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The New Economy refers to the ongoing development of the American economic system. It evolved from the notions of the classical economy via the transition from a manufacturing-based economy to a service-based economy, and has been driven by new technology and innovations. This popular use of the term emerged during the dot-com bubble of the late 1990s, where high growth, low inflation, and high employment of this period led to optimistic predictions and flawed business plans.[2][3][4]
- ^ Current account balance, U.S. dollars, Billions from International Monetary Fund World Economic Outlook Database. Report for Selected Countries and Subjects. April 2008
- ^ Mystery Solved. Newsweek, Jan 28, 2001.
- ^ Top 10 Buzzwords. By Kent German. A CNET article (2001) joking at the "new economy" beliefs.
- ^ The New Economy Was a Myth, Right? Wrong. By James Surowiecki. Wired article on the aftermath of the [dot-com bubble] criticizing the new economy critics.