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Economy of Urcea: Difference between revisions
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Due to Urcea's very large population, housing is always a highly sought-after commodity. This, combined with Urcean social preferences for and beliefs about the benefit of relatively lower-density and single-family housing, has created a massive real estate industry. | Due to Urcea's very large population, housing is always a highly sought-after commodity. This, combined with Urcean social preferences for and beliefs about the benefit of relatively lower-density and single-family housing, has created a massive real estate industry. | ||
===Construction=== | ===Construction=== | ||
Urcea's lower-density housing and large housing need created a massive construction boom in the mid-20th century, as the advent of the car provided for the construction of sweeping suburbs throughout [[The Valley (Urcea)|the Valley]] and other parts of the country. Between [[1950]] and [[1990]], construction was one of the country's largest industries. By [[1995]], however, suburban homes and apartments had been built in such a way that far outstripped need at the time, leading to a major construction bubble collapse in the late 1990s. After the | Urcea's lower-density housing and large housing need created a massive construction boom in the mid-20th century, as the advent of the car provided for the construction of sweeping suburbs throughout [[The Valley (Urcea)|the Valley]] and other parts of the country. Between [[1950]] and [[1990]], construction was one of the country's largest industries. By [[1995]], however, suburban homes and apartments had been built in such a way that far outstripped need at the time, leading to a major construction bubble collapse in the late 1990s. After the [[Family Living Act of 2003]], the construction of new major-scale suburbs in the Valley essentially became illegal, and the construction industry was forced to downsize and coalesce as a new focus emerged on smaller [[Housing_in_Urcea#Exurban|exurban developments]] and the [[Housing_in_Urcea#Urban_town_and_country|urban town and country]] design. Construction remains a major Urcean industry in the 21st century, but is significantly smaller than its late-20th century peak. The sector received a massive boost in the mid-2010s as the need for new nuclear power plants and the associated infrastructure swept the country; as this infrastructure was completed by the early 2020s, the boom receded; most economists have stated the construction recession is "stable" and avoided a bubble burst at that period due to lessons learned in the 1990s. | ||
===Finance=== | ===Finance=== | ||
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===Energy=== | ===Energy=== | ||
The energy sector in Urcea has been one of the fastest growing and most robust sectors of the economy since the beginning of [[The Deluge|the Deluge]]. | The energy sector in Urcea has been one of the fastest growing and most robust sectors of the economy since the beginning of [[The Deluge|the Deluge]]. Brought on by regulatory changes allowing mass construction of nuclear energy facilities combined with cheap and plentiful {{wp|uranium}} and {{wp|thorium}} from [[New Harren]], Urcea underwent massive economic transformation as the country transitioned from traditional fossil fuels to a nuclear-based electric economy. Accordingly, the energy sector is viewed today as one of the most distinguishing aspects of Urcea's economy, as electric energy is available for far cheaper than most other places abroad, and the plentiful transmission lines and new transmission infrastructure makes energy easily available throughout most of the country. | ||
===Others=== | ===Others=== | ||
====Railways==== | ====Railways==== | ||
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==Regional differences== | ==Regional differences== | ||
The economy of Urcea is varied and cannot be understood without taking | The economy of Urcea is varied and cannot be understood without taking regional differences into account. | ||
===The Valley and Ionia=== | ===The Valley and Ionia=== | ||
{{Further|The Valley (Urcea)|Ionian Plateau}} | {{Further|The Valley (Urcea)|Ionian Plateau}} | ||
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Urcea's trade relations are significantly focused on countries in Levantia owing to the lack of tariffs within the [[Levantine Union]], though trade agreements between Urcea and other countries, such as [[Kiravia]], have been growing more prevalent in the 21st century. | Urcea's trade relations are significantly focused on countries in Levantia owing to the lack of tariffs within the [[Levantine Union]], though trade agreements between Urcea and other countries, such as [[Kiravia]], have been growing more prevalent in the 21st century. | ||
Although Urcea's major trade partners are within the Levantine Union, it conducts a large amount of overseas trade. Urcea's shipping industry is one of the largest in the world, and foreign trade with Crona, Sarpedon, and other partners have greatly enhanced the shipping and air freight industries. Urcean economic interests in Crona have | Although Urcea's major trade partners are within the Levantine Union, it conducts a large amount of overseas trade. Urcea's shipping industry is one of the largest in the world, and foreign trade with Crona, Sarpedon, and other partners have greatly enhanced the shipping and air freight industries. Urcean economic interests in Crona have led to greater trade across the Levantine Ocean, with a particular emphasis on new markets in [[New Harren]], which serves as a hub for trade goods in the eastern hemisphere and a gateway for goods to flood back to Levantia. Urcea traditionally suffered a fairly large trade deficit mostly reliant on exporting food and other goods to [[Sarpedon]], but with the rise of the [[Nysdra Sea Treaty Association]] and development of markets in [[Crona]] - in addition to increased trade with [[Caphiria]] - the nation has enjoyed a trade surplus fairly regularly since [[2014]]. | ||
==Business culture== | ==Business culture== | ||
Urcean society exhibits a unique business culture due to a number of different social traditions and institutions, including and especially the [[Catholic Church]] and [[Guilds (Urcea)|guild]] system. Many cultural observers have noted a high level of "democratization" of the Urcean economy based on both regulatory climate and social expectations. Industry-spanning megacorporations are generally considered to be difficult to form in Urcea for these reasons. Instead, scholars note that corporate leaders tend to focus on very long-term planning and possible innovation rather than competitive domination and cornering markets. The regulatory and social systems that dominate Urcean economic life are viewed, outside of Urcea, as being cumbersome and daunting, and accordingly most foreign capital prefer to operate entirely within the context of Urcean-operated companies due to familiarity with the various institutions governing commerce. | Urcean society exhibits a unique business culture due to a number of different social traditions and institutions, including and especially the [[Catholic Church]] and [[Guilds (Urcea)|guild]] system. Many cultural observers have noted a high level of "democratization" of the Urcean economy based on both regulatory climate and social expectations. Industry-spanning megacorporations are generally considered to be difficult to form in Urcea for these reasons. Instead, scholars note that corporate leaders tend to focus on very long-term planning and possible innovation rather than competitive domination and cornering markets. The regulatory and social systems that dominate Urcean economic life are viewed, outside of Urcea, as being cumbersome and daunting, and accordingly most foreign capital prefer to operate entirely within the context of Urcean-operated companies due to familiarity with the various institutions governing commerce. | ||
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===Degree of regulation=== | ===Degree of regulation=== | ||
==See also== | |||
[[Category: IXWB]] | *[[List of Urcean companies]] | ||
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[[Category: Urcea]] | [[Category: Urcea]] | ||
[[Category: Economy]] | [[Category: Economy]] | ||
[[Category:Economy of Urcea]] | |||