GEOG 216 Study Guide - Midterm Guide: John Maynard Keynes, Vertical Integration, Canal Capital
5 Dec 2012
School
Department
Course
Professor
Document Summary
1500-1880: initially, commodity integration grew slowly (a little over 1% per annum, 1720-80: international trade doubles in value, 1780-1840: international trade increases more than 3 fold (industrial revolution, 1840-70: merchandise trade increases more than fourfold (internationalization) Transport and communications (how and why of change: railways and steamships (fast and affordable, telegraph and telephone systems, suez canal (1869), cut down trip to mumbai by half, panama canal. Capital flows (how and why of change: internal financial market growth and innovation, more sophisticated financial systems more trade and integration in the world economy. Demographic transition theory: relates births, deaths and economic growth: phase 1: birth and death rates are in a high equilibrium, phase 2: more children survive, death rate slows, demographic gap, phase 3: lower birth and death rate equilibrium. Population lag effect represents continued growth after achievement of replacement level fertility is reached. A relatively large generation of woman have fewer children.
