old economy
From Longman Dictionary of Contemporary Englishold economyˌold eˈconomy (also the Old Economy) noun [singular] an economic system that is based on older types of industry such as steel, energy, and machinery Is the Old Economy really dead? —old economy adjective [only before noun] old economy practicesExamples from the Corpusold economy• He destroys all the humbug of the talk of equality-from domestic to workplace, from old economy to new technology.• All three served at the pinnacles of the old economy.