Originally published in 1957, this book introduces the term ‘estate capital’ to distinguish investment in land and buildings, in which agriculture rests, from investment in agricultural machinery and other forms of capital which are essentially agricultural. The book provides a general review of the formation of estate capital from estate income, the provision of estate capital from other sources the level of investment on agricultural estates. Concluding chapters describe the influence of estate character upon the formation, provision and investment level of estate capital. Estate duty levy on agricultural estates, tenants’ contributions to capital investment, and charity estates receive special attention.

“This superbly succinct and incisive book” on urban planning and real estate argues gentrification isn’t driven by latte-sipping hipsters—but is engineered by the capitalist state (Michael Sorkin, author of All Over the Map) Our cities are changing. Around the world, more and more money is being invested in buildings and land. Real estate is now a $217 trillion dollar industry, worth thirty-six times the value of all the gold ever mined. It forms sixty percent of global assets, and one of the most powerful people in the world—the former president of the United States—made his name as a landlord and developer. Samuel Stein shows that this explosive transformation of urban life and politics has been driven not only by the tastes of wealthy newcomers, but by the state-driven process of urban planning. Planning agencies provide a unique window into the ways the state uses and is used by capital, and the means by which urban renovations are translated into rising real estate values and rising rents. Capital City explains the role of planners in the real estate state, as well as the remarkable power of planning to reclaim urban life.