GEOG 3LT3 Lecture Notes - Lecture 10: Detroit Bankruptcy, Deindustrialization, Land Values
14 Aug 2015
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Document Summary
The wealth of cities: cities, civilization, and development are inter-related: ocities are meeting places for economic and non- economic exchanges oeconomically, cities are agglomerations of diverse markets. Agglomeration reduces transaction costs (some sort of economic benefit that comes from being close together, allows for interaction and draw strength from each other) ocities organize global value chains ocities and density spur economic growth. Cities in local-global context: city economies comprise basic and non-basic sectors, basic- bringing money into economy by providing service to people outside the community ex. Commercial fruit orchard, fruit it grown in mass amounts in community then shipped out: non-basic- do not generate new money from outside the community, only product and service is offered to ppl within community ex. Hairdresser, local retailer: city economies are shaped by hinterland, national and global contexts, and connectivities connectivities. Toronto has output defined by links to banking to places. Jacobs externalities occur as cities diversify in new.
