The times they are a-changin' -- It don't mean a thing, if it ain't got that' -- When father knew best -- The deluge -- Brains not brawn -- The wall -- The road less traveled -- Not your father's university -- Won't get fooled again?

This paper documents that a process of industrial restructuring has been transforming the developed economies, where large corporations are accounting for less economic activity and small firms are accounting for a greatershare of economic activity. Not all countries, however, are experiencing...