Creativity and economic growth: theory, measures, and potentials for Morocco

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.