Industry in the Developed Countries

Definition of New Industrial Economy

The post-industrial economy is defined as the period of growth within the industrialized economy or the nation wherein the relative importance of the manufacturing helps in reducing along with that of the different services, research or the information which is grown from the same. Such kinds of economics are being often marked by the declining manufacturing-related sector and it helps in the resulting in the de-industrialization as well. The industry of the post-industrial economy is sent into less developed kind of nations which helps in manufacturing which is being required at lower costs and such kind of occurrence is typical in nature of the nations which industrialized in the past scenario such as the United Kingdom as well as most of Western Europe along with the United States.

How New Industrial Economy Works?

The main objective of the New Industrial Economy policy is to augment industrial production and thereby it helps in enhancing the industrial growth that leads to the economic growth through the optimal utilization of the resources, modernization along with balanced industrial development along with balanced regional development through providing the different kinds of concession for the overall industrial economy development in an effective manner. The main aspect of the pst-industrial economy is sent in the less developed nations that manufacture which is required at the lower costs and it will be enhancing the overall growth of the economy in a positive manner.

In addition, the main aspect of the industrial economy is to develop along with maintaining health as well as good relationships between the different employees along with employers or the different other operatives. The industrial economy is the sum total of the attitude of the management towards the labor along with the attitude of the different laborers towards the different policies of the management along with practices that will be affecting the interests of the different employees in a positive and appropriate manner.

Difference between the industrial economy and information economy

The industrial economy helps in concerning relating to the different activities combining factors of the production which includes facilities that will be assisting in producing the different materials and goods intended for the market. The distinction is made between the manufacturing industries along with the extraction related industries and it helps in the overall analysis of the industry which will be generating huge effectiveness in the market in a proper manner. A post-industrial economy refers to the period of growth along with the industrialized kind of economy that will be enhancing the effectiveness of the market wherein there is a reduction in the manufacturing aspects and of the different services which are present in the market as well.

On the other hand, the information economy is the aspect that is related to the post-industrial aspect and it helps in defining the increased emphasis that has been provided on the informational related activities along with information related industry as well. As commented by the different authors, it can be seen that the through the information economy, it will be inclusive of the different kinds of transformations some industries have undergone and it includes the fact that it includes late capitalism, post Fordism along with the global economy which is among the most frequently used terms in an effective manner.

Difference between industrial Organizations industrial-economic

The industrial organization is defined as the field of economics which deals with the strategic kind of behavior of the different forms, antitrust policy along with the different regulatory policies as well as market competition in a positive manner. The industrial organization applies the economic theory of the price to the different industries in a proper manner which will be beneficial in improving the overall effectiveness of the firms. Industrial Organization is the field of dealing with the different economics which is dealing with the strategic kind of behavior along with market competition that enhances the overall growth of the firms in a positive and appropriate manner.

On the other hand, the industrial economies in the actual study of the firms along with industries that will be making it effective. It looks at the firms of the different sizes such as from the local corner shops along with multinational giants that will be enhancing the growth of the firm in a positive manner and it will be considering the different range of industries such as Tesco and Wal-Mart which will be enhancing the growth of the firms in a positive manner. While analyzing the decisions at the different levels of the different individual firms along with industry and industrial economics helps in understanding the different issues which is related to analysis of the level of the capacity or the output as well as the extent that the products which are differentiated from one another and how and why firms advertise the different aspects in a positive or negative aspect.

Why did the industrial economy have labor unions while the information economy does not?

The industrial economy has the different labor unions as it is beneficial for the different workers in the companies and it enhances the improvement in the wages as well as the different other benefits which are included in the same. The labor unions help in improving the working conditions which helped in creating the middle class. Unions help in raising the wages for the different workers that will be improving the working conditions in a positive manner.

On the other hand, the information economy does not have labor unions as the main emphasis in the respective aspect is related to the different kinds of information generation that will be helpful for the entire society that will be characterizing the different kinds of transformations that will be helpful for the overall growth of the company in comparison to the other competitors in the market. There are different kinds of characteristics such as the global economy in which the labor unions are not required and it will be enhancing the overall effectiveness of the company in a negative manner.

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