Artists, Engineers, and Aspects of Economic Growth in a Creative Region

Amitrajeet Batabyal and Hamid Beladi

MPRA Paper from University Library of Munich, Germany

Abstract: We study aspects of economic growth in a region that is creative in the sense of Richard Florida. Members of the creative class fall into one of two possible groups. This grouping stems from the manner in which creative capital is acquired by the individual members. In this setting, we accomplish five tasks. First, we derive the wage of members in each of the two creative class groups. Second, we show that the average wage increases with the physical capital per creative class member ratio. Third, we derive an expression for the steady state physical capital per creative class member ratio. Fourth, we show that in a particular circumstance, the distribution of income does not affect the steady state physical capital per creative class member ratio. Finally, we ascertain the optimal income redistribution rule that maximizes the average steady state income of the creative class in the region under study.

Keywords: Creative Capital; Creative Class; Economic Growth; Income Redistribution; Region (search for similar items in EconPapers)
JEL-codes: D90 R11 (search for similar items in EconPapers)
Date: 2017-06-07
New Economics Papers: this item is included in nep-cul and nep-gro
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/79573/1/MPRA_paper_79573.pdf original version (application/pdf)

Related works:
Journal Article: Artists, engineers, and aspects of economic growth in a creative region (2018)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:79573

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().