Summary

Thanks to technology-driven increases in productivity, the world’s best financial system and the unleashing of entrepreneurial energies through deregulation, in addition to the labor force expanded by immigration, the New Economy (in the United States of America) has come. However, as business cycles have not been eliminated, and due to the volatility in tech investment caused by fluctuations in financing from venture capitalists and initial public offerings, to the fierce competition resulting from deregulation, and to the wild excess of the late 1990s, the economy is not doing as fast as expected. With capital spending back on track when companies need new equipment and software to fill the low inventory and to take the place of the out-of-date equipment for competition, economy will pick up soon with innovative companies leading the charge. Behind the advert of the New Economy, the information technology plays a very important role. As it improves at a fast rate and decreases in its cost, the information technology will accelerate the economic growth.

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