Sun 23 Jun, 2013 07:57 am
I've become something of a recent hobbyist, due to my interest around the areas of micro- and macroeconomics. I use the term "hobbyist", because I suspect the amount that I actually know and fully understand on the subject are the sum total of one course in college back around the time Nixon was in office, plus reading some pretty good books on economic theory more recently. Consequently the body of knowledge I actually possess would probably fill a thimble (with some room left over . . .).
A book I recently read (specifically which one exactly, now eludes me . . .), discussed the elements of national economic growth, and specifically focused on the long-term prospects for the United States, in a rapidly evolving global economy. The part of the book, and the construct I'm interested in recollecting, was what the terms are for the elements of national economic growth that can be exported for growing creation (principally goods and maybe some services) and the elements that necessarily cannot be easily exported (or at all), which would be things like infrastructure development, government, basic/maintenance services to the local population (food, utilities, other service industries). The book did a good job on differentiating these two areas, but it wasn't something simple like imports/exports, but for the life of me, I can't see to pinpoint what the terminology is for these two sources for expanding the national economy (although I have researched the recent books that I've read). Any help on this?