Social Sciences and History / Unit 12 SSH 1113 short lesson, about 20 seconds
Deindustrialization and Footloose Capital
Captions available
The idea
Deindustrialization is the shift from a manufacturing-based economy to one based on other activities; it follows competition's relentless pressure to cut costs, which pushes industry toward cheaper labor and materials and more customers. Footloose capitalism is the spatial flexibility that lets production move.
In practice
Output up, factory jobs flat, through automation.
Where people slip
The gig economy: freelance work replacing permanent jobs.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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