¶ … Large scale restructuring has taken place in major urban centers of the worldthat included London, Singapore, San Francisco, Vancouver, and may more. 'Inner city' assumes much importance in the regional economics as the impact of globalization and rapid transformation in land use occur at inner parts of these cosmopolitan cities. "The New Economy of the Inner City: Restructuring, Regeneration and Dislocation in the 21st Century Metropolis" by Thomas A. Hutton addresses the critical issues of place and process in the development of 'new economies' in postindustrial cities. Thesis agenda of the book asserts that restructuring initiatives in cosmopolitan cities, specifically London, have enabled the emergence of creative enterprises in the 'new inner city' and thus has dislocated traditional industrial and manufacturing oriented regional economy (Hutton, 2009). Urbanization, migration, policy shifts in land use, restructuring initiatives, clustering of industries, and change in production-consumption has transformed the 'inner city economy'. The book is an original scholarly endeavor to unmask the policy limitation displayed by strategies of policy making institutions regarding urban economic and geographic development.
The main subjects being discussed are evolution of urban economy, shift in land use of metropolitan core of London as well as other restructured city economies, impact of capital and land use on labor market, and dislocation of traditional production system of 'inner city' areas. While discussing the 'inner city' industrial transformation of London, the book cites model studies on important restructuring initiatives in other cosmopolitan cities of the world. The overall purpose of this publication is to emphasize the role of technology and its role in creating a 'new economy' in postindustrial cities and how it has transformed land use, labor market, introduced specialized intermediate service industry, and dislocated the manufacturing industries. The book is a scholarly endeavor, incorporating primary as well as secondary materials along with critical analysis that will help researchers and practitioners in the fields of regional economics, urban studies, economic geography, and economic development policy.
Relevance and significance of materials used
The author has used exemplary case studies and conducted interviews with authors of exemplary studies, performed sequential exercises, and extensive mapping of the geographical areas under investigation. Rich narratives of industrial innovation were used to generalize the dynamics of regional economics within the context of 'new inner city' economies. 21st century urbanization induced by land use factors and technology innovation application in manufacturing and services sector has specifically been emphasized. The secondary materials used in the study also include figures and tables reproduced from original transcripts of those resources. These included graphical and tabular representation of factors of production in all the geographical areas being discussed, specifically the central London and generally those of San Francisco, Florence, Singapore, and Vancouver. Researchers such as Scott (2006) have also investigated 'inner city' development.
The socio-economic impacts that are impact the 'inner-cities' of major cosmopolitan cities are also extensively described through both textual as well as graphical representation. The economic geography of industrial districts has been described by critical analysis of primary research studies that were conducted by eminent scholars in the fields if regional economics, economic geography, and urban studies. The author has also cited empirical insights from the exemplary studies being conducted in the other cities. The theoretical conjecture of these studies along with their findings and implication of these findings have also been reported in the book. The acknowledgments that the author has provided in initial part of the book also describe the extensive interaction that was undertaken with scholars of regional economic but also with planning departments of cities whose case studies have been cited as examples.
Issues being raised
The principle motive of the study has been to conduct a systematic analysis of implications of new industry development in inner cities, specifically London. The semiotic features of land, development of agglomeration economies, policy shift by institutions has led to great impact on regional...
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