These essays discuss the service sector and causes, problems and prospects of replacing the manufacturing business.

Foreword; Acknowledgments; Introduction and overview Robert P. Inman; Part I. Role of Service in World Economics: 1. Services in the international economy Robert Summers; Comment Jere R. Behrman; 2. Services in the Japanese economy Gary R. Saxonhouse; Comment Hugh Patrick; 3. Services in the US economy Irving Leverson; Comment Duncan Mann; Open discussion; Part II. Service Productivity, Trade, and Market Structure: 4. Measurement of output and productivity in the service sector John W. Kendrick; Comment William J. Baumol, Charles R. Hullen and Janet L. Norwood; 5. Services in world transactions Irving B. Kravis; 6. US trade policy and international service transactions Helena Stalson; Comment Joan E. Spero; 7. The provision of services in a market economy Bergt Holmstrom; Comment Andrew Postlewaite; Open discussion; Part III. Analyses of Service Industries: The Finance, Health Care, and Government Sectors: 8. The future for financial services Fischer Black; Comment Irwin Friend and Mark J. Flannery; 9. Competition and equilibrium as a driving force in the health services sector Mark A. Satterwaite; Comment Jeffrey Harris; 10. Government services Edward M. Granlich; Comment Robert P. Inman; Open discussion; Part IV. The Future of Research and Policy for the Service Economy: 11. Productivity policy and the service sector William J. Baumol; 12. An agenda for research on the service sector Victor R. Fuchs; Open discussion; Author index; Subject index.