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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: About.Com Resources on The New Economy:
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