The Impact Of Service And Knowledged Based Economy And...

Worldbank (n.d.) states, â€Å"Everything that grows also changes its structure. Just as a growing tree constantly changes the shape, size, and configuration of its branches, a growing economy changes the proportions and interrelations among its basic sectors- agriculture. Industry, and services and between other sectors-rural and urban, public and private, domestic- and export-orientated (para. 1) Hodson Sullivan present that (2008) â€Å"A post-industrial society is based on services. Hence, it is a game between persons. What counts is not raw muscle power, or energy, but information† (Bell, 1976, p. 127). The essay will explain the work in modern America, including the positive and negative aspects of the service and knowledged-based economy and Americas place in the global economy. Discuss the interconnectedness of immigration, globalization, democracy, and corporate power, and how the changes in the workplace, and increasing service orientation of the economy has affe cted my life. Service Economy The new service economy has positive and negative aspects. The United States labor was once based on agriculture, then manufacturing and has now turned into an economy based on services (Hodson Sullivan, 2008). Over the years, Americans have gained more capital and with that capital services such as education, health and entertainment have increased. (Worldbank, n.d.) Because service jobs are not based on the use of machines like manufacturing, jobs are continuing to grow in theShow MoreRelatedMega Trends : Global Trends And New Ways Of Living And Working3310 Words   |  14 Pagesinstitutions that recognise global trends and plan for a changing world that will be the market leaders of the future. The low skill surplus vs the knowledged worker deficit The education sector plays a pivotal role in supplying trained and credentialed candidates to the global labour market. This role will amplify in importance as the demand for medium to high skill workers rises. Over the next decade, the dramatic shift in technology and the global marketplace will have deep impacts on the labour market