Introduction: Volume five: Contribution and key findings

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This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book examines strategic responses to the loss of markets and industrial decline during the twentieth century. It aims to investigate the investment decisions of entrepreneurs in the maturity and decline phase of the industry. The book shows that the speculations of 1919 created financial barriers to restructuring once vertically integrated ring spinning and automatic weaving in the same plant became a feasible choice. By the time the productivity revolution of the 1990s created the possibility of integrated advanced textile manufacturing at critical mass, government representatives could no longer see beyond the chimera of cheap labour competition. Without the endogenous shock of financial speculation and the ensuing paralysis afflicting the cotton industry, wool firms were in a much better position to invest in marketing.

Original languageEnglish
Title of host publicationThe Cotton and Textiles Industry
Subtitle of host publicationManaging Decline: Case Studies in Industrial History
EditorsJohn F. Wilson, Steven Toms, Nicholas D. Wong
Place of PublicationLondon
PublisherTaylor & Francis
Number of pages4
ISBN (Electronic)9781000353402
ISBN (Print)9780367715885
Publication statusPublished - 12 Feb 2021

Publication series

NameRoutledge Focus on Industrial History


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