Common problems or different
questions: A critique of
‘assetisation’
Thomas F. Purcell
King’s College London, UK
Abstract
This commentary provides the contours of a Marxian critique of ‘assetisation’. In doing so, the paper iden-
tifies a subjective approach to valuation and value which ties together Birch’s and Ward’s appeal to the-
oretical pluralism. The argument highlights how a focus on future-orientated valuation practices elide
the question of class and production and, therefore, the very basis of rent and value. A call is made for
geographers to better interrogate the relationship between rent and interest in the flurry of research
around rentiership.
Keywords
value, rent, interest, production, class, rentiership, assetisation
Introduction
Efforts to draw together social constructivist and
materialist political economy are now part of critical
human geography’s toolkit to make sense of late
capitalism’s rentier turn (Christophers, 2014;
Weber, 2021). Hailing from constructivist and
Marxian traditions respectively, Kean Birch and
Callum Ward are well positioned to contribute to
this project in light of their individual and
co-authored projects around ‘rentiership’. In offer-
ing up ‘assetisation’ as an overarching concept to
bridge theoretical dialogue and empirical enquiry
between these traditions, there is much to learn
here from the clarification of how geographers
might navigate the fundamental tensions between
different conceptualisations of value and valuation.
This is likely to provide further succour to scholars
looking to grapple with ‘value in its various guises’
(Bigger and Robertson, 2017: 74) and to those
expanding and risking value theory in arguments
that capitalist value relations are being actively con-
stituted by the work of nature (Kay and
Kenney-Lazar, 2017) and finance (Christophers,
2018).
The paper provides a valuable resource, as is
their stated intention, for scholarship on assets and
financialisation—especially how we might analytic-
ally parse the former from the latter in our research
across spatial scales. That said, I am not convinced
that assetisation, as a ‘middle ground concept
cutting across approaches’ (Birch and Ward, 2022:
2), can contain the epistemological differences
Corresponding author:
Thomas F. Purcell, Department of European and International
Studies, King’ s College London, 10 Winchester Place, First
Ground Floor Flat, London N6 5HJ, UK
Email: thomas.purcell@kcl.ac.uk
Commentary
Dialogues in Human Geography
1–4
© The Author(s) 2023
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DOI: 10.1177/20438206231157885
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