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Definition
The increased and deepening global interconnection of ideas, cultures, technology, economy, market, and politics. |
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Term
Define the Geography of World Economy? |
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Definition
Spatial distribution of economic activities on an increasingly interdependent world scale. |
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Definition
Imanuel Wallerstein, argues that there is no “Third World”, claiming there is only one world connectd by a complex network of economic exchange relationships- ie: a “world economy” or “world-system” in which the “dichotomy of capital and labor” and the endless “accumulation of capital” by competing agents (historically including but not limited to nation-states) account for frictions. This approach is known as the World Systems Theory.
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Term
Why did the British Empire constitute one economic system? |
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Definition
Because they were an integrated economic system with a single spatial division of labor. |
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Definition
That eventually each developing country, no matter what historically, eventually your GDP will converge in an acceptable range, where you can sustain development. |
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Term
| Three reasons the geography of trade has changed. |
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Definition
- Innovations in transport, communications and manufacturing technology.
- Shifts in Global Politics.- The breakup of the Soviet Bloc, integration within Europe, increased participation by China, and trend away from isolationsism of the US.
- The increasing internationalization and flexibility of the production process.
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Term
| advanced capitalism (disorganized capitalism, globalized capitalism) |
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Definition
| Label given to the most recent or advanced phase of capitalism that uses FLEXIBLE PRODUCTION SYSTEMS. Under advanced capitalism, relationships between capital, labour and government are more flexible, largely because a great deal of coporate activity has escaped the framework of nation0states and their institution that still constrain organized labor and most government functions. |
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Term
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Definition
| clustering together of functionally related activies. |
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| batch production, Just-in-Time Production |
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Definition
| Manufacturing production invloving small batches, rather than continuous mass production of similar items. |
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| Business Process Outsorcing |
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Definition
| Contracting out of business tasks, like telemarketing, credit card claims, billing processes. |
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Definition
| The process whereby capital-intensive inputs such as technology are deployed by large firms and replace labor-intensive methods associated with smaller scale production. |
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Definition
| the way in which human societies organize their productive activities and thereby reproduce their socioeconomic life. |
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Term
| five major modes of production |
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Definition
- subsistence
- slavery
- feudalism
- capitalism
- socialism
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Term
| four phases of capitalism |
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Definition
- Merchant capitalism (mercantilism)
- competitive capitalism (early phase of industrial capitalism)
- organized capitalism (later phase of industrialized capitalism
- advanced (globalized or disorganized) capitalism
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Term
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Definition
| land and other natural resources, labor, physical and human capital. |
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Term
| how does modes of production affect spatial change? |
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Definition
| the economic differences of different modes of production results in substantially different forms of spatial organization. |
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