Definition of The New Economy

Definition: The new economy is a proper noun, describing one of several aspects of the late 1990s. Lipsey (2001) has discerned these meanings:

1. An economy characterized by the absence of business cycles or inflations.

2. The industry sectors producing computers and related goods and presumably services such as e-commerce.

3. An economy characterized by an accelerated rate of productivity growth.

4. The "full effects on social, economic, and political systems of the [information and communications technologies] revolution" centered on the computer. This is Lipsey's meaning.

Terms related to The New Economy:

• Real Business Cycle
• Business Cycle Frequency
• Unemployment

About.Com Resources on The New Economy:

• What is the Business Cycle?
• A Beginner's Guide to Economic Indicators
• Recession? Depression? What's the difference? Writing a Term Paper? Here are a few starting points for research on The New Economy:

  Journal Articles on The New Economy:

  • Does the “New Economy” Measure Up to the Great Inventions of the Past?
  • Capturing value from knowledge assets: the new economy, markets for know-how, and intangible assets
  • America and the new economy