Note — Aug 19, 2018

Not Enough People Are Paying Attention to This Economic Trend

Bill Gates’ review of Capitalism Without Capital by Jonathan Haskel and Stian Westlake which is about the rise the intangible economy. Roughly; an economist’s view of the idea that software is eating the world.

Unlike the goods that powered our economy in the past, software is an intangible asset. And software isn’t the only example: data, insurance, e-books, even movies work in similar ways. […] The portion of the world’s economy that doesn’t fit the old model just keeps getting larger. That has major implications for everything from tax law to economic policy to which cities thrive and which cities fall behind, but in general, the rules that govern the economy haven’t kept up. This is one of the biggest trends in the global economy that isn’t getting enough attention.