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1.
1. An imaginary economic system that will magically replace millions of jobs lost to outsourcing, downsizing and low-wage overseas competition.

2. A feel-good term used by politicians to distract attention from their own immense policy failures.

3. Something that's always "just around the corner" if we only "do the right things."
Michigan's governor said we must prepare for the New Economy by turning 400,000 unemployed auto workers into video game programmers and pastry chefs. That's the ticket!
by Peter Kobs May 03, 2010