Definition of Smokestack industry:
A smokestack industry is a traditional heavy manufacturing industry that produces large items or inputs into other industries. Examples include cars, shipbuilding, steel and other metals, chemicals, and heavy machinery. In short, it refers to any heavy manufacturing industry that has been around for decades. Such industries tend to cause substantial pollution: The typical images of these industries are factories that have banks of chimney stacks emitting smoke into the atmosphere, hence the term "smokestack." Smokestack industries have traditionally been seen as critical to the process of industrialization and the development process in emerging market economies.
Any of the heavy manufacturing industries, typically coal-powered and associated with high levels of pollution and outmoded technology (usually in plural); also absol. used attributively, of, pertaining to, or characterized by the smokestack industries, as smokestack city, smokestack economy, etc.
Heavy manufacturing sector (such as automobiles, chemicals, metal industries) which is fundamental to an industrial economy but is harmful to the environment with air pollutants and other hazardous by products.
Smokestack industries traditionally have also been capital-intensive producers, requiring investment in large facilities, heavy equipment, and machinery. Most (such as automobile manufacturers) have become significant users of technology in their production lines. Because of their high capital investment requirements, smokestack industries tend to exhibit large economies of scale. These economies of scale often lead to significant agglomeration of related industries, large local employment multiplier effects, and market power or even monopsony in employment and factor markets. .
How to use Smokestack industry in a sentence?
- Smokestack industries are heavy manufacturing industries, which often traditionally have factories with smokestacks.
- Smokestack industries are generally viewed as "old economy" businesses by investors and tend to be sensitive to economic cycles.
- The rise of smokestack industries is closely associated with industrialization and economic development, but can also result in pollution and strain on natural resources.
Meaning of Smokestack industry & Smokestack industry Definition