Rethinking The New Economy

from the this-time-it's-real? dept

In the late 90s everyone started talking up the “new economy”. Then, in the past two years, it’s seemed that the “new economy” was more of a punch line than a real idea. Here, however, are two articles that suggest that maybe we shouldn’t be trashing the new economy so quickly. First is an MSNBC article saying that productivity gains from technology have been very helpful and have kept this recession from being as painful as it could have been. The article suggests that we still have a lot of upward movement thanks to technology. This other article, from NewsFactor Network, however, is less optimistic. It paints both sides of the picture talking to some who seem to believe that productivity gains have made this a short and easy recovery – but also talking to people who think the worst is still yet to come. However, they do mention that even in these bad times there is some evidence that productivity has gone up – which is, of course, the opposite of what usually happens.

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