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.
In The Death of Money, Rickards explores the future of the international monetary system. The international monetary system has collapsed three times in the past hundred years. Each collapse was followed by a period of
war, civil unrest, or damage to the stability of the global economy. Now James Rickards explains why another collapse is rapidly approaching. The US dollar has been the global reserve currency since the end of the Second
World War. If the dollar fails the entire international monetary system will fail with it.
But Washington is gridlocked, and America’s biggest competitors - China, Russia, and the Middle East - are doing everything possible to end US monetary hegemony. The potential results: Financial warfare. Deflation. Hyperinflation. Market collapse. Chaos. James Rickards offers a bracing analysis of the fundamental problem: money and wealth have become ever more detached. Money is transitory and ephemeral; wealth is permanent and tangible. While wealth has real value worldwide, money may soon be worthless. The world’s big players - governments, banks, institutions - will muddle through by making up new rules, and the real victims of the next crisis will be small investors. Fortunately, it is not too late to prepare for the coming death of money.
In this riveting book, James Rickards shows us how. "A terrifically interesting and useful book ...fascinating". (Kenneth W. Dam, former deputy secretary of the Treasury and adviser to three presidents). James Rickards is the author of Currency Wars, which has been translated into eight languages and won rave reviews from the Financial Times, Bloomberg, and Politico. He is a portfolio manager at West Shore Group and an adviser on international economics and financial threats to the Department of Defense and the U.S. intelligence community. He served as facilitator of the first-ever financial war games conducted by the Pentagon. He lives in Connecticut.
What, James Tyner asks, separates the murder of a runaway youth from the death of a father denied a bone-marrow transplant because of budget cuts? Moving beyond our culture’s reductive emphasis on whether a given act of
violence is intentional—and may therefore count as deliberate murder—Tyner interrogates the broader forces that produce violence.
His uniquely geographic perspective considers where violence takes place (the workplace, the home, the prison, etc.) and how violence moves across space. Approaching violence as one of several methods of constituting space, Tyner examines everything from the way police departments map crime to the emergence of “environmental criminology.” Throughout, he casts violence in broad terms—as a realm that is not limited to criminal acts and one that can be divided into the categories of “killing” and “letting die.”
His framework extends the study of biopolitics by examining the state’s role in producing (or failing to produce) a healthy citizenry. It also adds to the new literature on capitalism by articulating the interconnections between violence and political economy. Simply put, capitalism (especially its neoliberal and neoconservative variants) is structured around a valuation of life that fosters a particular abstraction of violence and crime.
In this groundbreaking alternative history of the most dominant ideology of our time, Milton Friedman's free-market economic revolution, Naomi Klein challenges the popular myth of this movement's peaceful global victory. From Chile in 1973 to Iraq in 2007, Klein shows how Friedman and his followers have repeatedly harnessed terrible shocks and violence to implement their radical policies. As John Gray wrote in The Guardian, "There are very few books that really help us understand the present. The Shock Doctrine is one of those books."