Definition of old economy in English:

old economy

noun

  • 1A former economy; especially a state or system of political, social, or fiscal management or administration regarded as superseded, outmoded, or belonging to the past.

  • 2Specifically. The economy as it relates to established manufacturing industries, agriculture, etc., as opposed to high-technology industries such as telecommunications, computers, Internet commerce, etc.; these industries as a sector of the economy.

adjective

  • Of or relating to established manufacturing industries, agriculture, etc., as opposed to high-technology industries. Now: especially of or relating to the economy as it was before the advent of commerce on the Internet; of or relating to a company that engages in little or no online commerce.

Origin

Mid 19th century; earliest use found in Biblical Repertory. From old + economy.

Pronunciation

old economy

/ˌəʊld ɪˈkɒnəmi/