Abstract
The article begins with a theoretical discussion of the imperative of regional industrial policy in the new world economic order. The recent performance of the Southern Californian manufacturing system is reviewed, and it is argued that the regional economy is now at a critical historical turning point. This turning point can be identified in terms of a series of failures involving (a) a declining aerospace-defense industrial base, (b) inadequate institutional foundations for accelerated technological progress, and (c) deteriorating labor market conditions and competitiveness in several of the region's craft specialty industries. The generalized specifications of a concerted policy response to these problems are sketched out, with particular attention being paid to (a) industrial innovation, (b) labor force re-skilling, (c) collaborative manufacturing systems, and (d) regional government.
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