| Abstract: | Technical change will cause problems in the OECD area in all three sectors of manufacturing industry : consumer, intermediate, and capital goods. The author describes the factors influencing this process : the changes in demand, resource costs, competition, and technology. He discusses the growth and employment prospects for various sectors. It is a mistake to assume that the service sector will be able to absorb either the number or the type of workers displaced: structural unemployment poses a serious threat. Those countries able to adapt well to technical change are identified. |
