New Economy


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New Economy

An informal term for the changes that came to developed economies during the late 1990s. The new economy came about largely as a result of the popularization of the Internet. For example, because of the new economy, online companies can provide information for free and derive their revenue from advertising. Likewise, many jobs can now be done anywhere. That is, many jobs no longer require one to be present in the office; for example, one can do work in Oklahoma for a company based in Pennsylvania. See also: Dot-com bubble.
References in periodicals archive ?
The New Economy has evolved as globally oriented, knowledge-dependent, innovation-driven and highly entrepreneurial.
Though the emergence and the impact of ICT, which includes computers, software, satellite communications, e-mail, and the internet have been investigated by scholars and policymakers in recent years, the strength of this collection lies in its systematic academic and policy-oriented investigation of the nature of the new economy and its role in the development process.
The turbulent New Economy is producing a workplace and supply chain focused on innovation and new choices.
He says African Americans have little information on how Cleveland's new economy will include them.
Use of the term "New Economy" to describe the information economy was probably unfortunate.
The New Economy still seems alive, if not quite as healthy as it was in the late 1990s.
In the late nineties, the San Francisco Bay Area was caught up in the mania of the high-tech, information-based "New Economy." Venture capitalists threw money at e-commerce start-ups based on dicey premises, while loss-making companies raked in millions at their initial public offerings.
Capitalizing on Innovation: Licensing and Transfer Pricing for Canada's New Economy argues that licensing and transfer pricing, when applied in tandem, have unparalleled potential in the new economy.
He begins by reminiscing on the turbulence of an earlier "new economy" of decades past.
To emphasize the difference that ICTs make in the way business is done--a combination of globalized communication and the commodification of information--various terms have been used to describe the new economy. There are, however, subtle differences of meaning among all these terms.
But, he insists, "We're not smashing the old--we are building on it." And, to Shiller, the "New Economy" wasn't so new, since he says every decade enters a new economy.
After a couple years of layoffs, bankruptcies and revelations that standard accounting practices do indeed serve a purpose, the phrase "new economy" is not thrown around as much as it was four or five years ago.

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