By Doug Henwood
Filenote: PDF is searchable snapshot ocr, 296 pages with front/back disguise and within flaps
Publish yr note: First released October 1st 2003
Journalist Doug Henwood's withering postmortem of the recent Economy.
Rarely an afternoon glided by within the dizzy Nineties with no a few well-paid pundit heralding the victorious arrival of a "New Economy." in keeping with those monetary experts, an extraordinary technological and organizational revolution had extinguished the specter of recession without end. although a lot of the rhetoric sounds ridiculous this day, few analysts have explored how the hot economic climate second emerged from deep inside America's monetary and ideological machinery—instead, they've most well liked to regard it as an episode of mass delusion.
Now, with favourite irreverence and acuity, journalist Doug Henwood dissects the recent economic system, arguing that the delirious optimism used to be truly a manic set of diversifications on old topics, all promoted from the top of locations. Claims of recent Eras have lots of old precedents; during this newest act, our glossy mythmakers held that know-how might overturn hierarchies, democratizing info and finance and major inexorably to a digital social revolution. yet, as Henwood vividly demonstrates, the distance among wealthy and terrible hasn't ever been so broad, wealth by no means so centred. After the recent economic system deals an available and interesting account of the less-than-lustrous truth underneath the gloss of the Nineties boom.
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Additional resources for After the New Economy: The Binge and the Hangover That Won't Go Away
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Today, knowledge, not things, That's a fashionable point of view that assumes our ancestors as if of knowledge. Things get interesting when Lev financial statements should recognize four kinds new that are associated with products or services —not gets specific. of New Era He thinks assets: (1) with product innovation," which presumably includes everything from a assets" dolts, power loom weren't productive embodiments the wheel and the "assets associated were rule. " are quite extraordinary thoughts.
Hedonic pricing has never been applied to cars, despite massive quaHty improvements. that were it appUed to women's Gordon clothing, reported inflation (2002) says would nearly double, since manufacturers hide price increases behind seasonal style changes. ). We're better off than we ever reaHzed. 1 45 Work And what about the inputs to TFP/MFP? An hour of labor may be an hour of labor, but should an inexperienced worker's hour be treated the as equivalent of an old hand's? That kind of question seems simple next to defining a unit of capital.