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Plant Closings and the Community
Author(s) -
Sheehan Michael F.
Publication year - 1985
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.1985.tb02372.x
Subject(s) - subsidy , closing (real estate) , government (linguistics) , business , capital (architecture) , local government , market economy , economic policy , economics , finance , labour economics , public administration , political science , geography , linguistics , philosophy , archaeology
A bstract . Over the last 10 years, 10 million jobs have been lost and millions of dollars in capital rendered unproductive from plant closings in New England and the Upper Midwest. Some were weeded out by the discipline of the market but most were moving to cut labor costs and claim subsidies from governments seeking to expand local job opportunities. And some were using the threat of closing to exact concessions from labor and government. In some cases it is possible for municipal governments to buy or condemn the plant and operate it as a public enterprise ; municipal operation is often more efficient and productive. Municipally owned and operated public enterprise should command serious consideration, as an option like cooperative ownership.