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The New Old Economy

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  • Bill Martin

Abstract

Consensus opinion sees the U.S. economy growing by around 3 percent per year over the next few years, a high enough rate to keep unemployment low and outpace Europe. One problem with the consensus view is that it pays little heed to the very unusual nature of the American expansion. A minor downturn prompted by a bit of inflation and higher interest rates is one thing, and easily fixed by conventional means. But America's boom was unique and so, alas, will be its bust.

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  • Bill Martin, "undated". "The New Old Economy," Economics Policy Note Archive 01-7, Levy Economics Institute.
    • Handle: RePEc:lev:levypn:01-7
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    Cited by:

    1. Neumark, David & Reed, Deborah, 2004. "Employment relationships in the new economy," Labour Economics, Elsevier, vol. 11(1), pages 1-31, February.
    2. Dohse, Dirk, 2002. "The geography of new market firms in Germany," ERSA conference papers ersa02p199, European Regional Science Association.
    3. Hélène Baudchon, 2002. "The Aftermath of the "New Economy" Bust : a Case Study of Five OECD Countries," Documents de Travail de l'OFCE 2002-08, Observatoire Francais des Conjonctures Economiques (OFCE).
    4. Harald Bathelt & Andersand Malmberg & Peter Maskell, 2002. "Clusters and Knowledge Local Buzz, Global Pipelines and the Process of Knowledge Creation," DRUID Working Papers 02-12, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.

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