A New Economics for the New Economy

The enormous changes taking place in economic affairs around the world, especially since the com-mercial development of the internet along with other revolutions in electronic communications, raise a host of questions and issues of which this article addresses only three. These are: What is the new economy? Why do we need a new economics? Where do we begin the construction of a new economics? Simply put, our argument is that the economic revolution which we call the new economy calls for a serious re-thinking of the economics which provides a description and understanding of economic affairs in the new economic order, and that re-thinking begins with the issue of economic agent. We are convinced that the concept of the economic agent of the old economics should be replaced by a new version appropriate to the new economics.