The service economy

McManus, John
June 2009
Management Services;Summer2009, Vol. 53 Issue 2, p16
Academic Journal
This article discusses the importance of service industries to the global economy. It looks at ground rules that emerged in the service economy. It highlights strong growth in services occurred in Canada and Australia. It attributes the growth to an intangible aspect of services which makes them difficult to copy and the consumption value of services that is based on their intrinsic nature. In addition, the article indicates the causes of problems faced by service industries, including deregulation, regulatory reform and liberalization of many service markets.


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