Question

The Risk and Management of Gentrification and Displacement

T‌‍‍‌‌‍‌‌‌‌‌‍‍‍‌‌‌‌‍his is my final for my economics class and he is very strict with plagiarism. I will attach the prompt but be very thorough in this paper, he is a really hard grader. Thank you s much! Prompt: Choosing the topic of Gentrification and displacement, research in depth an “intervention” (i.e. something a government or private individual/firm could “do”) to discuss at a hypothetical City Council Meeting. For ease of reading, it is recommended (but not required) to structure your report as follows:

 i. Descriptive summary of the issue

a. Economic theory behind the issue (using supply/demand, user costs o‌‍‍‌‌‍‌‌‌‌‌‍‍‍‌‌‌‌‍f capital, or bid- rent theory)

b. Arguments for and against (and in-between if relevant) ii. Proposed intervention

iii. Critical thoughts on the proposed intervention (resulting from in-depth research)

a. Is it supported by the economic theory described above? If so, how? If not, how not?

b. Can you think of, or have you read, potential “secondary/side effects” (good or bad) of the proposed intervention?

c. Are these secondary/side effects supported by economic theory? If so how? If not, what theory supports such a claim of secondary/side effects?

iv. Summary of your opinion on the issue – what ‌‍‍‌‌‍‌‌‌‌‌‍‍‍‌‌‌‌‍should be done?

Expert Solution

Affluence and urbanization are an advantage to every town, state or country. The construction of roads, hospitals, real estate, businesses and factories has various benefits, among them being the attraction of investors, the improvement of the business environment and the improvement of living standards of citizens. However, when urbanization is not correctly planned, it could lead to gentrification and displacement. Here, industries and people with positions of influence unlawfully obtain land from previous owners to begin or expand their businesses, improving their housing standards or initiatives to attract investors to their ventures. Mainly, since people displaced are poor, ignorant of their rights, and without social and political influence, the reclamation of this land is usually difficult. Forming teams that act as a link between the wealthy and the poor in the society and passing laws protecting the land of the unprivileged could reduce the annual reported cases of gentrification and urbanization. 

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