From: lessgovt@gmail.com   
      
   Service economy can refer to one or both of two recent economic developments:   
      
   1.) The increased importance of the service sector in industrialized   
   economies.    
   The current list of Fortune 500 companies contains more service companies and    
   fewer manufacturers than in previous decades.   
      
   2.) The relative importance of service in a product offering. The service   
   economy    
   in developing countries is mostly concentrated in financial services,   
   hospitality,    
   retail, health, human services, information technology and education. Products    
   today have a higher service component than in previous decades. In the   
   management    
   literature this is referred to as the servitization of products or a   
   product-service    
   system. Virtually every product today has a service component to it.   
      
   The old dichotomy between product and service has been replaced by a Service    
   (economics) service–product continuum. Many products are being transformed   
   into services.   
      
   For example, IBM treats its business as a service business. Although it still    
   manufactures computers, it sees the physical goods as a small part of the    
   "business solutions" industry. They have found that the price elasticity of   
   demand    
   for "business solutions" is much less than for hardware. There has been a   
   corresponding    
   shift to a subscription pricing model. Rather than receiving a single payment   
   for a    
   piece of manufactured equipment, many manufacturers are now receiving a steady   
   stream    
   of revenue for ongoing contracts.   
      
   Full cost accounting and most accounting reform and monetary reform measures   
   are    
   usually thought to be impossible to achieve without a good model of the   
   service economy.   
      
   Since the 1950s, the global economy has undergone a structural transformation.    
   For this change, the American economist Victor R. Fuchs called it “the   
   service economy”    
   in 1968. He believes that the United States has taken the lead in entering the   
   service    
   economy and society in the Western countries. The declaration heralded the   
   arrival of    
   a service economy that began in the United States on a global scale. With the   
   rapid    
   development of information technology, the service economy has also shown new    
   development trends.   
      
   https://en.wikipedia.org/wiki/Service_economy   
      
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    * Origin: you cannot sedate... all the things you hate (1:229/2)