Industrial Structure and Economic Growth : A Refutation of Clark's Law
Language: English
Published by Royal Collins Publishing Company Aug 2022, 2022
- Hardcover
- New
Seller: AHA-BUCH GmbH, Einbeck, GermanyAHA-BUCH GmbH
AbeBooks seller since August 14, 2006
Condition: New
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Add to basketItem description from seller
Neuware - With the rise of the service sector in recent decades, many economists have forecast the dawning of the post-industrial society. Much of this speculation is based on the theoretical premises laid out in Clark's Law--a key hypothesis in conventional economic theory. However, this Law is refuted by Professor Ruyu Zhao, the author of this title. He delves deep into the premises behind this economic theory, analysing the data sets used by Clark and other notable economists that followed in his footsteps. The author draws on considerable empirical evidence across the globe over the last two centuries, citing the Japanese debt-crisis of the early 1990s, the Asian Financial Crisis of 1997/98, and the US subprime mortgage crisis, as key events that refute Clark's Law. In rebuttal to the post-industrial society hypothesis, he rejects measuring an economy's development based on the size of its service sector, asserting that industry is always at the heart of the real economy. Professor Zhao also proposes a new theoretical paradigm which recognizes the inherent importance of industry, instead of services, in a healthy modern economy.…
Seller Inventory # 9781487809645
- Title
- Industrial Structure and Economic Growth : A Refutation of Clark's Law
- Author
- Ruyu Zhao
- Publisher
- Royal Collins Publishing Company Aug 2022
- Publication year
- 2022
- Condition
- Neu
- Binding
- Buch
- Language
- English
- ISBN 10
- 1487809646
- ISBN 13
- 9781487809645
- Item weight
- 363 grams
- Dimensions
- 216x148x18 mm
In rebuttal to the post-industrial society hypothesis, he rejects measuring an economy's development based on the size of its service sector, asserting that industry is always at the heart of the real economy. Professor Zhao also proposes a new theoretical paradigm which recognizes the inherent importance of industry, instead of services, in a healthy modern economy.
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