Chapter

Good Medicine for Philadelphia? Local Industrial Policy and the Problem of Jobs

in The Problem of Jobs

Published by University of Chicago Press

Published in print December 2008 | ISBN: 9780226560120
Published online March 2013 | e-ISBN: 9780226560144 | DOI: http://dx.doi.org/10.7208/chicago/9780226560144.003.0003
Good Medicine for Philadelphia? Local Industrial Policy and the Problem of Jobs

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This chapter discusses the role of the Philadelphia Industrial Development Corporation (PIDC) in addressing the jobs problem in postwar Philadelphia. It describes the accomplishments of the PIDC and how it acted as the borrower in industrial transactions to lower the cost of financing new or renovated industrial facilities for undercapitalized Philadelphia manufacturing firms. The chapter suggests that the PIDC's greatest limitation in the 1960s lay less in its failure at the impossible task of resolving Philadelphia's deindustrialization-induced problem of jobs than in its inability to bridge the gap separating Philadelphia's racially bifurcated, parallel tracks of local industrial and employment policy.

Keywords: PIDC; jobs problem; postwar Philadelphia; financing; industrial facilities; deindustrialization; industrial policy; employment policy

Chapter.  15217 words.  Illustrated.

Subjects: History of the Americas

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