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World Economy, The: Resources, Location, Trade and Development

by ;
Edition:
5th
ISBN13:

9780131478046

ISBN10:
0131478044
Format:
Hardcover
Pub. Date:
1/1/2007
Publisher(s):
Prentice Hall
List Price: $136.40

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Summary

Appropriate for undergraduate courses in Economic Geography, International Trade, International Business, International Marketing, and International Development. Today's undergraduate Geography students need a This comprehensive and up-to-date volume covers contemporary topics and perspectives. This text provides a sound theoretical and offers a practical foundation for understanding the global economy in an era of shifting borders, restructuring economies, and regional realignments. The authors combine economic theory with geography in addressing critical problems of growth, distribution, and development, and explain their impact on international business. Recent geopolitical changes are vividly portrayed in a series of superb full color maps and striking photographs. Real-world examples make abstract concepts understandable.

Table of Contents

Preface xi
Economic Geography: An Introduction
3(30)
Geographic Perspectives
4(4)
Economic Geography
6(2)
Economic Geography of the World Economy
8(5)
Globalization
13(7)
Globalization of Culture
14(1)
Globalization of Consumption
14(1)
Telecommunications
15(1)
Globalization of the Economy
16(1)
Transnational Corporations
16(1)
Globalization of Investment
17(1)
Global Locational Specialization of Work
18(1)
Globalization of Services
18(1)
Globalization of Tourism
18(1)
Information Technology and Globalization
19(1)
Globalization versus Local Diversity
19(1)
World Development Problems
20(4)
Environmental Constraints
20(2)
Disparities in Wealth and Well-Being
22(2)
Four Major Questions of the World Economy
24(1)
Political Economies
25(2)
Capitalist Economies
25(1)
The Command Economy
26(1)
The Traditional Economy
27(1)
Geographical Information Systems
27(1)
Summary and Plan
28(1)
Study Questions
29(1)
Key Terms
29(1)
Suggested Readings
30(1)
World Wide Web Sites
30(3)
The Historical Development of Capitalism
33(38)
feudalism and the Birth of Capitalism
34(5)
Characteristics of Feudalism
34(2)
The End of Feudalism
36(3)
The Emergence and Nature of Capitalism
39(7)
Markets
39(1)
Class Relations
39(1)
Finance
40(2)
Territorial and Geographic Changes
42(1)
Long-Distance Trade
42(2)
New Ideologies
44(1)
The Nation-State
45(1)
The Industrial Revolution
46(10)
Inanimate Energy
47(1)
Technological Innovation
48(1)
Productivity Increases
49(1)
The Geography of the Industrial Revolution
49(2)
Cycles of Industrialization
51(2)
Consequences of the Industrial Revolution
53(3)
Colonialism: Capitalism on a World Scale
56(12)
The Unevenness of Colonialism
56(1)
How Did the West do it?
57(1)
A Historiography of Conquest
58(6)
The Effects of Colonialism
64(2)
The End of Colonialism
66(2)
Summary
68(1)
Study Questions
68(1)
Key Terms
68(1)
World Wide Web Sites
69(1)
Suggested Readings
69(2)
Population
71(42)
Global Population Distribution
72(3)
Population Density
73(2)
Factors Influencing Population Distribution
75(1)
Population Growth Over Time and Space
76(2)
Population Change
77(1)
Fertility and Mortality
77(1)
Malthusian Theory
78(3)
Demographic Transition Theory
81(14)
Stage 1: Preindustrial Society
81(6)
Stage 2: Early Industrial Society
87(1)
Stage 3: Late Industrial Society
88(1)
Stage 4: Postindustrial Society
89(5)
Contrasting the Demographic Transition and Malthusianism
94(1)
Criticisms of Demographic Transition Theory
94(1)
Population Structure
95(3)
The Baby Boom and Its Impacts
98(1)
Migration
99(9)
Causes of Migration
99(1)
The Economics of Migration
100(2)
Barriers to Migration
102(1)
Characteristics of Migrants
102(1)
Consequences of Migration
102(1)
Patterns of Migration
103(4)
Modeling Migration
107(1)
Summary
108(1)
Study Questions
109(1)
Key Terms
109(1)
World Wide Web Sites
110(1)
Suggested Readings
110(3)
Resources and Environment
113(44)
Resources and Population
114(1)
Carrying Capacity and Overpopulation
114(1)
Types of Resources and Their Limits
115(7)
Resources and Reserves
115(1)
Renewable and Nonrenewable Resources
115(2)
Food Resources
117(1)
Population Growth
117(3)
Poverty
120(1)
Maldistribution
120(1)
Civil Unrest and War
121(1)
Environmental Decline
121(1)
Government Policy and Debt
122(1)
Increasing Food Production
122(4)
Expanding Cultivated Areas
122(1)
Raising the Productivity of Existing Cropland
122(3)
Creating New Food Sources
125(1)
Cultivating the Oceans
125(1)
High-Protein Cereals
125(1)
More Efficient Use of Foods
126(1)
A Solution to the World Food Supply Situation
126(1)
Nonrenewable Mineral Resources
126(2)
Location and Projected Reserves of Key Minerals
126(1)
Solutions to the Mineral Supply Problem
127(1)
Environmental Impact of Mineral Extraction
128(1)
Energy
128(9)
Energy Production and Consumption
131(1)
Oil Dependency
131(1)
Production of Fossil Fuels
132(1)
Adequacy of Fossil Fuels
133(1)
Oil: Black Gold
133(2)
Natural Gas
135(1)
Coal
135(2)
Energy Options
137(5)
Conservation
137(1)
Nuclear Energy
138(2)
Geothermal Power
140(1)
Hydropower
140(1)
Solar Energy
140(1)
Wind Power
141(1)
Biomass
141(1)
Environmental Degradation
142(9)
Pollution
142(1)
Air Pollution
142(2)
Water Pollution
144(1)
Wildlife and Habitat Preservation
145(1)
Regional Dimensions of Environmental Problems
145(6)
Environmental Equity and Sustainable Development
151(1)
From a Growth-Oriented to a Balance-Oriented Lifestyle
152(1)
Summary
152(1)
Study Questions
153(1)
Key Terms
153(1)
World Wide Web Sites
154(1)
Suggested Reading
154(3)
Theoretical Considerations
157(30)
Factors of Location
158(6)
Labor
158(2)
Land
160(1)
Capital
161(1)
Managerial and Technical Skills
162(2)
The Weberian Model
164(5)
Raw Materials
164(1)
Localized Pure Raw Material Plus Ubiquities
165(2)
Perishable Goods
167(1)
Weight- or Bulk-Losing Raw Materials
167(1)
Extensions of Weber's Model
168(1)
Technique and Scale Considerations
169(4)
Scale Considerations
170(1)
Principles of Scale Economies
170(1)
Vertical Integration and Diversification
171(1)
Interfirm Scale Economies: Agglomeration
171(1)
Evaluation of Industrial Location Theory
172(1)
How and Why Firms Grow
173(2)
Geographic Organization of Corporations
175(2)
Organizational Structure
175(1)
Administrative Hierarchies
176(1)
Forces of Production and Social Relations
177(1)
Relations among Owners
177(1)
Relations between Capital and Labor
177(1)
Competition and Survival in Space
178(1)
Business Cycles and Regional Landscapes
178(2)
Information Technology: The Fifth Wave?
179(1)
Business Cycles and the Spatial Division of Labor
180(1)
The State and Economic Geography
180(3)
Summary
183(1)
Key Terms
184(1)
World Wide Web Sites
185(1)
Suggested Readings
185(2)
Agriculture
187(36)
The Rise of Agriculture
188(3)
The Formation of a Global Agricultural System
190(1)
The Industrialization of Agriculture
191(2)
Human Impacts on the Land
191(2)
Factors Affecting Rural Land Use
193(1)
Site Characteristics
193(1)
Cultural Preferences and Perceptions
193(1)
Systems of Agricultural Production
194(6)
Subsistence, or Peasant Mode, of Production
194(1)
Subsistence Agriculture: Crops and Regions
195(5)
Problems Faced by Subsistence Agriculturalists
200(1)
Commercial Agriculture
200(11)
U.S. Commercial Agriculture: Crops and Regions
203(1)
Commercial Agriculture and the Number of Farmers
203(1)
Machinery and Other Resources in Farming
203(2)
Types of Commercial Agriculture
205(6)
U.S. Agricultural Policy
211(3)
The Farm Problem in North America
211(1)
The U.S. Farm Subsidy Program
212(2)
The Von Thunen Model
214(5)
Diminishing Returns and Economic Rent
214(1)
The Isolated State
215(2)
Location-Rent Gradients for Competing Crops
217(1)
Modified Patterns of Agricultural Land Use
217(1)
Von Thunen's Model and Reality
218(1)
Summary
219(1)
Suggested Readings
220(1)
Study Questions
220(1)
Key Terms
220(1)
World Wide Web Sites
221(2)
Manufacturing
223(36)
The Nature of Manufacturing
224(1)
Concentrations of World Manufacturing
224(8)
North America
225(4)
Europe
229(2)
Japan
231(1)
Globalization of Manufacturing
232(1)
Globalization of Major Manufacturing Sectors
233(9)
Textiles and Garments
233(1)
Steel
234(4)
Automobiles
238(2)
Electronics
240(2)
The Changing Geography of U.S. Manufacturing
242(5)
The International Movement of American Manufacturing
244(2)
American Manufacturing Today
246(1)
Flexible Manufacturing
247(4)
Fordism
247(1)
Post-Fordism/Flexible Production
248(3)
Business Process Reengineering
251(2)
Downsizing
251(1)
Real-Time Information Systems (RTIS)
252(1)
IT and Strategic/Competitive Advantage
252(1)
The Product Cycle in Manufacturing
253(1)
Locational Adjustment
254(1)
Summary
254(1)
Study Questions
255(1)
Key Terms
255(1)
World Wide Web Sites
256(1)
Suggested Readings
256(3)
Services
259(42)
Defining Services
261(2)
Forces Driving the Growth of Services
263(7)
Rising Incomes
264(1)
Demand for Health Care and Education
265(1)
An Increasingly Complex Division of Labor
265(1)
The Public Sector: Growth and Complexity
266(1)
Service Exports
267(1)
The Externalization Debate
268(2)
The Productivity Debate
270(1)
Labor Markets in the Service Economy
271(8)
U.S. Employment in Services
271(1)
Characteristics of Services Labor Markets
272(7)
Financial Services
279(3)
Components of Financial Services
279(1)
The Regulation of Finance
280(2)
The Deregulation of Finance
282(1)
Sectoral Studies in Producer Services
282(5)
Accounting
282(1)
Design and Innovation
283(1)
Legal Services
284(3)
The Location of Producer Services
287(1)
Intraregional Trade in Producer Services and Development
288(1)
International Service Transactions
288(1)
Technological Change in Services
288(3)
Electronic Funds Transfer
291(1)
Offshore Banking
292(1)
Back-Office Relocations
293(2)
Consumer Services
295(1)
Tourism
296(1)
Summary
296(1)
Key Terms
297(1)
Suggested Readings
298(1)
Study Questions
298(1)
World Wide Web Sites
299(2)
Transportation and Communications
301(42)
Transportation Networks in Historical Perspective
302(6)
Cost-Space and Time-Space Convergence
308(1)
Transportation Infrastructure
309(1)
General Properties of Transport Costs
310(5)
Carrier Competition
311(1)
Loading and Packaging Costs
312(1)
Elasticity of Demand
312(1)
Freight Rate Variations and Traffic Characteristics
313(1)
Regimes for International Transportation
313(1)
Transit Time and Location
314(1)
Transport Improvements and Location
315(1)
Transportation Policy
315(3)
Deregulation and Privatization
315(1)
Deregulation of the U.S. Airlines
315(1)
Hub-and-Spoke Networks
316(2)
Transportation of Nuclear Wastes
318(1)
Personal Mobility in the United States
318(4)
Intelligent Vehicle Highway Systems
319(2)
Automatic Vehicle Identification
321(1)
High-Speed Trains and Magnetic Levitation
322(1)
Telecommunications
322(8)
Fiber-optic and Satellite Systems
324(4)
Telecommunications and Geography
328(2)
Geographies of the Internet
330(7)
Origins and Growth of the Internet
330(4)
Social and Spatial Discrepancies in Internet Access
334(1)
Social Implications of the Internet
334(1)
E-Commerce
335(1)
Electronic Data Interchange
336(1)
Future Impacts of Information Technologies
337(2)
Smart Cities
337(1)
Community-Based Applications
337(1)
Government
337(1)
Business
338(1)
Education
338(1)
Health Care
339(1)
Summary
339(1)
Suggested Readings
340(1)
Study Questions
340(1)
Key Terms
340(1)
World Wide Web Sites
341(2)
Cities and Urban Economies
343(42)
Cities in Historical Perspective
344(5)
The First Cities
344(1)
The Rise of the Modern City
345(4)
Central Places and Their Hinterlands
349(4)
Hinterlands
349(1)
Threshold and Range
349(1)
A Central Place Hierarchy
350(3)
Urban Economic Base Analysis
353(4)
Intraurban Spatial Organization
357(9)
The Residential Location Decision
357(1)
The Filtering Model of Housing
357(2)
Population Density Gradients
359(2)
The Concentric Ring Model
361(1)
The Sector and Multiple-Nuclei Models
362(1)
Applied Urban Geography
363(3)
Sprawling Metropolis: Patterns and Problems
366(5)
The Postwar Suburban Boom
366(2)
Out in the Exurbs
368(2)
Suburbanization and Inner-City Decline
370(1)
Gentrification
371(1)
Problems of the American City
371(4)
Urban Decay
372(1)
The Crisis of the Inner-City Ghetto
372(3)
Employment Mismatch
375(1)
Global Cities
375(6)
Restructuring and the Urban Hierarchy
376(5)
Summary
381(1)
Suggested Readings
382(1)
Study Questions
382(1)
Key Terms
382(1)
World Wide Web Sites
383(2)
International Trade and Investment
385(44)
International Trade
386(1)
Trade by Barter and Money
387(1)
Comparative Advantage
387(4)
Transport Costs and Comparative Advantage
389(1)
Heckscher-Ohlin Trade Theory
389(1)
Inadequacies of Trade Theories
390(1)
An Alternative Theory of International Trade and Transactions
390(1)
Fairness of Free Trade
390(1)
Worsening Terms of Trade
391(1)
Competitive Advantages of Nations
391(4)
Factor Conditions
395(1)
Demand Conditions
395(1)
Supporting Industries
395(1)
Firm Strategy, Structure, and Competition
395(1)
International Money and Capital Markets
395(1)
International Banking
396(1)
Euromarkets
396(1)
Financing International Trade
396(3)
Determining Exchange Rates
396(2)
Why Exchange Rates Fluctuate
398(1)
U.S. Trade Deficits
399(1)
Results of the U.S. Trade Deficit
399(1)
Capital Flows and Foreign Direct Investment
400(9)
Motivations for and Constraints to Foreign Direct Investment
402(1)
World Investment by Multinationals
402(2)
Investment by U.S. Multinationals in Foreign Countries
404(2)
Investment by Foreign Multinationals in the United States
406(3)
Effects of Foreign Direct Investment
409(1)
Barriers to International Trade and Investment
409(4)
Management Barriers
410(1)
Distance as a Barrier
410(1)
Government Barriers to Trade
410(1)
Tariffs, Quotas, and Nontariff Barriers
411(1)
Effects of Tariffs and Quotas
412(1)
Government Stimulants to Trade
413(1)
Reductions of Trade Barriers
413(5)
General Agreement on Tariffs and Trade
413(1)
World Trade Organization
414(1)
Closed Japanese Markets
415(1)
Government Barriers to Production-Factor Flows
415(1)
Multinational Economic Organizations
416(1)
International Financial Institutions
416(2)
Regional Economic Integration
418(6)
The European Union
419(1)
The EU's Single Currency
420(1)
U.S.-Canadian Free Trade Agreement
421(1)
North American Free Trade Agreement
421(1)
Canada and NAFTA
422(1)
OPEC
423(1)
Globalization and Business Cycles
424(1)
Summary
425(1)
Study Questions
426(1)
Key Terms
426(1)
World Wide Web Sites
427(1)
Suggested Readings
427(2)
International Trade Patterns
429(40)
Emerging Markets
432(2)
World Patterns of Trade
434(27)
The United States
434(5)
Canada
439(2)
The European Union
441(3)
Latin America
444(3)
Japan
447(3)
China
450(2)
Taiwan
452(1)
South Korea
453(2)
Australia
455(1)
India
455(2)
South Africa
457(1)
Russia
458(1)
The Middle East
458(3)
Major Global Trade Flows
461(5)
Microelectronics
461(1)
Automobiles
461(1)
Steel
462(1)
Textiles and Clothing
463(1)
Grains and Feed
464(1)
Nonoil Commodities
465(1)
Summary
466(1)
Key Terms
466(1)
World Wide Web Sites
467(1)
Suggested Readings
467(1)
Study Questions
467(2)
Development and Under-development in the Developing World
469(45)
What's in a Word? ``Developing''
470(15)
How Economic Development Is Measured
471(1)
GDP per Capita
471(1)
Economic Structure of the Labor Force
472(1)
Education and Literacy of a Population
472(3)
Health of a Population
475(3)
Consumer Goods Produced
478(1)
Urbanization in Developing Countries
478(7)
Human Development Index
485(1)
The Location of Underdevelopment
485(3)
Latin America
486(1)
Southeast Asia
486(1)
East Asia (excluding Japan)
487(1)
South Asia
487(1)
Middle East and North Africa
487(1)
Sub-Saharan Africa
487(1)
Characteristic Problems of Less Developed Countries
488(9)
Rapid Population Growth
488(1)
Unemployment and Underemployment
488(2)
Low Labor Productivity
490(1)
Lack of Capital and Investment
490(2)
Inadequate and Insufficient Technology
492(1)
Unequal Land Distribution
492(1)
Poor Terms of Trade
492(1)
Foreign Debt
492(3)
Restrictive Gender Roles
495(1)
Corrupt and Inefficient Governments
496(1)
Trends and Solutions
496(1)
Major Perspectives on Development
497(4)
Modernization Theory
497(2)
Dependency Theory
499(1)
World-Systems Theory
500(1)
Regional Disparities Within Developing Countries
501(1)
Development Strategies
502(2)
Expansion of Trade with Less Developed Countries
502(1)
Private Capital Flows to Less Developed Countries
502(1)
Foreign Aid from Advanced Nations
503(1)
Industrialization in the Developing World
504(7)
Import-Substitution Industrialization
505(1)
Export-Led Industrialization
505(1)
Consequences of Export-Led Industrialization for Women
506(1)
Sweatshops
507(1)
The East Asian Economic Miracle
507(4)
Summary
511(1)
Study Questions
512(1)
Key Terms
512(1)
World Wide Web Sites
513(1)
Suggested Readings
513(1)
Glossary 514(12)
References 526(7)
Index 533

Excerpts

The World Economy: Resources, Location, Trade, and Development,now in its fourth edition, offers a overview of the field of economic geography and its linkages to related issues of development and underdevelopment, international business, and the global economy. In an age of increasing globalization, an understanding of these issues is central to both liberal arts and professional educations, for the concerned voter to the engaged business practitioner. This work is designed as a comprehensive introduction to the ways in which economic activity is stretched over the space of the earth's surface. Economists too rarely take the spatial dimension seriously, a perspective that implies all economic activity occurs on the head of a pin. Geographers, in contrast, are interested in the manner in which social relations and activities occur unevenly over space, the ways in which local places and the global economy are intertwined, and the difference that location makes to how economic activity is organized. No social process occurs in exactly the same way in different places; thus, where and when economic activity occurs has a profound influence on how it occurs. Space, then, can no longer be relegated to the sidelines. As globalization has made small differences among places increasingly important, space has become more, not less, important. This new edition differs from the previous one in several respects. It has updated empirical data found throughout. Some traditional material has been trimmed to avoid making the volume overly long. In keeping with the disciplines growing concern for political and cultural issues, which recognizes that the economy cannot be treated separately from other domains of social activity, this volume offers more emphasis on the historical context and political economy of capitalism, including class and gender relations. Throughout, it synthesizes diverse perspectives--ranging from mainstream location theory to post-structuralism--to reveal capitalism as a profoundly complex, important, and fascinating set of social and spatial relations. Additions to the third edition include a new chapter on the historical development of capitalism from its feudal origins through colonialism and the industrial revolution. Like all social sciences, geography has become increasingly self-conscious about how it interprets and understands the world, that is, theory. Accordingly, this edition also collects the various aspects concerned with conceptual and theoretical matters and unites them. Thus, it explores issues ranging from the locational determinants of firms to the role of the state in shaping market economies. Additionally, it offers much more discussion about services, including the multiple reasons for the growth of the service economy, its labor market impacts, and the fundamental role played by telecommunications in the global services economy. Finally, it approaches international development in an intellectually critical manner, emphasizing multiple theoretical views concerned with the origins and operations of the global economy. Some students wrongly assume that economic geography is dominated by dry, dusty collections of facts and maps devoid of interpretation. This volume aims to show them wrong. Others are intimidated by economics, equating it with abstract and difficult supply and demand diagrams and mathematical equations. While this book uses both maps and some diagrams to make various points, it does not presume that the Student has an extensive background in economics. There are several forms of economics, including neoclassical views and political economy. The volume at hand uses both of these and other perspectives as well, in an attempt to raise the readers understanding to a level above that of the lay public but not to the degree of sophistication expected of an expert. In doing so, the book hopes to show that economic geography offers insights that make t


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