ABSTRACT

Economic development in a capitalist system is an uneven process. As new factories begin production, old plants close down. As technological innovations create new markets, the demand for outmoded products diminishes. These cyclical features of capitalist economic development produce a characteristic unevenness that manifests itself in several ways. Industries and occupations rise and fall, producing employment booms and busts. Regions and communities vary in their capacities to attract sunrise industries and/or maintain the viability of established industries. And, distinct social categories of workers with varying attributes and bargaining power experience success or failure in the labor market.