Is the New Economy Wearing Out?
The economy certainly boomed in the late 1990s. But much of the expansion was based on computers and software that either wear out or become obsolete much more quickly than did traditional capital investment in the past. The rise in a nation's standard of living, however, depends on spending after allowance for such deteriorationwhich is usually an expense for business. This economist analyzes how well the United States really did.
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Volume (Year): 45 (2002)
Issue (Month): 1 (January)
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