Economic restructuring refers to the phenomenon of Western urban areas shifting from a manufacturing to a service sector economic base. This transformation has affected demographics including income distribution, employment, and social hierarchy; institutional arrangements including the growth of the corporate complex, specialized producer services, capital mobility, informal economy, nonstandard work, and public outlays; as well as geographic spacing including the rise of world cities, spatial mismatch, and metropolitan growth differentials.
Read more about Economic Restructuring: Demographic Impact, Institutional Arrangements, Geographic Impact, Meaning
Famous quotes containing the word economic:
“Freedom is the by-product of economic surplus.”
—Aneurin Bevan (1897–1960)