Stian Westlake Books
Stian Westlake is Chief Executive of the Royal Statistical Society and a researcher on innovation and economic policy.
Known for: Capitalism Without Capital: The Rise of the Intangible Economy
Books by Stian Westlake
Capitalism Without Capital: The Rise of the Intangible Economy
This book explores how modern economies are increasingly driven by intangible assets such as software, research, design, and branding rather than physical capital. Haskel and Westlake analyze how this shift affects productivity, inequality, and economic policy, arguing that the rise of intangible investment changes the nature of competition, innovation, and growth in profound ways.
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The Shift from Tangible to Intangible Investment
Over the last half-century, global investment patterns have undergone a revolution. Traditional industries once defined by massive physical infrastructure—steel, oil, automobiles—now share space with companies that own very little physical capital but command vast intangible resources. Think of Goog...
From Capitalism Without Capital: The Rise of the Intangible Economy
The Four S’s of Intangibles
To understand why intangible assets behave differently, we describe them through four defining properties—the Four S’s: scalability, sunk costs, spillovers, and synergies. Scalability means that intangible assets, such as software or brand reputation, can be reproduced and used repeatedly without i...
From Capitalism Without Capital: The Rise of the Intangible Economy
About Stian Westlake
Stian Westlake is Chief Executive of the Royal Statistical Society and a researcher on innovation and economic policy.
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Stian Westlake is Chief Executive of the Royal Statistical Society and a researcher on innovation and economic policy.
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