Abstract
An outline of international productivity, competitiveness, and profitability indicators is given in support of the contention that capital has been reorganizing more or less successfully, albeit unevenly of late. There follows a discussion of the relative merits of two theories which seek to address what some have called the transition from Fordism to post-Fordism. It is argued that the notion of ‘flexible accumulation’, although superior in principle to that of ‘disorganized capitalism’ as a general orienting device, is too loosely specified at present. In particular, attention is drawn to the growth of social and spatial integration as a key element of interfirm relations in a context of growing flexibility. Empirical evidence is adduced in support of the argument that flexibility involves internal changes in work practices and external changes in relations with competitors which are likely to have far-reaching spatial resonances.