Economy
The economy of Ballarat is driven by all three economic sectors, though contemporary Ballarat has emerged as a primarily service economy with its main industry being the service industry and its key areas of business including tourism, hospitality, retail, professional services, government administration and education. Secondary industry including manufacturing, which had grown in the 20th century remains an important sector. The city's historic primary industry roots including mining and agriculture continue to play a role, though one that has declined since the 20th century. Industries emerging this century include information technology service sector and renewable energy.
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Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)