GCI 2015: Luxembourg Best in (Creative) Class Written by Michael Renotte on January 20th, 2016

The Global Creativity Index (GCI) is a broad-based measure for advanced economic growth and sustainable prosperity based on the 3Ts of economic development – talent, technology, and tolerance. It rates and ranks 139 nations worldwide on each of these dimensions and on Martin Prosperity Institute’s overall measure of creativity and prosperity.

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Capitalism is in the midst of an epochal transformation from its previous industrial model to a new one based on creativity and knowledge. In place of the natural resources and large-scale industries that powered the growth of industrial capitalism, the growth of creative capitalism turns on knowledge, innovation, and talent.

Just as the older model of industrial capitalism was organized around major classes – capitalists and the working class – the new model of creative capitalism gave rise to a new set of occupational classes.

New classes of workers

The working class, which has declined from its peak of nearly half the workforce to just one in five workers in most advanced nations, has given way to two even larger classes. The creative class, which comprises a third to more than forty % of the workforce in the advanced nations, includes scientists, technologists, artists, cultural creatives, and media workers, as well as knowledge-based professionals in business, education, and health-care. While the varied members of the working class had physical skills as a shared trait, the diverse groups of workers that make up the creative class all draw on their underlying human creativity. The even larger service class is made up of lower-skill, lower-wage, routine service occupations in fields like health care support, food preparation and service, low-end retail, and office and administrative positions. The divide between these two main classes lies at the root of growing inequality and class division across advanced and developing nations alike.

Luxembourg has the largest share of the creative class (54 %) — which spans science and technology, arts and culture, business, management, and the professions. Bermuda is second (48 %), Singapore third (47 %), down from first in 2011. Switzerland (47 %) is fourth and Iceland (45 %) is fifth. Rounding out the top ten are Australia (45 %), Sweden (45 %), the Netherlands (44 %), Canada (44 %), and the United Kingdom (44 %). The United States is 34th with 33 %.

The Martin Prosperity Institute, housed at the University of Toronto’s Rotman School of Management, explores the requisite underpinnings of a democratic capitalist economy that generate prosperity that is both robustly growing and broadly experienced.

The complete Global Creativity Index 2015 is available here for download.

Source: Martin Prosperity Institute