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Abstract
The aim of this article is twofold: to describe the cyclical evolution of the linkage between the industrial and the tertiary sector of the Italian economy from 1951 to 1988 and to assess the analytical meaning of this evolving linkage. This study is performed taking into account the main macro-economic indicators: investments, employment, value-added, of the agricultural, industrial and service sectors. This kind of research allows us to give a somewhat different interpretation of the growth of the Italian economy, stressing the importance of the .service sector, since mainstream economic interpretations usually play down its role.