Mr. Mandel developed his theory in the face of skepticism from academics and economic forecasters, who weren't ready for such a change. "To some people, who had staked their reputation on the fact the economy doesn't change, this was threatening," he says.
"He's not just a reporter but a generator of new ways of looking at the economy," said Seymour Zucker, senior editor, Business Week.
Mr. Mandel won a Gerald Loeb award in 1998 for his work on the New Economy.
Mr. Mandel received a Ph.D. in economics from Harvard and draws on that training to help readers understand the subject matter at hand. "(Economics) doesn't have to be complicated. It can be pretty simple if it's explained clearly," he says.
He also teaches economics classes to his colleagues at Business Week.
His book, "High Risk Society: Peril and Promise in the New Economy," was published in 1996.