Goods Producing Economy

Definition of Goods Producing Economy

The Canada social science dictionary [1] provides the following meaning of Goods Producing Economy: An economy whose central method of capital accumulation is the manufacture of goods for consumers (televisions), for public consumption (trains) or for private economic use (robots for building cars). It has been claimed for several years that western societies have passed through this goods producing, or industrial, stage and have now entered a new economy founded on the delivery of services and the production and dissemination of knowledge. See: SERVICE ECONOMY in this legal dictionary and in the world encyclopedia of law.

Goods Producing Economy: Resources

Notes and References

• Drislane, R., & Parkinson, G. (2016). (Concept of) Goods Producing Economy. Online dictionary of the social sciences. Open University of Canada