Originally published in 1986. This book is concerned with how regional economies adapt and respond to changing circumstances, and especially with the spatial system and processes of restructuring. Throughout the book there is a methodological commitment to adjustment theory - a unique analytical framework for the study of the dynamics of advanced capitalist economies. Instead of homogenising space in the manner of neoclassical economic theory, the authors focus on adjustment processes that produce and reproduce spatial differentiation.
The most important facets of regional economic structure are covered – employment, wages, prices, migration, and capital investment – in terms of their own dimensions and their connections with the larger theoretical framework. Each part of the book develops one particular dimension of regional adjustment, and each has an overview and summary. Within each part, there is a sequence of related studies focussing on the empirical aspects, theoretical logic, and distributive consequences of regional adjustment.
Preface Part 1: A Theory of Regional Adjustment 1. The Adjustment Problem 2. Contemporary Regional Economic Structure 3. An Adjustment Model of Regional Production Part 2: Local Employment Profiles and Labour Demand 4. Fluctuations and Rigidities in Local Labour Markets 5. Regional Demand for Labour 6. The Risks of Local Adjustment Part 3: Regional Wages and Prices 7. Does Inflations Vary Between Cities? 8. Components of Local Inflation 9. Regional Wage Indexation Part 4: Interregional Labour Migration 10. Dynamics of Inter-State Labour Migration 11. Migration and Capital 12. Labour Migration and Uncertainty Part 5: Regional Capital Dynamics 13. Regional Capital Theory 14. Dynamics of Regional Investment 15. Capital, Labour, and Regional Dynamics