},
  volume       = {39},
  year         = {2015},
}

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