Structural Change

Cameron Gordon

Chapter Chapter 29 in Many Possible Worlds, 2023, pp 817-845 from Springer

Abstract: Abstract Economic modernisationModernisation has both quantitative and qualitative dimensions. The major measure of its quantitative aspect is real GDP per capitaGDP per capita, indicating the market value of total output across a given population. The qualitative dimension of economic change is generally captured by the structure of the economy, a term that indicates how output production processes are distributed across different economic sectorsSectors, economic, typically classified as primary (e.g. agricultureAgriculture and mining), secondary (e.g. manufacturingManufacturing and construction industries), tertiary (e.g. servicesServices) and quaternaryQuaternary (e.g. highly sophisticated services such as high-technology). Economic modernisation has been characterised by ongoing changes in economic structure and with profound social and economic impacts.

Date: 2023
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DOI: 10.1007/978-981-19-9281-0_29

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