GGRB05H3 Lecture Notes - Lecture 3: Deindustrialization, Economic Globalization, Informal Sector
Document Summary
The world economy: refers to an economy in which trade occurs between firms based in different counties, i. e. activity that occurs across national borders, has existed since the 16th century. The global economy: refers to an economy that has the capacity to work together as a unit on a planetary scale, growing development of a single world market, more recent development since the 20th to 21st century. De-industrialization: economic globalization since the 1940s has led to a decline in the number of industrialized cities in the western world. Industrial capitalism: productive industries (manufacturing etc. ) drive economic growth, largely male/masculine workforce, steady growth of gains for workers (pensions, benefits, wages etc. , largely nationally/regionally labour pool. Advanced capitalism: service, financial markets drive economic growth, feminization of the economy, growth of tnc"s, largely global labour pool (nidl, flexible, more insecure employment conditions, growth of informal economy.
