Industry and Post industry

What is a post-industrial economy?

A post-industrial economy is one motivated by Tertiary sector jobs. For example in the UK, 88% of the jobs are Tertiary and Quaternary jobs. Here the sectors shift from primary/secondary to Tertiary/Quaternary.

How has the UK developed due to this shift?

The UK has developed in 6 different sectors:

Information Technology:

• 1.3 million people work in the It area.

• The internet allows for worldwide communication

• Technology is rapidly expanding and the UK wants to be a leading country in the development of Technology.

Service Industries:

• 79% of the economy is lead by the service industry.

• Due to the UK being a HIC, the people can actually afford these services.

Finance:

• The UK is a world leader in finance, insurance and banking with London being the central fiance area for this.

• The finance area employs over 2 million people

Research:

• Over 60,000 high skilled workers are employed in this sector - which is growing.

• This often occurs in universities such as Cambridge, oxford or Manchester universities

Science parks:

• A congregation of science typed businesses and research styled businesses all on the same site.

• These parks employ over 75,000 people in the UK

Business parks:

• Similar to science parks but focused on economics and business.

• these are often located on the outskirts of urban areas.

Case Study: Cambridge Science Park

Why Cambridge is good for a science park:

• Directly linked to London through the M11

• Near to Standsted Airport

• located on a crossroad between the A10,A12, A1309 and the A428.

• Easily accessible with little congestion as it is located on the edge of a city/Cambridge.

• Located near trinity college which setup the science park in 1970.

• surrounded by highly skilled workers/students who are eager to get into work.

• 2 hour drive or 48 minute train journey from the largest working population in the UK, London. This speed encourages daily commuting.