News / Article

How to Stop Gentrification

Source: - Aug 11, 2017

In September 2005, the New Orleans real-estate developer Finis Shelnutt told a German newspaper of the opportunities Hurricane Katrina had created for his business. “The storm destroyed a great deal,” he said, just weeks after Katrina had killed more than one thousand people and expelled tens of thousands more from the city. “And there’s plenty of space to build houses and sell them for a lot of money.” Moreover, he added, “the hurricane drove poor people and criminals out of the city, and we hope they don’t come back.”
Most Popular

Keep the Trump Leaks Coming
Al Gore’s Carbon Footprint Doesn’t Matter
The Left’s Misguided Debate Over Kamala Harris
Are the Democratic Socialists of America For Real?
This Is Not a North Korean Crisis. It’s a Trump Crisis.

Shelnutt’s uniquely forthright comments distilled the essence of gentrification, as Peter Moskowitz explains it in How to Kill a City: Gentrification, Inequality, and the Fight for the Neighborhood. Gentrification, in this account, is not just about twenty-something white dudes with beards riding their fixed-gear bikes into unfamiliar neighborhoods, nor filament-bulb-lit craft beer bars opening up alongside bodegas. It is not really a cultural phenomenon, as it is so often depicted, nor one driven by individuals with a little more disposable income than their new neighbors. It is about profit and power, racism and violence on a massive scale. It is, in Moskowitz’s words, “the urban form of a new kind of capitalism.”


Category: General Business