Manufacturing
A cost-saving practice where a firm transfers parts of its internal operations to a third party
Outsourcing
The post World War II period of economic growth which included high labor unions with stable and full-time manufacturing employment that enabled mass consumption.
Fordism
Specific areas within a country's borders where business and trade laws are different from those in the rest of the country.
Special Economic Zones (SEZ)
The world's best known high-tech cluster settled in California.
Silicon Valley
The decline, sometimes complete disappearance of employment, in the manufacturing sector in the core's industrial center.
Deindustrialization
The rusting, abandonment of an industrial infrastructure after the decline of employment in manufacturing sectors.
Rust Belt
Investors valuation of companies in dollar terms, an indicator where investors think economic growth will be centered.
Market Capitalization
An industrial zone with special incentives to attract foreign investment to places where imported materials undergo processing or assembly before being re-exported.
Export Processing Zone (EPZ)
Firms of the same industry clustered together to lower costs when close interactions with clients and suppliers and a deep pool of highly skill labor are critical.
High-tech Cluster
The relocation of the manufacturing and support services from one country to another.
Offshoring
The man who was responsible for the economic growth which was Fordism.
Herny Ford
A period of corporate disinvestment where companies stop investing in factory construction, equipment, and improvement and began to sell of assets, such as machinery, buildings, and land.
Corporate Disinvestment
A specially designed duty-free area that provides warehousing, storage and distribution facilities for goods intended for trade or re-export.
Free-Trade Zones (FTZ)
The usage of robotics or computerized systems for tasks once performed by assembly line workers
Automation
Occur where first cluster spatially in order to take advantage of geographic concentrations of skilled labor and industry suppliers, specialized infrastructure, and ease labor and industry suppliers, specialized infrastructure, and ease of face-to-face contact with industry participants.
Agglomeration Economies
The three tactics that came together too fuel deindustrialization and move away from Fordism.
Corporate disinvestment, offshoring, and outsourcing.
Growth poles
The increase in the number of SEZs, EPZs, and FTZs are a result and a cause of
Interconnected and interdependent world economy.
The production of small batches of goods needed by customer demand.
Just-in-time-manufacturing
The creation of new business and jobs in other industries as the result of investment in a different industry
Multiplier Effects
The main two base industries that closed their factories after Deindustrialization took place.
Auto and steel.
The shifts from manufacturing centers to spatially dispersed production sites, from standardized mass production to specialized batch production, and from a permanent workforce to temporary employees and contract workers.
Post-Fordism
The spatial shift of manufacturing from developed countries to developing countries.
New international division of labor
An industry develops and uses the most advanced technologies available and has the highest levels of research and development.
High-technology industry
Geographically pinpointed center of economic activity organized around a designated industry commonly in the high-tech sector.
Growth Pole