GEOG 216 Lecture Notes - Lecture 10: Kuznets Curve, Walt Whitman Rostow, Mercantilism
17 Jan 2018
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Document Summary
Economic growth and structural change in eco terms. Eco grows and expand and the structure of the eco changes it has changed. Back to mercantilism (18th c): dvpt: accumulation of gold and silver poverty was actually a good thing as it was cheap. But the 19th c (liberalism): poverty becomes a bad thing, just like slavery through time. Growth -> basic needs -> poverty reduction -> freedoms and capabilities. Need to give them capabilities to improve their well-being. If you become wealthier you spend less on food as income increases demand falls for agriculture products. However, agriculture depends on the demand on food. As eco dvps, more urbanization: economies of agglomeration. Advantages of being closer for industries: need labor, water easier to purchase inputs all together rather than spread out. Industries will cluster together: economies of scale: >less expensive to produce things in a larger space than smaller.
