Podcast appearances and mentions of stian westlake

In a desperate attempt to be relevant given the US Election, Tom and Stuart dedicate this episode of The Studies Show to talking about government investment in science. How bad is it if politicians cut the science budget? Exactly how much do you get back for every pound or dollar spent on science—and how is that even calculated in the first place?The Studies Show is brought to you by Works in Progress magazine—a journal of science, history, and technology that discusses the secrets behind human progress. You can read their published essays at worksinprogress.co, or their shorter pieces on their Substack at worksinprogress.news.Show notes* Nature's editorial: “The world needs a President who respects evidence”* Trump's science budget cuts: NIH/EPA, CDC* Nature's editorial on the “surge in far-right parties” in Europe cutting the science budget* Tom's 2015 BuzzFeed News article on science budget cuts in the UK* Article on Argentinian science budget cuts under Javier Milei* Andre Geim and Nancy Rothwell's 2024 Guardian article on how £1 of science funding gets you £12 back* Jonathan Haskel and Stian Westlake's book, Capitalism Without Capital* Haskel's 2014 paper finding a £4 return on investment for every £1 spent on science* 2024 UK National Centre for Universities and Business report finding that £1 of science investment leads to £3-4 of private investmentCreditsThe Studies Show is produced by Julian Mayers at Yada Yada Productions. We're grateful to Jonathan Haskel for talking to us for this episode; as always, any mistakes are our own. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.thestudiesshowpod.com/subscribe

每天早晨8:30 讓我們一起解讀財經時事 參加財經皓角會員 : https://yutinghao.finance 主持人：游庭皓（經濟日報專欄作家、小一輩財經人話翻譯機） 音頻收聽請在Podcast或Soundcloud搜尋『游庭皓的財經皓角』 Telegram: https://t.me/yu_finance 我的粉絲專頁:https://reurl.cc/n563rd 網站參加會員手冊 https://reurl.cc/0Xlnob 歡迎來信給小編幫您處理 jackieyutw@gmail.com """"" 打賞網址 ：https://p.ecpay.com.tw/B83478D """""" 書名：衝破經濟停滯 作者： 喬納森‧哈斯克爾, 史蒂安‧韋斯萊克 原文作者： Jonathan Haskel, Stian Westlake 譯者： 曹嬿恆 出版社：商周出版 出版日期：2023/03/04 https://reurl.cc/zAqOme (YT抽書的朋友要公開訂閱我們財經皓角頻道唷♥️) (FB抽書的朋友要公開分享直播影片+您想要抽書留言♥️) 《早晨財經速解讀》是游庭皓的個人知識節目，針對財經時事做最新解讀，開播於2019年7月15日，每日開盤前半小時準時直播。議題從總體經濟、產業動態到投資哲學，信息量飽滿，為你顛覆直覺，清理投資誤區，用更寬廣的角度帶你一窺投資的奧秘。 免責聲明：《游庭皓的財經皓角》頻道為學習型頻道，僅用於教育與娛樂目的，無任何證券之買賣建議。任何形式的投資皆涉及風險，投資者需進行自己的研究，持盈保泰。

In this lecture, Professor Jonathan Haskel and Stian Westlake join us to discuss their latest book ‘Restarting the future: How to fix the intangible economy'. Our economies have become increasingly reliant on intangible assets that derive their value from ideas, knowledge and relationships rather than material properties. Haskel and Westlake explore how intangible assets differ from tangible ones and why it is important that the institutions that govern our economies keep up with the intangible revolution. This public event took place on 28 February 2023. It forms part of the ‘Polycrisis!' event series hosted by the University of Bath Institute for Policy Research (IPR).

This week's #RailNatter is finally tackling the big question: should we abolish the Treasury? Luckily, Stian Westlake is joining us to attempt to give an answer! Why should we do it? What would take its place? Is this a daft suggestion, or is there a meaningful, constitutional benefit to obliterating the department that arguably has caused the UK the most damage throughout its history? Enjoyed this? Please do consider supporting #RailNatter at https://patreon.com/garethdennis or throw loose change at me via https://paypal.me/garethdennis. Join in the discussion at https://garethdennis.co.uk/discord.

The past two decades have witnesses 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. Listen in as our guest Stian Westlake gives us some key insights from the book he co-authored with Jonathan Haskel, Restarting the Future-How to fix the intangible economy. In the podcast we discuss 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.

This week Mark Mills expands on his Wall Street Journal review of the book Restarting the Future: How to Fix the Intangible Economy by Jonathan Haskel and Stian Westlake.  

This week Mark Mills expands on his Wall Street Journal review of the book Restarting the Future: How to Fix the Intangible Economy by Jonathan Haskel and Stian Westlake. Source

This week Mark Mills expands on his Wall Street Journal review of the book Restarting the Future: How to Fix the Intangible Economy by Jonathan Haskel and Stian Westlake. Source

Patrick Maguire speaks to former Treasury Minister John Glen, Poppy Trowbridge, who was Special Adviser to the former Chancellor Philip Hammond, Jeevun Sandher a former economist at HM Treasury and the Department of Work and Pensions and Stian Westlake, the CEO of the Royal Statistical Society to talk all things Treasury.PLUS Libby Purves and Patrick Kidd discuss England's jubilant victory and being an influencer. See acast.com/privacy for privacy and opt-out information.

Andrew Carter speaks to Chief Executive of the Royal Statistical Society and former government advisor Stian Westlake about his new book, Restarting the Future: How to Fix the Intangible Economy, which he co-authored alongside Jonathan Haskel. This episode explores how there has been an incomplete transition from an economy based on physical capital to one based on intangible capital - such as ideas, brands, and knowledge. Westlake argues that this has left our economic institutions geared to an outmoded way of doing business, and that an institutional refresh is needed to drive growth and address inequalities. This episode is part of Centre for Cities' City Talks series. Please rate, review and share the episode if you enjoyed it.

Everyone seems to think the world economy has taken a wrong turn, but nobody seems to agree on the reasons why. What if the culprit is the world's hidden transition from tangible to intangible assets? In this episode of Risk Talking, Royal Statistical Society chief executive Stian Westlake joins Allison Schrager to define the intangible economy and explain how it affects the world around us. His new book, co-authored with Jon Haskel and called Restarting the Future: How to Fix an Intangible Economy, is out now.

Hub Dialogues (part of The Hub, Canada's daily information source for public policy – https://www.thehub.ca) are in-depth conversations about big ideas from the worlds of business, economics, geopolitics, public policy, and technology.The Hub Dialogues feature The Hub's editor-at-large, Sean Speer, in conversation with leading entrepreneurs, policymakers, scholars, and thinkers on the issues and challenges that will shape Canada's future at home and abroad.This episode of Hub Dialogues features host Sean Speer in conversation with British economist Jonathan Haskel about his influential, new book (co-authored with Stian Westlake), Restarting the Future: How to Fix the Intangible Economy. If you like what you are hearing on Hub Dialogues consider subscribing to The Hub's daily email newsletter featuring our insights and analysis on public policy issues. Subscription is free. Simply sign up here: https://newsletter.thehub.ca/.The Hub is Canada's leading information source for public policy. Stridently non-partisan, The Hub is committed to delivering to Canadians the latest analysis and cutting-edge perspectives into the debates that are shaping our collective future.Visit The Hub now at https://www.thehub.ca. Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.

Today's topic is the intangible economy, what it means for competition, policy, inequality, and so much more. For fifty years, the percentage of investment in corporate America and elsewhere allocated to intangible assets has risen slowly but steadily as a percentage of the total. An increasingly intangible rich economy has a meaningful impact on the way companies are valued, how startups are financed, how economic data is measured and reported, and the effectiveness of policy makers' tools to manage the economy. A paper from McKinsey states that over the past 25 years the share of total investment in intangibles increased by 29 percent in the United States and ten European countries. Rising investment in intangibles has been linked with increasing total factor productivity of entire economies. This could indicate that the deceleration of productivity growth over the past decade partly reflects a slowdown in investment in intangible assets. That is one of the many contentions of co-authors Jonathan Haskel and Stian Westlake in their fascinating new book Restarting the Future: How to Fix the Intangible Economy. I caught up with Professor Haskel for the New Books Network, and here is a portion of that discussion. New Books NetworkKick the Dogma

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: How to Fix the Intangible Economy (Princeton UP, 2022) sets out a host of radical but practical solutions that can lead us into the future. John Emrich has worked for decades years in corporate finance, business valuation and fund management. He has a podcast about the finance/investment space called Kick the Dogma. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

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: How to Fix the Intangible Economy (Princeton UP, 2022) sets out a host of radical but practical solutions that can lead us into the future. John Emrich has worked for decades years in corporate finance, business valuation and fund management. He has a podcast about the finance/investment space called Kick the Dogma.

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: How to Fix the Intangible Economy (Princeton UP, 2022) sets out a host of radical but practical solutions that can lead us into the future. John Emrich has worked for decades years in corporate finance, business valuation and fund management. He has a podcast about the finance/investment space called Kick the Dogma. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/public-policy

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: How to Fix the Intangible Economy (Princeton UP, 2022) sets out a host of radical but practical solutions that can lead us into the future. John Emrich has worked for decades years in corporate finance, business valuation and fund management. He has a podcast about the finance/investment space called Kick the Dogma. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics

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: How to Fix the Intangible Economy (Princeton UP, 2022) sets out a host of radical but practical solutions that can lead us into the future. John Emrich has worked for decades years in corporate finance, business valuation and fund management. He has a podcast about the finance/investment space called Kick the Dogma. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

April 1, 2022--Bob Bushansky speaks with Stian Westlake, co-author of Restarting The Future — How To Fix The Intangible Economy. Stian Westlake is the CEO of the Royal Statistical Society of Great Britain. He believes that with the decline of manufacturing, the intangible economy — intellectual property, R & D, software, design, etc. — is the future and it needs fixing.

Stian Westlake is the chief exec at the Royal Statistical Society, and before that he was a policy advisor to government and the executive director at Nesta. He is the co-author with Jonathan Haskel of Capitalism without Capital, and they have a new book out, Restarting the Future (22 March 2022). Stian discusses how recessions might be different under an intangible economy. I ask him (H/T Tyler Cowen) how national security concerns might be different in a very intangible world. Part of his answer: ...if you are an interconnected, relatively open economy, and Russia was always the most relatively interconnected of the BRIC [Brazil, Russia, India, China] countries, the intangible economy kind of makes it easier to turn off those taps in a way…. how dependent some of these kinds of more security based, more military based factors have been on intangible assets. We've probably all seen the stories of the dependence of the Russian air force on US GPS devices, which has led to them being more observable and perhaps has played a role in the fact that they have not been as present in the conflict as people thought they would be. I think that kind of interconnectivity is like many things in the intangible economy. It's great for winners, it's great if you're the US or if you're a US ally and it's probably not so great for the losers. … We chat about these observations: Stagnation Inequality Dysfunctional Competition Fragility Inauthenticity And Stian offers an intangible lens to explain the observations. We discuss: BS jobs and whether culture and trust might be upstream of this. Why we need new institutions to tackle intangible challenges, whether this would be more technocractic and if there is a political economy challenge on this. The importance of where the intangible meets the tangible, for instance, we have heat pump technology but not the intangible systems and ideas to install them. Sanitation is “hardware” but building and co-ordinating all this is an intangible and institutional challenge more than a hardware challege. What the trade-off is between losing red tape and increasing the risk of corruption. Stian argues for why the tax treatment of debt and equity would be a good idea (while acknowledging this would be politically hard). We play over/under rated on: Innovation Prizes, Blogging, Sugar tax, Carbon tax, Plastic Bag Tax, Innovation agencies, GDP and UBI, universal basic income. Stian ends with some life and career advice. Video and transcript are available here, with further links.

Today's episode is about something you might have noticed just by looking around you. Especially if you're old enough.The economy has been shifting away from the material and towards the intangible -- things like data, design, personality, research, ways of expressing ourselves. The importance of these things has grown, reflected in the investments that businesses have made. More money now goes to branding, and research and development, training, and software, and the tech we love to use for pleasure and for work. Today's episode is all about the profound and subtle consequences of this shift. And it's about why the economy and society have lagged behind it.Joining Cardiff to explain it all is Stian Westlake. Stian and his co-author Jonathan Haskel wrote a book a few years ago called “Capitalism without Capital”, that chronicled the trend towards the intangible economy. And they have a new book out now called “Restarting the Future”, which explains how people and businesses and policymakers can finally catch up to the trend -- and harness it to make the world better. See acast.com/privacy for privacy and opt-out information.

In this episode of the McKinsey Global Institute's Forward Thinking podcast, co-host Janet Bush talks with Jonathan Haskel and Stian Westlake. Jonathan Haskel is professor of economics at Imperial College Business School at Imperial College London and an external member of the Monetary Policy Committee of the Bank of England. Stian Westlake is chief executive of the Royal Statistical Society in the United Kingdom. Haskel and Westlake talk about their pioneering work on intangible assets: how to define them to reflect their growing role in companies and economies, the benefits and risks, and how to enable a smoother transition to a dematerialized economy with such assets at its core. They answer questions including the following: ● So we really are now in the knowledge and know-how economy. Is this a new era for capitalism? ● Are intangibles good for us? ● How do you tell whether investment in intangibles is smart or dumb? ● Are intangibles a recipe for inequality? ● What needs to be fixed to ease the transition to the intangibles economy? This conversation was recorded in December 2021. To read a transcript of this episode, visit: https://mck.co/HaskelWestlake Follow @McKinsey_MGI on Twitter and the McKinsey Global Institute on LinkedIn for more.See www.mckinsey.com/privacy-policy for privacy information

In this episode of the McKinsey Global Institute's Forward Thinking podcast, co-host Janet Bush talks with Jonathan Haskel and Stian Westlake. Jonathan Haskel is professor of economics at Imperial College Business School at Imperial College London and an external member of the Monetary Policy Committee of the Bank of England. Stian Westlake is chief executive of the Royal Statistical Society in the United Kingdom. Haskel and Westlake talk about their pioneering work on intangible assets: how to define them to reflect their growing role in companies and economies, the benefits and risks, and how to enable a smoother transition to a dematerialized economy with such assets at its core. They answer questions including the following: ● So we really are now in the knowledge and know-how economy. Is this a new era for capitalism? ● Are intangibles good for us? ● How do you tell whether investment in intangibles is smart or dumb? ● Are intangibles a recipe for inequality? ● What needs to be fixed to ease the transition to the intangibles economy? This conversation was recorded in December 2021. To read a transcript of this episode, visit: https://mck.co/HaskelWestlake Follow @McKinsey_MGI on Twitter and the McKinsey Global Institute on LinkedIn for more. Read more > Listen to the podcast (duration: 39:16) >

"Assets that you can't touch or feel are been becoming more and more important," says Stian Westlake, coauthor of Capitalism Without Capital.

Prof. Johnathan Haskel and Forum Fellow Nicolas Wittstock discuss Johnathans' book "Capitalism without Capital - the rise of the intangible economy" (with Stian Westlake). In it, the authors argue that that business investment in intangible capital - like software, knowledge, networks, patents, and processes - are growing in economic importance. This has crucial consequences, as these economic assets have special properties that make them categorically different from more conventional ones.

Our guest is Stian Westlake, co-author of ‘Capitalism without Capital: The Rise of the Intangible Economy’ and we discuss the implications of an economy built increasingly on intangible assets, even more so in the post-pandemic world. In this podcast, we discuss the four S’s that explain how intangible assets behave differently than tangible ones, why we’re not seeing more economic growth or higher productivity right now, even though intangible assets are more scalable, what governments need to do to mitigate the increased income inequality that’s occurring in part due to the rise of intangible investments, and more. Stian serves as the Chief Executive of the Royal Statistical Society. Previously, he served as an advisor to three British ministers for science, innovation, research, and higher education. He also led the policy and research team at Nesta — UK’s National Foundation for Innovation.

In this video I will talk about the Capitalism Without Capital: The Rise of the Intangible Economy book by Jonathan Haskel and Stian Westlake. We live in a new era of capitalism, when we invest in assets that we can't touch. This book is about intangible assets and it's properties, why are companies investing in it and how it plays a part in our economy. Twitter: https://twitter.com/AttilaonthWorld YouTube channel: https://www.youtube.com/channel/UCADpTO2CJBS7HNudJu9-nvg

The UK government used a statistical algorithm to alter children’s grades for exams missed in lockdown. But critics have argued that this algorithm, which used old data on school performance, unfairly stigmatised pupils from poorer backgrounds. Stian Westlake from Britain’s Royal Statistical Society speaks to Gareth and Bill about the challenges of creating such an algorithm and where the government went wrong. The Language of Trolls What is it like to work as a Twitter troll? Researcher Sergei Monakhov, from the Friedrich Schiller University in Germany, used this question to discover how the language used by trolls is different from that used by regular users. He discusses how these patterns can be used to spot troll’s social media posts much more quickly. Saving lives with data in Africa A digital tool-kit has been designed to help governments and health organisations in Africa tackle the spread of Covid-19. Dr. Sema Sgaier, executive director of the Surgo Foundation describes the Africa Covid-19 Community Vulnerability Index, which maps regional data on health, economic, and social robustness to find where Covid might hit hardest. (Photo: Student protesters hold up banners. Credit: Andrew Milligan/PA) Producer: Julian Siddle

This week we have an interview with Sarah Caro, who describes herself on Twitter as ‘Editorial Director for Social Sciences at Princeton University Press, long-suffering Arsenal fan and qualified optimist'. In this interview we focus mostly on the first of those, though the third clearly influences everything Sarah does.As you'll hear, she's had an amazingly dynamic career, having worked at a significant number of leading publishers in senior roles across a number of disciplines. Along with her management role, so still finds time to commission and edit books: she's the editor of one of Princeton's highest-grossing, highest-profile recent titles, Capitalism Without Capital by Jonathan Haskel and Stian Westlake.Of PUP's place in economics publishing, Sarah says:Princeton has always been very good, especially in economics, at commissioning high profile authors and fashioning them so that they still have huge intellectual heft and are highly respected within the academy, but they're read by a very wide audience of people outside the academy, including policymakers and people working in the finance industry, and just generally people who are involved in all aspects of government and business.The post Conversations with Publishers: Sarah Caro, Princeton University Press appeared first on The Hedgehog and the Fox. Hosted on Acast. See acast.com/privacy for more information.

What is an “intangible asset,” and why are we investing so much in them? How are these so-called intangibles reshaping our economy, as well as our fundamental approach to economic concerns? Joining me today to answer these questions is Stian Westlake, the co-author of Capitalism without Capital: The Rise of the Intangible Economy. Stian is […] The post https://www.aei.org/multimedia/stian-westlake-on-the-rise-of-the-intangible-economy/ (Stian Westlake on the rise of the intangible economy) appeared first on https://www.aei.org (American Enterprise Institute - AEI).

Stian Westlake joins City Journal editor Brian Anderson to discuss the future of productivity and how institutions and policymakers can adapt to the new "intangible" economy. Throughout history, as documented in the book Capitalism Without Capital by Westlake and coauthor Jonathan Haskel, firms have invested in physical goods like machines and computers. As society has grown richer, companies have invested increasingly in "intangible" assets: research and development, branding, organizational development, and software. Today's challenge is to build the institutions and enact the policies that will maximize the new economy's potential.

Glöm fabriker, datorparker och maskiner, för vi lever i ett århundrade där ekonomisk framgång i växande grad tillskrivs vår förmåga att utveckla och utnyttja det osynliga kapitalet: varumärken, mjukvara, patent, design och företagskulturer. Erika och Johan har läst "Capitalism Without Capital", av Jonathan Haskel och Stian Westlake.

Joe Brusuelas, chief economist for RSM, speaks with MMG's editor-in-chief about what U.S. middle-market managers should be watching as the economy slows and risk factors mount, notably the trade dispute with China. He weighs in on the likelihood of a 2019 recession in the U.S., the impact of the Fed's decision to pause its rate hikes, and how to plan for NAFTA modernization. Brusuelas also discusses his middle-market reading recommendations: a paper from the San Francisco Federal Reserve titled “How Much Could Negative Rates Have Helped the Recovery?”, and “Capitalism without Capital: The Rise of the Intangible Economy” by Jonathan Haskel and Stian Westlake.

When we think about the economy, we tend to think about stuff. Physical goods are manufactured and sold, factories are built and upgraded, innovation gives us shiny new gadgets we can hold in our hands.But this is becoming a less and less accurate way of thinking about things. Increasingly, intangible assets are what matter.According to Jonathan Haskel and Stian Westlake, the authors of the brilliant Capitalism Without Capital, these intangible assets don’t play by the basic laws of economics. And so the rise of assets you can’t touch, they argue, is having a big impact on how the economy works.Haskel and Westlake start with a simple, even obvious, insight and end with an important and thoughtful book about the nature of the modern economy. Their work has received high praise from high places. Bill Gates calls Capitalism without Capital “required reading for policymakers”.For this week’s episode of free exchange, I spoke to Stian about his book, which is out now in paperback, and the implications of the ideas contained within it. See acast.com/privacy for privacy and opt-out information.

Why can't some of the most profitable companies in the world be valued? From fitness classes to global tech firms and coffee chains, Jonathan Haskel and Stian Westlake reveal the growing dominance of the intangible economy and the implications for society, equality and productivity.

Capital has changed and capitalism is changing as a result. For the first time in history, businesses are investing more in things you can neither see nor touch – so-called intangible capital – than in traditional physical assets like buildings, machines, computers or vehicles. Intangible capital, such as R&D, design, software, brands and organisational capabilities, have different economic properties from traditional assets. As a result, the rise of the intangible economy is changing the economy and society in important and non-obvious ways. This new intangible economy helps explain a range of big puzzles and problems: why productivity is stagnating, why inequality is rising, why populism is on the rise. It also helps managers, investors and policymakers understand what to do about it. Jonathan Haskel, economics professor at Imperial College Business School, and Stian Westlake, policy adviser to the Minister of State in the Department of Business, Energy, and Industrial Strategy at the University of Cambridge, have written a new book, "Capitalism without Capital." They will discuss this new economic trend and what it means for the future. SPEAKERS Jonathan Haskel Professor of Economics, Imperial College Business School, Imperial College London Stian Westlake Policy Adviser to the Minister of State, Department for Business, Energy, and Industrial Strategy, Center for Science and Policy, University of Cambridge MODERATOR: Jane Wales CEO, World Affairs and Global Philanthropy Forum; Vice President, The Aspen Institute We want to hear from you! Please take part in a quick survey to tell us how we can improve our podcast: https://www.surveymonkey.com/r/PWZ7KMW

Hey folks, today we are zooming out to the big picture. We talk a lot about technological trends (software eating the world, bitcoin, AI) but *organizational* trends aren't given their due. And organizations are evolving, partly (maybe mostly) due to technology but this line of thinking also is also distinct. One example is a recent book called Capitalism without Capital, by Jonathan Haskell and Stian Westlake, which argues that what they call intangible assets are growing in importance. Intangible assets are ideas, knowledge, aesthetic content, brands, networks and relationships. These sit collectively in the heads of employees of an organization and in some ways sit between theirs heads in that organizations are webs of collaboration. The framework the authors establish is that intangible assets have four qualities: they scale easily, their costs are sunk (you can't sell them!), they are synergistic, in that the combination of these assets supercharge their effect and they create postiive spillovers outside of the firm itself. One observation the authors make is that synergy and scalability means companies use intangible assets to get big. Real big. Other research supports this by pointing out firm margins are increasing but startup rates have declined! This paints a complicated picture and I wanted to find someone to help me think it through. My choice was Arnold Kling, who has been an early commenter on these trends, publishing essays in the 90s and early 00s discussing declining variable costs (link) and the intangible economy (link to book). He has an incredibly unique perspective in that he has a mainstream economics education (completing his PhD dissertation at MIT under Nobel Laureate Robert Solow) but also started, grew and sold an Internet business in the 90s (see his story here). Arnold has experienced first hand the research and reality of organizational development and growth and I learned a lot here. If you'd like to receive emails when I post a new episode subscribe at webtrough.com/signup and please rate the show in iTunes! Music by www.bensound.com

What has led to the rise of the ‘intangible economy’? And what impact is it having on levels of inequality and productivity? Economic analysts Stian Westlake and Jonathan Haskel investigate. 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. What does the future of an intangible world look like, and how can managers, investors, and policymakers exploit the characteristics of an intangible age to grow our companies and economies? This event was recorded live at The RSA on Thursday 23rd November 2017. Discover more about this event here: https://www.thersa.org/events/2017/11/capitalism-without-capital

There was jubilation among many who were on the winning side of last month's EU referendum. But the vote, more than any in recent memory, laid bare the UK's divisions - not only in demographics but also social attitudes. Many of the 16m people who voted Remain expressed shock, sadness and even grief after the result. Two weeks ago The Briefing Room visited Wakefield in West Yorkshire to find out about those who voted Leave. In this programme, David Aaronovitch takes the opposite tack and visits Lambeth, the south London borough that stretches from the banks of the Thames opposite the Houses of Parliament to the Capital's suburban fringes. He talks to long-standing residents and relative newcomers to find out what Remainers feel now. In in area where nearly four-fifths of those who voted backed Remain, is there a still a sense of upset over the result? And having been outvoted in one of the UK's biggest democratic experiments, what do they plan to do now?Interviewees in Lambeth include: Devon Thomas chair of the Brixton Neighbourhood Forum, local Green Party candidate Rashid Nix, Labour Party volunteer Gareth Rhys, Rosamund Urwin of the London Evening Standard, Tom Shahkli general manager of the Brixton Pound project, and Rui Reis, vice chair of the Portuguese cultural and football club in Stockwell.Studio guests: Cordelia Hay of Britain Thinks and Stian Westlake of NESTA.Producer: Mike Wendling Researcher: Kirsteen Knight.

Why did so many people in the UK vote to Leave the EU? David Aaronovitch talks to residents in the pro-Leave city of Wakefield and finds out from experts why personal prosperity was a poor indicator of referendum voting intention.Guests include: Stian Westlake, Executive Director of Policy and Research, NEST, and author of 'The Intangible Economy' with Jonathan Haskel Ben Shimshon, BritainThinks, market research and communications consultancy Molly Crockett, Associate Professor of Experimental Psychology, University of Oxford. Producer: Joe Kent Researchers: Alex Burton and Kirsteen Knight.