PPT Slide
Leonard Nakamura, Philadelphia Fed:
the value of US gross investments in intangibles is over $1 trillion annually
these intangibles include:
R&D,
advertising and marketing,
software,
financial activities
creative activities of writers, artists and entertainers
Leonard Nakamura, “A Trillion Dollars a Year in Intangible Investment and the New Economy,” in John Hand and Baruch Lev, editors. Intangible Assets: Values, Measures and Risks, Oxford University Press, 2003.