Defining New Economy

“The new economy” swirls in the air of many network circles now. What does that mean? How did we shift perspective on the old economy in order to see this new possibility? What and how do we need to build our economy better?

Wikipedia says new economy means the shift from manufacturing to service. But I think the Nation writes about an even greater economic shift: “the movement seeks an economy that is increasingly green and socially responsible, and one that is based on rethinking the nature of ownership and the growth paradigm that guides conventional policies.” Wired magazine suggests this is the end of the era of conglomerates.  New Economics Foundation, a think-do tank, inspires and demonstrates real economic well being.

What if talking about an Agenda for a New Economy, The New Rules, or the rising Social Era turn out to be facets of the same new economy? One where we use social intelligence lubricated by clear purpose and ethics with metrics to increase well being, take responsibility for our actions on the planet, and optimize our methods of organizing ourselves?

Keep in mind there are two perspectives that I am suggesting could blend: the network production model favored by geeks and the people, planet, profit model from environmentalists. When you hear people say new economy, check your context to see which one they might be meaning.

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