Industrial Location Theories Fetter Renner Rawstron Youtube Lecture Handouts

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Industrial Location Theories Fetter, Renner & Rawstron

Dr. Manishika Jain explains the industrial location theory by Fetter, Renner and Rawstron. The details of the theory - Basis, formulation, assumption, criticism are explained candidly in the video.

Fetter’S Theory

The idea was location of industry is governed by demand and consumption. He undertook production cost and transportation cost as one of the major reasons.

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Fetter’S Theory Image-1

Fetter’s Theory Image-1

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Fetter’S Theory Image-2

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Fetter’S Theory Image-3

Fetter’s Theory Image-3

Renner’S Theory

His work is written in book “World Economic Geography: An Introduction to Geonomics”

He identified six factors for the location of industries:

  • Capital

  • Transport

  • Raw material

  • Market

  • Power

  • Labour

He explained role of each factor and localization of industry

He also explained Disjunctive symbiosis, and Conjunctive symbiosis.

Rawstron’S Theory

His theory was based on geographical elements

He emphasized minimum cost as a major factor to determine location of industry

He calculated the expenditure on each element and then determined location at point of maximum profit

His two major principles were:

  • Principle of Physical Restriction

  • Principle of Economic Restriction

All industrial location theories are important as they provide a ground framework for the establishment of new industries and are also useful in locational analysis