Lecture 2: The Global City: Readings/Arguments ( Sassen, 1991 states that…
Lecture 2: The Global City: Readings/Arguments
The Modern World System
where the world is a social system designed in a hierarchy of either core, semi-periphery or periphery. Core cities worked in a particular mode of operation that keeps them remaining at the 'core' e.g. homing in banks and the likes of the World Bank.
argued with hyper-globalisation that it is cities not nations that are the focus of capitalistic growth. Known as the
said that global cities 'serve as international centres for business decision making and corporate strategy formulation'
states that New York, London and Tokyo are the only major global cities in the world because of the type of business they inhibit. It is a hub for APS firms where legal, financial, insurance and advertising industries dominate.
They do not manufacture or create, but they provide services and thrive off being clustered together. They start to control where labour and productions goes. E.g. open mines in Chile are not decided in Chile but in New York.
Thus creating a hierarchal system where the global cities are the primary regions of the world who are liable for many economic decisions. Sassen states that global cities are the
command and control centres
of the economy.
However these hubs are often extremely local. When we talk about London as a (financial) global city, we only talk about Canary Wharf as industries are clustered for collaboration and competition
However also important to not focus on global cities just financially. Social dimensions are important.
Global cities are home to
where there is an influx of global capital and wealth mirrored by a need for low-paid service industry workers such as bin men, who are still important for the functioning of the city.
Mallenkopf and Castells, 1991
call this a
disagrees. States that such cities are becoming
. The number of professional and managerial workers are steadily rising
There are also strong welfare systems in the likes of Scandinavian countries where there is less poverty.
Political Systems also interject into the 'globality' of global cities
Cities such as Canberra and Washington DC are capitals but not global cities. This is so they can focus on politics and allow for New York and Sydney being financial capitals.
However cities such as London arguably have an advantage over as they home both powers. So we ask does political power help or hinder the growth of the global city?
saw deregulation of financial markets and banks which were politically motivated legislations that positively influenced the growth of cities like London when Thatcher deregulated the banks.
Cultural factors are also important.
argues that Global cities are not only concentrations of global capital but global culture
London is home to over 300 languages, the most.