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The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.
John Maynard Keynes

While old-economy firms represent large, well-established companies that participated in more traditional industry sectors and had little investment or involvement in the technology industry, in contrast, the so-called new-economy realities are heavily involved in the technology sector and the more successful companies are able to build value at markedly higher growth rates. Good examples of new-economy stocks would be companies whose primary operations are involved in ecommerce or technology-based activities, such as Google, eBay, Cisco and Intel. These companies generally operate in significantly different business environments than old-economy stocks and their stocks are generally more volatile. New-economy stocks tend not to pay dividends, opting to reinvest their cash into business expansion.



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