Defining the New Economy

Listen / Download

The old/new economy dichotomy is on everyone’s lips these days, but can anyone truly tell which is which?

Sure, there’s the extremes of old and slow, brick and mortar makers of the various clunky junk we all need – and, on the other end, the virtually infinite speed of the dot-coms. But even as we get to know that what a B2B is, old economy companies are getting into new economy businesses.

In the last month, Detroit’s Big Three car makers, agri-giant Cargill and Sears and Roebucks have all opened shop online – and there’s more on the way.

The Grocery Manufacturers of America will create an e-bazaar for its members; Eastman Chemical has ventured into half a dozen start-ups in the past seven months.

Meanwhile, cash floods the NASDAQ one day, Wall Street the next, oil prices are shooting through the roof, and Alan Greenspan hikes interest rates every chance he gets. Is this the best bull market of all time, complete chaos, or both?
(Hosted by Christopher Lydon)


Allen Sinai and Robert J. Shiller, professor of economics at Yale University, author of “Irrational Exuberance”.