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Essay / Research Paper Abstract
This 10 page paper considers what is meant by the New Economy, how it has emerged and how despite being argued as a model to create stability and spread wealth it may also be the catalyst of increased volatility. Issues such as the use of knowledge, valuation of companies and the productivity paradox are included. The bibliography cites 10 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEneweco.rtf
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Unformatted sample text from the term paper:
by increased use of the internet and that the power of information technology has brought this about, others seen this as part of the catalysis, but more as a societal
development. There is little to argue with the interaction between IT and the New Economy, the New Economy is an economy where the traditional labour and management rules and
relationships have changed. The commodity that is exchanged is brain power and not physical labour, competition is global, and services are a key function within the economy. Innovation is rife
and capital is used to invest in ideas and concepts rather than merely physical machinery (Kelly, 2000). The New Economy is very
different from the industrial economy that preceded it, just as that industrial economy was very different from the agricultural economy that preceded that age. The aspect of the free market
economy is also key to the new economy, this was established with the fall of the Society Union and the way in which this demonstrated the fall of the planned
economic model. The New Market is able to create new wealth. It is also able to distribute this wealth more fairly, based on knowledge and input rather than existing wealth
and political power. The markets themselves are undergoing rapid change. This change is well illustrated with the rise of Microsoft, a development which is representative of the New Economy and
illustrated the changing rules. The worlds most wealth man is now Bill Gates, this is due to the large move of the
world economies towards capitalist based structures and values. The company itself has a turnover each year in excess of $11 billion and although there are physical assets, the most valuable
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