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old economy

In contrast to the new economy or digital economy, the term old economy refers to the traditional part of the economy. Old Economy is used primarily for the industrial sectors with little affinity for the Internet. These are, for example, companies with a classic production focus such as in the chemical sector or mechanical engineering.

The distinction between old and new economy first took place in the late 1990s and early 2000s. In the process, the term old economy was often used pejoratively, while new economy companies received record valuations on the stock exchanges. The bursting of the first Internet bubble put this assessment into perspective.

Englisch: old economy
Updated at: 27.03.2013
#Words: 105
Links: indium (In), contrast, digital economy, Internet, sector
Translations: DE

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