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Use Cases
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Resources
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Pricing
1700 - 1940
% complete
Three Sided Trading System
-raw materials from periphery exported to Europe/USA
-manufactured goods from Europe/USA exported to UK
-manufactured goods from UK exported to periphery
Large countries with political independence pursued import substitution policies
1750 - 1970
% complete
Three zones emergent between 15th and 19th centuries: core, semi-periphery and periphery
Decline in manufacturing in colonized/dominating countries
Investment in Plantation Agriculture and Extraction of Industrial Raw Materials
Correlation between "burts" of colonization and Kondratieff downturns
1870 - 1930
% complete
Under the Gold Standard
1890 - 1960
% complete
Creating a repeating circle between production and consumption
1890 - 1900
% complete
To defuse class hostility, to stimulate profits and in turn economic growth, try and flatten the business cycle, economies of scale mixed with regulation/mediation, encourage consumption
1900 - 2012
% complete
Healthcare provided by the govt or the employer, state pensions, underemployment benefits, retraining of workers, mass public education
1907
% complete
Taylorism= created efficiency within factories by dividing the work into separate tasks (time efficiency relative to production output)
Fordism= Higher wages lead to higher consumption; increased wages leads to an incentive to sell more which leads to increased profits; cheaper products for mass production e.g. Model T
1910
% complete
Required increase in wages
1940 - 1970
% complete
***Latin America Independence came after 1820s
Declining rates of barter-terms-of-trade overtime for basic commodity exports
1944 - 1971
% complete
Bretton Woods Agreement= a chance to create a stabilizing international currency and ensure monetary stability once and for all
1970 - 2012
% complete
The Industrial Reorganization of the Core (changing from technology to labor and moving offshore--> global supply chains)
Capital Intensity in manufacturing increased and labor intensive jobs were off-shored (new technology is as important as globalization in reducing manufacturing jobs; fewer jobs is a result of new technology NOT globalization)
Rise of Dual structure in the service sector
(producer & financial FIRE and consumer services)
Rise of Financial Services Industry, Driver of economic growth
Increase in Part time, decrease in full time jobs
(manufacturing jobs decrease, manufacturing increase)
Jobs moved to BIG cities and agglomeration economies are grouped
1970 - 2012
% complete
-Biggest Firms are now mainly multinational or transnational
-Taxes rise in order to shelter profits
-With the rise of China, the majority of the FDI is barely established between core countries
-Product Life Cycle Model and Relocation of Labor Intensive Production
-Massive share of trade today is within firms
-Global supply chains have components from multiple sites and assembly lines
1970 - 2012
% complete
Capitalization of Export Agriculture and Resource Extraction
Shifting from Import substitution to local export-oriented manufacturing
Growth of Global Supply chain manufacturing
Capital Intensive Agriculture in ______
1971
% complete
The fixed exchange rate was changed to a floating exchange rate for the US Dollar
Nixon wanted to make exports more competitive before the 72' Election
Beginning of Financialization of the World Economy
1973
% complete
Major factor in the world economy, second pike occurred in 79'
The US had supplied itself with gas before the 1960s