The Economics of Intangible Investment

New Directions in Modern Economics series

Elizabeth Webster, Director, Centre for Transformative Innovation, Swinburne University of Technology, Australia

This innovative book sheds new light on the emerging confluence between labour and industrial economics: the view that labour as capital is the dominant factor of production. This factor is commonly embraced under the term intangible capital.

“我有幸and pleasure of supervising the Ph.D. dissertation from which the present book originated. Its author, Beth Webster, was independent, critical in a positive way and original. She acquired a most thorough knowledge and mastery of the relevant literature. She recognized early on the growing importance, both qualitatively and quantitatively, of investment in intangible assets in modern economic processes. She set about developing an appropriate framework, drawing on Kalecki’s insights in particular, within which to analyse the issues involved. The outcome is the present book – which is original, relevant, comprehensive and a pleasure to read.’
– G.C. Harcourt, University of New South Wales, Australia