The Growth of Services in the Economy

Their Stabilising Influence
  • C. W. Mcmahon
  • G. D. N. Worswick

Abstract

In forty years the number of Americans engaged in producing commodities has barely changed The entire increase in the workforce has gone into what can broadly be called services of all kinds: there are many more taxi-drivers, salesmen, bankers, barbers, doctors, teachers, insurance agents and restaurateurs for example; and, as will surprise no one, many, many more people employed by government. Total employment in all ‘service’ industries has in fact risen by some 130 per cent in the past forty years, while the numbers employed in manufacturing, mining, construction and agriculture are only about 3 per cent up.

Keywords

Depression Income Fishing Dial 

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Reference

  1. 1.
    See for example an interesting article by Edwin L. Dale, ‘America’s Drift from the Factory’, in The Banker (June 1957).Google Scholar
  2. 2.
    See Dale in The Banker (June 1957).Google Scholar
  3. 1.
    See Simon Kuznets, Economic Growth (Illinois, 1959) lecture III.Google Scholar
  4. 1.
    See A. J. Brown, ‘Inflation and the British Economy’, Economic Journal, LXVIII (1958).Google Scholar

Copyright information

© Palgrave Macmillan, a division of Macmillan Publishers Limited 1969

Authors and Affiliations

  • C. W. Mcmahon
  • G. D. N. Worswick

There are no affiliations available

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