The post-Cold War era of globalization has engendered a neo-liberal consensus among political elites in the world. As amply demonstrated by many scholars, this consensus has been accompanied by widening economic and social inequalities within and across nations (see, e.g., Adelman, 1998). Urban fragmentation, social polarization and withering social cohesion are often pointed out as consequences of this development. Yet it remains unclear how economic change on a global or national level transposes to the urban or even individual level.