The household sector is the forgotten economy of the Western world. Yet it is an institution that plays a central role in the operation of economic systems, and in the way these systems change through time. This book looks at the role of the household economy in the process of economic change. It considers the household within the Total Economy and analyzes longrun dynamic processes in Western society. This is the first attempt to analyze the dynamics of the Total Economy over such a long timespan. Soundly based on quantitative data, this pioneering book challenges accepted theoretical and empirical notions on this important subject.