Exploring the World for Lessons on Gentrification

A new series on gentrification from The Guardian—"Gentrified World"—explores the urban economic process as a global phenomenon. From the inaugural piece:

This Guardian Cities series will examine the consequences of gentrification around the world, and interrogate what is being done to tackle it. From Vancouver’s pioneering gentrification tax to the efforts of a tenants’ cooperative in Brooklyn, from housing evictions in Johannesburg to the impact of Airbnb in Amsterdam, we will hear from groups on both sides of the regeneration machine about the impacts, challenges and tactics being deployed on this ever-shifting battleground.

The piece breaks down the conflicting popular narratives around gentrification, or "trickle-down regeneration," ultimately noting:

Your opinion might depend on which side of the property-owning chasm you are on, and the respective consequences: an uplift in the value of your assets, or an increase in the rent you must pay to stay. In all cases, the winners are the landowners, who profit handsomely from the unearned income of neighbourhood improvement.

Author Oliver Wainwright jumpstarts the discussion with his own contribution to the debate, citing Adam Smith and Milton Friedman:

My own view is that the best solution to mitigate the impact of the almost inevitable tide of urban gentrification is a tax on the value of land, which would capture the value of improvements for the local community, rather than lining the pockets of investors.