NOVO GOSPODARSTVO ZA NOVI MILENIJ/ NEW ECONOMY FOR THE NEW MILLENNIUM

Abstract

Unqualified and low skill labor are characteristic in the industrial era that was kept as imperfect addition of the machine, and the management is primarily focused on productivity, which is a substantial share of realized modernization of the means of
production. The new economy is based on intellectual capital, experts and even employees must have expertise, because they work on robots and automated production lines, for which they need special skills. Also, the concept of the new economy is directly connected with the strengthening globalization trends and the development of IC technology. It is taken as a synonym for information society, knowledge society and knowledge-based society, the digital economy and the like. So, today there is no single definition of the new economy, and some of it are quite erroneously called new economy, as we are going to explain in the article with arguments. In fact, it is the economy based on knowledge and ideas of improving living standards and job creation to the extent that the innovative ideas and technological changes includes in the production processes and products and services. Thus, the new economy is the opposite pole from the old, because they differ by the groundlessness model and source of economic growth. Raw materials, materials, energy, money and economy of scale, are replaced by knowledge and technological changes. In this paper, we tried to highlight some interesting aspects of a new economy.