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The New Managerial Economics
William Boyes, Arizona State University
Chapter Overview
Chapter 09: The New Economy: Technological Change and Innovation

Much has been made of the "new economy." Such a system has been brought about by the technological changes and informational interfaces of the past decade. Characteristics include the decomposition of the supply chain, winner-take-all events, tipping points, networks, positive feedback, and positive network externalities. But, as is often the case, new ideas, concepts, and jargon can be traced back to the "old economy" and to fundamental economic principles. It is apparent from the chapter that the old French saying is correct: "The more things change, the more they stay the same.



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