The New Economy Macroeconomics : The Late Golden “Age of Diminished Expectations”? = Yeni Ekonomi Makroekonomisi : Son Altın “Azalan Bekleyişler” Çağı?
The remarkable economic success of the US in the late 1990s led many economists to talk about a 'New Economy', according to which technological advances had brought on a higher sustained level of productivity growth that allowed faster economic growth with less inflation, and very low unem...
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| Format: | Article |
| Language: | English |
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Dogus University
2004-01-01
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| Series: | Doğuş Üniversitesi Dergisi |
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| Online Access: | http://journal.dogus.edu.tr/index.php/duj/article/view/168 |
| Summary: | The remarkable economic success of the US in the late 1990s led many economists to talk about a 'New Economy', according to which technological advances had brought on a higher sustained level of productivity growth that allowed faster economic growth with less inflation, and very low unemployment. But given the events since 2000-the long, steep stock market downturn, the falloff in business investment and the subsequent recession-many questions arose based on whether anything in the New Economy view is valid. This essay provides a detailed overview of the main issues, many of them closely linked to the rise of the Internet. |
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| ISSN: | 1302-6739 1308-6979 |