Week 6.docx - Week 6 Economics I: Growth & Development The...

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Week 6Economics I: Growth & DevelopmentThe city has always been a site of economic activity (opportunity and exploitation)Link between Urban Development and Urban economy always presentMedieval city (1400s)Modest sizeLimited productivity (crafts, trade, farming)Industrial city (1800s)Big and growingMassive productivity (machines, labor, distribution, land, buildings)Mumbai (pop. 18.4 million); similar to Manchester, EngelsVery densely built and populatedLow incomeUnder-the-table incomeHousing demand is highDomestic jobsNo open spaceInformally built with limited resource, objects found on streets: roofsOrder of mobility: Main streetOrder of building height2 story building: structural limit on how tall: too costly, not good enough materialsHong Kong (pop. 7.3 million)SpaceLOCATION!Are they all the same?Space costs money (real estate)Best LocationWhat makesbest?NearbyFurther awayDistance = $$$Only 1 best location? NoThe real estate industry has many participants, involved directly orindirectlyProperty owners, speculatorsLand developers, building developersLenders, realtors, lawyers, architects, engineersConsumersUrban plannerPoliticians, policy makersGrowth Machine urban theory (Molotch)
Growth = primary driver of urban changePolitical “machine” concept

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Term
Summer
Professor
Agarwal
Tags
Urban studies and planning, Urban decay, Businesses, Big

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