Industry used to be associated with pollution, social unrest, and strenuous working conditions. Today it means making, maintaining and repairing things. Even if high tech is applied, there is, at core, a manual know how involved. This may be a far cry from 'the art of motorcycle maintenance', but to inquire into the valua of work can still be instructive (Crawford, 2009). Making, maintaining and repairing is about real things, instead of justr juggling paper, clicking on computer keyboards or creating financial bubbles.
According to official statistics, industry creates about less than a third of total employment. However, not counting producer services is to underestimate the weight of manufacturing.
'Producer services are intermediate inputs to further production activities that are sold to other firms, although households are also important consumers in some cases. They typically have a high information content and often reflect a "contracting out" of support services that could be provided in-house. Producer services comprise: business and professional services, financial services, insurance services, and real estate services (OECD).
For a deeper economic analysis of producer services see Francois & Woerz (2007).
maandag 7 februari 2011
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