Cities are the concentration of capital around dense networks of trade. In very simple terms, the more frequent the transactions, the taller the buildings. All transactions take place in physical space: digital trade will involve a customer, a supplier and many interactions in between, all with a physical presence somewhere. “Cyberspace” is less ether, more a warehouse on motorway junction. So alien is the concept to human minds and so rapidly has the digital economy swamped our capacity to understand it, we would rather imagine Keanu Reaves hopping across grids of blue light.
Urban density is a visible manifestation of capital. It diminishes until it becomes peri-urban greenbelt, dog kennels, horse riding schools and sports clubs before the profits from agriculture are sufficient to justify its retention as farmland.
Capital in the 21st century loves shiny buildings, its medieval hilltop fortresses or monasteries. Outside the edges, are the modern equivalent of the hovels of those eking out a living from the scraps – remember the monastery in the 1986 film of The Name of the Rose. It is a concrete, glass and steel pyramid of the debt that has given us the illusion of rising living standards: capitalists in the penthouses, owning the debt of the desperate edge dwellers eager to get inside the gates far below.
This is a typical sight in a typical city: the fortress where capital is concentrated and its edge, beyond which lies dereliction: holes left fallow waiting until the potential rewards are great enough and secure enough to de-risk investment and redevelop it. Meanwhile, the inhabitants of these edge spaces politely wait and suffer the social consequences, unaware of the parasitic nature of the debt that created the hole, and welcome its redevelopment with yet more exclusionary uses that feed their misery: more consumption and regressive sales taxes using borrowed money, the promotion of luxury and individualism, the slave-ships of offices for “knowledge workers”.