erc/metu
INTERNATIONAL CONFERENCE IN ECONOMICS  IV
September 13-16, 2000, Ankara

The Myths About the New E-Economy

Erman Erkan (Başarı Elektronik)

Abstract  

The world economy especially American one has undergone fundamental changes in the last 15 years, whether or not they refer to these changes as constituting a "New Economy". However, too often the discussion on either end of the political spectrum has been driven by inaccurate assessment and selective choices of data in short, by New Economy myths. For many on the left, the New Economy represents a new threat to economic justice and social cohesion. These New Economy pessimists emphasize the down sides of the New Economy, while underestimating the benefits. For many on the right, the dawn of a digital era automatically means the twilight of the government. These New Economy optimists emphasize, the upsides of the New Economy, while overlooking its problems. Shortly, this paper analyses the both optimist and pessimist myths vs reality, by using US data.

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