GEO 171 Week 6 Notes
GEO 171 Week 6 Notes Geo 171
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This 5 page Class Notes was uploaded by Mia Notetaker on Friday October 7, 2016. The Class Notes belongs to Geo 171 at Syracuse University taught by Todd Rutherford in Fall 2016. Since its upload, it has received 4 views. For similar materials see Human Geography in Geography at Syracuse University.
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Date Created: 10/07/16
Human Geographies Week 6 Notes Economic Geographies III Key Concepts: ● Traditional economic geography ● The new economic geography ○ Marxism ○ Feminism ○ Institutional approaches Traditional Economic Geography: ● Draws on mainstream economics ● Firms make the decisions ○ What to make ○ How to make ○ Where to make ● Emphasis on equalisers/ optional location ○ Ex- Weber’s locational Triangle (see powerpoint from class) ~Weber’s Triangle Traditional approaches Criticized so far: ● Focusing too narrowly on location & decisions ● Abstracting economy from a social relations & power The New economic geography: ● Is intellectually diverse ● Emphasis on political economy ○ Ex- power & social structure ○ Class labor & capital ○ Gender, race, & other identities ○ Institutions - the state, law, producer associations, etc Marxian Approaches: ● Capitalism as a made of production, driven by: ○ Production of commodities ○ Profit marxism/capital accumulation ○ Class conflict ○ Crisis & ‘creative destruction’ The accumulation process: ● M= invested capital ● C= commodities ● MP= means of production (plant/machinery) ● LP= labor powers (workers) ● P= production ● C1= new commodity ● M1= surplus (profit) Social production of Space- ● Tensions between fixity & mobility ● Uneven development & spacial fix ● The spatial division of labor ( Massey 1984) ○ The allocation of productions tasks to different people in specific location ○ Both a legacy of past investments & an influence on future investments Marxist perspective (arguably) most complete alternative to traditional approaches: But can be subject to criticism: ● Human agency? ● Too focused on formal economy? ● Lack of attention to gender/race Feminist Approaches: ● How gender shapes employment, work, & identity ● Attention to masculine/ femininity ● Emphasis on ‘diverse economies’ Institutional approaches: ● Economy is not self regulating, but is ‘embedded’ in institutions ● Path to dependency emphasised ● Emphasis on how institutions influence regional development ○ Ex- venture capital in Silicon Valley ● Emphasis on regional collective knowledge & learning & trusts ○ Ex- Third Italy Conclusions: ● Economic Geographies have critiqued traditional location models ● Sub- discipline now more diverse Economic Crisis & Recovery: Key Concepts: ● Chronological Crisis ● The uneven geographies of crisis ● Perspectives crisis Case Study - 2008-2016: ● In US, began in ‘sub-prime’ housing market (2007) ● Credit crunch - bank failures (by fall 2008) ● Stock market decline 40% (2007-2008) ● Job loss (18 million) / Unemployment rate (+10%) ● Worst crisis since Great Depression (1930’s) ● Crisis becomes global (2008-2009) ● Intervention between US, Europe & other govs ● Slow recovery or continued crisis? Uneven geographies & crisis: ● Within US, worst affected areas: ○ NYC (financial services) ○ Detroit ( manufacturing) ○ Florida/California (Housing bubble) ● Impacted male workers more at first, than swapped later on ● Minority community deeply affected by both mortgage & job market Recovery?: ● In US, total employment has risen & unemployment has declined (Thanks Obama) ● But recovery still weak historically/geographically uneven Globally: ● UK, Ireland & Southern Europe hit the hardest ● China/emerging economies recovered quickly ○ But now slowing down, debt-collapse commodity crisis/ prices Why the crisis? Different Perspectives: ● Conservative: ○ Due to irresponsible spending/borrowing/lending & ‘crony capitalism’ ■ Solution- free market return ● Liberal: ○ Crisis due to deregulation of financial system in 1990’s/2000’s ○ Ending of new deal regulation & repeal of Glass-Steagall Act (1999) ○ Rise of non-regulated ‘shadow’ banking system ■ Solution- re-regulate financial capital Marxist: ● Crisis is inherent to capitalism & more specifically neoliberal capitalism In Practice: ● Privileges investors (capital) over the wage earners (workers) ● Financialization (increasing power of financial capital) ● Growing inequality & declining workers real income Why?: ● Average workers lack sufficient income & greater indebtedness ● Extremely wheatly have more speculative investments ● Overall slowing down of global growth = ‘secular stagnation’ ● Crisis tendencies are inherent & near solved ○ ‘They are only moved around geographically’ (Harvey 2011)