In Historic San Francisco: A Concise History and Guide, Rand Richards says this “caused a ripple effect that led to the birth and rapid growth of many industries designed to service the miners and their needs,”. First, the Gold Rush brought a wealth of capital to the city-even if the gold was not physically in the city bounds. In the case of San Francisco, a couple key points demonstrate circular-cumulative economic patterns that promoted regional interaction. However, as Truman Hartshorn points out in his chapter “City Development: Theory and Practice,” high technology has reinvented industrial clusters, and therefore circular-cumulative processes have now taken on new contexts.
Allan Pred introduced this theory, mainly discussing it in terms of the manufacturing industries that dominated the greatest American cities of the late 19th and early 20th centuries.
Typically, the cities that have been able to sustain these cyclical industry growth patterns have fared better within their regions, and have therefore increased their regional interaction. Franchise affiliates also benefit from an association with the venerable Sotheby's auction house, established in 1744.Circular-cumulative causation theory states that a cyclical pattern of economic multipliers drives growth in an area: increased demand for goods and services brings new industry, which brings new families and new demands, and ultimately more new industry. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full franchise system. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. Sotheby's International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. About Sotheby’s International Realty Affiliates LLCįounded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world.
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