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Deindustrialization
DEINDUSTRIALIZATION

Definition: The process by which a country or area stops having so much industry.
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* All six elements would be in.


1. Purposeful and necessary to have less number of industries.

2. Decision will be deliberate and well thought by the stakeholders. That is, the consequences of relocation or closures will be known.

3. The basis of reduction will be non-economic. That is, the business environment, labour laws, interest rates, tax regimes, etc. will not be the main reason(s) for the situation coming into being.

4. The standard of living or well-being of the people previously employed will not be negatively affected. That is, the process will not lead to underutilization, social disequilibrium, dysfunction, etc.

5. Process can be suspended and an industrial regeneration made to take place, if thought necessary by the authority of country or area.

6. Reduction achieves goal(s) - and the society benefits therefrom.
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