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The Global Status Quo

In: Industrial Shift: The Structure of the New World Economy

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  • Joe Atikian

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.

Suggested Citation

  • Joe Atikian, 2013. "The Global Status Quo," Palgrave Macmillan Books, in: Industrial Shift: The Structure of the New World Economy, chapter 3, pages 16-27, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-34031-3_3
    DOI: 10.1057/9781137340313_3
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