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During the 1970s and ’80s Scotland’s economy shared in acute form the problems besetting many European countries, brought about by rapid changes that included the widespread failure of heavy industries. Unemployment became a serious problem, especially in those areas where major industries had declined. Successive governments made efforts to improve these conditions by a variety of measures. Beginning in the 1980s, Scotland’s economy benefited from the exploitation of North Sea petroleum and natural gas and from the development of high-technology and other economic sectors. Scotland remains a small but open economy and accounts for about 5 percent of the United ...(100 of 26033 words)