Applying the economic theories in the Market’s Reader to the New Economy :: Economics

Applying the sparing theories in the Markets contributor to the late EconomyIn this get roughly of the question, I will discern the old and new-fangled Economy,after that I will point reveal the main characters of New Economy andwhat is polar between NEW and ageing Economy. later than, I will argue the demand of association, ideas, innovation, and individual fictive destruction, change in securities industry and rivalrous as the main election needed to make economic prosperity. I will discuss innovationreduce costs and improve crop quality and how advances engine room deliver the high- costds the cost reduction and reserve the economic scale in goodlevel. Fin on the wholey I will curb the Economic theories in food market reader.From around 1938 to 1974, the economy was built on a manufacturingbase adapt in the direction of touchstoneized exertion (It was manuallabor). It was organized into stable, stratified and generallyhigh-handed organizations. These organiz ations achieved a agonisticedge in the market by making standardized products high-velocity and moreeconomically. They foc functiond on incremental cost reductions and a study marketplace. In addition, that how this organization victorand achieved there ogles in just about courtiers, for role model textile and sword industry.That gracious of economic start to collapse during the mid-70s and the earlyish 90s. The crisis included both textiles and steel industry, in aperiod of conversion from the old economic to the new economic ,a lotof countries loss their agonistical frame because former(a)s were changingthe output signal act upon more faster and twopenny-halfpennyer. The cheap labor whichhad brought industries to the South Asia was be very cheap. At thesame time, the mixer demand for the individual has change, workers pop off looking for a higher standard of living, new cars, washingmachines, habilitate and bigger houses, which effect the economy.On the other hand, t he new economy is travel as a demand of k at a timeledgeand idea-based economy. The new economy, which was making mastery andprosperity used the new technology to produces high quality, low priceproduction, also the new ideas and innovation that agree to allsectors of the economy which enkindle the whole economy. For example,80% of the jobs in US today do non depend on making things, processthings, or generate information. In 50s, 60% of the firms in US coulduse unskilled labor now a day only around 15 per sent of jobs sack useunskilled labor.Robert M. Howe author express technology is in the custody of society atlarge. the most important resource in the new economy is human superior a resource that all nations possess. Development ofproductive capacity and its beat is one of the challenges thatApplying the economic theories in the Markets Reader to the New Economy EconomicsApplying the economic theories in the Markets Reader to the New EconomyIn this part of the questi on, I will describe the old and new Economy,after that I will point out the main characters of New Economy andwhat is different between NEW and Old Economy. later than, I willdiscuss the demand of knowledge, ideas, innovation, and individualcreative destruction, change in market and competitive as the mainresource needed to make economic prosperity. I will discuss Innovationreduce costs and improve product quality and how advances technologyachieve the cost reduction and reserve the economic scale in goodlevel. Finally I will apply the Economic theories in market reader.From around 1938 to 1974, the economy was built on a manufacturingbase geared in the direction of standardized production (It was manuallabor). It was organized into stable, hierarchical and generallyhigh-handed organizations. These organizations achieved a competitiveedge in the market by making standardized products faster and moreeconomically. They focused on incremental cost reductions and anational marketplace. In addition, that how this organization successand achieved there ogles in most courtiers, for example textile andsteel industry.That kind of economic start to collapse during the mid-70s and theearly 90s. The crisis included both textiles and steel industry, in aperiod of changeover from the old economic to the new economic ,a lotof countries loss their competitive frame because others were changingthe production process more faster and cheaper. The cheap labor whichhad brought industries to the South Asia was being very cheap. At thesame time, the social demand for the individual has change, workersbecome looking for a higher standard of living, new cars, washingmachines, clothes and bigger houses, which effect the economy.On the other hand, the new economy is rising as a demand of knowledgeand idea-based economy. The new economy, which was making success andprosperity used the new technology to produces high quality, low priceproduction, also the new ideas and innovation that app ly to allsectors of the economy which enhance the whole economy. For example,80% of the jobs in US today do not depend on making things, processthings, or generate information. In 50s, 60% of the firms in US coulduse unskilled labor now a day only around 15 per sent of jobs can useunskilled labor.Robert M. Howe author said technology is in the hands of society atlarge. the most important resource in the new economy is humancapital a resource that all nations possess. Development ofproductive capacity and its measurement is one of the challenges that