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What is this creative economy? It is an economic system that relies most on ideas to serve as its major capital, instead of services or physical capital. Take Google for example. In an economy based on ideas, the potentialfor breakaway successes like Google is far greater.

According to Richard Florida’s The Rise of the Creative Class: And How it’s Transforming Work, Leisure,Community and Everyday Life, members of the creative class are very different from those who are employed in the manufacturing, service or agriculture industries. They contribute to our economy primarily by producing the new forms and ideas exploited by our various industries and decision-makers.   What Florida terms the “super creative core” of this new class includes “scientists and engineers, university professors, poets and novelists, artists, entertainers, actors, designersand architects, as well as the ‘thought leadership’ of modern society: non-fiction writers, editors, cultural figures, think-tank researchers, analysts and other opinion-makers.”

What sets a creative city apart from a non-creative city? Florida proposes that it is the “three Ts of economic development”: technology, talent and tolerance.