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Describe the move from a manufacturing-based to a service-based economy and discuss its impact on American workers.What have we lost? What have we gained?
Ideal
Net Domestic Product
Gross domestic product minus depreciation.
Depreciation
The process by which the value of an asset decreases over time, often due to wear and tear or obsolescence.
Transfer Payments
Payments made by the government to individuals without the expectation of goods or services in return, such as welfare benefits and social security.
Depreciation
The process through which the value of assets decreases over time due to use, wear and tear, or obsolescence.
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