The service economy: ‘wealth without resource consumption’?

Abstract

The present economy is not sustainable with regard to its per capita material consumption in the industrialized countries. A dematerialization of the economy of industrialized countries can only be achieved by a change in course, from an industrial economy where success is measured in throughput and its exchange value, to a service economy where success is measured in wealth (stock) and its usage value. Wealth management, new corporate and industrial design strategies and different economic policies can lead to a higher sustainability as well as an increased international competitiveness due to a substantially higher resource productivity. The term ‘service economy’ refers not to the tertiary sector, but to an economy where the majority of value is created by services and the majority of jobs are in service activities.