This article contributes to the emerging body of literature in the field of urban studies that addresses the classical ‘division of labour’ between analyses of the workings of urban power at the macro- and micro-levels. Our theoretical framework aims to capture how processes of power are exercised in processes of urban restructuring. In the field of gentrification studies there have been calls for theoretical developments based on analyses of various local contexts in which rent gaps may be exploited in similar yet varied ways. We contribute to this discussion through an analysis of governing strategies and protests linked to urban restructuring in the context of the so-called Million Programme in Sweden’s two largest cities. In particular, we address the consequences of public housing companies being forced to operate according to ‘business principles’. Importantly, we demonstrate how advanced liberal government, under the influence of neoliberal ideology, has largely worked through a process of responsibilization. We discern a chain of responsibilization leading from the macro-, via the meso-, to the micro-level – ultimately involving the individual tenant; and highlight how a struggle that we call a politics of responsibility has taken place around each link in the chain.