De-industrialization and the Rise of the Service Economy

  • Michael Perelman


Should we be concerned about the elimination of manufacturing jobs and the rise of service employment in the United States? In the past, economists as far apart as Karl Marx and Adam Smith regarded services as decidedly unproductive. Recently, the attitude toward services has shifted. Despite the prevalence of low-wage service employment, some modern economists welcome the replacement of manufacturing employment as a positive development.


Service Sector Capital Stock Service Industry Competitive Pressure Service Economy 
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Copyright information

© Michael Perelman 1996

Authors and Affiliations

  • Michael Perelman
    • 1
  1. 1.California State UniversityUSA

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