IP: 'New Economy' Is a Thing of the Past

[David Farber <dave () farber net>]

> Are there other views Ipers could sed djf


> Date: Mon, 24 Sep 2001 10:37:25 -0700
> Subject: 'New Economy' Is a Thing of the Past
> From: Bret Fausett <fausett () lextext com>
> To: <farber () cis upenn edu>
>
> One view of our economic/regulatory future. -- Bret
>
> -------
>
> THE FINANCIAL FALLOUT
> 'New Economy' Is a Thing of the Past
>     By PETER G. GOSSELIN and JUBE SHIVER JR.,
>     TIMES STAFF WRITERS
>
> WASHINGTON -- For a little over a decade following the fall of the Berlin
> Wall, America lived without serious threat. The result was a U.S. economy
> that could devote itself single-mindedly to churning out better video games,
> bigger houses, wild start-ups and improved lives.
>
> But a growing number of economists have concluded that much about those
> happy times will prove to be casualties of the mid-September airliner
> attacks on New York and the Pentagon.
>
> The "new economy," already tattered before the assaults, is dying. In its
> place will emerge a shadow war economy. Many of these analysts see
> government, whose role waned in the last decade, returning with a vengeance
> as warrior, regulator, economic manager, big spender. The private sector,
> whose entrepreneurial enthusiasms defined the passing age, will become more
> corporate and controlled. And the new economy--the deregulated, wired,
> just-in-time, globalized new economy of the '90s--will be gone.
>
> http://latimes.com/news/nationworld/nation/la-000076318sep23.story?coll=la%2
> Dheadlines%2Dnation



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