Daniel Lind

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Value creation and structural change during the third industrial revolution

THE CONVENTIONAL APPROACH to the analysis of structural change is to applya horizontal perspective on the economy. This means that sectors are studiedin isolation. By the integration of two strands of literature on structuralchange and the role of technology, evolutionary economics and input-outputeconomics, this thesis applies a vertical perspective on the economy – howproduction processes create, and alter, the intermediate interdependenciesbetween horizontally represented sectors. With this approach, several wellestablishednotions about the contemporary Swedish economy are analysedfrom a new angle. These concern the level of specialization, the process ofdeindustrialization, the growing importance of business services, the productivityleadership of the manufacturing sector, and reduced competitiveness.It is argued that a vertical perspective contributes to a new and morecomplete understanding of value creation and structural change during theThird industrial revolution.

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