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What this episode covers
- The four economic sectors: primary, secondary, tertiary, quaternary
- Weber's Least Cost Theory — transportation costs, labor costs, agglomeration
- Rostow's five stages of economic growth — and criticisms
- Core-periphery model and world-systems theory (Wallerstein)
- Dependency theory vs. modernization theory
- Deindustrialization — causes, consequences, and the Rust Belt example
- Special economic zones (SEZs) and export processing zones
- Measures of development: GDP, GNP, HDI, GII, Gini coefficient
- Globalization and global supply chains
- Multinational corporations and foreign direct investment
- Sustainable development, microfinance, and fair trade