The New Economy Macroeconomics : The Late Golden “Age of Diminished Expectations”? = Yeni Ekonomi Makroekonomisi : Son Altın “Azalan Bekleyişler” Çağı?

• Main Author: Bilal SAVAŞ
• Format: Article
• Language: English
• Published: Dogus University 2004-01-01
• Series: Doğuş Üniversitesi Dergisi
• Subjects: New economy; Productivity growth; Information and communication technology (ICT); Yeni ekonomi; Üretkenlik büyümesi; Enformasyon ve komünikasyon teknolojisi (EKT)
• Online Access: http://journal.dogus.edu.tr/index.php/duj/article/view/168

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.