Gentrification

Gentrification is the dramatic social and economic transformation of poor urban neighborhoods by a rapid influx of more affluent residents, investors, and upscale shops, restaurants, and entertainment venues, driving up rents, land values, and retail prices. Gentrification dislocates less affluent residents, landowners, and business operators, who are priced out of the local neighborhood economy. Gentrification is a growing ethical concern for business and society as the world’s population concentrates in dense urban areas and the management of cities increasingly determines conditions of human livability, natural ecosystems, and economic vitality. As the pace of urbanization quickens, the livability of cities increasingly determines the ability of people to meet their needs, develop their capabilities, and participate effectively as members of society. The ethical implications of gentrification for ...