Sustaining the New Economy requires public policies that remain relevant to the technological changes that characterize it. This report on a STEP workshop highlights the need for information and the challenges faced in measuring the New Economy and sustaining its growth.

1 Front Matter; 2 I. Executive Summary; 3 II. Introduction; 4 III. Proceedings; 5 Introduction; 6 Welcome to the New Economy; 7 Panel I: Defining and Measuring the New Economy; 8 Raising the Speed Limit: U.S. Economic Growth in the Information Age; 9 Panel II: Drivers of the New Economy; 10 Semiconductors: The Arrival of the New Economy; 11 Semiconductors: Economics of the New Economy; 12 Microprocessors and Computers: Five Trends; 13 Microprocessors and Computers: The Phenomenon of Price Declines; 14 Panel III: Communications and Software; 15 Communications; 16 Software: The Challenge to Getting There; 17 Panel IV: Applications and Policy Issues; 18 Communications; 19 Economic Issues of E-Business; 20 E-Business Policy Issues; 21 Investments in Information Technology Applications; 22 Old Business to E-Business: The Change Dynamic; 23 Panel V: Roundtable Discussion; 24 IV. Appendices; 25 A. Raising the Speed Limit: U.S. Economic Growth in the Information Age; 26 B. Biographies of Speakers; 27 C. Participants List; 28 D. Bibliography