Ken Dixon Lecture
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, or 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. As Jonathan Haskel will discuss in this talk, the growing importance of intangible assets has also played a role in some of the big economic changes of the last decade. He will argue that the rise of intangible investment is an underappreciated cause of phenomena from economic inequality to stagnating productivity, and he will draw out some implications for monetary policy.
Jonathan Haskel is Professor of Economics at Imperial College Business School, Imperial College London.
He was previously Professor and Head of Department at the Department of Economics, Queen Mary, University of London. He has taught at the University of Bristol and London Business School and been a visiting professor at the Tuck School of Business, Dartmouth College, USA; Stern School of Business, New York University, USA; and visiting researcher at the Australian National University.
Since 1 February 2016, he has been a non-Executive Director of the UK Statistics Authority.
Between 2001 and 2010 Jonathan was a Member, Reporting Panel of the Competition Commission (now the Competition and Markets Authority). He worked on market enquiries into mobile phones, home credit, and airports, and the EMAP/ABI merger.
He has been on the editorial boards of Economica, Journal of Industrial Economics and Economic Policy. His research interests are productivity, innovation, intangible investment and growth. He is the author, with Stian Westlake, of Capitalism Without Capital, Princeton University Press.