The Frontiers Of An Actual New Economy, Part II

The Frontiers Of An Actual New Economy, Part II

Economic conditions are changing in unanticipated ways; economic policies have not been as effective as in the past; and individuals who are dealing directly with those realities have more recently started to change the way they interact with the economy and to reprioritize what they value. Individuals are changing because the New Economy has also shifted what is valued, creating several new conditions: (1) Traditional economic tactics are becoming less and less effective; (2) the economy’s dependence on consumer spending is decreasing, and dependence on business-to-business spending is increasing; (3) an automated workplace and a contingent workforce are becoming commonplace; (4) a different relationship between employer and employee is emerging; and (5) volatility and uncertainty are new economic norms. We expect other aspects of the New Economy to emerge over time.

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