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Public expenditure for private profit

This video arrives via Paul Norman's Olympic blog. On September 28 2011 he chaired a debate at the London Thames Gateway Development Corporation's annual meeting. He says:

"One can always expect a dose of positivity at such events, and why not, but it did strike me today that there is a genuine sense of momentum behind the development plans in the area just now. In particular, the opening of Westfield Stratford City seems to have boosted confidence that major commercial opportunities and investment are coming and there is a lot of positivity about just how much work is being generated for the local community."

It is an interesting glimpse into how excited these members of a growth coalition get when clearances are opened up for profitable private investment of surplus capital. Thanks to overlaid states of exception that are brought to bear upon devalued former industrial land through the expenditure of taxpayers money by cooperative government in order to create a good space for business.

From Video: LTGDG meeting and interviews with east London’s key players


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