The New Economy Is Here

"What is the evidence, and what does it mean?" Bill James

These observations were made by Nuala Beck in the early 1990's:

• More Canadians work in the computer services industry than in the auto industry;
• More British Columbians work in the communications and telecommunications industry than in forestry;
• More Albertans work in the financial services industry than in the oil and gas industry;
• More Quebeckers work in the health and medical-care industry than in the construction, textile, clothing, furniture, automotive, forestry and mining industries combined;
• More Nova Scotians work as teachers and university professors than as fish-processing workers, miners, forestry, pulp-and-paper and construction workers combined;
• More Canadians work in the electronics industry than in pulp-and-paper;

I've taken the above from Nuala Beck's book Shifting Gears: Thriving in the New Economy (Toronto: HarperCollins, October 1992, pp. 68-9 and the back of the cover jacket) and from an article in Canadian Business magazine (Dec 1991 issue, pp. 35-6) which was reporting Nuala Beck's research. The Shifting Gears book contains several more comparisons.

A table in the Dec 1991 Canadian Business article (p. 37) gave more details about the "four engines of growth" of the new economy (its source was Nuala Beck & Associates Inc.):

• Computers and semiconductors
  • Computer Equipment
  • Semiconductors
  • Electronic Components
  • Software
  • Information services
• Health and Medical
  • Medical Care
  • Surgical and medical instruments
  • Surgical appliances and supplies
  • X-ray and electromedical apparatus
  • Biological products
  • Medicinals and drugs
• Communications and Telecommunications
  • Telecommunications services
  • Telephone equipment
  • Radio and microwave communications
  • Entertainment
  • Aircraft equipment
  • Guided missiles and space vehicles
• Instrumentation
  • Process control instruments
  • Industrial controls
  • Optical instruments and lenses
  • Engineering and scientific instruments
  • Instruments to measure electricity
  • Measuring and controlling devices
  • Environmental monitoring equipment

A similar list is in the Shifting Gears book.

By 1990, almost 70% of Canadian incomes came from producing services, while only 3% came from agriculture:

  Output by sector (% of GDP, 1990 or latest year available)
       USA: Agriculture 2%, Industry 29%, Services 69%
    Canada: Agriculture 3%, Industry 30%, Services 67%
    France: Agriculture 3%, Industry 29%, Services 67%
   Germany: Agriculture 2%, Industry 37%, Services 62%
        UK: Agriculture 2%, Industry 37%, Services 62%
     Japan: Agriculture 3%, Industry 41%, Services 56%
  Source: The Economist Guide to Economic Indicators, p. 102
          (its sources: OECD, World Bank)

• My review of Shifting Gears
• Link to my Canadian Politics and Economics page.

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Last Updated: 1997 July 19

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Copyright © 1997 Stephen Tomlinson http://www.stephent.com/cdnecon/newecon.html