Economics Today

Paper Summary:

This paper analyzes the current economic conditions in the United States and makes speculations on the future. It claims that the bursting of the technology bubble, the terrorist attacks of September 11th and the ensuing war in Afghanistan have impacted negatively on both individuals and the stock markets. The paper explains our current phase for the business cycle, economists' predictions and the latest Gross domestic product (GDP).

Table of Contents
Introduction
What Phase of The Business Cycle are we in?
What Is The Latest GDP (Real And Nominal)? How has this Changed Since 1999?
What are Economists Predicting for the Current Year?
What Three Events Have Occurred or will Soon be Resolved that Likely will Affect the Economy In 2003?
Conclusion
Bibliography

From the Paper:

"The industrial age was an age of giant, mega corporations that were often bogged down by inefficient and outdated distribution, innovation, and production techniques. By contrast, the information age of the past 20 years or so has brought forth a new business form, a fluid congregation of businesses, sometimes highly structured, sometimes amorphous, that come together on the internet to create value for customers and wealth for their shareholders. This phenomenon has been commonly referred to as "digital capital," "information technology revolution," or "new economy." However, as both the Dow Jones Industrial Average and the Nasdaq soared to historic highs and record volatility in just a few short years, a widespread and quite fundamental disagreement emerged concerning whether or not the high-tech boom was nothing more than one huge bubble."

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