New Economy

The concept of the New Economy (English for: new economy ) denotes the transition from aligned to commodity production economy to a services -oriented, especially web-based services economy. New Economy refers to the on the basis of this theory emerged in the late 1990s and soon afterwards failed in much of economic sectors in the German language.

Properties

The advocates of the New Economy have assumed that the industrial mass production of goods will less important ( see Mass Customization ) and the previously valid basic assumptions of the capitalist mode of lose their meaning. The priorities subject now in the information economy, that is, in the global competition for innovative ideas in the production, processing and distribution of information or content (Content ), ie intangible assets, eg in the form of digital goods (software, music, videos). Physical work processes and sales channels would be largely eclipsed by digital processes.

In contrast to classical economic theories - now referred to pejoratively as Old Economy - is the new economy no longer believes that the scarcity of goods determines their price. In the new economy, the price of a good rises only when it is available universally (or at least a critical mass ). In particular, under the impact of global networking of information systems (Internet), there is the theory of the New Economy is that communications equipment could cause only a benefit if they are universally available. While the goods of the classical economists such as raw materials and industrial finished products given their value by their scarcity, the goods of the New Economy determine their value mainly through the spread option by worldwide accessible digital additions or worldwide usable digital copies, the network effect and its diffusion rate (see also Tipping Point ). The possessions of the New Economy are therefore especially communication means ( telephone, fax, e -mail, online community ) that are only useful useful if as many people have and use the means of communication access to it.

This idea played an important role in the upsurge of information technology companies in the late 1990s. Investors put a time large sums of money in order to secure innovative ideas and so get a head start in the development of new markets. Characteristic of the New Economy were new start-ups in the so-called sunrise industries such as information technology, multimedia, biotechnology, telecommunications, and producers of research-intensive products.

With the end of this boom it has been recognized by that the digital revolution does not set the basic rules of capitalism overridden. In this context, spread to the slowdown in the assessment that a more or less strict division between New and "old economy" does not make sense. Ancestral companies in the "old economy" also invested increasingly in areas that were previously considered typical of the new economy, such as online portals and largely web- based services. Furthermore, a variety of business models in the New Economy as a conceptual failure, which may at the end of the peak period led to the bursting of the " dotcom bubble " and penny stocks (shares with a market value of less than 1 dollar or 1 euro ) was found. Thus, many of the previously often promising launched dotcom companies disappeared.

A more recent area of ​​research that also deals with the economic use of the Internet, the Internet economy.

Terms of the New Economy

  • Business Angel (also called Angel)
  • Business -to-business
  • Broker
  • Cash burn rate
  • Cash flow
  • CEO
  • CFO
  • Content
  • Deal
  • Dedication
  • EBay
  • Entrepreneur in Residence
  • Financing round
  • Profit Optimization
  • Media hype
  • Internet start -up
  • Investment
  • IPO
  • Mobile Device
  • Platform
  • Portfolio company
  • Recruitment
  • Venture capital (English: Venture Capital, VC)
  • Rollout
  • Seed financing
  • Serial Entrepreneur
  • Value-added
  • Value Enhancement

Source: Concise Encyclopedia of the New Economy language. Süddeutsche Zeitung Magazine, June 2, 2000, pp. 17f.

People in the New Economy

In the context of the New Economy boom phase obtained in Germany, among others, the following contractor awareness: Thomas Haffa ( EM.TV ), Rudolf Zawrel ( Gigabell AG), Lars Windhorst ( Windhorst AG), Bodo Schnabel ( ComROAD AG), Kim Schmitz " Kimble " ( Kimvestor ), Alexander Falk ( ACTIVISION Internet AG ) Tan Siekmann ( Biodata ), Gerhard Schmid ( Mobilcom ) and Peter cable ( Kabel New Media AG).

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