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Housing Capital in the 21st Century: Interpreting Implications of the Piketty Thesis
WHEN: 2nd MAY 2016, 12 NOON - 1:00pm
WHERE: LEVEL 4, MEETING ROOM 4035, BIULT ENVIRONMENT FACULTY, RED CENTRE WEST WING, UNSW KENSINGTON
Thomas Piketty’s ‘Capital in the 21st Century’ restored broad interest in political economy, highlighted growing wealth inequalities in the advanced economies and related them to models and patterns of economic growth. In numerous countries rising real house prices and shifting distributions of housing wealth drove much of the change he recorded and analysed. Yet housing research and housing policy have yet to make much use of Piketty’s perspective. This seminar highlights the housing role in Piketty’s analysis, how housing research can strengthen his analytical foundations and how his emphasis on productivity and inequality can shape a new framework for housing policies in the advanced economies. Rising real house prices need to be the focus of housing policies and housing market analysis rather than the narrow agenda of homelessness and very low income programs. These issues and policies matter but core system outcomes are too long neglected.
Duncan Maclennan is Professor of Public Policy at the University of Glasgow and Professor of Strategic Urban management at the University of St Andrews. He is an applied economist specialising in housing, neighbourhoods and cities. At the University of Glasgow in the 1980s he established and led the Centre for Housing and Urban Research and in the 1990s directed the ESRC Cities and Competitiveness Program and JRF programs on Housing Finance, Housing and the Macro-Economy and housing and Area Regeneration. From 1999 he spent a decade working in government, as special Adviser to the First Minister of Scotland, as a Chief economist in the Government of Victoria and as Chief Economist in Canada’s Federal Department for Infrastructure and Cities. He has acted as adviser to Ministers in the UK, Scotland, France, Poland and Norway, Canada, Australia and New Zealand. He is a fellow of the Royal Society of Edinburgh, the Academy of Social Sciences and the Royal Town