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In my last instalment I developed the triple overview: the view that there are three distinct influences at work in our industrial society. These are: some sort of major depression of the usual cyclical nature; structural change in certain of the older industries and, third, a major shift in the way that human beings contribute to the economy and to society. Opinions vary as to which is the most influential factor at any time. I made the point that the media and the politicians, together with the trade union barons, talk exclusively about ‘The Depression’ and lump structural change with it, to the complete neglect of the major shift, which, to them, doesn't exist. This, in turn, explains their strategy: hoping for a natural return to yesterday's prosperity as the Depression moves in its inevitable cycle. The reason for separating structural change from the other two influences is that it is distinct in kind. Structural change tends to move production from one country to another rather than do away with it altogether or superceding it with something else. It is important to make this distinction.

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