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Geography A Level Content > 2.1.6 The Twenty-First Century Knowledge Economy and its Social and Economic Impacts > Flashcards

2.1.6 The Twenty-First Century Knowledge Economy and its Social and Economic Impacts Flashcards

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1
Q

What is the quaternary economy?

A
  • Forms the major activity of the 5th Kondratiev wave
  • Characterised by the rise of communication and computer/information technologies
  • Clustering occurs and it is happening in cities
  • Lots of intra-industry spill overs
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2
Q

What is the knowledge economy?

A

Innovation

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3
Q

What are Knowledge Intensive Business Services (KIBS)?

A
  • Highly localised despite ICT systems
  • In city centres
  • 50% of KIBS jobs are taken by graduates
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4
Q

What is the digital economy?

A

Includes ICT (software development, broadband networks, hardware, software, sales, marketing) and digital content (digital media, publishing, design, music, advertising)

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5
Q

What are the creative industries?

A

Includes product design, software development, broadcasting, advertising, libraries, museums

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6
Q

What is biotechnology?

A

Includes medical research, legal, accountancy and management consultancy

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7
Q

What are unicorns?

A

Companies that have recently started but are now worth over $1 billion

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8
Q

What is a patent?

A

The legal right to an invention

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9
Q

Where is Silicon Valley?

A
  • Between San Francisco and San Jose
  • Extends the length of the Santa Clara Valley in Northern California
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10
Q

How have triggers given rise to the growth of the knowledge economy in the valley?

A
  • Pre 1940s, radio enthusiasts were attracted to the area due to the Mediterranean climate and cheap property prices
  • Hewlett Packard located in Paulo Alto where they developed oscillators
  • This triggered people to follow
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11
Q

How have universities given rise to the growth of the knowledge economy in the valley?

A
  • Stanford, Berkley, Caltech
  • Research professors and students are a constant source of inspiration and have spawned many companies
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12
Q

How have inspirational individuals given rise to the growth of the knowledge economy in the valley?

A
  • Terman (dean of engineering at Stanford) set up Stanford Industrial Park where 150 firms are
  • Shockley set up a laboratory and associates made semi-conductors/silicon chips (which late become Intel) when they broke away
  • Brin and Page (former Stanford students) set up Yahoo and Google in 1998
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13
Q

How has the family tree of companies given rise to the growth of the knowledge economy in the valley?

A
  • A company called Fair child was a parent company of Apple, Cisco etc.
  • Google, Yahoo, eBay and Netscape piggybacked on growing power of hardware from these companies
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14
Q

How have military needs given rise to the growth of the knowledge economy in the valley?

A
  • World War 2 Ames Research Centre is at Moffett
  • Among the first computers developed in the world
  • Same site evolved into an air force and NASA base
  • Google and government share the site
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15
Q

How have young entrepreneurs given rise to the growth of the knowledge economy in the valley?

A
  • Highly skilled graduates refuse to leave the area
  • Many have set up their own companies
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16
Q

How has the inertia of young talent given rise to the growth of the knowledge economy in the valley?

A
  • Highly skilled, talented, young graduates refuse to leave the area
  • Companies have to locate there then to attract them
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17
Q

How has the transport provision given rise to the growth of the knowledge economy in the valley?

A
  • Regionally and internationally interconnected
  • Freeway 101, Caltrain and 3 airports (San Francisco International Airport, Oakland International and Mineta San Jose)
  • San Carlos is a small airport for wealthy entrepreneurs
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18
Q

How has the ability of firms to recruit talent from around the world given rise to the growth of the knowledge economy in the valley?

A
  • Talent is attracted to area by increasingly diverse amenities, restaurants and social provision available
  • Not only employment
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19
Q

How have takeovers given rise to the growth of the knowledge economy in the valley?

A
  • Another means for firms to get larger
  • Google aquired Youtube
20
Q

How have other organisations moving to the Bay area given rise to the growth of the knowledge economy in the valley?

A
  • Tesla and Airbus moved into area
  • Due to the availability of software engineers that they needed
21
Q

What is agglomeration?

A

Similar firms locating near each other

22
Q

What are economies of agglomeration?

A

The benefits that firms obtain from locating near each other
E.g. Decreases costs of production, attract more suppliers and customers

23
Q

What are the social advantages to agglomeration of the quaternary computer sector in Silicon Valley?

A
  • Excellent higher education (as quality students and researchers are attracted)
  • A cosmopolitan society
  • Companies provide their own transport so there are more flexible working patterns
  • Most qualified tech graduates in the world
  • High levels of highly qualified posts for women as there is gender and minority progression
24
Q

What are the economic advantages to agglomeration of the quaternary computer sector in Silicon Valley?

A
  • Hyper-speed broadband
  • Landlords can raise prices/rents above inflatin
  • Develoeprs building as fast as possible due to guarenteed profits
  • Benefits transfer of ideas and career progression due to shared labour pools and ideas from universities
  • Value placed on spin-offs and new entreprenurial ventures
  • Rise of the electric car industry (e.g. Tesla)
  • Potential to poach quality staff from competition (knowledge spillover)
25
Q

What are the environmental advantages to agglomeration of the quaternary computer sector in Silicon Valley?

A
  • Inventing new emission free technology
  • Environmental awareness is widespread
  • High levels of hybrid car ownership
26
Q

What are the social disadvantages to agglomeration of the quaternary computer sector in Silicon Valley?

A
  • Congestion
  • Overloaded transport system
  • Demand for housing, schools and facilities for young families
  • Older residents may feel that the places they grew up are being destroyed
  • Difficulty for public service workers to be recruited due to cost of living being too high
27
Q

What are the economic disadvantages to agglomeration of the quaternary computer sector in Silicon Valley?

A
  • Companies will compete for workers and ideas
  • Weaker companies will be put out of business
  • Maintaining infrastructure for a large population is expensive
  • High property prices so employees are forced to live further away where it is cheaper
28
Q

What are the environmental disadvantages to agglomeration of the quaternary computer sector in Silicon Valley?

A
  • High levels of pollution due to it being a high pressure climate
  • Water supply issues due to high demand
  • The space to build is rapidly decreasing so movement is forced onto protected land (urban sprawl)
29
Q

What is the location of Silicon Roundabout?

A
  • Concentrated around Old Street roundabout, East London
  • In Shoreditch
30
Q

What are the characteristics of Silicon roundabout?

A
  • Young and diverse area seen as attractive to cosmopolitan youth from around the UK and world
  • 2000 start ups per year
  • Old warehouses and factories converted to office space
  • 300,000 work in digital economy within 5 miles of Old Street roundabout
  • Second biggest concentration of digital industry after Silicon Valley
  • On the Fringe of CBD
  • Land is cheaper
  • More culturally diverse
  • More informal working spaces preferred
  • Government rebranded it ‘Tech City’
31
Q

What is a tech start up?

A

An early stage digital business

32
Q

What is the locational spread of new start ups across inner London?

A
  • 1001-1800 start ups in 2013 in Tech City, Canary Wharf, Holborn, Mayfair and Soho
  • 3228 tech firms per sq km in Silicon roundabout compared to the London average of 58 and the UK average of 1-2
33
Q

What are the factors that led to the growth and location of London Tech City?

A
  • Higher broadband speeds than other parts of Central London
  • Connectivity to the rest of London and the UK
  • Proximity to Central London and the City (which is the marketplace for innovations and the source of finance)
  • Renting of floor space is far cheaper than in the CBD
  • Branding and messaging have made entrepreneurs and financiers aware of new activities
  • Complementary firms have clustered in the area and make use of incubator space
  • Amenities of the area cater for the new workforce (e.g. cafe culture)
  • Visa requirements were relaxed for tech graduates
34
Q

What are the advantages of Silicon roundabout for Shoreditch?

A
  • 300,000 jobs in digital businesses
  • Diversity and cultural exchange
  • Increased investment
  • Smart city with green initiatives
35
Q

What are the disadvantages of Silicon roundabout for Shoreditch?

A
  • Rent doubled between 2011 and 2013
  • Gentrification and loss of local culture
  • Displacement of local businesses
  • Social inequality
  • Increased pollution
  • Loss of green space
36
Q

How can students gentrify an area such as Swansea?

A
  • Have a budget of £205 million with a student population of 13,000 and on campus accommodation for 3,400
  • May become involved in new start up businesses in the knowledge economy
  • Stay in the area of graduation
  • Live in privately rented houses
  • Uplands and Brynmill have been gentrified
37
Q

What is a science park?

A

A purpose built clustered development designed to support research and development in science and tech

38
Q

What is Cambridge Science Park?

A
  • Founded in 1970 by Trinity College
  • Oldest science park in the UK
  • Most businesses are biotech or technology (premier biomedical science hub in the world)
  • Strong links with Cambridge University
  • 100 companies
39
Q

How have Cambridge and the Cambridge Science Park benefitted each other?

A
  • Economic growth as jobs are created and tech companies boosted local economy
  • Collaboration between academia and industry
  • Knowledge transfer between companies
  • Improved infrastructure (e.g. Trainline to London, M11, Stanstead Airport, modern labs)
  • Attract and retain graduates
  • Good reputation
40
Q

What is digital exclusion?

A

A lack of access to use the internet (often combines with low educational achievement and relative poverty)

41
Q

What are places that are very digitally excluded in the UK?

A
  • Northumberland
  • Scottish highlands
42
Q

What are places that are digitally well connected in the UK?

A
  • London
  • Manchester
  • Cambridge
  • Edinburgh
43
Q

Which areas and groups are at risk from digital exclusion?

A

Rural:
- 11% of people in Wales are digitally excluded and most of them are in rural areas

Older people:
- Only 40% of over 75s use the internet compared to 97% of 16-49s
- Due to differences in motivation, digital literacy and trust

Low income:
- 21% of disabled people are digitally excluded
- 25% of those are on housing benefits

44
Q

How bad is digital exclusion in Wales?

A
  • 300,000 people in Wales aren’t online
  • Only 53% of people with no qualifications use the internet
45
Q

How may digital exclusion impact people’s lives?

A
  • Limited access to information
  • Employment barriers (online applications)
  • Social isolation
  • Poor healthcare access (booking appointments and online information)
  • Economic inequality
  • Educational gaps
  • No access to online banking which is needed as high street banks are closing
46
Q

What has been done in Wales to improve digital inclusion?

A
  • Welsh government funded 4 initiatives
  • Government s et up the Digital Inclusion charter to support organisations who are willing to promote digital skills and help people get online through 6 key pledges
  • Investment in superfast broadband
  • Community hubs with computers and internet in libraries
  • Supported school by enhancing digital literacy programs and donating laptops
  • Ongoing research and evalusation
  • Provided free WiFi
47
Q

What are the initiatives that the Welsh government has funded?

A
  • Communites@One provided funding as support to community organisations to help them purchase digital equipment (2005-2009)
  • Communites 2.0 support 1520 enterprises/community organisations which worked with digitally excluded people (2009-2015)
  • Digital Communities Wales supported organisations in digital inclusion and recruited digital volunteers to pass on skills (2015-2019)
  • Digital Communities Wales - Digital Confidence, Health and Wellbeing helped people increase their confidence with technology to suit their personal lives

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