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De-industrialization and the Rise of the Service Economy

In: The Pathology of the U.S. Economy

Author

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  • Michael Perelman

    (California State University)

Abstract

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.

Suggested Citation

  • Michael Perelman, 1993. "De-industrialization and the Rise of the Service Economy," Palgrave Macmillan Books, in: The Pathology of the U.S. Economy, chapter 7, pages 172-191, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-22830-0_7
    DOI: 10.1007/978-1-349-22830-0_7
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