The New Economy and Beyond: Past, Present and Future

What is the New Economy, what makes it new, and what are the implications for antitrust, regulation and macroeconomic policy? Providing a non-technical and compelling analysis of the modern macro-economy, the contributors to this volume, eminent scholars all, provide their views on the New Economy from a variety of perspectives. The phrase "The New Economy" means many things to many people. It is often used to refer to the information economy, the high-tech economy, or to the explosive growth of the World Wide Web. It has also been used to refer to the expansion and stock market boom of the last decade. Despite these confusions and excesses in the term's usage, there is indeed something new about the New Economy. The initial set of three chapters explores what may be the defining feature - the resurgence of productivity growth in the United States in the 1990s and its link to the IT revolution. Macroeconomic policy challenges are also discussed. The second set of papers...