More ‘New Economy’ Hyperbole

Peter G. Klein May 25, 2009

Organizations and Markets View Original Source

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Wired’s Chris Anderson drinks the New Economy Kool-Aid. It’s the same old argument — information technology reduces transaction costs, leading to a radical disaggregation of industry and society — still supported by little more than a few colorful anecdotes, not any kind of systematic analysis. The new twist is the financial crisis, described by Anderson as “not just the trough of a cycle but the end of an era.”

Read the full piece here.