the internationalization of economic activity and its major vehicle, the TNC, can be regarded simply as being part of the normal expansive process o… - Peter Dicken

One of the most striking developments has been the rise, fall and rise again of the semiconductor industry of the United States, which is, once again, the dominant player in the most advanced semiconductor product-markets.

It is indeed paradoxical that an industry which epitomizes all that is new and up-to-date at the same time harbours some of the oldest and least desirable attributes of work in manufacturing industry.

One of the most striking trends, since at least the 1960's, has been for employment in services to grow far more rapidly than employment in manufacturing. It is this trend that has led to the view that developed economies have become de-industrialized and that they are now effectively service economies.