Economic Geography

Industrialization Result of the Industrial Revolution People began to make one good, specialty goods Fordism, mass production Countries that have industrialized = industrialized countries Service-based economies- economies based off of survice based fields, examples = tourism, research, marketing

Deindustrialization Backwash effect- when a regions economic gain is based off anothers economic loss Rust Belt- Great Lakes where factories shipped to other countries leaving many jobless E-commerce = online business Brick-and-mortar businesses are actual solid businesses

Multi-national Transnational corporations, aka Multi- national corporations Use laws of contries and taxes and labor to their advantage Conglomerate corporations- Have many firms with different purposes under one corporation

Exporting Jobs Export-processing zones- exports jobs to other countries for more profit Maquiladoras- Tijiuana- American factories are built there to pay less wages Off-shore financial centers- bases in remote places to avoid taxes

Economic Activity Scale Primary- Harvest and Extraction of raw materials Secondary- Assembly of raw materials into consumption Tertiary- Retailing, Restraunts, basic survice jobs involving the exchange of goods Quaternary- Research n development, tourism, tourism, or other things that generate/ exchange knowlage Quinary- Highest level decision making

Rostow’s Stages of Development 1 st - primary activities 2 nd - Exploitation of raw materials and commercialization of agriculture 3 rd - Foreign Investment 4 th - Manufacturing and Commercial Industry 5 th - Mass cunsumption

The measure of development Vary hard thing to measure, many different ways GNP- Gross National Product Measure of all goods and survices produced Gives an idea of productivity Does not account for currency differences

PPP n GDP + NNT y HDI Purchasing Power Parity- accounts for currency differences GDP- accounts for capital lost through expoitation of natural resources not seen in GNP NNT- Measures productions with currency and production from investments HDI- Measure human welfare- life expecancy, education, and income Gender Equity- gender equality Not measured in GNP

Core-periphery Model Divides contries into core= developed, semi-periphery, and periphery= undeveloped contries World cities- global centers of econamy Now devided by slow and fast world, the quickness of information, the huge difference between telephone/internet to riding a horse to your friends house

Location Principles Principles for choosing a location: Must have access to raw materials Adequate supply of labor Proximity to shipping and markets Minimize production costs Natural factors could limits industries such as agriculture History and Personal Inclination of leaders

Location differences Footloose Firms- location affects cost Spatially fixed costs- cost is fixed Spacially variable costs- location affects cost Agglomeration- where corporations of the same industry cluster into one area Ancillary activities- agglomeration of shipping and food survice Deglomeration- the opposite of agglomeration

Regionalization Where a region is known for a certain industry Manufacturing region = Great Lakes

Sustainability Sustainable devolpment- too meet your needs without inhibiting the ability of future generations Vary anthropocentric, meaning it only focuses on the needs of people, not other organisms

Globalization Movement to interconnectivity and standerdization of goods inside the world community Highly debateable