"Koistinen puts the ‘political’ back in political economy in this fascinating account of New England’s twentieth-century industrial erosion. First-rate research and sound judgments make this study essential reading."--Philip Scranton, Rutgers University--Camden "Well-organized and clearly written, Confronting Decline looks at one community to understand a process that has become truly national."--David Stebenne, Ohio State University "Koistinen’s important book makes clear that many industrial cities and regions began to decline as early as the 1920s."--Alan Brinkley, Columbia University "Sheds new light on a complex system of enterprise that sometimes blurs, and occasionally overrides, the distinctions of private and public, as well as those of locality, state, region, and nation. In so doing, it extends and deepens the insights of previous scholars of the American political economy."--Robert M. Collins, University of Missouri The rise of the United States to a position of global leadership and power rested initially on the outcome of the Industrial Revolution. Yet as early as the 1920s, important American industries were in decline in the places where they had originally flourished. The decline of traditional manufacturing--deindustrialization--has been one of the most significant aspects of the restructuring of the American economy. In this volume, David Koistinen examines the demise of the textile industry in New England from the 1920s through the 1980s to better understand the impact of industrial decline. Focusing on policy responses to deindustrialization at the state, regional, and federal levels, he offers an in-depth look at the process of industrial decline over time and shows how this pattern repeats itself throughout the country and the world.

This unique study determines, by means of rigorous quantitative analysis, how cycles in New England cotton textile profits, output, borrowing, and capacity affected investment--and therefore industrial growth--during the nineteenth century. The firms studied were transitional forms between owner-managed companies and the modern corporation. From primary sources, Paul McGouldrick has constructed standardized balance sheets and income statements for each company year by year. A painstaking comparison with a much broader sample of companies shows that trends and cycles in profit rates for companies studied were typical of the industry.

A lavishly-illustrated social history of the manufacture that did most to transform the character of New England and of America.

"Notes and references": p. [473]-493.

This book examines the decline of the cotton textiles industry, which defined Britain as an industrial nation, from its peak in the late nineteenth century to the state of the industry at the end of the twentieth century. Focusing on the owners and managers of cotton businesses, the authors examine how they mobilised financial resources; their attitudes to industry structure and technology; and their responses to the challenges posed by global markets. The origins of the problems which forced the industry into decline are not found in any apparent loss of competitiveness during the long nineteenth century but rather in the disastrous reflotation after the First World War. As a consequence of these speculations, rationalisation and restructuring became more difficult at the time when they were most needed, and government intervention led to a series of partial solutions to what became a process of protracted decline. In the post-1945 period, the authors show how government policy encouraged capital withdrawal rather than encouraging the investment needed for restructuring. The examples of corporate success since the Second World War – such as David Alliance and his Viyella Group – exploited government policy, access to capital markets, and closer relationships with retailers, but were ultimately unable to respond effectively to international competition and the challenges of globalisation. The chapters in this book were originally published in Business History and Accounting, Business and Financial History.

In When the Air Became Important, medical historian Janet Greenlees examines the working environments of the heartlands of the British and American cotton textile industries from the nineteenth to the late twentieth centuries. Greenlees contends that the air quality within these pioneering workplaces was a key contributor to the health of the wider communities of which they were a part. Such enclosed environments, where large numbers of people labored in close quarters, were ideal settings for the rapid spread of diseases including tuberculosis, bronchitis and pneumonia. When workers left the factories for home, these diseases were transmitted throughout the local population, yet operatives also brought diseases into the factory. Other aerial hazards common to both the community and workplace included poor ventilation and noise. Emphasizing the importance of the peculiarities of place as well as employers’ balance of workers’ health against manufacturing needs, Greenlees’s pioneering book sheds light on the roots of contemporary environmentalism and occupational health reform. Her work highlights the complicated relationships among local business, local and national politics of health, and community priorities.

Part of a series of detailed reference manuals on American economic history, this volume traces the development and growth of the factory system, labour movements and foreign and domestic commerce.