@article{47973,
      recid = {47973},
      author = {Haskel, Jonathan ;},
      title = {Capitalism Without Capital : The Rise of the Intangible  Economy.},
      pages = {293 pages :},
      abstract = {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, 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.},
      url = {http://tind.wipo.int/record/47973},
}