Just realised I’ve been blurring the distinction between tools and intangibles. If a firm wants to increase its efficiency, it could either design better chairs for its employees or design a better recruitment process and I’ve been treating these as the same kind of thing. I think the main difference is that intangibles are harder to buy and sell than tools are, and this may be relevant.
Just realised I’ve been blurring the distinction between tools and intangibles. If a firm wants to increase its efficiency, it could either design better chairs for its employees or design a better recruitment process and I’ve been treating these as the same kind of thing. I think the main difference is that intangibles are harder to buy and sell than tools are, and this may be relevant.