The author states that in the book they have treated property that does not only have a monetary value associated with it, it even has social values associated with it. Different properties have different social values for different people. For example, the social value that residents associate with the property is the place that satisfies their needs. Entrepreneurs consider property as a place that helps them in production. The authors’ even state that if a property is used for one value or purpose, the other value associated with it by other individuals is forgone. These values associated with properties are especially true for capitalist nations such as United States. The authors state that these places even help in the stratification of the society and helps in identification of the social class of the owners of the property. The author then focuses on the objective of the book which is to identify how different groups within the United States manipulate the prices, how different markets operate and how these changes impact the lives of the citizens of United States. In this chapter the author even argues the difference between the position regarding the value of property that the authors have taken and the position that Marx and his followers have taken.
In this chapter the author claims that there is a fight between the residents and the entrepreneurs for space and property and this conflict is due to their different objectives. I do not agree with the author’s position as I believe that it is not the objectives of the groups that are creating a conflict and rather it is the limited amount of space that is causing the issue. Place and property are scarce resources for people living in a single nation and that is why they conflict against each other in order to obtain more of this scarce resource.
In this chapter the author claims and even rejects the previously held notions regarding