Mass Market, Industrial Production - Lecture Slides | GEOG 120, Study notes of Geography

Download Mass Market, Industrial Production - Lecture Slides | GEOG 120 and more Study notes Geography in PDF only on Docsity! 1 Exam 2 grades (Curved to 97=100%) 1 0 4 1 4 7 4 5 9 7 27 29 3 0 5 10 15 20 25 30 35 F <58 D- 58-60 D 61-64 D+ 65-67 C- 68-70 C 71-74 C+ 75-77 B- 78-80 B 81-83 B+ 84-86 A- 87-89 A 90-86 A+ 97+ Mass market, industrial production Characteristics of mass production Large, stable product markets Vertically-integrated firms Assembly-line production systems Segmented labor markets (primary, secondary) Crisis in 1970s due to: Saturation of mass markets Falling profit rates Rising inflation and high interest rates International monetary instability • End of fixed exchange rates • Third World Debt Intensified global competition New technologies International division of labor National division of labor Producers Local, global, shaped by digital & transportation infrastructure Local and national, shaped by transportation infrastructure Markets Leisure- entertainment in global markets Material needs in national markets predominate Consumers Intellectual property ‘easily’ distributed Easily enforcedPrivate property Global financial flows Nationally controlled currency Exchange Information goods and services Material goodsCommodities Information Economy Industrial Economy Basic components of the economy Structure of World Output, Industrial and Developing Countries, 1960-1990 0 10 20 30 40 50 60 70 1960 1970 1980 1990 Pe rc en ta ge o f G D P Services--Industrial Services--Developing Manufacturing--Industrial Manufacturing--Developing Agriculture--Developing Agriculture--Industril Time $$ Industrial Product, Revenue and Expenditures Time $$ Information Product, Revenue and Expenditures 2 Implications for Urban Structure Vertical integration led to “company towns” Global production and de-industrialization undermined older industrial cities, but benefited newer, high-tech driven cities Network production, information markets and value of “innovative milieux” reinforces ‘network’ cities Fr om H ar ris on , B en ne tt (1 99 4) L ea n an d M ea n (N ew Y or k: B as ic B oo ks ), p. 1 55 Key points on economic transformation Economy has gone through a major restructuring in the post-1970s period Different cities experienced (and continue to experience) this restructuring in very different ways This restructuring has significant implications for urban form, characterized by: Greater volatility Complex global-local dynamics Network society but territorial cities