At its core, the new economy is based on culture: on the culture of innovation, on the culture of risk, and the culture of expectations, and, ultimately on the culture of hope in the future.

The central economic imperative of the new economy is to amplify relationships.

In a poetic sense the prime goal of the new economy is to undo – company by company, industry by industry – the industrial economy.

The new administration will usher in a new era of hope premised on a revitalizing economy, the happiness of our people, and the blossoming of our culture. To begin with, economic revitalization is going to be propelled by a creative economy and economic democratization. Across the world, we are witnessing an economic paradigm shift. A creative economy is defined by the convergence of science and technology with industry, the fusion of culture with industry, and the blossoming of creativity in the very borders that were once permeated by barriers. It is about going beyond the rudimentary expansion of existing markets, and creating new markets and new jobs by building on the bedrock of convergence.

In a unique sense we stand today at the dawn of an entirely new economic age. This is increasingly obvious to all thinking people. Because of the triumph of science—the release of the energy of the atom—the future of mankind and the type of the incoming civilization is unpredictable. The changes which are imminent are so far-reaching that it is apparent that the old economic values and the familiar standards of living are bound to pass away; no one knows what will take their place.

The other economy [or "periphery economy"] is populated by relatively small firms. These enterprises are the ones usually dominated by a single individual or family. The firm's sales are realized in restricted markets. Profits and retained ... Techniques of production and marketing are rarely as up to date as those in the center.

[The national economy is] a set of powers and ways used by a nation to keep and improve physical existence of its members... Moral good of a nation is a consequence of its education, and its physical good is a result of national economy.

Two Core Abilities for Thriving in the New Economy 1. The ability to quickly master hard things. 2. The ability to produce at an elite level, in terms of both quality and speed.

History does not exactly repeat itself. Modern mechanical economy, nation-wide, even worldwide in its sweep, is a novel experiment. If civilization-the great society of today-is to continue, then the problem becomes one of making the huge superstructure of economics and politics function for the essential purposes of life and at the same time of maintaining a sound and creative community life at the basis.

The capitalist era is passing . . . not quickly, but inevitably. A new economic paradigm—the Collaborative Commons—is rising in its wake that will transform our way of life. We are already witnessing the emergence of a hybrid economy, part capitalist market and part Collaborative Commons. The two economic systems often work in tandem and sometimes compete. They are finding synergies along each other’s perimeters, where they can add value to one another, while benefiting themselves. At other times, they are deeply adversarial, each attempting to absorb or replace the other.

There is a growing awareness – from the grassroots to academia – that the real economy is the natural world, on which we ultimately depend for all of our needs. Only when we embrace a structural shift in the current economy – away from dependence on a corporate-run global marketplace, towards diversified local systems – will we be able to live in a way that reflects this understanding.

The industrial economy is based on systematic theft from land bases, and the conversion of these living communities into dead products. That’s what an industrial economy is. The economy does not create value for the real world: It destroys the real world.

It is the big enterprises which occupy the strategic centers. Most small businessmen, independents, professionals and even farmers gain their livelihood largely as suppliers or as distributors for the large enterprises. It is the large enterprises which establish the price and wage policies of the nation. The pattern of union-management relations is set by the contracts drawn between big labor and big business. Governmental regulations grow up to harness and channel the economic power and practice of large enterprise. The personnel policies adopted by the large industry become the models for the entire industrial society.

Instead of the primitive raw material economy, we will create a smart economy generating unique knowledge, new useful things and technologies. Instead of the archaic society, in which the leaders think and make decisions for everyone, we will become a country of intelligent, free and responsible people.