After World War II, the world economy developed rapidly, and the United States entered a new economic era in the 1990s. What are the main features of the new economy?

In the United States in the mid-1990s, with the sustained growth of American economy 123 months. When the American economy is at its peak, the new economic trend is rapid and unstoppable. However, at the beginning of the new century, the American and world economies experienced slow growth, especially the "9. 1 1" incident, which pushed the American economy into a gloomy corner of phased adjustment. The research on the reasons behind it has revived the world's interest in the new economy, and its future trend has once again become the focus of attention.

First of all, it is accompanied by the ups and downs of the American economy.

1996 12.30, American Business Weekly first put forward the concept of "new economy". 1In February 1997, former US President Bill Clinton confirmed the concepts of new economy and knowledge economy in official language. Although there is no unified understanding of what a new economy is in the world at present, based on relevant academic data, it can be preliminarily summarized as follows: the new economy is an economy dominated by seven high-tech industries, such as life science and technology, new energy technology, new material technology, space technology, marine technology, environmental technology and management technology, and its core is the innovation of ideas, operation modes and technologies. As a brand-new economic and technological form, the new economy plays an important role in the development of the world economy, especially the American economy, mainly in the following aspects:

First of all, the application of high technology has greatly improved labor productivity, made up for the increase in labor costs, and suppressed inflation, thus weakening the correlation between economic growth and inflation.

Secondly, the profit, credit and investment of enterprises have become the important supporting points of the new economy, and the characteristics of high-tech products determine that enterprises can quickly adjust their investment strategies and increase their flexibility in responding to market supply and demand when they have sufficient information.

Third, the inflation rate and price level are controlled in a lower range, which weakens the effectiveness of monetary policy intervention in the economy, and the policy lag is longer than before.

Fourth, the effective combination of many elements of the new economy and the traditional economy has improved the high-tech content of traditional industries and their products, brought about new changes in the production, operation and management methods of the traditional economy, and effectively promoted the development of traditional industries.

The rapid growth of the new economy has greatly promoted the development of American industrial manufacturing sector, service sector and circulation sector. During the eight years from 1990 to 1998, the GDP of the United States increased by 26.7%. During this period, the output value of electronic and power equipment industry increased by 224%, the machinery industry increased by 107%, and the output value of commercial services, communications, circulation and transportation industry also increased by 42-68%. In 2000, US GDP reached 99657 billion US dollars, accounting for 3 1.54% of the world economy. In 2006, 5438+0, the American economy, which grew for nearly ten years, began to show signs of periodic adjustment, and its economic growth slowed down obviously. Under this influence, the Nasdaq index, as a barometer of the information industry, fluctuates greatly, the profits of high-tech enterprises decrease, the inventory increases, and the phenomenon of layoffs and closures of enterprises rises sharply. The "9. 1 1" incident made the American economy worse, causing the stock market to plummet again, shrinking by $65 trillion, of which Nasdaq fell 16. 1% in the first week when the stock market reopened. The American economy suffered the worst blow in history. However, shortly after the "9. 1 1" incident, the American economy, including the new economy, showed a rebound momentum. In the fourth quarter of 200/kloc-0, the economic growth rate of the United States rebounded from-1.3% in the third quarter to 1.4%, and the annual economic growth rate was 1.3%. Since this year, the economic growth rate of the United States has climbed to 5.8%. At the beginning of the year, President Bush announced that "the new American economy is still alive", and it is estimated that the future will be 65,433. Industry experts commented that there are indications that the new economy is still full of vitality.

Second, existence is reasonable?

For the new economy, there are both praise and disparagement. The detractors regard the new economy as a bubble phenomenon in the post-industrial era on the grounds that it lacks a scientific theory of survival and development and is unsustainable. After the "9.l 1" incident, this negative argument is even more rampant. However, from the comprehensive analysis of the ten-year history since the rise of the new economy, the new economy does have a relatively broad and solid theoretical foundation.

According to the principle of economic development put forward by Adam Smith, the division of labor can greatly promote economic development, and the degree of division of labor depends on the size of the market, which in turn depends on the cost of market transactions. The new economy represented by the information industry has expanded the market scale, made the division of labor more detailed and reasonable, and greatly improved the economic efficiency. In addition, according to Schumpeter's famous "innovation theory", the new economy is not only a technical concept, it is not simply equivalent to the invention and application of technology. An important reason for the rapid development of the new economy is that it has created a new economic operation system and organizational management system, including technological innovation, institutional innovation and management innovation, through the widespread popularization of information, network and computer technology.

From the analysis of Michael Porter's management theory, the vigorous development of the new economy has improved labor productivity and greatly reduced product costs. The application of high-tech makes products and services more colorful, which can meet the diversified needs of consumers, and it is easier for enterprises to win comparative advantages by using differentiation; The great development of high-tech industries such as microelectronics, software and network requires large-scale production and a high degree of division of labor and cooperation. Industrial agglomeration is inevitable and has become a tool to accelerate economic change.

Third, the prospects are promising.

Although the new American economy has not yet stepped out of the stage adjustment, it can be expected that the new economy is still optimistic and has broad development prospects.

1, the realistic conditions that promoted the new economic growth in the United States in the past decade still play a decisive role.

The first is the high-tech revolution with information technology as the core. Although the information industry was adjusted in stages at the end of last year, the continuous improvement of labor productivity in the United States provided a lasting and strong impetus for the technological revolution to promote economic development. Different from the previous economic recessions in the United States, the labor productivity in the United States has not been hit hard, but has maintained a sustained growth, which is still maintained at the level of 5%. This shows that the high level of labor productivity created by the technological revolution is still the decisive factor of economic development, whether in the period of prosperity or adjustment of the new economy.

Second, the wave of economic globalization. Although economic globalization has triggered a new round of North-South contradictions, globalization, as an objective reality of the contemporary world economic development movement, cannot be avoided. Under the current situation, international commodity, capital flow, information technology diffusion and international operation continue to develop, and the process of regional economic integration such as the European Union, North America and East Asia is steadily advancing. Economic globalization has brought about new changes in the new generation of industrial system with information industry as the core, and new features have emerged in the combination of global productivity elements and productivity layout. In the wave of globalization, enterprises are stepping up structural adjustment, and the innovation of market system and enterprise system is also accelerating. Economic globalization not only makes American enterprises occupy a favorable position in the adjustment of global industrial structure, but also "rationally allocate" their own advantages with vast foreign markets and cheap labor in cooperation with developing countries, thus obtaining huge economic benefits.

2. The new economy has created a solid material foundation for the United States to successfully adjust its industrial structure and win the first-Mover advantage. The United States will continue to develop high-tech industries from the strategic height of national interests. In fact, the information technology revolution in the 1990s in the United States initially benefited from the tax reduction policies of the Reagan and Bush administrations in the 1980s, which greatly reduced the burden on enterprises, enhanced their enthusiasm and creativity, and prepared conditions for the all-round development of the new economy. At present, the Bush administration is faced with the dual tasks of getting the American economy out of the trough and promoting all-round economic growth. Its economic policy follows the traditional characteristics of the party's pragmatism and laissez-faire, which will inject great vitality into the new economic forces in the future. Based on "Reagan Economism", the Bush administration once again put forward the supply-side theory, arguing that production and supply can create demand by themselves and regulate the economy. It advocates reducing the authority of the federal government and weakening the government's intervention in the economy, including reducing the intervention in private enterprises as the foundation of the American economy. The government relies on enterprise decision-making to continuously expand the due role of private enterprises in the national economy; Implement substantial tax cuts; Restrict the money supply, etc. Last year, the Bush administration submitted to Congress a plan to reduce taxes by $65,438+$0.6 trillion in 2000, which will help the government expand its budget surplus, stimulate enterprise investment and personal consumption, and thus stimulate economic growth. In addition, in order to effectively promote the development of the information industry, the US government has also played an active role in formulating policies and regulations, cultivating talents, and coordinating capital investment with scientific research departments, creating a good policy environment for the further development of the new economy.

In addition, the merger and reorganization of enterprises since 1990s, especially the development of multinational companies, has created a new foundation for the sustained growth of the new economy. It reflects that under the conditions of information technology revolution and economic globalization, confrontational competition is gradually being replaced by cooperative competition, and the business philosophy and strategy of enterprises are undergoing new changes. Although there has been a certain cooling trend in the merger and reorganization of enterprises in the past year or two, the overall development trend has not been reversed. It effectively promotes the comprehensive utilization of enterprise resources, consolidates the market share of enterprises, reduces duplication of work, expands the business scope of enterprises, enhances the ability of enterprises to resist risks, and brings the mutual approach and integration of different business development models. Because the unique increasing income of high-tech information industry is easy to cause economic instability, from the perspective of globalization, in order to maintain the long-term survival and development of enterprises, taking the road of large-scale merger is undoubtedly conducive to the rational allocation and optimal combination of global resources, and more importantly, it will create a solid organizational foundation for the healthy and sustainable development of the new economy.