Society whose service sector provides more economic value than manufacturing
This article is about a shift from a manufacturing to a services economy. For societal effects of the Industrial Revolution, see Industrial Revolution. For offshoots of industrial music, see List of industrial music genres.
Clark's sector model for US economy 1850–2009.[1] The graph illustrates the predominance of primary, secondary and tertiary industries (as a share of all jobs) over time, as a society develops.
As the term has been used, a few common themes, including the ones below have begun to emerge.
The economy undergoes a transition from the production of goods to the provision of services.
Knowledge becomes a valued form of capital; see Human capital.
Producing ideas is the main way to grow the economy.
Through processes of globalization and automation, the value and importance to the economy of blue-collar, unionized work, including manual labor (e.g., assembly-line work) decline, and those of professional workers (e.g., scientists, creative-industry professionals, and IT professionals) grow in value and prevalence.