The services economy: Comparing the manufacturing and service paradigms Phuah Eng Chye (2 September 2017) The share of the manufacturing sector has been falling and that of services has been rising for decades in many advanced countries. Services is the dominant sector in advanced economies. Yet the services sector is often treated as a poor … “The services economy: Comparing the manufacturing and service paradigms”
Tag: Baumol’s cost disease
The services economy: Revisiting Baumol’s cost disease
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”
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”