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8 Facts About Post-Industrial Economy

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A post-industrial economy refers to a period of growth within an industrialized economy or nation in which the relative importance of manufacturing reduces and that of services, information, and research grows.

Industrialisation or industrialization is the period of social and economic change that transforms a human group from an agrarian society into an industrial society, involving the extensive re-organisation of an economy for the purpose of manufacturing.

Manufacturing is the value added production of merchandise for use or sale using labour and machines, tools, chemical and biological processing, or formulation.

An economy is an area of the production, distribution, or trade, and consumption of goods and services by different agents in a given geographical location.

Economy Stories – The post-industrial revolution by Deutsche Bank

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Such economies are often marked by:

The Industrial Economy: Crash Course US History #23 by CrashCourse

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A declining manufacturing sector, resulting in de-industrialization.

Deindustrialization or deindustrialisation 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 heavy industry or manufacturing industry.

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A large service sector.

The tertiary sector or service sector is the third of the three economic sectors of the three-sector theory.

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An increase in the amount of information technology, often leading to an "information age".

The Information Age is a period in human history characterized by the shift from traditional industry that the Industrial Revolution brought through industrialization, to an economy based on information computerization.

Information technology is the application of computers to store, study, retrieve, transmit, and manipulate data, or information, often in the context of a business or other enterprise.

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Information, knowledge, and creativity are the new raw materials of such an economy.

A raw material, also known as a feedstock or most correctly unprocessed material, is a basic material that is used to produce goods, finished products, energy, or intermediate materials which are feedstock for future finished products.

Knowledge is a familiarity, awareness or understanding of someone or something, such as facts, information, descriptions, or skills, which is acquired through experience or education by perceiving, discovering, or learning.

Creativity is a phenomenon whereby something new and somehow valuable is formed.

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The industry aspect of a post-industrial economy is sent into less developed nations which manufacture what is needed at lower costs.

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This occurrence is typical of nations that industrialized in the past such as the United Kingdom, most of Western Europe and the United States.

The United States of America, commonly referred to as the United States or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom or Britain, is a sovereign country in western Europe.

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