关键词: 新经济, 网络经济, 网络狂热

Abstract: This article maintains that there is not enough evidence to support the statement that America has entered a stage of "new economy" brought about by the development in high-tech industry. The author points out that the rapid growth of American economy in the 1990s was stimulated by a large amount of investment and high level consumption,which were not supported by private savings.Instead,it was caused by the “wealth effects” arisen from the heave inflow of foreign capital and rising prices of stocks.Therefore,the author concludes,the American “new economy”does not lay a solid economic foundation for long-term steady growth.On the other hand,we should make correct appraisal of the positive influences of high-tech activities and network economy on the performance of the U.S.economy.However the bubbles in the network economy cannot be praised.

Key words: new economy, web economy, network fever