I don't know enough about economics to know if this is original or not, but I came up with this idea independantly.
Different industries have different values based on their role in the overall economy. Basically there are two categories.
Producing industries and
enabling industries, and you can tell which category an industry is using the "perfect world filter".
The perfect world filter works like this, in a perfect world a certain kind of good or service would not be needed, therefore it is an enabling industry. For example healthcare. In a perfect world, no one would get sick, and no one would get hurt. So the healthcare industry wouldn't exist. Obviously we don't live in a perfect world so we need healthcare, but it is a useful tool to help categorize things. Other industries that would fit into the enabling column would be transportation (everything would already be where it is needed), education (everyone would already know what they needed to), and communication (similar to education, everyone would already know what the other person wanted to say).
Producing industries on the other hand would need to exist, even in a perfect world. Manufacturing would be needed to make stuff. Mining would be needed to collect resources. Even entertainment would exist.
I realize the "perfect world filter" seems a bit silly, but I think the resulting conclusions can be helpful for building an understanding of what kind of emphasis these different industries need put on them. Let's go back to healthcare. We need it. There are lots of sick and busted up people who would like to not be that way and healthcare makes that better. So until we really are in a perfect world we will need a healthcare industry. However, the smaller and more efficient it is the better off the whole economy is going to be. The less obtrusive it is in our lives the more time, energy, and resources can be put into other things that produce end results. This isn't an argument for spending less on healthcare. In fact in the short run it might mean spending more. What it does mean though is that given that the healthcare industry is a full third of the US economy it is ripe for massive disruptions that will bring it in line with its enabling nature.
On the other side manufacturing is a producing industry. Hypothetically it could be 50% of the whole economy and that wouldn't necessarily be a bad thing. It is bound to change and has been significantly with the advances in 3D manufacturing and advanced materials. However, there is no upside to making the industry smaller.
Putting it simply, when an industry, or part of an industry, is simply an enabler there is opportunity to streamline it. To make it smaller, and less obtrusive into the overall economic mix. A specific example of this is the impending tidal wave that is set to turn the transportation industry on its head. In 2014 there were a little over
5.7 million commercial drivers in the US. Self driving technology is set to take most of those jobs in the next 20 years. The transportation and logistics industry is worth
1.33 trillion dollars a year. So if those 5.7 million drivers were replaced by automation at a savings of say $10,000 a year per driver (which I think is conservative) it would cut overall transportation spending by $570 billion dollars or 44%. Imagine that. An industry that makes up about 8% of the entire us GDP being cut in almost half. That is a huge shift.
That is why I think this concept of producing and enabling industries is important. It allows us to see which industries are potentially on the chopping block for enormous upheaval and shrinking.