EIM Business & Policy Research
Creativity is believed to be a key element in stimulating economic growth in cities, regions and advanced capitalist economies in general. Creativity might also be particularly useful in knowledge-based economies, where creativity is required to convert scientific and technological knowledge into market value. Research into the significance of creativity increased greatly with the work of Richard Florida (2002a). His creative class focuses on the presence of people in creative professions. A large creative class leads to a social climate with a high acceptance of minority points of view, and improves the attractiveness of a region as a place for highly educated people to live.