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New Economy, New Era
A buzzword that describes the new, high growth technology companies that are expected to revolutionize the economy, and trounce old economy companies. At the height of every financial bubble, people will claim that “We are in a New Economy”, or some variation. The New Economy was the term used in the 2000 bubble. In 1929, people claimed that “We are in a New Era”. The main theory of the New Economy was that the business cycle was dead and that all of the old economic rules don’t apply.
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