If we leave the development and regeneration of cities to only one form of capital (economic) we will get a one dimensional city which only works for one section of society.
I recommend an article by Philippa Nicole Barr of Macquarie University as a good read about how we need to bring together all forms of capital: social; cultural; intellectual; political; and natural; in order to balance the effects of economic capital so as to make ‘Places Which Work For People’ – all people.
I give a taste by quoting a paragraph here:
“The redevelopment of existing communities and the construction of new urban areas is frequently funded by private companies looking to make a high return on investment. This is achieved by high-value sales or rental rates. But without regulation, these processes create conditions that exclude or disempower poorer people within cities; for example, by limiting access to public spaces or making rent and home ownership unaffordable. One recent study revealed that, compared to other groups of people, poorer renters move more frequently into disadvantaged areas, each time experiencing a decline in their living standards”.
Link to the full article: