Summary Of Jonathan Haskel Stian Westlake S Capitalism Without Capital

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.

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.

Capitalism without Capital is an account of the growing importance of the intangible economy. Today, for the first time, most developed economies are investing less in tangible, physical assets such as machinery and factories, than in intangible assets such as software, research and development capability. These intangibles are hugely valuable but do not exist in physical form. The blinks ahead explore the nature of this trend, as well as its effects on business, the economy and public policy.

Please note: This is a companion version & not the original book. Sample Book Insights: #1 The change in investment is not primarily about information technology. It is about the rise of intangible investment, in ideas, knowledge, aesthetic content, software, brands, and networks and relationships. #2 Gyms are a great example of how the intangible economy is changing the way businesses operate. In 2017, a gym’s assets can be touched and seen, while in 1977, many of the business’s assets could not be touched. #3 The gym also has a second business, Bodypump, which is a type of exercise called high-intensity interval training. It is designed and owned by the company that runs the gym, Les Mills International. They have 130,000 instructors worldwide who teach their programs. #4 The gym industry has changed in two different ways. The part that looks similar to how it did in the 1970s has become infused with systems, processes, relationships, and software. This is not so much innovation, but innervation.

From the acclaimed authors of Capitalism without Capital, radical ideas for restoring prosperity in today’s intangible economy The past two decades have witnessed sluggish economic growth, mounting inequality, dysfunctional competition, and a host of other ills that have left people wondering what has happened to the future they were promised. Restarting the Future reveals how these problems arise from a failure to develop the institutions demanded by an economy now reliant on intangible capital such as ideas, relationships, brands, and knowledge. In this groundbreaking and provocative book, Jonathan Haskel and Stian Westlake argue that the great economic disappointment of the century is the result of an incomplete transition from an economy based on physical capital, and show how the vital institutions that underpin our economy remain geared to an outmoded way of doing business. The growth of intangible investment has slowed significantly in recent years, making the world poorer, less fair, and more vulnerable to existential threats. Haskel and Westlake present exciting new ideas to help us catch up with the intangible revolution, offering a road map for how to finance businesses, improve our cities, fund more science and research, reform monetary policy, and reshape intellectual property rules for the better. Drawing on Haskel and Westlake’s experience at the forefront of finance and economic policymaking, Restarting the Future sets out a host of radical but practical solutions that can lead us into the future.

Enthusiasts look forward to a time when tiny machines reassemble matter and process information with unparalleled power and precision. But is their vision realistic? Where is the science heading? As nanotechnology (a new technology that many believe will transform society in the next one hundred years) rises higher in the news agenda and popular consciousness, there is a real need for a book which discusses clearly the science on which this technology will be based. Whilst it is most easy to simply imagine these tiny machines as scaled-down versions of the macroscopic machines we are all familiar with, the way things behave on small scales is quite different to the way they behave on large scales. Engineering on the nanoscale will use very different principles to those we are used to in our everyday lives, and the materials used in nanotehnology will be soft and mutable, rather than hard and unyielding. "Soft Machines" explains in a lively and very accessible manner why the nanoworld is so different to the macro-world which we are all familiar with. Why does nature engineer things in the way it does, and how can we learn to use these unfamiliar principles to create valuable new materials and artefacts which will have a profound effect on medicine, electronics, energy and the environment in the twenty-first century. With a firmer understanding of the likely relationship between nanotechnology and nature itself, we can gain a much clearer notion of what dangers this powerful technology may potentially pose, as well as come to realise that nanotechnology will have more in common with biology than with conventional engineering.

A New York Times Bestseller A Wall Street Journal Bestseller A New York Times Notable Book of 2020 A New York Times Book Review Editors’ Choice Shortlisted for the Financial Times and McKinsey Business Book of the Year A New Statesman Book to Read From economist Anne Case and Nobel Prize winner Angus Deaton, a groundbreaking account of how the flaws in capitalism are fatal for America's working class Deaths of despair from suicide, drug overdose, and alcoholism are rising dramatically in the United States, claiming hundreds of thousands of American lives. Anne Case and Angus Deaton explain the overwhelming surge in these deaths and shed light on the social and economic forces that are making life harder for the working class. As the college educated become healthier and wealthier, adults without a degree are literally dying from pain and despair. Case and Deaton tie the crisis to the weakening position of labor, the growing power of corporations, and a rapacious health-care sector that redistributes working-class wages into the pockets of the wealthy. This critically important book paints a troubling portrait of the American dream in decline, and provides solutions that can rein in capitalism's excesses and make it work for everyone.

We create organizations because we need to get a job done—something we couldn't do alone—and join them because we’re inspired by their missions (and our paycheck). But once we’re inside, these organizations rarely feel inspirational. So where did it all go wrong? In The Org, Ray Fisman and Tim Sullivan explain the tradeoffs that every organization faces, arguing that this everyday dysfunction is actually inherent to the very nature of orgs. The Org diagnoses the root causes of that malfunction, beginning with the economic logic of why organizations exist in the first place, then working its way up through the org’s structure from the lowly cubicle to the CEO’s office. You'll learn: The purpose of meetings and why they will never go away Why even members of al Qaeda are required to submit travel and expense reports What managers are good for How the army and other orgs balance marching in lockstep with fostering innovation Why the hospital administration—not the heart surgeon—is more likely to save your life Why CEOs often spend more than 80 percent of their time in meetings—and why that's exactly where they should be (and why they get paid so much)