Economist
Definition
A professional who studies, analyses, and interprets the production, distribution, and consumption of goods and services. Economists apply quantitative and qualitative methods to understand economic behaviour at both micro and macro levels, informing policy decisions, business strategy, and investment analysis. In the context of intangible assets and productivity, economists have played a central role in identifying and quantifying the growing importance of intangible investment in driving economic growth. Landmark research by economists such as Carol Corrado, Charles Hulten, and Daniel Sichel established frameworks for measuring intangible capital formation at the national level, revealing that intangible investment now exceeds tangible investment in most advanced economies. This body of economic research underpins modern approaches to intangible asset valuation and provides the intellectual foundation for understanding why traditional GDP and productivity statistics systematically undercount the contribution of knowledge-based activities.
Complementary Terms
Concepts that frequently appear alongside Economist in practice.
The total monetary value of all finished goods and services produced within a country during a specific time period. GDP is the broadest measure of national economic output and is widely used as a proxy for overall economic health.
The amount of output produced per unit of labour input, commonly measured as gross value added (GVA) divided by labour costs or number of employees. Labour productivity is a key efficiency metric that reflects the quality of human capital, processes, and technology deployed by a firm.
A measure of productivity that captures the effects of technology, innovation, management quality, and other intangible factors that increase output beyond what can be explained by the quantity of labour and capital inputs used. TFP is calculated as GVA divided by a weighted combination of labour and capital inputs.
A classification framework for intangible investment developed by economists Carol Corrado, Charles Hulten, and Daniel Sichel. The CHS framework identifies three broad categories of intangible capital: computerised information (software, databases), innovative property (R&D, design, new products), and economic competencies (brand equity, organisational capital, firm-specific training).
An economic system in which growth and value creation are driven primarily by the production, distribution, and application of knowledge and information rather than physical goods. In the knowledge economy, intangible assets — including human capital, software, data, and intellectual property — constitute the majority of enterprise and national wealth.
Put this knowledge to work
Use Opagio's free tools to measure and grow the intangible assets that drive your business value.