Problems arise if budgets for services are held constant whilst
prices rise. Education, cultural activities and health services are
under constant budgetary pressure. The authors argue that the price
of commodities is linked to demand and price increases would
therefore seem to threaten the very existence of these services.
The paradox of these services is that in spite of their exploding
costs, demand persists. Policymakers struggle with the problematic
question of whether to limit public service budgets as costs for
their provision rise. The service sectors of advanced economies are
surprisingly vigorous - the employment of an ever increasing share
of the labour force is one phenomenon. Economists are perplexed by
the interplay of slow service and fast goods productivity growth
and wonder why the demand for services is so persistent. The Growth
of Service Industries is intended for use by both policymakers and
economists and serves as a useful introduction to service
productivity analysis.
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