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The Creative Paradigm: A Benchmark for Economic Growth

Author/s: Valerie Kupke

Date Published: 1/01/2006

Published in: Volume 12 - 2006 Issue 2 (pages 133 - 145)

Abstract

Richard Florida in his two best selling books, The Rise of the Creative Class (2002) and The Flight of the Creative Class (2004) proposed a new paradigm for economic growth based on the concept that city and regional economic growth is aligned to specific demographic characteristics. These characteristics are recognised as a form of social or creative capital and are considered necessary for the innovation required to promote economic growth; for instance, in the high technology sector. Creative capital theory states that where creative people live, the economy grows faster – which is to say that jobs follow people. Governments have been keen to incorporate the notion of a creative index into their strategic planning as a means of benchmarking their ability to attract industry and increase high technology opportunities. This paper will examine what is meant by the “creative class” and attempt as an exploratory exercise to identify any relationship between an index measuring creativity with economic and social indicators for the sixty five economic regions in Australia.

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Keywords

Creative Class - Economic Growth - Innovation

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