GGR111H5 Lecture Notes - Lecture 11: Green Economy, Economic Restructuring, Wealth Concentration
Document Summary
Review: more trade taking place, more movement of money, dismantling "protectionism" is important, produced inefficiency because there is no challenge. No reduction in cost, no innovation, need to dismantle it. Expect economies to become larger but notice high wealth concentration in developed. Globalization and developed world: massive de-industrialization, detroit (process of redevelopment, urban development, significant consequences: losing jobs, losing opportunity, growing gap between rich and poor. Creative economy: associated with urban economy, re-industrialization: service oriented, because of technological change, new lifestyle, emergence of green economy: slow, buildings on campus: reduce dependence on fossil fuel for energy efficient. Service economy: so broad, difficult to analyze, two types of skills: hard skills, soft skills, hard: specific skills associated with (ex. Offices are expensive, if you can relocate somewhere else and use technology to make accessible. Showing us in manufacturing there has been a decline in jobs. Service economy is concentrated in both low income and high income categories.
