Summary of Capitalism without Capital

Capitalism without Capital: The Rise of the Intangible Economy, by Jonathan Haskel and Stian Westlake, explores the role of intangible assets in modern economies and the implications for businesses, governments and policymakers. The authors analyze the changes in the economy that have been brought about by the rise of intangible investment and the resulting shift in the way businesses operate and compete. They look at the implications of this new reality for economic measurements, the labor market, and the structure of firms, as well as the impact of intangible investment on the public sector and the environment. The authors conclude that the intangible economy is here to stay and presents novel opportunities, as well as challenges, to businesses, governments, and policymakers.