I know that there are primary sector (raw resources) and secondary (manufacturing). The first one is deriving value from land (agriculture or digging stuff up). The second one is creating value by adding work (making chairs out of extracted metal). But service sector sounds like creating value out of thin air.
In: 0
Look at it from your home perspective:
The first sector gives you the food for the kitchen.
The second sector makes the kitchen, furniture, builds the house, tv and computer, and gives you electricity/gas.
The third allows you to: have a doctor, consult an interior designer, plan your neighbor to look good and be efficient and nice to live in, provide bus service, a mechanic for your car, a shopping mall, tv programs to watch, games to play, movies, books, art, life/car/house insurance, bank account, trading platforms, e-commerce, deliveries, take away food, restaurants, movie theaters, news.
It’s the sector that produces most of the “quality of living” things.
Back in the ancient time, you had first: hunter/gatherers, second: crafters, third: shaman, singers, musicians, artists. Imagine the hunter/gatherers and the crafters finally resting in the evening, and sharing their food and products with the shaman and artists that prepared the bonfire. That’s the third sector purpose.
Third sector has always been there. It just became really really big. Look at the third sector value not as a “creating value” sector, but a “worth spending your spare money for it” sector. And because technology made us richer, we have more spare money to throw in those services. A lot more than feeding a single shaman out of 100 villagers. More like having a couple of personal serfs for each first/second sector worker.
Latest Answers