The first comprehensive account from 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 begun to invest even more in intangible resources, like style, branding, R&D, or software, than in tangible property, like machinery, structures, and computers. For a variety of businesses, from tech firms and pharma businesses to coffee shops and gyms, the ability to deploy assets that one can neither see about Capitalism Without Capital: The Rise of the Intangible Overall economy nor touch is definitely increasingly the main way to obtain long-term achievement. But this isn’t just a familiar tale from the so-called fresh economy. Capitalism without Capital shows that the growing need for intangible assets in addition has played a role in some of the big economic changes from the last decade. The rise of intangible purchase is, Jonathan Haskel and Stian Westlake claim, an underappreciated cause of phenomena from financial inequality to stagnating efficiency. Haskel and Westlake gather a decade of research on how to measure intangible investment and its impact 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 best to assess this. They explore the uncommon financial features of intangible investment, and talk about how these features make an intangible-rich overall economy fundamentally not the same as one predicated on tangibles. Capitalism without Capital concludes by showing three possible scenarios for what the continuing future of an intangible world may be like, and by outlining how managers, investors, and policymakers can exploit the features of the intangible age to grow their businesses, portfolios, and economies. Writer bio: Jonathan Haskel can be teacher of economics at Imperial University London. Stian Westlake is definitely a older fellow at Nesta, the UK’s national foundation for invention.