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A service based economy is made up primarily of service industries (rather than agriculture, minining, oil extraction or manufacturing. Services (in the economic sense) include a vast range of activities, from banking and insurance to shipping, tourism, restaurants and education. A service based economy is a fiction flogged by Reaganites, ivory tower economists and the Chinese-funded Brookings Institute and CFR that espouses the view that in the future when all capital equipment, consumer goods and weapon systems are being made in East Asia/Europe, companies in Beijing and Berlin will ring up American firms and hire them to consult/market/provide legal advice because Americans possess innate qualities that will allow them to dominate these services, despite not being able to make the goods.

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