Article Information

Old Economic Logic in the New Economy
Tyson, Laura D'Andrea
41/4  (Summer 1999): 8-16

The unusually strong performance of the American economy has prompted a debate about whether there is a "new economy." However, the real debate is not whether the American economy has changed-it clearly has-but rather whether these changes have fundamentally altered the historical relationship between inflation and unemployment or have affected the economy's maximum rate of growth. While technological advances and globalization do appear to have created the potential for better economic performance, sound domestic and international economic policies remain essential.

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