The Postindustrial Service Economy
It is my contention the “postindustrial” service economy—especially one that that will provide continued economic growth and enough family wage jobs to sustain current living standards—is a myth. The Multinational Corporations (MNCs) have accelerated the problem by outsourcing manufacturing jobs and production to low-cost countries.
In 1973, Daniel Bell wrote a book, The Coming of Post-Industrial Society, in which he described how the U.S. economy was transitioning from being manufacturing-based to becoming service-based. He correctly predicted the global diffusion of capital, trade deficits, and the relative decline of the manufacturing sector. Bell also predicted that the importance of blue-collar ...
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