The new economy: socioeconomic implications, implications for statistics

The article attempts to provide a definition of a still not well-defined concept of the new economy. It deals with characteristic features of the new economy and its socioeconomic implications. Empirical evidence on the existence of the new economy is presented. Importance of information and communication technologies (namely internet and e-commerce) for the new economy is stressed and documented. Some myths about the new economy are clarified, and implications of the new economy for economic policies and statistics are described.

Keywords: economic policy, statistics, business cycle, new economy, information society, ICT (information and communication technologies)