Introduction

Joe Atikian

Chapter 1 in Industrial Shift: The Structure of the New World Economy, 2013, pp 1-6 from Palgrave Macmillan

Abstract: Abstract Are food and goods “no longer made here”? Increased trade makes it seem so: India 1960s, Japan 1970s, China 1980s, Russia 1990s. Globalization and employment shifts bring fear of Western decline. The shift from farms to factories reinforces the fear, although economic data showing their growth seem to be ignored. The service sector grows much quicker and gives the illusion of decline in the other sectors. The most advanced economies have the smallest share of GDP in agriculture, even while they grow ever more food. They also have the highest incomes. Countries with less advanced technologies grow by shifting to manufacturing. Wealth grows slowly at first, but increases rapidly as they shift further from agriculture. The same pattern takes place in most countries around the world.

Keywords: industrial shift; industrial structure; manufacturing sector; productivity; service sector (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-34031-3_1

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DOI: 10.1057/9781137340313_1

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