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Abstract:This article is the product of the research work: “Profit, investment and industrial production rate in Caldas and the metropolitan area of Manizales-Villamaría, 1985–2001”. It analyzes the investment, the capital stock and the profit rate of the manufacturing industry in the department of Caldas and the metropolitan area of Manizales, using sources such as: Encuesta Anual Manufacturera (EAM) (Annual Manufacturing Survey) and Encuesta de Opinión Empresarial (EOE) (Business Opinion Survey).
In general the industrial production in the aggregate during the 90’s was stable, but not as the result of a continuous investment process, as it would be expected in a classic process where the profit would have a significant role, as could be deduced by some theoreticians who give profit a considerable role in industrial growth. The support of the industrial growth is going to be the product of a simple game of cost reduction, where the greater load will be the product of a simple game of cost reduction in which the highest load is taken by the factor labor. The generated profit did not revert in a strong and sustainable accumulation pattern, which led to a des-industrialization process in some sectors and to an economy outsourcing process, not favorable to the growth and development of Caldas and Manizales.
One of the most outstanding findings of the research hilights that the Caldas-Manizales industry was centered on the production of final consumer goods and its backbone continued to be the textile and food industry until the late nineties.
The national participation of the Caldas and Manizales industry continues to be marginal,. It has not exceeded a participation of 2% in the last 30 years, showing a tendency to the maintenance of production with a significant fall in the number of jobs and their quality in the 90’s; presently there is the same number of jobs as those generated in the 90’s.
The industrial investment in Caldas and Manizales was not, has never been, and it is not a definitive variable in the industrial development process, since it does not have the expected impact on the productive sectors of greater industrial importance, influencing the occurrence of a fall in the total capital stock and in the most important sectors of the local and regional industry in the 90’s.
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