In this book, Frederic L. Pryor uses the concept of structural complexity to show how changes in the population, the labour force, the structure of industry, the financial system, foreign and domestic trade, and the government sector are related to the same general trend in the US economic system. He also investigates the impact of these changes on the functioning of the system, exploring such matters as the long-term rising unemployment rate, the allegedly increasing volatility of the economy, the changing degree of competition, and the evolving economic role of the government. The discussion is aimed at those who wish to view the economy as a whole and who are concerned with problems of understanding an economy that is becoming increasingly complex along many different dimensions. For specialists a number of appendices discuss a variety of technical issues.

"The book is a tour de force. Professor Pryor has generally traveled the less frequented roads in his choice of topics, and he has done so again. This book is not a textbook but a very impressive study of recent U.S. economic history. It is based on a great breadth and depth of scholarship....This brief summary of the book cannot begin to do justice to the rich array of theoretical, statistical, and institutional detail provided in this monograph. Anyone interested in the recent economic history of the United States and potential future changes in the U.S. economy and economic system will do well to consult this monograph." Egon Neuberger, Journal of Comparative Economics

"...this work in its substance is quite impressive analytically as are the charts and tables. Highly recommended..." Choice

"This book represents an intriguing attempt by the author to document how growing economic complexity has affected and will affect the United States economy....This is an ambitious work..." John Willoughby, Journal of Economic Interest