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Lecture 4

GGRB05H3 Lecture Notes - Lecture 4: West Edmonton Mall, Market (Place), Smart Growth

Course Code
Denisse Macaraig

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GGRB05 Lecture 4
Monday June 6, 2011
Marvin Macaraig’s New Office: MW379, 1:30-2:30 and 5:30-6:30
Last Week
- Why is growth and GDP always mentioned?
Urban Economies, Employment, and Retail Patterns
Readings: Chapters 12 and 14
Today’s Objectives
Think about the following 3 questions:
1) The role of public vs. private spaces (Where are they?)
2) How are changing retail patterns connected to the competitiveness of cities?
3) Examine more evidence of how cities can be perceived as “generators of wealth”?
- The idea of the global city, how governments promote themselves as global cities (only certain
cities can be called “global cities”)
- Significantly affected urban economies
- Emergence of TNCs (multinational corporations)
- Globalization has allowed the expansion of trade and direct foreign investment
- Increased wealth and surplus capital
- Mobility of capital, it allows capital to be reinvested
- Today you can wire money to anywhere, pay by credit card, etc. (all facilitated by
- We’re globalizing people (labour), not just products (goods, commodities)
- It’s not a recent phenomenon, but it has been happening at an increasing rate recently, inter and
intra-relationship with cities
- Increased and intensification of global economic competition
- We are living in an era of globalization
Post-Fordism: 1940s mid1970s
- Organization of mass production and consumption of consumer goods
- Factories increased employment opportunities
Ex. Making desks, chairs, TVs, etc. all you needed was a highschool degree

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- It was a period of “full employment” because rising wages enabled workers to buy stuff
- Increased unionization
- Growth of the welfare state
- Keynesian economics, government played a role with the economy
- Markets were monitored
- Exchange rates were stable
Fordism: 1970s to Present
- High-value added products
Ex. Manufacturing elsewhere and putting a brand name label on it and charging a premium
- Major differentiation, many brand names of products
- Lots of subcontracting
- High skilled labour markets, as well as lower paying McJobs, increased wage gap
- Emergence of technology sector
- Less government intervention
- Transnational trade markets and agreements
- Privatization and neoliberalization (private enterprises)
De-industrialization and Tertiarization
- Global economic becoming more complicated and integrated
- Competition lead to de-industrialization
Ex. TNCs look for cheaper rates for labour, materials, etc.
- “path of least resistance”
- The people who lose their jobs to other countries, they suffer the most because it’s
happening so fast within the transition from De-industrialization to Tertiarization
How does this affect our cities?
- Rust belts (old industrial centres) that emerged because work sourced out to other countries
such as Shanghai
- Rise of tertiary sector (service industries), such as health care, tourism, education, etc.
- The emergence of the creative class and a knowledge-based economy
Ex. Scientists, engineers, professors, artists, musicians, etc.
- It’s all about innovation and labour attractiveness
- Board of Trade uses “innovation markers”:
- IPO (Initial Public Offering), when a company decides to go public and expand (into
other countries for example), they offer shares in a stock market to take in investments
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