| Abstract: | The central theme of this paper is the process of structuralchange which occurred during the twentieth century in the leadingindustrial nations. The massive scale of the changes in allthese countries is first illustrated by reference to the reallocationof the labour force between agriculture, industry, and the services,and the process of de-industrialization common to all thesecountries is highlighted. Alternative measures based on outputdata at current and constant prices are also considered. Thepaper then explores the main reasons for these shifts in thepattern of activity, looking at the interacting effects of demand-and supply-side factors. This is followed by an examinationof some of the consequences of structural change, includingthe implications for the labour market and the overall growthof labour productivity. The final section speculates brieflyabout the likely implications for the less-developed countriesfollowing behind this advanced group. |
