Economics

After the New Economy: The Binge and the Hangover That Won't by Doug Henwood

By Doug Henwood

Filenote: PDF is searchable snapshot ocr, 296 pages with front/back hide and within flaps
Publish yr note: First released October 1st 2003
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Journalist Doug Henwood's withering postmortem of the hot Economy.

Rarely an afternoon glided by within the dizzy Nineties with out a few well-paid pundit heralding the successful arrival of a "New Economy." in response to those monetary professionals, an remarkable technological and organizational revolution had extinguished the specter of recession ceaselessly. notwithstanding a lot of the rhetoric sounds ridiculous at the present time, few analysts have explored how the recent financial system second emerged from deep inside America's financial and ideological machinery—instead, they've most well liked to regard it as an episode of mass delusion.

Now, with standard irreverence and acuity, journalist Doug Henwood dissects the recent financial system, arguing that the delirious optimism used to be truly a manic set of diversifications on historic subject matters, all promoted from the top of locations. Claims of latest Eras have lots of ancient precedents; during this newest act, our smooth mythmakers held that know-how could overturn hierarchies, democratizing info and finance and prime inexorably to a digital social revolution. yet, as Henwood vividly demonstrates, the space among wealthy and bad hasn't ever been so large, wealth by no means so focused. After the hot economic climate deals an obtainable and pleasing account of the less-than-lustrous truth underneath the gloss of the Nineteen Nineties boom.

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