The dramatic shifts in heartland regional economies in the U.S. and otheradvanced industrial countries have thrown into question the ability of capitalistdevelopment to produce permanent growth, economic well being, and balanced regionaldevelopment. This book develops a theory that radically reconceptualizes theeconomic forces producing regional change and tests it empirically for a set offifteen sectors in the U.S. It offers a pioneering approach which should enableplanners and managers to better cope with baffling changes in the current economicviability of regions.Traditional theories of regional development have failed toaccount for innovation and longrun structural change. They have ignored the role ofcorporate strategy and the existence of market power. Markusen's "profit-cycletheory" provides a key to understanding how, why, and when a region's leadingindustries undergo major changes. The theory is synthetic, building uponSchumpeterian and Marxist work on innovation and capitalist dynamics, upon theproduct cycle theories of business economists, and upon theories of oligopolisticbehavior. Markusen argues that changing sources of profitability along an industry'sevolutionary path will first concentrate and later disperse productiongeographically, setting in motion a methodically destabilizing process for regionaleconomies.The profit-cycle theory is tested in depth against the steel sector'sexperience over a century, and against the experiences of sectors in differentstages of development, ranging from innovative ones like semiconductors andcomputers, to mature and troubled sectors like automobiles, textiles, and lumber.The temporal and crosssectional data drawn from the census of manufactures supportthe theory and its spatial hypotheses. In a final chapter Markusen explores theimplications of the research for regional development.Ann Markusen is AssistantProfessor, Department of City and Regional Planning, University of California, Berkeley.
About the Author :
Ann R Markusen has contributed to Profit Cycles, Oligopoly, and Regional Development as an author.
Markusen-Prof of public policy, Humphrey Inst, Univ of Minnesota.
|Title:||Profit Cycles, Oligopoly, and Regional Development||Publisher:||MIT Press (MA)|
|Author:||Ann R Markusen|
|No. of Pages:||376|
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