Q.What do you understand by 'structural change'? Explain with examples other than those in the text.
Structural change refers to a transformation in the structure of society — its institutions, or the rules by which those institutions operate — rather than a change confined to surface behaviour. The chapter's own illustration is the emergence of paper money: once currency no longer needed intrinsic value (as gold and silver coins did) but only needed to inspire trust, the whole foundation of banking and credit changed, reorganising economic life more broadly. The key point is that structural change alters the 'rules of the game' for an institution, so that many smaller changes follow as a consequence.
A comparable example, not used in the text, is the shift in family structure across much of urban India from the joint family (several generations sharing a household, income and property under a common head) toward the nuclear family (a couple and their children living and earning independently). This is a structural change because it alters the institution of the family itself — its rules of authority, inheritance, decision-making and economic interdependence — rather than being a single isolated event. Like the paper-money example, it has extensive knock-on effects: on old-age support arrangements, on women's role in household decision-making, on patterns of property division, and on demand for institutions (creches, old-age homes) that a joint-family system did not need in the same way.
Structural change is a transformation in an institution's own rules — as with the shift from metal-backed to trust-based paper currency, which restructured banking itself. A further example is the shift from joint-family to nuclear-family households in urban India, which changed the family's own rules of authority and inheritance, with wide knock-on effects on old-age support and women's roles.
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