LECTURE:
	The New Economy	embedded uTube Lecture-clips: Megatrends Friedman- The World is Flat Day of the LongTail The Long Tail: For Marketeers Tom Peters: Creativity Innovation Old Circus vs. New  Old FoodStore vs. New Old Mop vs. New Old Radio Vs. New Old TechStore vs. New Old Vegas vs. New

"When we talk about the New Economy, we're talking about a world in which people work with their brains instead of their hands. A world in which communications technology creates global competition - not just for running shoes and laptop computers, but also for bank loans and other services that can't be packed into a crate and shipped. A world in which innovation is more important than mass production. A world in which investment buys new concepts or the means to create them, rather than new machines. A world in which rapid change is a constant. A world at least as different from what came before it as the industrial age was from its agricultural predecessor. A world so different its emergence can only be described as a revolution..."

(Wired's- Encyclopedia of the New economy )  

    According to the Wikipedia--The New Economy is a term that was coined in late 1990s to describe the evolution of the United States into a high technology-based economy, arising largely from new developments in the internet, telecommunications and computer sectors. At the time, this evolution was believed by many analysts to have created a state of permanent steady growth, low unemployment, and immunity to boom-and-bust macroeconomic cycles. It was moreover perceived to have rendered obsolete many business practices associated with the era of manufacturing."

    Others contend that as early as 1969-- "a guy" named Peter Drucker coined the term The New Economy to describe what he saw as the shift from a manufacturing based economy to a knowledge based economy in North America--  http://www.conestogac.on.ca/~sfinlay/eMarketing/introduction.htm

     Other visionaries such as Daniel Bell in his 1973 treatise "Coming of Post-Industrial Society: A Venture in Social Forecasting" -- defined the new economy as "one  in which the majority of those employed are not involved in the production of tangible goods. The manual and unskilled worker class gets smaller and the class of knowledge workers becomes predominant. ...Theoretical knowledge is the impetus of innovation and growth."

		PRE-INDUST	INDUST	      POST-INDUST

Resource	land		machinery	knowledge

Social Locus	farm		business firm	university
		plantation			research inst.	

Dominant	landowner	business	scientists
Figures		military	people		researchers

Means of 	direct control	indirect influ.	balance of techno-
Power		of force	on politics	polit.forces
						franchises, rights

Class Base	property	property	technical skill
		military force	polit.org. 	polit.org.
				tech skill		

Access		inheritance	inheritance	education	
		seizure by	patronage	mobilization
		armies		education	cooptation

PowerBase:	Property	Polit.Position	 skill

- Bells 5 Key Dimensions of the post-industrial society

Focus:	Readings
Of all the changes "washing in" with the 3rd wave - -of central concern to marketers has been the redefinition of the foundation & essential structure of the economy...	New Rules for a New Economy Employment and Opportunity in Postindustrial America ; By Stephen A. Herzenberg, John A. Alic, and Howard Wial CHAPTER ONE : Recreating the Prosperity of the Past in the Economy of the Future
Herein you will be introduced to some of initial observations and evaluations of scholars and practitioners who 1st noted the New Economy's distinguishing features & effects...	Strategy in the new economy - Don Tapscott. Strategy & Leadership. Marketing Strategies for a New Economy WHAT I LEARNED IN THE NEW ECONOMY -Ryan Underwood WHAT WE LEARNED IN THE NEW ECONOMY -Jennifer Reingold
'for seizing the reins of the global media, for founding and framing the new digital democracy, for working for nothing and beating the pros at their own game, TIME's Person of the Year for 2006 is you" Now that the 3rd wave has crested --the logic, processes and structures of the new business models- of the new economy-are being clearly articulated:	The Long Tail by Chris Anderson Wikinomics by Don Tapscott Web 2.0 by Tim O'Reilly The Cult of the Amateur by Andrew Keen Chris Anderson, "The Long Tail" - An Open Letter to CEOs: Don Tapscott Collective Intelligence - The Vision Web 2.0 Andrew Keen- The Cult of the Amateur
The New Economy is a global economy--outsourcing is just one consequence of a confluence of events occurring around the world. In the last few years there has been a massive investment in technology... billions invested in broadband...computers have become ubiquitous...software steadily advances in capability & intelligence... Intellectual work & intellectual capital can be delivered anytime, anywhere--it can be "disaggregated, delivered, distributed produced and put back together again"	Why the World is Flat  Thomas Friedman- Keynote Address

This Week's Assignment- #1-Which Trend Spotting site(s) did you find to be the most useful & what trends did you find the most interesting?

	http://www.trendwatching.com/
	http://www.springwise.com = A valuable source of intelligence regarding new business ideas & opportunities on a global scale..
	http://www.psfk.com/
	http://www.trendhunter.com/
	http://www.ubercool.com/ http://www.ubertrends.com/newsletter.html
	http://www.google.com/trends HOW TO USE: Google~Trends

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Syllabus	Curre	nt	Issues	in	Mark	eting	Seminar
Readings  Assignments	Intro	NewE	Tech	Info	Socio	Psycho	Bio/Pwr	Future