The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors in the three-sector model. The others are the primary sector and the secondary sector (manufacturing).
Import substitution industrialization (ISI) is a trade and economic policy that advocates replacing foreign imports with domestic production. It is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products. The term primarily refers to 20th-century development economics policies, but it has been advocated since the 18th century by economists such as Friedrich List and Alexander Hamilton.
Industrial policy is government policy to encourage the development and growth of all or part of the economy in pursuit of some public goal. Historically, it has often focused on the manufacturing sector, militarily important sectors, or on fostering an advantage in new technologies. The government takes measures "aimed at improving the competitiveness and capabilities of domestic firms and promoting structural transformation". A country's infrastructure is a major enabler of industrial policy.
Industrialisation (UK) or industrialization (US) is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive reorganisation of an economy for the purpose of manufacturing. Industrialisation is associated with increase of polluting industries heavily dependent on fossil fuels. With the increasing focus on sustainable development and green industrial policy practices, industrialisation increasingly includes technological leapfrogging, with direct investment in more advanced, cleaner technologies.
The knowledge economy, or knowledge-based economy, is an economic system in which the production of goods and services is based principally on knowledge-intensive activities that contribute to advancement in technical and scientific innovation. The key element of value is the greater dependence on human capital and intellectual property as the source of innovative ideas, information and practices. Organisations are required to capitalise on this "knowledge" in their production to stimulate and deepen the business development process. There is less reliance on physical input and natural resources. A knowledge-based economy relies on the crucial role of intangible assets within the organisations' settings in facilitating modern economic growth.
In sociology, an industrial society is a society driven by the use of technology and machinery to enable mass production, supporting a large population with a high capacity for division of labour. Such a structure developed in the Western world in the period of time following the Industrial Revolution, and replaced the agrarian societies of the pre-modern, pre-industrial age. Industrial societies are generally mass societies, and may be succeeded by an information society. They are often contrasted with traditional societies.
Service economy can refer to one or both of two recent economic developments:
In sociology, the post-industrial society is the stage of society's development when the service sector generates more wealth than the manufacturing sector of the economy.
Operation Bootstrap is the name given to a series of projects which transformed the economy of Puerto Rico into an industrial and developed one. The federal government of the United States together with what is known today as the Puerto Rico Industrial Development Company set forth a series of ambitious economical projects that evolved Puerto Rico into an industrial high-income territory. Bootstrap is still considered the economic model of Puerto Rico as the island has still not been able to evolve into a knowledge economy.
The Rust Belt, formerly the Steel Belt, is a region of the Northeastern, Midwestern United States, and the very northern parts of the Southern United States. It includes Western New York, Pennsylvania, Ohio, West Virginia, Indiana, Illinois, the Lower Peninsula of Michigan, southeastern Wisconsin, and small parts of Kentucky, New Jersey, and the St. Louis metropolitan area in Missouri. Cities in the Rust Belt include Allentown, Buffalo, Chicago, Cincinnati, Cleveland, Detroit, Gary, Milwaukee, Philadelphia, Pittsburgh, Rochester, Toledo, Trenton, and Youngstown.
Industrial civilization refers to the state of civilization following the Industrial Revolution, characterised by widespread use of powered machines. The transition of an individual region from pre-industrial society into an industrial society is referred to as the process of industrialisation, which may occur in different regions of the world at different times. Individual regions may specialise further as the civilisation continues to advance, resulting in some regions transitioning to a service economy, or information society, or post-industrial society. The present era is sometimes referred to as the Information Age. De-industrialization of a region may occur for a range of reasons.
The economy of North America comprises more than 596 million people in its 24 sovereign states and 15 dependent territories. It is marked by a sharp division between the predominantly English speaking countries of Canada and the United States, which are among the wealthiest and most developed nations in the world, and countries of Central America and the Caribbean in the former Latin America that are less developed. Mexico and Caribbean nations of the Commonwealth of Nations are between the economic extremes of the development of North America.
Industrial production was a defining characteristic of Shōwa Japan. It originated from the country's attempt to be Westernized.
The energy industry is the totality of all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, refining and distribution. Modern society consumes large amounts of fuel, and the energy industry is a crucial part of the infrastructure and maintenance of society in almost all countries.
The economic history of Brazil covers various economic events and traces the changes in the Brazilian economy over the course of the history of Brazil. Portugal, which first colonized the area in the 16th century, enforced a colonial pact with Brazil, an imperial mercantile policy, which drove development for the subsequent three centuries. Independence was achieved in 1822. Slavery was fully abolished in 1888. Important structural transformations began in the 1930s, when important steps were taken to change Brazil into a modern, industrialized economy.
Service industries are those not directly concerned with the production of physical goods. Some service industries, including transportation, wholesale trade and retail trade are part of the supply chain delivering goods produced in the agricultural and manufacturing sectors to final consumers.
The following outline is provided as an overview of and topical guide to industry:
Deindustrialization is a process of social and economic change caused by the removal or reduction of industrial capacity or activity in a country or region, especially of heavy industry or manufacturing industry.
The economy of the Soviet Union was based on state ownership of the means of production, collective farming, and industrial manufacturing. An administrative-command system managed a distinctive form of central planning. The Soviet economy was characterized by state control of investment, prices, a dependence on natural resources, lack of consumer goods, little foreign trade, public ownership of industrial assets, macroeconomic stability, low unemployment and high job security.
Deindustrialisation refers to the process of social and economic change caused by the removal or reduction of industrial activity and employment in a country or region, especially heavy industry or manufacturing industry. Deindustrialisation is common to all mature Western economies, as international trade, social changes, and urbanisation have changed the financial demographics after World War II. Phenomena such as the mechanisation of labour render industrial societies obsolete, and lead to the de-establishment of industrial communities.
