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Strategies & Market Trends : The New Economy and its Winners
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To: Oeconomicus who wrote (8263)8/10/2001 1:54:56 PM
From: Bill Harmond  Read Replies (1) of 57684
 
>>I never believed anything was really "new" about the economy.

My definition of "new economy" is the new productivity-enhancing industries created by applied technology. There are plenty who will finger point and wag that there never was a new economy. There certainly is, just like there was a new economy introduced during the Industrial Revolution in the 1800's, and a new economy introduced by the New Deal.

The laws of economics are pretty-much set (although the faster the US economy grew during the last cycle the more efficient it became due to IT expansion it afforded...something AG has learned in retrospect), but the economy changes with structural changes, globalization, technological innovation and better analytical tools.
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