Definition of 'Old Economy'
A term for the old blue chip industries that enjoyed fabulous growth during the early parts of the century as industrialization around the globe, and particularly in the United States, expanded. Since the new economy has arrived, old economy companies have still experienced growth, but at a declining rate.
Investopedia explains 'Old Economy'
The old economy contrasts with the new economy, where technological innovation is key. Although old economy firms have been changed dramatically by technology, there is a limit to how much technology can continue to improve the industry.
Industries that are commonly considered to be involved in the old economy are energy, steel, and automobile manufacturers.