Concept
Deindustrialization
Related concepts (12)
Three-sector model
The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and service industries which exist to facilitate the transport, distribution and sale of goods produced in the secondary sector (tertiary). The model was developed by Allan Fisher, Colin Clark, and Jean Fourastié in the first half of the 20th century, and is a representation of an industrial economy. It has been criticised as inappropriate as a representation of the economy in the 21st century.
History of Detroit
Detroit, the largest city in the state of Michigan, was settled in 1701 by French colonists. It is the first European settlement above tidewater in North America., p. 56. Founded as a New France fur trading post, it began to expand during the 19th century with American settlement around the Great Lakes. By 1920, based on the booming auto industry and immigration, it became a world-class industrial powerhouse and the fourth-largest city in the United States. It held that standing through the mid-20th century.
Urban decay
Urban decay (also known as urban rot, urban death or urban blight) is the sociological process by which a previously functioning city, or part of a city, falls into disrepair and decrepitude. There is no single process that leads to urban decay. Urban decay can include the following aspects: Industrialization Deindustrialization Gentrification Population decline or overpopulation Counterurbanization Economic Restructuring Multiculturalism Abandoned buildings or infrastructure High local unemployment Increased poverty Fragmented families Low overall living standards or quality of life Political disenfranchisement Crime (e.
Structural unemployment
Structural unemployment is a form of involuntary unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers (also known as the skills gap). Structural unemployment is often brought about by technological changes that make the job skills of many workers obsolete. Structural unemployment is one of three categories of unemployment distinguished by economists, the others being frictional unemployment and cyclical unemployment.
Shrinking city
Shrinking cities or urban depopulation are dense cities that have experienced a notable population loss. Emigration (migration from a place) is a common reason for city shrinkage. Since the infrastructure of such cities was built to support a larger population, its maintenance can become a serious concern. A related phenomenon is counterurbanization. The phenomenon of shrinking cities generally refers to a metropolitan area that experiences significant population loss in a short period of time.
Great Divergence
The Great Divergence or European miracle is the socioeconomic shift in which the Western world (i.e. Western Europe and the parts of the New World where its people became the dominant populations) overcame pre-modern growth constraints and emerged during the 19th century as the most powerful and wealthy world civilizations, eclipsing previously dominant or comparable civilizations from the Middle East and Asia such as the Ottoman Empire, Mughal India, Safavid Iran, Qing China and Tokugawa Japan, among others.
Employment
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties.
Steady-state economy
A steady-state economy is an economy made up of a constant stock of physical wealth (capital) and a constant population size. In effect, such an economy does not grow in the course of time. The term usually refers to the national economy of a particular country, but it is also applicable to the economic system of a city, a region, or the entire world. Early in the history of economic thought, classical economist Adam Smith of the 18th century developed the concept of a stationary state of an economy: Smith believed that any national economy in the world would sooner or later settle in a final state of stationarity.
Industrial Revolution
The Industrial Revolution, also known as the First Industrial Revolution, was a period of global transition of human economy towards more efficient and stable manufacturing processes that succeeded the Agricultural Revolution, starting from Great Britain, continental Europe, and the United States, that occurred during the period from around 1760 to about 1820–1840. This transition included going from hand production methods to machines; new chemical manufacturing and iron production processes; the increasing use of water power and steam power; the development of machine tools; and the rise of the mechanized factory system.
Unemployment
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period. Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed).