Saturday, August 15, 2009
An old article on Scientific American
I just stumbled above an article on Scientific American with the title "The Service Sector of the U.S. Economy" on the March 1981 issue of the magazine. The Authors are Eli Ginzberg and George J Vojta. The article attracted my attention because although in 1981 it is almost impossible to imagine the fall of the East Block, the revolution of the information technology and the globalization that is resulted from all this, it do made some very remarkable predictions and accounts that when read today are almost prophetic. Two quote from the article: "Improvements in communications, particularly in processing and transmitting numerical data, facilitated the growth of large service companies in the postwar decades by linking together in single enterprises large numbers of small service establishments" and "The economics of these arrangements are based on the gains that the large service company can achieve through integrated planning, financing, accounting, marketing and similar functions." Well remarked, these words were written in 1981, far before the advent of personal computer, internet or cell phones.