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It nevertheless remains the case that the ultimate value of many of the stocks revolves around the valuation of intangible assets, assets that by definition are not easy to value.
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Fund managers and analysts come up with their own, subjective valuations of intangible assets.Big accountancy firms want to seize some of this territory.
The first is the growing importance of intangible assets.
"The majority of intangible assets live in industries that are relatively unknown or relatively boring".
But the role of intangible assets in foreign investment should inspire some hope that it could help reduce inequalities, too.
But Piketty doesn't include any charts showing the growth of intangible assets in major global corporations over the past several decades.
And economic capital comprises of intangible assets.
The opposite happens when output heterogeneity and the use of intangible assets and capabilities increase.
"I have a lot of intangible assets," he says of his experience.
The positive impact of intangible assets on several measures of economic performance is well documented in the literature.
The company blames "approximately $410 million for stock-based compensation and amortization of intangible assets" for the massive coming deficit.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com