old economy
/ˌəʊld ɪˈkɒnəmi/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former economy; especially a state or system of political, social, or fiscal management or administration regarded as superseded, outmoded, or belonging to the past.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.