Capitalism Without Capital: The Rise of the Intangible Economy Audiobook (Free)

The first comprehensive account of the growing dominance of the intangible economy Early in the twenty-first century, a quiet revolution occurred. For the first time, the major created economies begun to invest even more in intangible property, like style, branding, R&D, or software program, than in tangible possessions, like machinery, buildings, and computers. For a variety of businesses, from tech companies and pharma businesses to espresso shops and gyms, the capability to deploy assets that one may neither see about Capitalism Without Capital: The Rise of the Intangible Overall economy nor touch is increasingly the primary way to obtain long-term achievement. But this is not only a familiar tale from the so-called new overall economy. Capitalism without Capital shows that the growing importance of intangible assets in addition has played a role in some of the big economic changes from the last decade. The rise of intangible investment is normally, Jonathan Haskel and Stian Westlake claim, an underappreciated cause of phenomena from economic inequality to stagnating efficiency. Haskel and Westlake bring together a decade of research on how best to measure intangible investment and its effect on national accounts, showing the total amount different countries invest in intangibles, how this has changed as time passes, and the latest thinking on how to assess this. They explore the unusual economic characteristics of intangible expenditure, and discuss how these features make an intangible-rich economy fundamentally not the same as one based on tangibles. Capitalism without Capital concludes by presenting three possible scenarios for what the continuing future of an intangible globe may be like, and by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to develop their businesses, portfolios, and economies. Writer bio: Jonathan Haskel is normally professor of economics at Imperial College London. Stian Westlake is a older fellow at Nesta, the UK’s nationwide foundation for technology.