ABSTRACT
So far we have looked at employment losses resulting from relatively minor modifications to the production process in a context primarily of output decline or slow growth. But employment loss can occur in other ways. In sixteen of the thirty-one industries we looked at employment decline in Britain was accompanied by heavy net capital investment. This investment was usually in the kind of major reorganization of the production process that resulted in a fairly substantial reduction in the amount of labour required for any given level of output.
