economic block

Question 1

L1 - what are the 3 perspectives of economies and their views.

Answer 1

Hyperglobalist – hyper view of globalisation. deregulation in the 1970s, dominance of MNCs and global finance. single global economy. ‘end of geography’ distance and location no longer matter.
linked to neoliberalism - free makrets will spread wealth and prosoerity, reduced state involvement, promote pro business environment.

Sceptics – don’t believe in globalisation.
sceptical internationalists - believe globalisation is a myth, neo liberal discoure. Want ‘home nation’ based. globalisation and free makrets lead to inequality and uneven development(link to global north v south). believ markets can be controlled? 2008 crisis exemplified these needs, banks had to look to governments for help to build economy back up. therfore after became harder to borrow money as new laws were put in place. state regulation therfore nessecary and important.

Trans – qualitative shift
Transformationalist - longer term process, but recognition of recent qualitative shift in relations between states, corporations and places. (eg transnational now)
shallow integration to deeper integration (shallow = not as integrated, a fluid process and can changeover time)
regects homogeneity, realising globalization is an uneven and complex process creating new inequalties and differences. new government structures can shaoe gobalisation > one hand = homogeneity = difference in equalitiy
other hand = inequality is combined as

Question 2

L1 - what is functional integration

Answer 2

Functional integration – function, function of production = to produce them, the steps are spread world wide. But need to be brought together and integrated to create final product.
is in line with a global free market ideology as goods are exchanges in exports and imports - making a network between countries. It is cheaper and more effective now to buy in parts of a product from overseas, rather than manufacter that product in the home country - not cost effective.

Question 3

L1 - what is Contemporary economic production

Answer 3

we cannot say that a product is solely produced in only one place. Say they are transnational products.

Question 4

what is deregulation?

Answer 4

a removal of barriers creating an open economy with decreased tariffs and regulations.

Question 5

what are contemporary processes of globalisation?

Answer 5

contemporary processes means ??

Question 6

us trade war?? L1

Question 7

Summary
what was the qualitiative change in geo-economy from the 1970s
continuium of theoritcal perspectives,

Question 8

L2 - the global production system (fordism)

Question 9

L2 - define fordism

Answer 9

rise and fall of fordism
- origins = later19th,early 20th century more organised forms of production, management and devision of labour(DoL)
named after henry ford - had a high volume of demand and production
economies of scale - producing enough of one standerdised product, buying in bulk meant cheaper price for consumer =more products sold.

Question 10

L2 - what does a post fordist world look like?

Answer 10

unions have less power
lower wages and poorer working conditions

Question 11

L2 - how does fordism link to concepts of global - local?
- interrelations between logbal - local scales in the 21st century GPS

Question 12

L2 - understanding the changing nature of the global production system (GPS)