It’s more than a century since American school supervisor Lyda Hanifan coined the term social capital to define intangible social connections vital for community cohesion and productivity. Economists have long recognised its importance. But they have never effectively incorporated it…
Category: Intangible capital
Unitary taxation is the wrong answer when intangible capital rules
Thoughtful people invariably seek solutions at higher levels of governance. The frustrated volunteer supporting a food bank will call for action to address poverty by the local authority. Councilors press for action at the national level. Governments want regional organisations…
Martin Wolf recognises the importance of intangibles but reaches the wrong conclusions
The FT’s Martin Wolf: getting it wrong about intangibles The Financial Times’ distinguished economics commentator Martin Wolf lauded in a piece published on 29 November a new book about intangible assets by Jonathan Haskel of Imperial College and Stian Westlake…