Mass services as a job creation engine

They create large new markets through low prices and rapid employment opportunities; needed policy interventions to tap their potential

Industrial technologies such as assembly lines and flexible packaging drove the growth of mass manufacturing in the 20th century. As a result, products became available at more and more affordable prices, driving mass consumption of a vast array of consumer durables and packaged goods. Similarly, in the 21st century, digital technologies are transforming the cost-price equation for services and driving the growth of mass services. Telecom, financial services and aviation services are now being packaged into consumption units and are becoming affordable for billions of consumers. With more services available at a lower cost, consumption goes up, jobs get created