Capitalism Without Capital

Stian Westlake , Jonathan Haskel

Capitalism Without Capital

21min

21min

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Since the early 2000s, economists around the world have begun to study and define a kind of investment that is significant because of its size and macroeconomic impact: intangible investments. The Internet and the spread of computers have been the driving force behind the change from a tangible to an intangible economy, a phenomenon that already existed in the last years of the 20th century. However, not only software and research are encompassed in this sphere: training, business process re-engineering, marketing, and design are now converging to form a complex and varied mosaic that needs to be understood and measured. In Capitalism without Capital we will discover that intangible investments are different from tangible ones because of four fundamental characteristics: they generate side effects, they are submerged, they are scalable and create synergies. Measuring and defining them now is fundamental to truly understand the economic development of our time.

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Analysis and key concepts

01.

How value calculations change

02.

The growth of intangible investments

03.

What favors intangible investments

04.

How intangible investments are measured

05.

The Four S's of Intangibles

06.

The other side of the coin: the consequences of intangible investments

07.

Banking: lending in the world of intangibles

08.

Use and limitations of venture capital

09.

Quotes

10.

Take-home message

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Many useful tips to:

  • Understand the dimensions and impact of intangible investments.
  • Dive into the concept of a new economy.
  • Learn how to finance development based on intangible investments.

Stian Westlake is head of the research and development team at Nesta, the UK's national innovation foundation, and is a ministerial consultant for the University of Science, Research, and Innovation.

Jonathan Haskel, Professor of Economics at the Imperial College of London, is considered an authority on innovation and productivity. He was previously head of the Department of Economics at the Queen Mary University in London and also taught in the United States and Canada.

Publishing house:

Princeton Univers. Press

Year:

2018

Pages:

296

ISBN:

978-0691183299