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Chapter 8 Notes

by: Hannah Ahmed

Chapter 8 Notes Geog 1101

Hannah Ahmed
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About this Document

This chapter cover economic development and capitalism. It includes information from lectures and the book.
Human Geography
Dr. Rice
Class Notes
Human, geography, economic, development, capitalism




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This 7 page Class Notes was uploaded by Hannah Ahmed on Monday September 26, 2016. The Class Notes belongs to Geog 1101 at University of Georgia taught by Dr. Rice in Fall 2016. Since its upload, it has received 23 views. For similar materials see Human Geography in Geography at University of Georgia.

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Date Created: 09/26/16
Human Geography Chapter 8 Economic Development Mainstream Ideas of Economic Growth and Development  Economic growth indicated by increase in GDP o Value of countries output o Want to take the value of goods and services country is making and increase that value  Seen as a good thing  Economy is growing, driven by changes in technology  Economic development indicated by increase in citizens quality of life o Human development index used to measure quality of life o Education, health, infrastructure Ideas of Economic Growth  Increase GDP  Increase quality of life o Bring in highways, infrastructure Economic Development  “Processes of change involving the nature and composition of the economy of a particular region, as well as increase to the overall prosperity of a region.” -Page 216  $$All about producing money$$  Process of increasing in standard of living/technology/ GDP  Idea (desire) about how societies should develop and change o Underlying ethic this is something good and what we should be doing *Human geography considers the spatial and social patterns associated with a distinctly capitalist mode of economic development * What is capitalism?  An economic system bases on private ownership, where production and consumption are facilitated through competitive markets.  Fundamental Condition: Private Ownership o Few people (capitalists) own the means of production (capital, equipment, buildings, machines, natural Human Geography Chapter 8 resources, etc. required for making good or providing services).  All the stuff you need to make other stuff  Only a few people who privately own means of production o Most people (proletariat) work for the owners of the means and conditions. o Creates the relationships of production  Where we see various inequalities  Ingredient #1: Wage Labor o Workers are paid a wage (money, not products) for their labor (labor is sold on the market) o Workers must work more hours than required to pay their wage (surplus value)  Workers make less than the product value made  Exploitation of workers o Workers use their wage earnings to buy the products they produce, capitalists accumulate profits and relevant to expand  Ingredient #2: Commodities o Items made with human labor for sale on a market o Human labor + natural resources o Profit generated through the production and consumption of commodities  Ingredient #3: Accumulation o Accumulation of wealth (Profit) by capitalists and reinvestment into production  Technological innovation’s to reduce labor costs which increase profit  Replacing people with machines, cut benefits /hours  Technological innovation to produce new products for people to buy  Tablets, drones, self parking cars, iPhone  Creation of new markets  Bringing iPhones to china, more people to buy their stuff  Cutting environmental/ social protections to reduce cost  Not recycling/ disposing waste safely to reduce production costs  Can see how some of these have negative consequences ^ Human Geography Chapter 8 o Over- Accumulation = concentration of wealth in hands of capitalists (who buys their stuff?)  If wage workers don’t have enough money to buy their stuff Crisis of Capitalism?  Capitalism actually requires continual intervention (often by the state) to keep it going  Examples o Worker safety laws o Minimum wage laws o Environmental regulations How does this relate to economic development?  Economic development often involves changing social relations towards wage labor relations  Economic development often involves the creation of new commodities for consumption, or facilitation of new markets for production/consumption  Economic development often had to deal with the increasing inequalities produced by accumulation o Essence of politics Increasing inequality?  Most inequality we’ve ever had in history, globally and nationally  80% of the world share 6% of world’s wealth  1% of people have 43% of world’s wealth  Athens Clarke County highest poverty rate in the state of Georgia o Why?  College town  Not an urban campus  Students don’t work full time, parents supplement income. Show up as under poverty line but actually living fine  11.4% percent of students count towards poverty line  Still highest in state without college students Economic Development is Uneven  From local to global scales… Human Geography Chapter 8 o Capitalist wealth isn’t distributed evenly  Concentrates spatial  Profits tend to flow and accumulate in some areas while others are exploited  Crises of capital can be avoided as long as companies relocate production to new places around the world. (Spatial fix) How Does the Spatial Fix Occur?  1) Moving extraction processes o Examples: logging, mining, fishing  2) Moving production processes o Examples: outsourcing to avoid labor costs and environmental regulations  3) Establishing new markets o Examples: McDonalds, bottled water  3 processes to geographically offset capitalism Review: Capitalism and Economic Development (Not online)  When we speak of economic development, it is both a process and an idea related to capitalism  Capitalism is based on private ownership of the means of production, wage labor, commodities, and accumulation  Economic development often involves changes in the relations between capitalists and laborers  Economic development also often involves creation of new markets (products or people)  Economic development is also related to technological development  Capitalist economic development has resulted in social inequalities and spatial ones… Economic Development is continually reproducing the social and spatial inequalities of capitalism, at the same time it tries to fix them… Textbook alludes to these things but doesn’t fully develop these concepts Economic Structures  Four categories of jobs/ industries o Primary  Working with the extraction of natural resources  Farming, mining, forestry Human Geography Chapter 8 o Secondary  Making things either by manufacturing or construction  Nissan car manufacturing o Tertiary  This type of industry provides services. These include commercial (shops) services, professional (solicitors), social (teachers), entertainment (restaurants) , personal( hair dresser) o Quaternary  This is a new sector and is linked to ICT and research development  Genetics researcher  Primary (some secondary) sector activities are found more in developing countries Measuring Economic Development  Gross Domestic Product (GDP) o Total value of all materials, foods and services, produced by a country o Increasing is good  Gross National Income (GNI) o Income that flows to a country no matter where it’s produced o Corporate headquarters or money brought in to country  Purchasing power parity (PPP) o Differences in currency o Comparing the value of currencies Alternative Measures of Economic Health?  Addition to the conventional indicators  Gross National Happiness o Good Governance o Education o Cultural diversity  Genuine Progress Indicator o Maryland incorporates this into state level assessment Globalization and Economic Development  How does all this relate to our world system? o New international division of labor  Outsourcing, specialized dependent economies o New technological systems  IPhones, hover boards Human Geography Chapter 8 o Homogenization of international consumer markets  Similar stuff being sold around the globe o Internationalization of finance  World Bank, IMF, Swiss Banks  All connected housing market in U.S. could have global consequences  What about the economy and environment? o Resources influence development… o To some degree  (Cheap) energy  Coal, timber  Cultivatable land  To make textiles, food, etc.  Industrial resources o Fracking “Black Gold”  Hydraulic fracturing to get natural gas out of the ground  Very cheap  Contaminates water supplies with chemicals and causes earthquakes  Opportunity cost worth it? Resource use and sustainability  Ecological footprint o Better assess what would happen if everyone lived like you o Show the disparities of economic development  Sustainable Development o Could achieve economic development and be sustainable at the same time o Social policies, incentives o Abstract ideal Neoliberalism and the Economy  Neoliberalism: “economic policies predicated on a minimalist role for the state, that assume desirability of free markets not only for economic organization, but for social and political life. If necessary, social goals and regulatory standards have to be sacrificed, it is argued to ensure that business has the maximum latitude for profitability” (273)  Started in Regan factor era o Economic political shift towards one that promotes free markets Human Geography Chapter 8 o Liberalism in an economic sense, not political party association Keynesian Ideas  Contrast neoliberalism  Government sponsored work programs provide economic stimulus by maintain consumer demand.


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