Old Economic Logic in the New Economy

The unusually strong performance of the American economy has prompted a debate about whether there is a "new economy." However, the real debate is not whether the American economy has changed—it clearly has—but rather whether these changes have fundamentally altered the historical relation...

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Bibliographic Details
Published in:California management review 1999-07, Vol.41 (4), p.8-16
Main Author: Tyson, Laura D'Andrea
Format: Article
Language:English
Subjects:
Business
Business & Public Policy
Business strategies
Change
Economic conditions
Economic growth
Economic growth rate
Economic inflation
Economic policy
Economic statistics
Economic thought
Economic trends
Economics
Economists
Electric power
Inflation
Inflation rates
Information technology
International economics
Internet
Labor force
Labor market
Macroeconomics
Management
Management science
Prices
Productivity
Productivity growth
Public Policy
Statistical analysis
Supply & demand
Technological change
Unemployment
Unemployment rates
United States
Wages & salaries
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Summary:The unusually strong performance of the American economy has prompted a debate about whether there is a "new economy." However, the real debate is not whether the American economy has changed—it clearly has—but rather whether these changes have fundamentally altered the historical relationship between inflation and unemployment or have affected the economy's maximum rate of growth. While technological advances and globalization do appear to have created the potential for better economic performance, sound domestic and international economic policies remain essential.
ISSN:0008-1256
2162-8564
DOI:10.2307/41166006