Friction of Distance
the increase in time and cost that usually comes with increasing distance
begun about 1760 in England and later in other countries, characterized chiefly by the replacement of hand tools with power-driven machines, as the power loom and the steam engine, and by the concentration of industry in large establishments.
the stock of basic facilities and capital equipment needed for the functioning of a country or area
Least cost theory
Model developed by Alfred Weber according to which the location of manufacturing establishments is determined by the minimization of three critical expenses: labor, transportation, and agglomeration.
Industries that manufacture goods made from the raw materials provided by the primary sector
Principle that maintains that the correct location of a production facility is where the net profit is the greatest. Therefore in industry, there is a tendency to substitute one factor of production (e.g., labor) for another (e.g., capital for automated equipment) in order to achieve optimum plant location.
a cost that rises or falls depending on how much is produced
a logical attempt to explore the location pattern of an economic activity
Place where goods are transferred from one form of transport to another. This frequently involves the goods being repackaged into smaller quantities ready for individual users.
the ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers.
a metropolitan area given official health to strengthen its economic development
Factories built by US companies in Mexico near the US border to take advantage of much lower labor costs in Mexico.
North American Free Trade Agreement; allows open trade with US, Mexico, and Canada
Primary industrial region
the result of mapped industrial concentrations (West and Central Europe, Eastern and North America, Russia, Ukraine, and East Asia)
Secondary industrial region
regions that consist of one or more core areas of industrial development with subsidiary cluster some distance away
Special Economic zone
specific area to attract foreign investment that has special tax incentives
the notion that as one region or state expands in economic prosperity, it must engulf regions nearby to ensure ongoing economic and political success. The area of high growth becomes known as the core, and the neighboring area is the periphery. Cores and peripheries may be towns, cities, states, or nations
regions that dominate trade, control the most advanced technologies, and have high levels of productivity within diversified economics
a model of economic and social development that explains global inequality in terms of the historical exploitation of poor nations by rich ones
those countries having much technology and manufacturing
a country that has low industrial production and little modern technology
the act of making some area of land or water more profitable or productive or useful
Gross nation product
former measure of the United States economy
A general term for economic development models which assume that (1) all countries are capable of developing economically in the same way and (2) economic disparities between countries and regions are the result of short-term inefficiencies in local or regional market forces.
A model of economic development most closely associated with the work of economist Walter Rostow. The modernization model (sometimes referred to as modernization theory) maintains that all countries go through five interrelated stages of development, which culminate in an economic state of self-sustained economic growth and high levels of mass consumption.
is a term used by post-colonial critics of developed countries' involvement in the developing world. Writings within the theoretical framework of neocolonialism argue that existing or past international economic arrangements created by former colonial powers were or are used to maintain control of their former colonies and dependencies after the colonial independence movements of the post-World War II period.
The least powerful regions and therefore are often marginalized or under the control of both semi-peripheral regions and core regions
the industrializing, mostly capitalist countries which are positioned between the periphery and core countries. Semi-periphery countries have organizational characteristics of both core countries and periphery countries and are often geographically located between core and peripheral regions as well as between two or more competing core regions. Semi-periphery regions play a major role in mediating economic, political, and social activities that link core and peripheral areas.
A general term for models of economic development that treat economic disparities among countries or regions as the result of historically derived power relations within the global economic system.
World system theory
economic and political connections that tie the world's countries together
The trend toward increased cultural and economic connectedness between people, businesses, and organizations throughout the world.
principles for mass production based on assembly-line techniques, scientific management, mass consumption based on higher wages, and sophisticated advertising techniques
Foreign direct investment
Investment made by a foreign company in the economy of another country.
areas in which very high amounts of technology are condensed
Manufacturing export zones
host country establishes areas with favorable tax and trade arrangements in order to attract foreign manufacturing operations
New international division of labor
Transfer of some types of jobs, especially those requiring low-paid less skilled workers, from more developed to less developed countries.
Centers or nodes of high-technology research and activity around which a high-technology corridor is sometimes established.
the social and psychological effects of living in a world in which time-space convergence has rapidly reached a high level of intensity
The convergence (in one of the senses presented below) of sequences of random variables to some limit random variable is an important concept in probability theory, and its applications to statistics and stochastic processes