Financialization of Housing in Brazil: New Frontiers

The financialization of housing has been increasingly identified as an important driver of social and economic change in contemporary capitalism. Focusing on the Brazilian context, this article considers the extent to which recent changes in housing regulations, policies and markets confirm or challenge narratives about the financialization of housing in the international academic debate. I argue that while many of the trends stressed in the literature are apparent, more extreme processes of financialization within the Brazilian housing sector remain limited––not only because of institutional and regulatory constraints, path dependence or political resistance, but also because of fundamental structural conditions of Brazil's position as a peripheral economy. Three different but mutually reinforcing processes are scrutinized in order to evaluate the financialization of housing and its limits in Brazil: the re‐regulation of the real estate financial sector initiated in the 1990s; the changing funding patterns among real estate companies since the mid‐2000s; and the increasing commodification of housing induced by a large‐scale and heavily subsidized housing program launched in 2009.     

Subterranean Commodification: Informal Housing and the Legalization of Basement Suites in Vancouver from 1928 to 2009

This article draws on Margaret Radin's theorization of ‘contested commodities' to explore the process whereby informal housing becomes formalized while also being shaped by legal regulation. In seeking to move once‐informal housing into the domain of official legality, cities can seldom rely on a simple legal framework of private‐law principles of property and contract. Instead, they face complex trade‐offs between providing basic needs and affordability and meeting public‐law norms around living standards, traditional neighbourhood feel and the environment. This article highlights these issues through an examination of the uneven process of legal formalization of basement apartments in Vancouver, Canada. We chose a lengthy period—from 1928 to 2009—to explore how basement apartments became a vital source of housing often at odds with city planning that has long favoured a low‐density residential built form. We suggest that Radin's theoretical account makes it possible to link legalization and official market construction with two questions: whether to permit commodification and how to permit commodification. Real‐world commodification processes—including legal sanction—reflect hybridization, pragmatic decision making and regulatory compromise. The resolution of questions concerning how to legalize commodification are also intertwined with processes of market expansion.     

The role of tourism in the conservation of cultural heritage in Kenya

Due to the declining fortunes in agriculture, mining and manufacturing sectors, many developing countries have turned to tourism as a panacea to the numerous economic problems facing them. However, emphasis in Kenya has been mainly on beach and wildlife tourism, to the total exclusion of cultural tourism.

This paper discusses critically the contribution of international tourism in the conservation of cultural heritage in Kenya. The cultural impacts of international tourism are found to be both positive and negative and much more pronounced at the coast and in Maasailand.

Doxey's irritation index (irridex) is used as the main theoretical framework in the paper. Although Doxey suggests that in the last stage of tourism development the local communities are likely to be antagonistic to the tourists, in the case of the Maasai, the relation between them and the tourists has been rather harmonious. This could be so because the local community is actively involved in tourism development and derives benefits from the industry. The issues discussed in the paper are relevant to other parts of the world including Asia Pacific region. The paper concludes by emphasizing the need for proper visitor management through planning to minimize negative cultural impacts on local communities.     

Why Markets in Proto-Deceptive Goods Should Be Restricted

In recent years there has been much philosophical discussion over the question of whether the prohibitions on markets in such items as human body parts and gene sequences, and services such as human reproductive labor and sex, should be lifted. Yet despite the attention paid to this issue there are been surprisingly little discussion of the question of whether markets in certain items that are currently freely traded should be restricted or eliminated. In particular, there has been little discussion of the question of whether markets in items that could be readily used to deceive people should be restricted. I argue in this paper that one of the central moral values of the contemporary West – respect for personal autonomy – requires that such markets be restricted.     

New Geographies of Residential Capitalism: Financialization of the Turkish Housing Market Since the Early 2000s

The post‐2001 financial crisis era in Turkey gave rise to twin booms in housing construction and credit markets, both of which suffered from the subsequent debt crisis. The financial transformation of the economy in conjunction with state‐led urban legislation reform had significant effects on the housing market in terms of commodification of housing, countrywide construction activities and substantial increases in household debt and construction company loans. The changing role and function of the state as a direct provider of housing can be regarded as actually existing neoliberalism providing favourable conditions for financialization, as it ushered in the commodification of housing. The Turkish government, together with the government‐backed housing agency, metropolitan municipalities and publicly owned real‐estate investment company, has been active in nationwide housing construction and urban regeneration projects. This article argues that there is a lack of synchrony between the commodification of housing and the financialization of the household sector owing to the institutional setting of the mortgage system and structural macroeconomic problems. Rather, housing commodification has been accompanied by the financialization of the corporate sector through a steep rise in the external debt burden of construction companies.     

Was the Green Revolution intended to maximise food production?

The evidence on yields, food-production, food-calories per capita, and declining levels of malnutrition in countries experiencing a Green Revolution are commonly cited in support of the claim that the GR sought to maximise food production. If one looks closely at the actual design of GR programmes (in India and elsewhere), however, it is clear that they were instead intended to boost yields and profitability in a small number of targeted areas. The underlying rationale for targeting was that achieving very high yields in such regions would persuade farmers to abandon subsistence farming in favour of commercial production, relying upon the market for the purchase of inputs as well as the sale of produce. In response to widespread criticism of the Green Revolution ca. 1970 for neglecting the needs of peasant farmers (as well as accentuating rural unrest), the World Bank and other donors began to direct more attention and resources to smallholders, but the aim of commercialising farming remained unchanged.     

Creative tourism in Balinese rural communities

The present study extends knowledge on creative tourism in rural areas. It was unclear from previous research how features of creative tourism, such as risk of commodification, play out in rural areas of developing countries. The study built on theoretical overlaps which suggest that creative tourism may improve the potential of community-based tourism. Literature suggested that creative tourism may address three issues plaguing community-based tourism: (1) lack of financial resources could be circumvented with intangible heritage; (2) loss of cultural identity could be reversed by sparking interest for culture; (3) power relations between hosts and guests could be rebalanced by repositioning locals from servant to teacher. These theoretical overlaps were explored in the context of five Balinese villages using a microethnographic approach with participant observations and expert interviews. Findings from this study partly confirm and extend the theoretical synergies. Furthermore, a new synergy, increasing enthusiasm for intercultural exchange, and one negative interaction, intangibility as a differentiator, were found. Findings also revealed conditions for success in developing creative tourism in a community-based tourism context. In sum, we contribute the conclusion that creative tourism in rural areas is promising under certain conditions.     

旅游地空间商品化的形式与影响研究--以云南省丽江古城为例

20世纪70年代法国学者亨利·勒菲弗尔(Henri Lefebvre)提出"空间生产理论",认为空间是在人类主体的有意识活动中被不断生产出来的.如果以勒菲弗尔(Lefebvre)空间生产概念为分析工具,旅游地空间也是在发展旅游业、刺激民众消费、获取经济效益等社会背景下被创造、生产出来的.人们以符号的制造与运用赋予地方价值,再把地方意象赋予实质可消费物品,提高商品的交换价值.旅游生产系统通过销售"地方",获取多重服务与消费之后的利润;游客则借由消费内含了丰富地方意象的物质商品和服务而消费地方.文章以社会学和旅游研究中的分析概念为工具,以丽江古城为案例,尝试分析在具有自然或文化特性的旅游地,地方符号被应用于商品消费的具体方式,以及具公共性的观光空间,如何被纳入到私人商品消费的范畴,并由此探究旅游地空间商品化的过程以及空间商品化对当地社会文化的影响,希望对今天的地方旅游规划和文化保护工作有所帮助.