Meaning
In cultural terms, economic restructuring has been associated with postmodernity as its counterpart concerning flexible accumulation. Additionally, the term carries with it three core themes: historical, radical rupture into post-industrial economic order; priority of economic forces over social/political forces; and structure over agency where the process is independent of human will, as it takes place according to economic logic (Logan & Swanstrom 1990). In addition, economic restructuring demonstrates the increasing complex and human-capital intensive modern society in Western nations.
Read more about this topic: Economic Restructuring
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