The widespread emergence of intangible technologies in recent decades may have significantly hurt output growth -- even when these technologies replaced considerably less productive tangible technologies -- because of structurally low interest rates caused by demographic forces. This insight is...

Adam Smith has two principles: laissez faire and absolute advantage theory. This study has 3rd dimension for wealth of nations. It is intellectual capital. Because intellectual capitals increase GDP of nations, and create wealth for nations. ICs have accumulated knowledge, and ICs make...