Services have become an increasingly important part of the US and the global economy. The services that can be purchased today range from hotel accommodations to temporary workers in business to health care. It is not that any of these services is new or unique, but the choices that consumers have between providers of these services has increased substantially. As the 21st century begins, there is a service revolution.
Compare THIS SERVICE REVOLUTION with the INDUSTRIAL REVOLUTION OF A CENTURY AGO.© BrainMass Inc. brainmass.com March 4, 2021, 7:33 pm ad1c9bdddf
The industrial revolution took place a hundred years ago because the European economy had become a global economy. The trade of Europe stretched to every part of the world except perhaps Antarctica.
On the other hand the current services revolution is taking place because of globalization and its related off shoring and outsourcing. What has happened in the developing countries is that high paying office jobs are being given to competent and less costly workers in South Asian Countries.
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