The dominance of producers services in the U.S. economy
Some economists have been concerned with the phenomenon of rapid and growing service sector employment and output in the United States. De-industrialisation has been viewed as a threat to the long-term viability of the economy. This paper provides a rebuttal to these views and examines the various d...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2013-10-01
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| Series: | PSL Quarterly Review |
| Subjects: | |
| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/10936 |
| Summary: | Some economists have been concerned with the phenomenon of rapid and growing service sector employment and output in the United States. De-industrialisation has been viewed as a threat to the long-term viability of the economy. This paper provides a rebuttal to these views and examines the various definitions of the services that are being measured. The analysis concludes that it is producer services that are on the increase; these are intermediate services provided to businesses that reflect increasing specialisation within the labour force.
JEL: L80, O14
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| ISSN: | 2037-3635 2037-3643 |