Dispossession by financialization: the end(s) of rurality in the making of a speculative land market

Abstract

This article elaborates upon the concept of speculative urbanism and the theory of accumulation by dispossession by delving into the recent history of the transformation of Bengaluru (formerly Bangalore) India into a global city. It explains how the conversion of rural land into urban real estate for ‘global-city’ projects triggered distinct forms of dispossession and financialization. The shifting practices of global finance capital along with its national and local partners have created the conditions for widespread dispossession of rural producers and the financialization of the regional economy, a phenomenon identified here as ‘dispossession by financialization’.

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