Akin to every other facet of the ever-altering reality, the economy, too, has progressively transformed at present into what is termed the "intangible economy," a concept that Jonathan Haskel explains in his book Restarting the Future: How to Fix the Intangible and delves into at length in this podcast episode of Capitalisn't from Chicago Booth Review, hosted by Bethany McLean and Luigi Zingales. To begin with, Haskel reveals that the dictums of the "intangible economy" which accords more value to incorporeal assets such as repute, proficiency, and knowledge over materialistic possessions, have different operational principles. While this emphasis on knowledge-oriented assets does set the "intangible economy" apart from its predecessor, it does not completely obliterate the points of conflict, the podcast reveals. Rather, it alters the notion of associated friction and warrants strong managerial and leadership acumen to navigate through the maze of this remodeled "intangible economy." Alongside, an immediate recasting of the diverse institutions is also imperative across the globe in order to adopt, embrace and survive in this new economic reality of today’s world. Read More Become a global executive with the University of Chicago Booth School of Business. Click to know more about the Chicago Booth Accelerated Development Program (Chicago Booth ADP).