Jonathan Haskel and Stian Westlake, Capitalism without capital: the rise of the intangible economy, Princeton University Press, 2018, 242 pages
Capitalism – or the market economy – has changed materially with the rise of intangibles. Or so Jonathan Haskel and Stian Westlake argue in this stimulating book.
Whereas once most business investment was of bricks and mortar, machines and vans, now an increasing share takes the form of the stuff we cannot touch. Well-recognised examples include