cyclical economic change Flashcards
Blythe
factory in NE
£100 mil invested in EV batteries
positive multiplier effect
booms and recessions
50 year cycle of growth and decline
new technology, innovation investment: boom
technology becomes outdated, job loss, stagnation: recession
differences economic change in rural vs urban
greater multiplier effect in rural areas
higher capacity to support technological innovation
difference between individual capacity to cope with boom and recession
more highly educated are more able to cope
non-essential industries e.g. res
Kondratieff cycles
waves of innovation
currently on the 6th wave focused on sustainability
3rd wave was global shift and outsourcing
uk investment in net zero
plans to invest £.14 trillion by 2050
ULEZ
ultra low emission zone
covers 380km2
6th wave of innovation examples
By 2030 ban sale of fuel cars
Subsidies for solar power
Incentives for electric cars
Why Silicon Valley is leading innovation
High levels of connectivity between leading education institutes, tech companies, highly trained workforce and venture capitalists
General Silicon Valley info
Contains 30companies in the fortune 1000
3rd largest GDP of any area globally
Stanford University
Meta, EBay, Netflix, Twitter etc
2007-2008 UK recession
Caused by the credit crunch (2007-2008) where global banking system became short of funds, leading to a decline in confidence and in bank lending
2020 UK recession
Lockdown due to pandemic
Leisure industry closed
Unemployment
Limited global trade due to border closing
400,000 and the number of people who were economically inactive rose by 327,000.
2020 UK recession: role of the government
