Post-Industrial Economy

Definition

A post-industrial economy refers to an economic system where the majority of employment and economic output is generated through services, information, and technology rather than manufacturing or agriculture. This shift marks a transition from traditional industrial production to a focus on knowledge-based industries.

Related terms

Globalization: The process of increased interconnectedness and integration among countries in terms of trade, culture, and communication.

Information Revolution: Refers to the rapid development of technology in recent decades that has transformed how information is created, processed, and shared.

Deindustrialization: The decline or loss of industrial activity in a region or country due to various factors such as technological advancements or outsourcing.