The accountancy of marketisation: Fictional markets in housing land supply

Abstract

This article investigates the performative role of accountancy in embedding market mechanisms in public services. Drawing on the work of Karl Polanyi, it argues that marketisation can be understood as a work of calculative modelling in which the fiction of a self-regulating market is propagated through the concealment of the social and political practices on which it depends. Exploring this thesis in the marketisation of housing land supply, the article provides a forensic study of an accountancy procedure called the Housing Delivery Test that modelled an ideal housing market in the English land-use planning system. The study points to the importance of Polanyi's analysis in theorising the performativity of calculative practices in the project of marketisation, not as creating the economy they describe but in fashioning a fictional market.