Capitalism without Capital : The Rise of the Intangible Economy / Jonathan Haskel, Stian Westlake.

Format:

Book

Author/Creator:

Haskel, Jonathan, author.

Westlake, Stian, author.

Language:

English

Subjects (All):

Economic forecasting.

Capitalism--Forecasting.

Capitalism.

Intangible property--Economic aspects.

Intangible property.

Physical Description:

1 online resource (278 pages) : illustrations, tables

Place of Publication:

Princeton, NJ : Princeton University Press, [2017]

Language Note:

In English.

Summary:

The first comprehensive account of the growing dominance of the intangible economyEarly in the twenty-first century, a quiet revolution occurred. For the first time, the major developed economies began to invest more in intangible assets, like design, branding, R&D, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, from tech firms and pharma companies to coffee shops and gyms, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success.But this is not just a familiar story of the so-called new economy. Capitalism without Capital shows that the growing importance of intangible assets has also played a role in some of the big economic changes of the last decade. The rise of intangible investment is, Jonathan Haskel and Stian Westlake argue, an underappreciated cause of phenomena from economic inequality to stagnating productivity.Haskel and Westlake bring together a decade of research on how to measure intangible investment and its impact on national accounts, showing the amount different countries invest in intangibles, how this has changed over time, and the latest thinking on how to assess this. They explore the unusual economic characteristics of intangible investment, and discuss how these features make an intangible-rich economy fundamentally different from one based on tangibles.Capitalism without Capital concludes by presenting three possible scenarios for what the future of an intangible world might be like, and by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.

Contents:

Frontmatter

Contents

Illustrations

Acknowledgments

Introduction

Part I The Rise of the Intangible Economy

Capital's Vanishing Act

How to Measure Intangible Investment

What's Different about Intangible Investment? The Four S's of Intangibles

Part II The Consequences of the Rise of the Intangible Economy

Intangibles, Investment, Productivity, and Secular Stagnation

Intangibles and the Rise of Inequality

Infrastructure for Intangibles, and Intangible Infrastructure

The Challenge of Financing an Intangible Economy

Competing, Managing, and Investing in the Intangible Economy

Public Policy in an Intangible Economy: Five Hard Questions

Summary, Conclusion, and the Way Ahead

Notes

References

Index

Notes:

Includes bibliographical references (pages 243-265) and index.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 23. Mai 2019)

ISBN:

9781400888320

1400888328

OCLC:

1132666727