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The new economy - what is really new?

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  • Siebert, Horst

Abstract

This paper analyzes some of the elements of the new economy. What is really new is first of all the technological innovation. In economic terms what is new is a new product. The new IT product brought about by the new technology means two different things: a new device to handle data and to communicate and a new good "information". This should lead to an increase of productivity, to a larger production potential and to a higher growth rate. The new economy has implications for capital markets and especially for labor. Major issues are regulation and taxation.

Suggested Citation

  • Siebert, Horst, 2000. "The new economy - what is really new?," Kiel Working Papers 1000, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkwp:1000
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    File URL: https://www.econstor.eu/bitstream/10419/2480/1/kap1000.pdf
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Szalavetz, Andrea, 2002. "Az informatikai szektor és a felzárkózó gazdaságok [The informatics sector and the advancing economies]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 794-804.
    2. Gern, Klaus-Jürgen & Gottschalk, Jan & Kamps, Christophe & Sander, Birgit & Scheide, Joachim & Strauß, Hubert, 2000. "Weltwirtschaft unter Volldampf," Open Access Publications from Kiel Institute for the World Economy 2499, Kiel Institute for the World Economy (IfW Kiel).
    3. Laaser, Claus-Friedrich & Soltwedel, Rüdiger, 2001. "Raumstruktur und New Economy - zur Bedeutung von E-commerce für die Arbeitsteilung im Raum," Open Access Publications from Kiel Institute for the World Economy 2609, Kiel Institute for the World Economy (IfW Kiel).
    4. Klodt, Henning, 2001. "Die neue Ökonomie: Aufbruch und Umbruch," Open Access Publications from Kiel Institute for the World Economy 2575, Kiel Institute for the World Economy (IfW Kiel).
    5. Klodt, Henning, 2001. "The Essence of the New Economy," Kiel Discussion Papers 375, Kiel Institute for the World Economy (IfW Kiel).
    6. Hans-Günther Vieweg & Carsten Dreher & Herbert Hofmann & Steffen Kinkel & Gunter Lay & Ulrich Schmoch, 2002. "Mechanical engineering in the age of globalisation and the New Economy," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 9.
    7. Piazolo, Daniel, 2001. "The New Economy and the International Regulatory Framework," Kiel Working Papers 1030, Kiel Institute for the World Economy (IfW Kiel).
    8. DeAnne K. Hilfinger Messias & Linda Moneyham & Carolyn Murdaugh & Kenneth D. Phillips, 2006. "HIV/AIDS Peer Counselors’ Perspectives on Intervention Delivery Formats," Clinical Nursing Research, , vol. 15(3), pages 177-196, August.
    9. Almas Heshmati, 2003. "Productivity Growth, Efficiency and Outsourcing in Manufacturing and Service Industries," Journal of Economic Surveys, Wiley Blackwell, vol. 17(1), pages 79-112, February.
    10. Gern, Klaus-Jürgen & Meier, Carsten-Patrick & Scheide, Joachim, 2003. "Evidence of the new economy at the macroeconomic level and implications for monetary policy," Kiel Discussion Papers 401, Kiel Institute for the World Economy (IfW Kiel).

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    More about this item

    Keywords

    IT products; productivity effects; impact on growth and on labor; regulation; taxation; new technology;
    All these keywords.

    JEL classification:

    • D2 - Microeconomics - - Production and Organizations
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor
    • D0 - Microeconomics - - General

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