GEO 151 Study Guide - Midterm Guide: Primate City, Kondratiev Wave, Glocalization
17 Mar 2016
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Document Summary
The economy economic forces are the dominate influence in urban change. Since the emergence of the 16th century, the capitalist economy has entered three main phases: the first phase as an era of competitive capitalism characterized by free-market competition between locally oriented businesses and laissez-faire economic development. Scales of businesses increased, consumer markets expanded and become more international and there was a response to public affairs: the second phase is culminated capitalism. Fordism involved working relationships between capital and labour, mediating by government: the third and current phase developed after the second ww (called advanced or disorganized capitalism. It was marked by shift from industrial production to services as the basis of profitability. As mass markets became saturated, and profits from mass markets declined, many enterprises turned to niche markets. The transition was accompanied by globalization in the economy of which transnational corporations operated.
