Constructing the New Economy: A Discursive Perspective

Christian De Cock*, James Fitchett, Christina Volkmann

*Corresponding author for this work

Research output: Contribution to journalJournal articleResearchpeer-review


The rise and fall of the 'New Economy' at the turn of the millennium, most visibly evidenced by the stellar rise and subsequent collapse of the Nasdaq composite index of technology stocks, represents one of the most significant business phenomena in recent times. This paper examines the 'New Economy' phenomenon as a culturally embedded discourse through an analysis of 133 print advertisements collected from the UK edition of the Financial Times between February and December 2000. It investigates the social construction of the concept 'New Economy' in a rapidly changing business environment. The contribution of the paper lies in the empirical study of discursive phenomena in late capitalist societies. From a discursive perspective, the 'New Economy' can be seen as a signifier that points to itself, whose form is its very content. The paper suggests the 'New Economy' must be understood in terms of its ability to accommodate multiple meanings, and it is this very ability which is profoundly ideological, in that it allows essentially socio-historical obsessions and anxieties (e.g. about novelty and change) to appear as seemingly 'natural' or logical behaviour.

Original languageEnglish
JournalBritish Journal of Management
Issue number1
Pages (from-to)37-49
Publication statusPublished - 2005
Externally publishedYes

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