The services economy: Revisiting Baumol’s cost disease Phuah Eng Chye (26 August 2017) If we are to meet the growth challenges of the future, the answer isn’t likely to lie in creating more manufacturing plants and jobs. The answer must lie in how we are able to harness and manage growth in the services sector; … “The services economy: Revisiting Baumol’s cost disease”
Month: August 2017
The services economy: Deindustrialisation & global unbundling
The services economy: Deindustrialisation & global unbundling Phuah Eng Chye (19 August 2017) The greatest challenge ahead is not how manufacturing is being hollowed out in developed countries but rather how technology is changing the traditional role of manufacturing in global economic development. Noting long-standing beliefs that economic advancement occurs through industrialization, Ejaz Ghani and … “The services economy: Deindustrialisation & global unbundling”
The services economy: Macroeconomic overview
The services economy: Macroeconomic overview Phuah Eng Chye (12 August 2017) The transition to an information society begins with the ascendency of the services sector. As output becomes increasingly intangible, the services sector supplants the manufacturing sector as the main contributor to the economy. The manufacturing sector then hollows out with its share of GDP … “The services economy: Macroeconomic overview”