The Economics of Services
Next Previous Up Top
- Services are a very important component of the modern economy.
- "Advanced" economies like Japan and the U.S. get about 50% of
their value-added from the service sector (as opposed to
manufactured goods and agriculture/mining).
- Modern services like finance, telecommunications, computing, and
so on are growth industries, as is medicine, one of the most
ancient industries.
- Even very recent industries are getting into the act: "software as
a service" is espoused by companies like IBM and Oracle.
Next Previous Up Top