FROM ISSUE NUMBER 2 - WINTER 1966 GO TO TABLE OF CONTENTS

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The first service economy

VICTOR R. FUCHS

The United States is now pioneering in a new stage of economic growth. At some point during the past decade, this country became the first “service economy”– that is, it became the first nation in which more than half of the employed population was not involved in the production of food, clothing, houses, automobiles, or other tangible goods.

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