This term was used in the late 1990's to suggest that globalization and/or innovations in information technology had changed the way that the world economy works. Conjectures included changes in productivity, the inflation-unemployment tradeoff, the business cycle, and the valuation of enterprises.
Sectors of the economy that are knowledge/human-capital-based with the understanding the technology ultimately derives from human ingenuity. While human capital is a prime driver in the information technology and telecommunications sectors, it also has been responsible for significant improvements in productivity in more traditional industries such as automobiles, aircraft and agriculture.
Companies mostly in Internet, technology, telecommunications and other "new" businesses heavily reliant on technical innovation and intellectual capital. Until recently these businesses were thought by many to be immune from cyclical fluctuations. The stock "bubble" of the late Nineties-and its deflation in 2000-developed in this arena of industry.
the economy consisting of businesses that generate all or some of their revenues from the Internet or related goods and services
an often misunderstood term for the economy of the knowledge age. Sometimes misleadingly contrasted to the ‘old economy', it includes both emerging industries (like ICT, biotechnology and environmental management) and existing industries which are in the process of being transformed by the application of knowledge (like mining and manufacturing)
Generally refers to an economic system increasingly based upon information and communications technology, which is believed to greatly improve worker productivity. The new economy can be discussed at either the domestic or international level. Individuals or countries that participate in the new economy are said to be on the other side of the "digital divide" from those who work in the old economy.
A buzzword describing the new, high growth industries that are on the cutting edge of technology and are the driving force of economic growth.
New Economy was a term coined in late 1990s by pundits to describe what some thought was an evolution of the United States and other developed countries from an industrial/manufacturing-based wealth producing economy into a service sector wealth consuming asset based economy, with fewer job opportunities for the middle class arising partly from an overvaluation of technology stocks and partly from globalisation and currency manipulation by governnments and their central banks. At the time, some analysts claimed that this change in the economic structure of the United States had created a state of permanent steady growth, low unemployment, and immunity to boom-and-bust macroeconomic cycles. Furthermore, they believed that the change rendered obsolete many business practices.