Release on 2018-10-16 | by Jonathan Haskel,Stian Westlake
The Rise of the Intangible Economy
Author: Jonathan Haskel,Stian Westlake
Pubpsher: Princeton University Press
Category: Business & Economics
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, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, 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 larger economic changes of the past decade, including the growth in economic inequality and the stagnation of productivity. Jonathan Haskel and Stian Westlake explore the unusual economic characteristics of intangible investment and discuss how an economy rich in intangibles is fundamentally different from one based on tangibles. Capitalism without Capital concludes by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.
Release on 2000 | by Gil Eyal,Iván Szelényi,Ivan Szelenyi,Eleanor R. Townsley
Class Formation and Elite Struggles in Post-communist Central Europe
Author: Gil Eyal,Iván Szelényi,Ivan Szelenyi,Eleanor R. Townsley
Category: Political Science
Making Capitalism without Capitalists guides us towards a deeper understanding of the origins of modern capitalism. Classical social theory in its search for the genesis of capitalism explored the process of transition from feudalism to capitalism. Making Capitalism without Capitalists focuses instead on the transition from socialism to capitalism, where capitalism is made without a capitalist class. Making Capitalism without Capitalists reflects on the sociological characteristics of the Communist system breakdown in 1989 and offers a theory of social structure of post-Communist societies. 1989 is seen as a successful revolution led by the former technocratic fraction of the old Communist ruling estate against the bureaucracy. In order to secure its victory, however, the technocracy had to make substantial concessions to the former dissident intelligentsia. The irony of the post-Communist way to capitalism is that these most unlikely actors see 'building capitalism' as their historic task. By identifying some unique features of capitalism built on the ruins of socialism, Making Capitalism without Capitalists contributes to a deeper appreciation of the diversity of capitalism today.
Financial crisis, recession and worsening inequality have long been blamed on a surplus of capital. But the actions that led the latest boom and bust by banks and businesses, households and governments - can better be explained capital's increasing scarcity. Efforts to track it down confirm its disappearance.
This book examines the banking crisis of July/August 2007 and its ensuing after-effects in 2008-2009: economic crisis, credit crunch, massive recapitalization of some banks and nationalization of other banks. The author offers his views on the factors which led to this global financial catastrophe and how it could have been avoided.
Instant Wall Street Journal Bestseller! 'It's like The Four Hour Work Week and The Subtle Art of Not Giving a F*ck had a love child. Readable, informative, and good weird' Allen Gannett, author of The Creative Curve 'Refreshing to see an author who is actually doing what he writes, and then sharing his real tactics. No BS "theory," this book is for people who take action' Tucker Max, CEO of Book in a Box __________ You don't need to be university educated, have money, be creative, or even have an idea to get rich. You just need to be willing to break the rules. How to be a Capitalist Without Any Capital will teach you how to be a modern opportunist - investor, entrepreneur, or side hustler - by breaking these four golden rules of the old guard: 1. Focus on one skill: Wrong. Don't cultivate one great skill to get ahead. In today's business world, success goes to the multitaskers. 2. Be unique: Wrong. The way to get rich is not by launching a new idea but by aggressively copying others and then adding your own twist. 3. Focus on one goal: Wrong. Focus instead on creating a system to produce the outcome you want, not just once, but over and over again. 4. Appeal to the masses: Wrong. The masses are broke ($4k average net worth in America?). Let others cut a trail through the jungle so you can peacefully walk in and capitalize on their hard work. By rejecting these defunct rules and following Nathan Latka's unconventional path, you can copy other people's ideas shamelessly, bootstrap a start-up with almost no funding, invest in small local businesses for huge payoffs, and reap all the benefits. __________
The Social Foundations of Foreign Direct Investment in Postsocialist Europe
Author: Nina Bandelj
Pubpsher: Princeton University Press
Category: Social Science
From Communists to Foreign Capitalists explores the intersections of two momentous changes in the late twentieth century: the fall of Communism and the rise of globalization. Delving into the economic change that accompanied these shifts in central and Eastern Europe, Nina Bandelj presents a pioneering sociological treatment of the process of foreign direct investment (FDI). She demonstrates how both investors and hosts rely on social networks, institutions, politics, and cultural understandings to make decisions about investment, employing practical rather than rational economic strategies to deal with the true uncertainty that plagues the postsocialist environment. The book explores how eleven postsocialist countries address the very idea of FDI as an integral part of their market transition. The inflows of foreign capital after the collapse of Communism resulted not from the withdrawal of states from the economy, as is commonly expected, but rather from the active involvement of postsocialist states in institutionalizing and legitimizing FDI. Using a wide array of data sources, and combining a macro-level account of national variation in the liberalization to foreign capital with a micro-level account of FDI transactions in the decade following the collapse of Communism in 1989, the book reveals how social forces not only constrain economic transformations but also make them possible. From Communists to Foreign Capitalists is a welcome addition to the growing literature on the social processes that shape economic life.
Over the past three decades, China has undergone a historic transformation. Once illegal, its private business sector now comprises 30 million businesses employing more than 200 million people and accounting for half of China's Gross Domestic Product. Yet despite the optimistic predictions of political observers and global business leaders, the triumph of capitalism has not led to substantial democratic reforms. In Capitalism without Democracy, Kellee S. Tsai focuses on the activities and aspirations of the private entrepreneurs who are driving China's economic growth. The famous images from 1989 of China's new capitalists supporting the students in Tiananmen Square are, Tsai finds, outdated and misleading. Chinese entrepreneurs are not agitating for democracy. Most are working eighteen-hour days to stay in business, while others are saving for their one child's education or planning to leave the country. Many are Communist Party members. "Remarkably," Tsai writes, "most entrepreneurs feel that the system generally works for them." She regards the quotidian activities of Chinese entrepreneurs as subtler and possibly more effective than voting, lobbying, and protesting in the streets. Indeed, major reforms in China's formal institutions have enhanced the private sector's legitimacy and security in the absence of mobilization by business owners. In discreet collaboration with local officials, entrepreneurs have created a range of adaptive informal institutions, which in turn, have fundamentally altered China's political and regulatory landscape. Based on years of research, hundreds of field interviews, and a sweeping nationwide survey of private entrepreneurs funded by the National Science Foundation, Capitalism without Democracy explodes the conventional wisdom about the relationship between economic liberalism and political freedom.
The international financial crisis that has held our global economy in its grip for too long still seems to be in full stride. Former British Prime Minister and Chancellor of the Exchequer Gordon Brown believes the crisis can be reversed, but that the world’s leaders must work together if we are to avoid a decade of lost jobs and low growth. Brown speaks both as someone who was in the room driving discussions that led to some crucial decisions and as an expert renowned for his remarkable financial acumen. No one who had Brown’s access has written about the crisis yet, and no one has written so convincingly about what the global community must do next in order to climb out of this abyss. Brown outlines the shocking recklessness and irresponsibility of the banks that he believes contributed to the depth and breadth of the crisis. As he sees it, the crisis was brought on not simply by technical failings, but by ethical failings too. Brown argues that markets need morals and suggests that the only way to truly ensure that the world economy does not flounder so badly again is to institute a banking constitution and a global growth plan for jobs and justice. Beyond the Crash puts forth not just an explanation for what happened, but a directive for how to prevent future financial disasters. Long admired for his grasp of economic issues, Brown describes the individual events that he believes led to the crisis unfolding as it did. He synthesizes the many historical precedents leading to the current status, from the 1933 London conference of world leaders that failed to resolve the Great Depression to the more recent crash in the Asian housing market. Brown’s analysis is of paramount importance during these uncertain financial times. As Brown himself said of his ideas for the future, “We now live in a world of global trade, global financial flows, global movements of people, and instant global communications. Our economies are connected as never before, and I believe that global economic problems require global solutions and global institutions. In writing my analysis of the financial crisis, I wanted to help explain how we got here, but more important, to offer some recommendations as to how the next stage of globalization can be managed so that the economy works for people and not the other way around.”## *** The crisis exposed the contradiction of globalization itself: as economies have become more interconnected, regulators and governments have failed to keep pace and increase coordination. It is a failure intrinsic to unregulated global markets, an instability that resulted from the manner in which increasing flows of capital around the world happened and impacted the economy. And it is a failure of collective action at an international level to respond quickly enough to the structural imbalances and inequities that arose. At its simplest, then, this is the first true crisis of globalization. For the first time everybody, from the richest person in the richest city to the poorest person in the poorest slum, was affected by the same crisis. Although its roots are global, its impact is local, directly felt on nearly every main street, on nearly every shop floor, around nearly every kitchen table. Billions of people around the world are in need of and are demanding a better globalization. It is the nature of power that you always leave tasks unfinished when you leave office. It is the nature of politics that the argument must continue. This book is my warning of a decade of lost growth and my answer to that fear with a call for a better globalization. It is an explanation of a pattern in the numbers that points to an enormous opportunity to alleviate poverty, create jobs, and grow. A future of low growth, high unemployment, decline, and decay is not inevitable; it’s about the change we choose. -- From Beyond the Crash
Why have some countries been able to escape the usual dead end of international development efforts and build explosively growing capitalist economies? Based on years of fieldwork, this book provides a detailed account of the first generation of entrepreneurs in Vietnam in comparison to those in other transition countries. Focusing on the emergence of private land development firms in Ho Chi Minh City, the author shows how within seven years the private sector produced the majority of all new houses in the real estate market. This book demonstrates that capitalist entrepreneurialism was not the result of state initiative, properly incentivized policies, or individual personality traits. Rather, a society-wide reconstruction of cognitive paradigms enabled entrepreneurs to emerge and transformed Vietnam from a poor, centrally planned economy to one of the fastest growing, market economies in the world.
Summary of How To Be a Capitalist Without Any Capital. Nathan Latka's How To Be a Capitalist Without Any Capital is thought-provoking in every sense of the word. This college dropout puts forth his ideas on the rules he broke to go from a 19-year-old with $119 in the bank to having a company valued at over $10.5 million. His philosophy is that following conventional wisdom will not get you to the top. You don't need to be exceptionally brilliant, you just need to know which rules to break to join the new rich. It is a refreshing take on the "self-help" and "business" genres in that it doesn't just say you need to " Get more income" to become rich. Latka goes over precise examples of what tools you can utilize the minute you read it. Nathan does not hold anything back in this book, and he goes over every single one of his income streams in detail to paint a clear road map of exactly how to do it. This isn't some "feel good" book that will tell you to follow your passions. This is for people who are ready to put these principles into action and this book explains exactly how to break these four rules: 1.Focus on one skill 2.Be unique 3.Focus on one goal 4.Appeal to the masses Informative, entertaining, and valuable, Nathan Latka tells us why we should start investing in our local food trucks and stay away from financial advisors, how to get a free hotel stay with simple negotiations, and how he got a company to pay him over $12,000 to take over their business. In this summary, I will walk you through all of the ideas and concepts worth remembering, as well as a detailed summary of every chapter. Important note: This is a book summary of How To Be a Capitalist Without Any Capital By Nathan Latka. This is not the original book.