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On Goods and Services

Bibliographic Data

ID23360321
AuthorsT P Hill (University of East Anglia, corresponding author)
Year1977
Volume23
Issue4
Pages315-338
Publication date1977-12-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueReview of Income and Wealth (JOURNAL)
Journal identifiersISSN: 0034-6586 • E-ISSN: 1475-4991
PublisherWiley (PUBLISHER • GB)
DOI10.1111/j.1475-4991.1977.tb00021.x
OpenAlexW2151517224
LanguageEN
Citations received62

The paper is concerned with the concept, definition and measurement of a service. Although services are often dismissed as immaterial goods, they are not special kinds of goods and belong in a quite different logical category from goods. The search for appropriate units of quantity in which to measure services is not an idle metaphysical pursuit. Without quantity units there can be no prices, and most economic theory becomes irrelevant. Indeed, large parts of economic theory may be irrelevant to the analysis of services anyway, precisely because they are not goods which can be exchanged among economic units. Services are as important as goods in modern developed economies and they need to be identified and quantified properly if the measurement of economic growth and inflation is to have any meaning for the economy as a whole. The concept of a service is explained in some detail in the paper, and various ways in which services can be classified for purposes of economic analysis are elaborated. The distinction between private and public goods, or rather between private and collective services, is re‐examined in the light of the general concept of a service proposed in the paper. Externalities are shown to be simply special kinds of services.

Economics · Economy · Externality · Goods and services · Inflation (cosmology) · Intangible good · Meaning (existential) · Microeconomics · Private good · Public economics · Public good · Service (business) · Economic Theory and Institutions

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Unique citing works62
Citations per year1,68
Citation span1989 - 2025 (37)
Citation velocityrecent
Highly citedNo
Citation typesNeutral: 51

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