Its industrialisation began in the textiles industry, in the mid-nineteenth century. The services sector, and in particular banking, developed at an early stage, providing an extra boost to the economy as a whole. Freedom of trade, i.e. an open market in which competitors have free play, is the foundation stone of the Swiss Economy. The working population was over half of the total population of 7,094,000 at the end of 1995. Another feature of the Swiss economy is a long-standing agreement between employer and employed to settle grievances by negotiation.
Strikes are rare.
There are of course trade unions, and together with other pressure groups and professional associations, they have their say in the formulation of economic policies. Although geographically the 'hub' of Europe, the traffic routes through Switzerland that we know today were not really developed until the end of the nineteenth century. The extensive rail and road networks are continuously being upgraded. The railway system is fully electric. Car ownership is high, with over 3,300,000 vehicles registered.