GEOG 102 Lecture Notes - Lecture 21: Harold Hotelling, Fordism, Vertical Integration
Document Summary
System of industrial production characterized by a set of processes in which the components of goods are made in different places around the globe and then brought together to meet consumer demand. The term applied to the social and economic changes in agriculture, commerce and manufacturing that resulted from technological innovations and specialization in the late 18th century europe. Expansion of economic, cultural, and political processes to the point that they become global in scale and impact. Highly organized and specialized system for organizing industrial production and labor. Ownership by sam firm of a number of companies that exist along a variety of points on a commodity chain friction of distance. The increase in time and cost that comes with increasing distance. The location of manufacturing establishments is determined by the minimization of 3 critical expenses: labor, transportation, and agglomeration. Process involving the clustering or concentrating of people or activities flexible production systems.
