This book investigates the multifaceted decline of heavy industry in Western industrialized nations, with a specific focus on the shipbuilding sector. The author, Daniel Todd, posits that the demise of this industry is rooted in three core factors: the inherent life cycles of industrial development, the evolving international division of labor, and the significant impact of the 1973 energy crises. The analysis traces the historical trajectory of Western shipbuilding, noting Japan's ascendance in 1956, and extends to a broader examination of global industrial dynamics in the latter half of the 20th century.

This book offers a thorough examination of the decline of heavy industry in industrialized Western countries, with a particular focus on the shipbuilding industry. The author, Daniel Todd, argues that industrial life cycles, the international division of labor, and the energy crises of 1973 are central to this decline. The work begins by tracing the despondency in Western shipbuilding as early as 1956, when Japan surpassed Britain as the leading ship producer, and proceeds to explore international trade and industry in the second half of the 20th century. Analysis includes industrial reorganization, East Asian conglomerates, diversification within marine industries, and shipbuilding developments in Brazil, India, and China.