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Services in Economic Thought - Three Centuries of Debate (Paperback, Softcover reprint of the original 1st ed. 1992)
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Services in Economic Thought - Three Centuries of Debate (Paperback, Softcover reprint of the original 1st ed. 1992)
Series: International Studies in the Service Economy, 3
Expected to ship within 10 - 15 working days
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Services today account for a major share of employment and national
product in the U. S. , with the employment share up from 57 percent
immediately post-war to well over 70 percent today (if
communications, utilities and transportation are included). This
transformation (which is also occurring with varying lags in the
othereconomically advanced economies) is driven by a variety of
forces : by changes in consumer demand, by the rising demand for
health and educational services, by new ways in which businesses
are organized and the increasing importance ofcertain functions (e.
g. new demands for monitoring, financing, sales promotion, and
responding to regulatory agencies), and, closely related, by the
continuing advances in electronic technology. Moreover, these
multiple transformations have been accompanied by changes in the
way work is carried out (e. g. the dramatic increases in the
utilization of white collar workers, particularly professionals and
managers, and the employment of women and educated workers), and by
shifts in the location of work and of the population (e. g. rising
importance of key cities within the urban system and of suburbs
generally). The role of services in modem capitalistic economies is
not yet integrated into the body of economic theory, although the
need for such integration, especially as regards theories ofgrowth,
market structure, and pricing, is critical. Some economists and
sociologists, however, have since the days of Adam Smith, dealt
with certain aspects of the role of services.
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