Jonathan Haskel Pořadí knih

The book explores the significant economic challenges stemming from our inability to adapt to an economy reliant on knowledge, ideas, and relationships. It delves into the difficulties of this transition and proposes solutions in public policy, business, and finance. The troubling state of wealthy economies—characterized by low productivity growth, high inequality, populist instability, and the climate crisis—can be traced back to an incomplete shift from tangible to intangible capital. A key issue is the slowdown in intangible investment since the financial crisis, exacerbated by inadequate institutions and strategies to promote and channel this investment effectively. Notably, many who resist the emergence of new institutions are not the expected "left-behinds," but rather affluent individuals and established organizations, including wealthy retirees and traditional financial institutions. The authors examine various attempts to address these institutional challenges, highlighting innovative policy experiments and business strategies within the context of the intangible economy. They discuss city policy, business finance, public investment, competition policy, and strategies for mitigating climate change. The book concludes with a political program aimed at overcoming the initial hurdles of this evolving 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, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, 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 larger economic changes of the past decade, including the growth in economic inequality and the stagnation of productivity. Jonathan Haskel and Stian Westlake explore the unusual economic characteristics of intangible investment and discuss how an economy rich in intangibles is fundamentally different from one based on tangibles. Capitalism without Capital concludes by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.