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Capitalism without Capital: The Rise of the Intangible Economy

Book by Jonathan Haskel · 1 quotes · Intangible Economy, Public Policy, Vc

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Capitalism without Capital: The Rise of the Intangible Economy Quotes

“While we might expect to see venture capital develop further in an increasingly intangible economy, it is not clear that governments can or should do much more to promote it than they already do. As Josh Lerner showed in The Boulevard of Broken Dreams (2012), once tax breaks or subsidies for venture capital get beyond a certain level, they tend to encourage dumb investments (since the tax gain on its own is enough for the investors to profit); since the entire point of venture capital is smart investment, very large tax breaks are self-defeating. For a country to grow its venture capital sector, time and favorable framework conditions are more important than additional subsidies.”

Public PolicyVenture CapitalIntangible Economy
Book:Capitalism without Capital: The Rise of the Intangible Economy
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