what is the new economy 
new economy is a buzzword to describe new high growth industries that are on the cutting edge of technology and are believed to be the driving force of economic growth and productivity a new economy was first declared in the late 1990s as hi tech tools particularly the internet and increasingly powerful computers made their way into the consumer and business marketplace the new economy was seen as a shift from a manufacturing and commodity based economy to one that used technology to create new products and services at a rate that the traditional manufacturing economy could not match understanding the new economythe idea that a new economy had arrived was part of the hysteria surrounding the tech bubble of the late 1990s and early 2000s the new economy was variously heralded as the knowledge economy the data economy the ecommerce economy and so on unfortunately for the long term health of the new economy arising in the 90s investors and financial institutions bid up technology sector stock prices to unprecedented highs without fully considering the fundamentals the excitement around the tech sector did more harm than good and the rate at which these firms were pushed to become the next microsoft likely destroyed many potentially good business ideas in the pursuit of great ones 1although the tech bubble has long since burst many of the remaining firms like google alphabet amazon and meta formerly facebook remain very innovative and at the forefront of technology now the new economy is often used to describe different aspects of the technology sector beyond simple internet presence and functionality since the tech boom of the 90s we ve seen the growth of many new and exciting subsectors in tech these include the sharing economy the streaming economy the gig economy cloud computing big data and artificial intelligence as of 2024 the companies involved in tech particularly alphabet amazon meta microsoft and apple have overtaken most companies in the world in terms of market cap 2