Fugitive Industry: The Economics and Politics of Deindustrialization (Pacific Studies in Public Policy)

Akron, Detroit, Gary, Newark, Oakland, Youngstown - in the minds of many, these cities rightly or wrongly epitomize urban decay and despair. All have suffered from the effects of deindustrialization, or the problem of plants shutting down and moving or going out of business. Legislative efforts to restrict the mobility of plants are supported by a broad spectrum of organizations. But both the layman and the policymaker should look carefully behind the headlines and the emotional trauma that understandably accompany plant closings. "Fugitive Industry" convincingly demonstrates that holding industries captive will only increase the number of business failures. McKenzie explains the importance of capital mobility, underscores the fallacious reasoning behind proposed policy prescriptions, evaluates the competition between communities to attract new enterprises and jobs, and proposes effective private solutions to problems confronted by workers and communities affected when plants close their doors. A comprehensive assessment of past and present policy prescriptions and their effects, "Fugitive Industry" reformulates national, regional, and local industrial policy into a workable solution for all.