What You Should Know About the New Economy

Well, if you haven’t realized it by now, and yes, we are living and doing business in the New Economy. The basic idea behind this economy is that computer and Internet technology are fundamentally changing the way we are doing business.

Let us contrast the “old” with the “new”. Old economy differs from new economy in that it relies on traditional methods of doing business. On the other hand utilizes the new economy leveraging of new cutting-edge technology. This traditional economic system dates back to the Industrial Revolution and revolves around producing goods as opposed to the exchange of information (James Chen, Investopedia)

What is this New Economy?

New economy is a term often used in the media to describe changes that have taken place in business since the widespread adoption of the Internet. The term has been applied to a wide range of situations and issues. For example, the rise and fall of high-tech and Internet startup companies (inc.com).

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