Columnist: Service Economy Hasn’t Delivered on Promises Made Decades Ago

Four decades after many U.S. economists and academics started calling for a “post-industrial” service economy, America today has 135 million service workers compared to 13 million manufacturing workers. IndustryWeek contributor Michael Collins writes that there’s growing proof the service economy “is not going to provide the wages, living standards, or economic growth” promised decades ago.

Meanwhile, this infographic shows the U.S. has seen its economic power shrink over the past two decades, while China has surged to nearly 20% of the world’s GDP — up from 8% two decades ago. 7/5/2022