[Danimal16]

Z-Man,

So what is the New Economy other than the substitution of former paper based tools for digital tools? If your professor is stating that the administrative part of the business world has subplanted the production and operation part, no wonder there is an erosion in the middle class. The production of digital tools is a product in itself, but it is not neccessary, at a basic level, for life itself. Maybe they need to rethink what an economy is.

And no, given the set of circumstances as well as the definition, administration effects everything and it is a support function that supports the work of providing services and goods. If there are no goods and services there is no need for an administrative support organization and therefore no need for a "new economy".

Hardware and software are just better tools than filing cabinets, carbon paper and pencils. The function is the same.

Remember, the hammer may be substantial but it is the little nail that does all of the important work.