The New Economy: What It Is, How It Happened, and Why It Is Likely to Last

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9780374288938: The New Economy: What It Is, How It Happened, and Why It Is Likely to Last

How doing business is undergoing a major historic transformation--and why we’ve only begun our productivity upswing

America’s economic troubles have had a dramatic impact on how investors view markets and the businesses that drive them. And for now they have overshadowed a profound and ongoing revolution--still taking place after twenty-five years--in the way the economy operates. Just as in past economic revolutions, today’s "new economy" emerged from the combination of powerful new technologies--in this case, information and communications technologies--and the methods companies adopted in order to use those technologies effectively. The bubble in technology stocks, its collapse, and the recession that followed are part of a larger pattern of dramatic transformation of markets and businesses. And unlike the bureaucratic companies of the past, today’s leading firms are lean, flexible, entrepreneurial, and more productive—and the new ways in which they operate are still evolving. These trends are likely to continue for some time, and their effects are only beginning to be understood.

In The New Economy, Roger Alcaly describes how the economy has changed in response to new pressures and opportunities--created by new technologies, global competition, and innovations in world financial markets; he shows how the impact of these changes is real and substantial, and suggests why their biggest impact on the economy may be yet to come.

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From the Back Cover:

"A book of major importance, the first to describe the realities of the new economy. Alcaly states that the new economy began in 1995, and is only beginning--and he is right. Why? Because the book's strength lies in his excellent historical comparisons to comparable eras of profound economic and business transformation." --Alfred D. Chandler, Jr., Isidor Straus Professor of Business History Emeritus, Harvard Business School

"Stock markets occasionally go to the loony bin in both directions. The Internet-related bubble of the late 1990s has now been replaced by excessive pessimism. Roger Alcaly distinguishes fact from fiction about the new economy and argues persuasively that we have just begun to see the effects of far-reaching changes in technology and business practices. Investors and general readers alike will find Alcaly's important book a must-read in understanding the historic transformation affecting business and the economy." --Burton G. Malkiel, author of A Random Walk Down Wall Street

About the Author:

Roger Alcaly is a hedge-fund manager, an economist, and a regular contributor to The New York Review of Books. He lives in New York City.

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Alcaly, Roger
Published by Farrar Straus & Giroux, Gordonsville, Virginia, U.S.A. (2003)
ISBN 10: 0374288933 ISBN 13: 9780374288938
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Book Description Farrar Straus & Giroux, Gordonsville, Virginia, U.S.A., 2003. Hardcover. Book Condition: New. Dust Jacket Condition: New. Hardcover with dust jacket, NEW, no marks or blemishes, dust jacket is bright and glossy. Bookseller Inventory # 902011

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Roger Alcaly
Published by Farrar, Straus and Giroux (2003)
ISBN 10: 0374288933 ISBN 13: 9780374288938
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Book Description Farrar, Straus and Giroux, 2003. Hardcover. Book Condition: New. Bookseller Inventory # DADAX0374288933

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