Ehrenfeld, Wilfried (2005): Weltwirtschaftkrise und New-Economy-Crash: Parallelen und Unterschiede.
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When comparing the New Economy and the time before the Great Depression there are two obvious analogies. In the 1920s as in the 1990s there was an investment boom triggered through the use of new technologies and rapid technological development. In the 1920s, these were the electricity and the combustion engine, in the 1990s computer hardware, software and network technologies. This boom seemed to promise steadily rising corporate profits. The capital needs could be well covered ever the stock, as earnings expectations were high. Both decades had an acceleration of productivity growth, low unemployment and low inflation rates. The sharp fall of the stock was just like the previous stock market boom equally an indicator of both scenarios. In both cases a stock market bubble had formed. The real economic development after the stock market crash, however, differs fundamentally.
|Item Type:||MPRA Paper|
|Original Title:||Weltwirtschaftkrise und New-Economy-Crash: Parallelen und Unterschiede|
|English Title:||Great Depression and New-Economy-Crash: analogies and differences.|
|Keywords:||Great Depression , Weltwirtschaftskrise , New Economy|
|Subjects:||F - International Economics > F0 - General > F00 - General
N - Economic History > N1 - Macroeconomics and Monetary Economics ; Industrial Structure ; Growth ; Fluctuations > N12 - U.S. ; Canada: 1913-
E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E20 - General
|Depositing User:||Wilfried Ehrenfeld|
|Date Deposited:||10. Feb 2009 10:19|
|Last Modified:||20. Mar 2015 13:18|
E20 F00 N12