Management, Marketing, Innovation and Internationalisation
- Research Handbooks in Business and Management series
Edited by John R. Bryson and Peter W. Daniels
Chapter 10: The growth of information-intensive services in the US economy
Most of the large economies in the world are already dominated by services, in that they contribute more than 50 percent of national income. We are now in the midst of another major evolutionary trend, that from a material or physical to an information economy. This change is most visible in developed economies but is occurring everywhere. In this chapter, we explore the confluence of these two trends by examining the double dichotomy of products versus services and information-intensive versus material-intensive (or non-information) industries, which divides the economy into four super-sectors (Karmarkar 2008; Apte et al. 2008). Figure 10.1 provides some illustrative examples of industries in the four super-sectors. Note that certain physical manufacturing and service examples (for example, computers, telecom) fall in the information sector following the definition by Porat (1977). It should also be pointed out that many industries do not really lie entirely inside one cell. For example, the health care industry breaks down just about evenly across the material and information sectors.
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