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Lecture 1 - Intro.docx

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Western University
Geography 3422A/B
Milford Green

Intro 1/18/2013 5:21:00 PM Does Geography Matter?  The cliché is that instantaneous global telecommunications, television and computer networks will soon overthrow time and space o Companies will no longer need headquarters, everyone can work from anywhere  Social interaction still matters, even though we are now in a digital world o Global strengths must be matched by a local feel and a jet- lagged visit of a few days every so often does not provide one o From the start of the industrial age, companies in fast- growing new fields cluster in small regions  Silicon Valley in California  Futures trading in Chicago  Insurance in Hartford, Connecticut  Movies in Los Angeles  Currency trading in London Stock Exchanges  Worlds largest stock exchanges by revenues o NYSE Euronext $7.6 billion o NASDAQ $3.2 billion o CME Group (US) $3.0 billion  Intercontinental Exchange was to Acquire NYSE Euronext For $8.2 billion in December 2012 o The acquisition combines two leading exchange groups to create a premier global exchange operator diversified across markets including agricultural and energy commodities, credit derivatives, equities and equity derivatives, foreign exchange and interest rates Stages of Capitalism  Merchant capitalism (1600-1770) o Saw the rise of a monetary economy through the import of large quantities of precious metal o First international firms were Italian and German owned banking networks o Main source of capital accumulation was international trade  Industrial capitalism (1770-1890) o Rise of manufacturing industry o International productio
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