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Lecture 5

GGR221 Lecture 5.docx

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Deborah Leslie

rd GGR221 New Economic Spaces Lecture 5, Feb 3 Midterm Worth 20percent of final grade Format two sections: definitions and short answer questions Some choice Add detail to each answer – define and giver significance Focus on lecture materials and handouts Who? Staples – horald innis Marginal theory What? Is the concept ? historical origin? Give examples to explain (linkages in staple theory – forward, backward linkages) Significance? Why does this concept matter? Important to Canadian company? To us? (peak oil – reaching a point half point – diminishing – expensive ) what can it help to understand the economy? Staples staples trap Cumulative causation Half dependent daivd and paul – stages tendency to lock in (last week) Example definition - Open pit versus in-situ mining - Two types of mines, for open pit mining Keynesian – shift to neo-liberal 1930/40s -> 1980s 1980 -> 2008 briefly going back to Hayek Bretton Woods: White and Keynes - State regulation - How can we make the global economy stable? - U.N Monetary and Financial Conference - In 1944 - Rules for new international monetary system - Currency constantly shifting - Fixed exchange rates whereby all the world currency is fixed only with agreement -> like Gold Standards - U.S dollar backed up by gold reserve - Creation of International Monetary Fund (1944) – they can borrow in the same amount they deposited – - International Bank for Reconstruction and Development now part of World Bank – provide loans – enhances global trade The Crisis of Fordism (1970s on) - Mode of regulation is outmoded - Mode of accumulation production is outmoded - Both of these collapse - Regime of accumulation - A) declining productivity rates – number of cars produced per hour per person has declined in North America. Why? Limit exists in deskilling – high level of absenteeism – no efforts to make production - B) divergence productivity and wages – decline in production , higher wages – profitability - C) exuberated – international competition - D) internationalization of production – david Harvey calls the ‘spatial fix’ – take advantage of uneven development – cheaper workers to work longer – further destruction – high level of employment - E) structural overcapacity – no demand for these in market places – factories close , not working at the full efficient level. – not being utilized – profitability crisis - F) poor quality control – low workers engagement , taylor, Fordism - not good quality - G) lack of market contact and collapse of mass consumption - predicated in mass consumption – counter cultural revolution – against consumerism , homogenization - market not following the trend – gender role – mass production (predominantly male) and mass consumption (predominantly female) shifts - Mode of regulation - Fiscal crisis of the state – taxes that they pay lowers, rising costs for Keynesian, social programs but low revenue - Stagflation – rising unemployment – inflation continued to rise – rise inflation – open crisis – oil went hyrocketed – usually high unemployment , low inflation but opec crisis made it exceptional - Collapse Bretton Woods 1971 - Casino economy – Conclusion - Every era characterized by a distinct regime of accumulation and mode of regulation - Ensured stability and growth until 198-s Industrial restructuring, post-fordism and the Canadian Automobile industry - The history of the Canadian automobile industry – influential and important, value added process- creation of employment - Prior to the 1960s, Canadian industry separate - The u.s. came into Canada buying indigenous firms or branching out -> ford, Chrysler to Canada for Canadian market – due to high tariffs - Tariffs on cars and parts - Industry began to decline - Bladen Commission (1961)- high cost for very small market -> to rationalize the whole industry – why not creating one combined production? - 1965 Auto Pact – conditional free trade agreement – took down all tariffs (parts and cars) – integrated production system - Canadian Value Added requirements – very strict – ensure level of produc
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