Capitalism Without Capital by Jonathan Haskel audiobook

Capitalism Without Capital: The Rise of the Intangible Economy

By Stian Westlake  and Jonathan Haskel
Read by Derek Perkins

Recorded Books, Inc.
8.94 Hours Unabridged
Format: Digital Download (In Stock)
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    ISBN: 9781501978128

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  • $42.99

    ISBN: 9781664466142

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 developed economies began to invest more in intangible assets, like design, branding, R&D, or 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. Author bio: Jonathan Haskel is professor of economics at Imperial College London. Stian Westlake is a senior fellow at Nesta, the UK's national foundation for innovation.

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Summary

Summary

A Financial Times Best Book of the Year for 2017

An Economist Best Book of 2017

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 developed economies began to invest more in intangible assets, like design, branding, R&D, or 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. Author bio: Jonathan Haskel is professor of economics at Imperial College London. Stian Westlake is a senior fellow at Nesta, the UK's national foundation for innovation.

Editorial Reviews

Editorial Reviews

"[Capitalism without Capital] needs to be read by anyone seeking to understand the nature of modern capitalism and its politics.” Times (London)
“[Haskel and Westlake] describe in an entertaining and engaging way why governments need to count innovation as an engine of profit.” Nature
“The historical view of ‘capital as something tangible persists and limits our thinking,’ the authors argue. To be sure, exactly which intangible assets qualify as capital can be debated endlessly. In Capitalism without Capital, [they] choose a broad definition and explore its implications…[and] make a good case that we don’t know as much as we think because some of our tools for measuring economic performance are out of date.” Wall Street Journal

Reviews

Reviews

Author

Author Bio: Jonathan Haskel

Author Bio: Jonathan Haskel

Titles by Author

Author Bio: Stian Westlake

Author Bio: Stian Westlake

Titles by Author

Details

Details

Available Formats : Digital Download, CD
Category: Nonfiction/Business & Economics
Runtime: 8.94
Audience: Adult
Language: English