What is Old Economy?
Old Economy describes an economy or even a group of industries that does not rely on technology or technological advancement.
How Does Old Economy Work?
For example, horse farms, bread baking, landscaping and prostitution are old economy industries. Their fundamental processes have remained essentially the same for hundreds of years. To be sure, technology has assisted in the communication and equipment development in these industries, but the primary activities involved are largely the same as they were a hundred years ago.
Why Does Old Economy Matter?
The New Economy.is slowly replacing the Old Economy, but as our example shows, many Old Economy industries endure and have little dependence on technology's whims. Having said that, it is often much hipper to be part of the
Personalized Financial Plans for an Uncertain Market
In today’s uncertain market, investors are looking for answers to help them grow and protect their savings. So we partnered with Vanguard Advisers -- one of the most trusted names in finance -- to offer you a financial plan built to withstand a variety of market and economic conditions. A Vanguard advisor will craft your customized plan and then manage your savings, giving you more confidence to help you meet your goals. Click here to get started.
Read This Next
If you're like the majority of investors, I'll bet you have a negative view of stocks trading on the "...Read More →