| Main Entry: | new economy |
| Part of Speech: | n |
| Definition: | the newer high-growth industries or business sectors, such as biotechnology, information technology, and the Internet; also, the effect of these industries on the economy |
New Economy
A buzzword describing the new, high growth industries that are on the cutting edge of technology and are the driving force of economic growth.
Investopedia Commentary
The New Economy consists of industries such as Internet and BioTech.
In our opinion, this term is horribly overused.
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See also: Creative Destruction, Dot-Com, Old Economy, Silicon Valley