“Better living through chemistry”: the chemical industry in the world economy

The chemical industry has produced a pattern of economic development and political change differing from that identified by research on the textile, steel, and automobile sectors. Its capacity for innovation and self-renewal renders inappropriate much of the logic of sectoral decline derived from theories of the product cycle. The postwar record of state-industry relations in France, Britain, West Germany, and the United States suggests that "strong" states can be helpful in bolstering the performance of the chemical industry in an expanding global economy but such states often frustrate the process of adaptation and adjustment during periods of recession. "Weak" states are particularly well suited to strong performance by the industry in both the good times and the bad.