Some economists argued that developments in information technology and globalisation had given birth to a new economy, which had a higher rate of productivity and growth than the old economy it replaced. Some went further, adding that in the new economy inflation was dead, the business cycle abolished and the traditional rules of economics were redundant. These claims were highly controversial. Other economists pointed out those similar predictions had been made during earlier periods of rapid technological change, yet the nature of economics was not fundamentally altered.
Related journals of New economy Business and Economics Journal, Journal of Global Economics, Health Economics & Outcome Research, New Political Economy, Journal of Economic Structures