History
NAICS is a collaborative effort by Mexico’s Instituto Nacional de Estadística, Geografía Informática (INEGI), Statistics Canada, and the United States Office of Management and Budget (OMB), through its Economic Classification Policy Committee (ECPC), staffed by the Bureau of Economic Analysis (BEA), the Bureau of Labor Statistics (BLS), and the Census Bureau. The system is designed to be largely compatible with the United Nations Statistical Office's International Standard Industrial Classification System (ISIC). Versions are released every five years.
With the first version, released in 1997, NAICS offered enhanced coverage of the service sector, relative to SIC. The 2002 revision accommodated significant changes in the Information Sector. The upcoming revision in 2012 will address classification challenges stemming from factoryless production.
Read more about this topic: North American Industry Classification System
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“There is a history in all men’s lives,
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As yet not come to life.”
—William Shakespeare (1564–1616)
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“Modern Western thought will pass into history and be incorporated in it, will have its influence and its place, just as our body will pass into the composition of grass, of sheep, of cutlets, and of men. We do not like that kind of immortality, but what is to be done about it?”
—Alexander Herzen (1812–1870)