In the late nineteenth century, social scientists recognized the important effects that the changes in technology and the increased demand for specialized skills had on the labour market. In their terms, the new technology meant a real increase in the ability to purchase and consume an increased variety of goods and services, resulting in ‘steady progress for the working classes’. This was seen to be accompanied by an ‘emancipation from custom, and the growth of free activity’ resulting in a special character of business. Just before and just after the turn of the century, business and labour markets had changed dramatically.

We argue that in the late twentieth century the character of business and of the labour market has also changed significantly on account of: (i) an increasing proportion of women in the labour market; (ii) moves toward a larger service industry sector; and (iii) a rapid development of information technologies.