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当前，赞誉美国经济模式的“新经济论”举世关注。本文系统地归纳了新经济的各种主张，围绕生产率进行分析研究，通过对新经济论的论据（生产率上升）进行验证，得出的结论是：新经济论把仅适用于制造业（特别是耐用品部门）的假说，夸张成为整体经济的共同现象。作者认为，克林顿时期的经济景气仍然是由消费、投资所引导的凯恩斯循环的景气状态，并没有显示美国经济的结构性变化。如何将制造业的高生产率扩散到其他产业，提高整体经济的生产率，仍是克林顿政府今后面临的课题。
Currently, the “New Economy Theory” that praises the U.S. economic model has drawn worldwide attention. This paper systematically summarizes various opinions of the new economy, analyzes and studies the productivity, and validates the argument of the new economic theory (productivity rise), concluding that the new economic theory applies only to manufacturing (especially Durable goods sector) hypothesis, exaggerated as the common phenomenon of the overall economy. The author believes that Clinton’s economic climate is still dominated by the Keynes cycle, led by consumption and investment, and does not show the structural changes in the U.S. economy. How to spread the high productivity of manufacturing industries to other industries and increase the productivity of the economy as a whole remains a topic for the Clinton administration in the future.