Post-industrialization

Definition

Post-industrialization is an economic shift from manufacturing-based industries to service-based industries, along with an increase in information-driven sectors.

Analogy

If you think about your favorite video game evolving from basic graphics (industrial era) to high-definition 3D graphics (post-industrial era), that's similar to how economies have evolved from focusing on manufacturing goods to providing services and information.

Related terms

Service Sector: The part of the economy that produces intangible goods. Like your school librarian who doesn't make books but provides knowledge and assistance.

Information Technology: The use of computers and telecommunications equipment to store, retrieve, transmit and manipulate data. It’s like using Google Drive instead of physical files for storing your homework assignments.

Knowledge Economy: An economy where wealth is created through efficient management of knowledge workers instead of by industrial production. Imagine if grades were given based on how well you manage group projects rather than individual tests!