Retrenchment and industry policy

摘要: The recent closure of the National Textiles plant in Newcastle has again brought issue textiles clothing and footwear (TcF) industries into the public arena. While struggled to survive during 1990s, many other TeF firms failed. This article details industry retrenchments period 1989 1996, life previous government's TCF Plan. It discusses complex interplay forces that resuIted closures and highlights role orchestrating pattern pace change. first section briefly surveys different approaches explaining closures. Following a description changes since 1973 it then examines patterns retrenchment, focusing on relationship between job loss, government intervention corporate re-organisation. Job loss cannot be interpreted solely as industry decline, but is intimately bound firms' restructuring secure their viability an open economy. conclusion contrasts managed marketdriven micro-economic reform.