GEOG 1101 Lecture Notes - Lecture 5: Meliorism, Purchasing Power Parity, Foreign Direct Investment
5 Dec 2017
School
Department
Course
Professor
Document Summary
What parameters do geographers use to study economic development: measures of prosperity. Income: productivity, purchasing power, consumption, changes in the structure of the region"s economy, ex. ) shift from agriculture to manufacturing, changes in the forms of economic organization in the region, ex. ) Shift from socialism to capitalism: changes in the availability and use of technology within a region. Geographical divisions of labor: national, regional, and local based economic specializations that have evolved with the growth of the world-system focused on global interlinked trade and politics. The unevenness of economic development: rates and level of development are uneven, core, periphery, semi-periphery (global scale) Initial advantage: having an early start in economic development; places that have a geographical path dependence leads to a persistent growth: external economies: cost-savings that result from advantages from external factors outside of firms, ex. ) Access to resources, having a highly educated human capital, company can pull these outside resources.
