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The New Ruthless EconomyWork and Power in the Digital Age$
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Simon Head

Print publication date: 2005

Print ISBN-13: 9780195179835

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780195179835.001.0001

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A New Economy?

A New Economy?

(p.1) 1 A New Economy?
The New Ruthless Economy

Simon Head

Oxford University Press

This chapter examines the so-called new economy of the U.S. that was widely celebrated at the turn of the millennium. This economy was sustained by strong investment, low inflation and the renewed global supremacy of U.S. technology. It was driven up by investments in new information technologies. However, it was the same industry that drove the economy down starting in 2001. Thus, the near boundless optimism at the turn of the century was replaced by anxiety in a matter of two and a half years.

Keywords:   new economy, U.S., information technology, investments, economic downturn

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