ABSTRACT
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Deindustrialization, usually identified with the contraction of output or employment in the manufacturing sector as a whole, was a particular source of policy concern in the 1970s and 1980s. It has spawned a large academic literature, particularly in the UK, which was among the first industrial countries to manifest symptoms of deindustrialization. Analytically, deindustrialization raises two central issues. First, why should the manufacturing sector as a whole decline absolutely, or in terms of its share of national output and employment? Second, does deindustrialization matter? There has also been considerable loss of employment from agriculture, but deruralization was never a controversial issue among economists. In analysing particular cases it must be determined whether deindustrialization can be regarded as a normal response to changing technology and tastes, or rather as a structural disequilibrium in the economy as a whole with malignant consequences.
