MOORE'S LAW AND THE EMERGENCE OF THE NEW ECONOMY

dot-com crash, the short recession of 2001, and the tragedy of 9/111. The unusual combination of more rapid growth and slower inflation has touched off a strenuous debate about whether improvements in America’s economic performance can be sustained. A consensus has emerged that the development and deployment of information technology (IT) is the foundation of the American growth resurgence2. The mantra of the “new economy”—faster, better, cheaper—characterizes the speed of technological change and product improvement in semiconductors, the key enabling technology. MOORE’S LAW AND THE EMERGENCE OF THE NEW ECONOMY DALE W. JORGENSON SAMUEL W. MORRIS UNIVERSITY PROFESSOR HARVARD UNIVERSITY