The Global Status Quo

Joe Atikian

Chapter 3 in Industrial Shift: The Structure of the New World Economy, 2013, pp 16-27 from Palgrave Macmillan

Abstract: Abstract The global economy is divided into the familiar 5% agriculture, 25% manufacturing, and 70% services. The highest agricultural share is in the tropics, with a lower share in wealthier countries. The wealth of nations can be predicted by a low farm sector share. Manufacturing and services have reversed their relation to wealth. Major advances in technology have made services tradable, and now a higher share in services characterizes advanced economies.

Keywords: industrial structure; manufacturing sector; poverty of nations; services sector; wealth of nations (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_3

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DOI: 10.1057/9781137340313_3

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