Plant Closings and the Community

Michael F. Sheehan

American Journal of Economics and Sociology, 1985, vol. 44, issue 4, 423-433

Abstract: Abstract. 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.

Date: 1985
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