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The real sector; the real economy

English translation: manufacturing, the industrial economy / rather than intangibles

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:The real sector; the real economy
English translation:manufacturing, the industrial economy / rather than intangibles
Entered by: Dave Calderhead
Options:
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- Include in personal glossary

16:37 May 4, 2006
English to English translations [PRO]
Bus/Financial - Finance (general) / general economics
English term or phrase: The real sector; the real economy
The same context as my prior question on "economic activity." The phrases "real sector", "real economy" strike me not only as bureaucratic, but also as vaguely Soviet-bloc. Am I right or wrong?

The way I understand it, under "real sector" et c. the writer has in mind industry and farming. Are services included, or are they in a "metaphysical sector"..? And what else is included, or indeed excluded?
Peter Skipp
Local time: 00:11
manufacturing, the industrial economy
Explanation:
as opposed to the intangibles such as insurance and financial imports and exports
Selected response from:

Dave Calderhead
Netherlands
Local time: 01:11
Grading comment
A real poser here. All answers are excellent, with Dave being selected by peer approval. Victor's and Derek's were there, too. Thank you, guys!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +4manufacturing, the industrial economy
Dave Calderhead
4 +1All industries except for financial services.Victor Potapov
4could be as opposed to 'market economy'Alexander Demyanov
3could it be real ESTATE sector/economy?Andrey Belousov
1producers
Derek Gill Franßen


Discussion entries: 3





  

Answers


10 mins   confidence: Answerer confidence 1/5Answerer confidence 1/5
the real sector; the real economy
producers


Explanation:
I'm guessing here...

Based on your description (I haven't looked elsewhere yet), I would also understand this to mean producers, i.e. those who produce a tangible product.

Otherwise, I probably would have thought it was meant to differentiate between "legal" transactions and those meant to circumvent taxation, i.e. the black market.
:-)

Derek Gill Franßen
Germany
Local time: 01:11
Specializes in field
Native speaker of: English
PRO pts in category: 8
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3 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
the real sector; the real economy
could it be real ESTATE sector/economy?


Explanation:
?

--------------------------------------------------
Note added at 4 mins (2006-05-04 16:42:14 GMT)
--------------------------------------------------

Maybe that's what's meant there?

--------------------------------------------------
Note added at 13 mins (2006-05-04 16:51:10 GMT)
--------------------------------------------------

Could it be opposed to the so-called "black" economy?

Andrey Belousov
United States
Local time: 19:11
Specializes in field
Native speaker of: Russian
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14 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
the real sector; the real economy
could be as opposed to 'market economy'


Explanation:
Real economy is "wider".

See a discussion here: http://www.ussee.org/working_papers/Costanza_Real_Economy.pd...

Alexander Demyanov
Local time: 19:11
Works in field
Native speaker of: Native in RussianRussian
PRO pts in category: 22
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16 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +4
the real sector; the real economy
manufacturing, the industrial economy


Explanation:
as opposed to the intangibles such as insurance and financial imports and exports

Dave Calderhead
Netherlands
Local time: 01:11
Specializes in field
Native speaker of: English
PRO pts in category: 50
Grading comment
A real poser here. All answers are excellent, with Dave being selected by peer approval. Victor's and Derek's were there, too. Thank you, guys!

Peer comments on this answer (and responses from the answerer)
agree  Arkadi Burkov: In Russian (if this can be of any help, of course:) the same phrase refers to the tangibles (anything "real") as opposed to insurance, financial imports, etc.
19 mins
  -> Thanks, Rakardi (:-{)>

agree  Derek Gill Franßen: Yes, this is what I meant (you approached it from the other end). :-)
25 mins
  -> Thanks, Derek (:-{)>

agree  MikeGarcia: It's manufacturing plus agriculture plus cattle raising plus anything that relates to tangible goods. Bingo for you!
52 mins
  -> Thanks, Miguel (:-|)>

neutral  Alexander Demyanov: Services are definitely parts of "real economy". //If you exclude services then a grocery store is not in real economy.
53 mins
  -> Thanks, Alexander (:-{)> I don't think I explicitly exclude service industries, although they are a grey area considered by some to be part of the intangibles // grocery stores are retail outlets for tangible products -

agree  Isodynamia
2 hrs
  -> Thanks, Constantina (:-{)>
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
the real sector; the real economy
All industries except for financial services.


Explanation:
I think the term is overused by the Soviet/Russian officials (and, from my interpreting experience, by officials of other states dealing with Russia - for some obscure reason. Do they try to look/sound more Russian than the locals?)

Anyway, I think "real economy" includes both manufacturing and services - except for financial services that deal purely with flows of money/securities. In my understanding that would exclude:

- banking services
- securities trading
- insurance companies
- and potentially something else I cannot recall now.

:-)


I have ran a simple Google search (link #1) on +"real economy" - and even though I was afraid it will turn up a heap of advertising trash like "tangible, real economy!" - but luckily most of the links make business sense.

Link #2 is the research paper that bears me out with the meaning of "real economy".

But, as Scott Adams (author of "Dilbert") puts it, BOCTAOE - but of course there are obvious exceptions.

Best regards & good luck.



    Reference: http://www.google.ru/search?q=%2B%22real+economy%22&start=0&...
    Reference: http://www.nber.org/papers/W11193
Victor Potapov
Russian Federation
Local time: 04:11
Specializes in field
Native speaker of: Native in RussianRussian
PRO pts in category: 39

Peer comments on this answer (and responses from the answerer)
agree  Arkadi Burkov: a comprehensive explanation (as always:)
14 hrs
  -> Thanks, Rakardi! As usual, glad to receive your feedback! :-)
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