Counter capital; architecture beyond speculation; a critical story

Abstract

As architecture continues to be commodifi ed and shaped by cycles of fi nancial speculation within our capitalist society, creating a spectacle and profi t are the guiding design principles. Space is created not as a response to the needs of people but to the wants of increasing profi ts. The dependence of the architectural practice on speculative investment practices makes way for grand projects, but also a growing landscape of incomplete and abandoned structures THESE "INVESTMENT RUINS" ARE MANIFESTATIONS OF DEEPER, SYSTEMATIC PROBLEMS: OVER-SPECULATION, DISCONNECTION FROM SOCIAL NEEDS AND OVERALL THE PRIORISATION OF FINANCIAL PROFIT OVER SOCIAL, ECOLOGICAL, OR SPATIAL VALUE The story of “counter capital” explores how architectural storytelling of investment ruin can serve as a form of (radical) critique and generate counter-narratives to cycles of fi nancial speculation. The Elbtower in Hamburg not only serves as an example of these investment ruins but is also the context in which the story is grounded. Through a fi ctional narrative, the thesis refl ects and comments on the socio-economic structures that infl uence architectural production. The story is critical in nature and aims to shift the perspective toward deconstructing the architectural dependence on growth-oriented ideologies and to imagine futures that prioritise the slow processes of degrowth rooted in communities. “Counter Capital” shows that architectural storytelling can serve as a tool for making room for diverse imaginaries and participation in design beyond market constraints. Architectural practice, when liberated from monetary value systems, can transform in its form, practice and agency. The story argues for the practice to be rooted in communities and context to create small-scale and context-specifi c cycles that can resist the endless consumption promoted by capitalist market structures. Through fi ctional narratives, investment ruins become sites of reimagination of social responsibility and value. In doing so, architectural storytelling is defi ned as an essential tool for envisioning post-capitalist futures grounded in community and care.