Creativity and economic growth: theory, measures, and potentials for Morocco
| Published date | 14 May 2018 |
| Date | 14 May 2018 |
| DOI | https://doi.org/10.1108/JIC-12-2017-0165 |
| Pages | 480-486 |
| Author | Leonard Nakamura |
| Subject Matter | Information & knowledge management,Knowledge management,HR & organizational behaviour,Organizational structure/dynamics,Accounting & Finance,Accounting/accountancy,Behavioural accounting |
Creativity and economic growth:
theory, measures, and potentials
for Morocco
Leonard Nakamura
Federal Reserve Bank of Philadelphia, Philadelphia, Pennsylvania, USA
Abstract
Purpose –The current era of globalization is dominated by the rise of investments in intangible capital
rather than tangible capital –the ascendance of creativity over plant and equipment. This brief paper is
motivated by the possibility that emerging market economies such as Morocco might take greater advantage
of new tools and policies designed for this new era. The paper aims to discuss these issues.
Design/methodology/approach –To begin, the author discusses the transformation of the global
economy and the consequences of the transformed global economy for economic thinking and measurement.
The author refers to both old and new literature on the measurement of intangible investment and capital.
Findings –Then, the author discusses the rising role of creativity and cultural difference in the development
of these new economic forces, using the example of the Harry Potter book series.
Originality/value –The author then considers how cultural enhancement serves multiple purposes for a
nation. Finally, the author turns to some of the possible implications of these economic forces for Morocco,
stressing that these implications are speculative.
Keywords Economic development, Emerging markets, Measurement, Intangible assets
Paper type Research paper
The current era of globalization is dominated by the rise of investments in intangible capital
rather than tangible capital –the ascendance of creativity over plant and equipment.
This brief paper is motivated by the possibility that emerging market economies such as
Morocco might take greater advantage of new tools and policies designed for this new era.
To begin, I discuss the transformation of the global economy and the consequences of the
transformed global economy for economic thinking and measurement. I refer to both old and
new literature on the measurement of intangible investment and capital. Then, I discuss the
rising role of creativity and cultural difference in the development of these new economic forces,
using the example of the Harry Potter book series. I then consider how cultural enhancement
serves multiple purposes for a nation. Finally, I turn to some of the possible implications of
these economic forces for Morocco, stressing that these implications are speculative.
Section 1: the rise of creativity
The development of the global internet economy
Beginning in the 1970s, the microprocessor revolutionized the nature of economies around
the world. The microprocessor made the decentralization of data and communication
possible. In particular, the wide distribution of economic products became possible without
a large corporate bureaucracy and a huge-economy-of-scale production facility. Instead,
small firms became capable of earning billions of dollars a year (Nakamura, 2000, 2003a).
It had always been the case that large corporations were not as good at creating revolutionary
innovations as smaller ones were. However, throughout the twentieth century, large firms
conducted most of the research and development because only they had the resources to distribute
new products rapidly in quantity: Armies of secretaries, salespeople, and executives were required
to sell large quantities of razor blades, computers, or sewing machines (Nakamura, 2004).
Now, with a global market of more than two billion internet users who can be reached
with a click, new billion-dollar internet startups are launched by the dozen. If a startup can
Journal of Intellectual Capital
Vol. 19 No. 3, 2018
pp. 480-486
© Emerald PublishingLimited
1469-1930
DOI 10.1108/JIC-12-2017-0165
The current issue and full text archive of this journal is available on Emerald Insight at:
www.emeraldinsight.com/1469-1930.htm
480
JIC
19,3
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